The retail sales data proved it... [4] The Fed admitted it... [5] and now Goldman Sachs has proved it... there is no 'economic stimulus' benefit from low gas prices for the US consumer (it is, simply put, merely a transfer of consumption from one good to another - or worse, it is saved or used to pay for healthcare or debt). As Goldman explains so clearly in its analysis of WalMart's results, the correlation between gas prices and WalMart same-store-sales "is nearly zero."
As Goldman shows... the R^2 between WalMart sales growth and gas prices is negligible at best...
[6]
Not exactly the "unequivocally good" meme confirming data that so many have rested their careers (and their client's money) on...
