Quote · Excess Returns
Andy Constan on the SpaceX IPO, AI CapEx, and the End of the Buyback Tailwind
Where this was said
Jalen Brunson, incentives, and long-term value
At 52:20 · chapter starts 52:00
Falling oil prices lower headline inflation but push core higher as spending shifts. The US has been inflationary for 5–6 years; wars like Ukraine and the Middle East barely move the macro needle. [1] — Andy Constan "Oil falling looks like good inflation news. It isn't. Lower oil frees up consumer spending that flows into other goods, pushing core inflat…" 51:20
Falling oil prices lower headline inflation but shift consumer spending to other goods, pushing core inflation back up — the overall inflationary pressure does not disappear.
