UNEXPECTEDLY: Fall in gas prices hasn’t led to increased consumer spending. “Visa CFO Prabhu also said the company felt that the money being conserved at the pump was being funneled into savings accounts, a trend that has been backed up in various economic data reports. . . . But just a few months ago, the collapse in gas prices was supposed to be the next big thing for the US economy. Instead, it seems like nothing has happened.”

Maybe consumers realize that we can’t expect any real economic improvement until after January 2017 at the earliest.