The fact that the gas prices are dropping is huge for me and my part time waiter lifestyle. As gas prices continue to drop it looks better and better for my bank account and for saving up money. And of course who in their right mind does not like having cheaper gas.
But in a less self centered take on the dropping gas prices. I have read that dropping gas prices could have a mixed effect on the economy. Economist Philip Verleger calls the drop “a stimulus program for consumers,” leaving them more money for clothes, dining out and movies. “Yes, it produces some relief, your bill at the gas pump goes down. But it’s going down because there are worries that people won’t have jobs,” says James Hamilton, an economics professor at the University of California, San Diego.
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