Cheap Oil Will Not Boost the US Economy
The stark reduction of oil prices in the world is not news to anybody and people are really excited about it in general. The consumers of US though, are thinking twice before deciding to spend their windfall earned from meagerly priced gasoline and are trying to save even more money. This has been indicated by quite some polls done by companies and this all indicates that low oil prices aren’t going to boost the economy much- this time.
Cheap oil won’t be a boom for the US economy:
Cheap oil
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While the numbers and figures from the past are indicative of delightful results, this year the economists doubt that we are going to have the same luck. Experts believe that the scars from the recession (2007-09) are still very fresh and this could cause the effect on consumption to not amount to anything significant. To put things into perspective consider this: In mid 2014, the economy recovered around 7 million jobs that were lost as a result of the downturn.
These notions however pragmatic are only opinions and the real repercussions will only be apparent once we analyse the results of the whole cheap oil situation. Let’s hope for the best.