Gas prices are going down, and that's bad news for the economy.
Huh?
Unfortunately, that's true. The Associated Press reports today that experts predict the price will drop even more in coming weeks, anywhere from a dime to 25 cents per gallon.
It seems a lot of economists and analysts are fearing the double-dip recession -- a recession followed by a short-lived recovery and then back to another recession.
The national average price for a gallon of gas is $2.70. In the Metro East, I saw gas for $2.58 or $2.60 at several stations on my way to work. And I see it all around the St. Louis side for $2.45 or so a gallon.
But the reason prices are going down is weak demand. And that means for a lot of people, they don't feel they have much discretionary income and aren't taking any trips.
How are you feeling about falling gas prices and the economy overall? It seems plenty of people are still nothing but nervous about their job security, paying their bills and saving for emergencies. Are you worried about one or all of these things?
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