CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Wednesday, October 22, 2008
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
Previous Posts
- The Greenback Hits At Two-Year High
- What Credit Crisis?
- Odds For Obama Now 6.2 To 1 On Intrade
- 1 Of 3 States Have Jobless Rates Below 5%
- King Dollar: The Greenback Makes A Comeback
- Political Hypocrisy: Do As I Say, Not As I Do
- UK Pay Gap Based on Personal Lifestyle Choices: Li...
- Falling Gas Prices: A Tax Cut of Massive Proportions
- The Magic Word: "Change"
- Life in the Blogosphere: The Feedback Can Be Insta...
3 Comments:
And with gas prices lower, expect prices across the board to go down.
Why? Because the cost of transporting goods has gone down. Any sensibly run company will find a way to pass savings on to the consumer, or lose customers.
Lower gas prices also means that the cost of other oil based products has gone down as well. Which means the price of making stuff has gone down. With a lower cost of manufacturing and distribution it means manufacturers and producers can afford to lower prices. Indeed, it will be necessary for producers to lower prices or lose customers. The first company to slash prices will make out like a bandit.
So the consumer is going to find himself with extra cash. What is he going to do with that extra cash? Spend it, of course. The cost of oil remains low you're going to see a boom to beat all previous booms.
Gas still over $3.00 a gallon in California.
"Gas still over $3.00 a gallon in California"...
Well that's what liberals do, raise taxes but make sure that nothing gets done...
California also has the highest state gasoline tax in the nation
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