Americans Brace for $5 Gas, Still Buy Pokémon Cards Like It’s 1999

Photo by Rasmus Gundorff Sæderup on Unsplash

KEY POINTS

•Mizuho analyst David Bellinger wrote on April 15, 2026, that rising gas prices haven't reduced consumer spending.
•Tax refunds are up by double digits this season, fueling spending on Pokémon cards, Needoh toys, and movie tickets.
•JPMorgan CEO Jamie Dimon noted consumers are still earning and spending even as produce prices rise with diesel costs.

As Americans watched gas prices leap over $4 a gallon thanks to the Iran war disrupting the Strait of Hormuz, hopelessly hoping this wasn’t the apocalypse, Mizuho analyst David Bellinger reported on April 15, 2026, that spending shrugs it off. People are happily splurging tax refunds (up in double digits this season, no less) on semi-essential items like Pokémon cards and Needoh sensory toys—because if you can’t afford avocado toast, you can always catch ‘em all. Even box office shattered Easter weekend records. JPMorgan’s Jamie Dimon caps it off by reminding us consumers are still spending and earning. Meanwhile, fresh produce prices climb, punishing raspberry lovers and lime aficionados traveling the money-sucking fuel highways from Mexico. Just your average economic cocktail: war-fueled gas hikes and the enduring burning passion for overpriced trading cards.