Trump Supporters Walking Away Over High Fuel Costs
Farmers, ranchers, and small business owners who backed Trump are turning on him as the Iran conflict keeps diesel prices high — bad news for the economy heading into the holiday season, and a warning sign for stocks, crypto, and precious metals.
- Farmers and veterans are posting pleas to Trump to stop the Iran conflict, saying high diesel costs are sinking their businesses.
- Ranchers are also getting hit by cheap Mexican ground beef that Trump allowed into the U.S., which they can't compete with on price.
- Fuel supply is getting tighter: an Exxon Mobil refinery is offline after a flood and power loss, and the Strategic Petroleum Reserve is at its lowest level since 1982 with most of the emergency oil already loaned out.
- High fuel prices lasting six months or more tend to break the economy, and that breaking point is landing right as holiday shopping starts.
- Late buyers who piled into silver and gold over the past year are starting to sell, and a similar dump is expected in crypto and stocks.
Outlook: Anger at Trump will keep growing while fuel stays expensive, and a sharp drop in metals, crypto, and stocks over the next six to eight months could create buying opportunities for anyone with cash and a plan.