If the plunge in gas prices was "unequivocally good" for Americans' pocketbooks, then we wonder what the PhDs will make of the fact that California gas prices just broke above $3 for the first time since 2015 - soaring at 28% YoY (the fastest since Q1 2011, which sparked a plunge in economic growth).
California gasoline prices at 20 month highs...
There's just one problem with the "unequivocal" arguments - the last time gas prices soared at this pace, GDP growth in America plunged...
But then again we are sure - because we don't have a PhD - that we simply don't understand the dynamics.