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dublin hillz says

The tax cut for American consumers from plunging oil prices

Why call it a tax cut? This looks as if it will actually help people.

HydroCabron says

This looks as if it will actually help people

It definitely should as most driving is due to work commutes which results in inelastic demand.

This is the money that was going to the rich people to save them from the last bubble. Now, it is staying with us.

People are paying 40% less than they were at the start of the year or since April. What ever amount that comes to depends on how much they drive.
It could be far less than $1,100 or much more.
Not so much now, because there will be a lag time of current stock has to make its rotation out of inventory. Eventually cost to produce and transport is going to catch up and that is where the real value is going to come from.
We may see $4,000 to $6,000 in overall savings directly related to cheap gas and Oil. Hopefully they wont come up with a $6,000 new tax to give to all of the rich assholes who are about to lose their asses.

This government has an excellent track record of making damn sure that class of people don't catch financial flu and cold, at the expense of everyone else.

Obviously this is money that should be going to fund government activities. If only the gas tax were higher! The peons don't need money as much as government does!

CaptainShuddup says

We may see $4,000 to $6,000 in overall savings directly related to cheap gas and
Oil.

Secondary effects are certainly possible and are welcomed.

I'll also add that with in the second year of whatever financial and economic rebound I predict will happen. Three hundred thousand dollar median home prices will be the norm again, in a healthy sellers market of eager first time buyers.

HydroCabron says

dublin hillz says

The tax cut for American consumers from plunging oil prices

Why call it a tax cut? This looks as if it will actually help people.

If people switch from Starbucks to home brew for their caffeine needs, they could also stumble on a similar "tax cut"

CaptainShuddup says

Three hundred thousand dollar median home prices will be the norm again, in a healthy sellers market of eager first time buyers.

Right, because we all know that when gas drops a dollar per gallon, everyone's income goes to the moon. And even with the economy booming so much that all the first time buyers can afford to pay 300k, oil won't go back up.

Then the unicorns will fart rainbows and republicans will be running everything, and we'll all be rich, rich I say, rich, rich, RICH !

This is great news. Now buyers can offer $1,100 over the list price on shacks.

marcus says

Right, because we all know that when gas drops a dollar per gallon, everyone's income goes to the moon. And even with the economy booming so much that all the first time buyers can afford to pay 300k, oil won't go back up.

No now you're getting ahead of your self. Of course I never said it was a good thing nor sustainable. I'm just trying to illustrate that cheap Oil and Gas will give ecconomic indications so strong, that unless we have prudent oversight in place for the mortgage servicing industry, we will end right back up where we started.

NOW!!!! This is important so pay extra attention.

Since both Bush and Obama was more hell bent on rewarding all of the bad risky behaviors with bailouts, mulligans, and more cheap and easy government backed loans. And really didn't hash out a more robust prudent SOP going forward with mortgages, and since all reaction to the market collapse was reactionary. Since we did not yield hard rules that will prevent further bubbles and economic catastrophes. Then History is destined to repeat its self.

But something tells me, that there's more in Washington on both sides of the isles that would love nothing more. It made a SHITLOAD of Political Activist 1%'ers the last time. ANd people are so stupid those same people making out like bandits can rally the people being evicted from their over priced homes to march and protest in the brutal snows of April.
And still have time to talk to you about global warming.