Second, many people have been burned by the Great Recession. That time period changed the way people spend in the U.S., and they now hate debt, are cheap, buying more store brands. They like to save money and know that there is a sense that if they go bankrupt, they cannot be forgiven.
Read more from Mad Money with Jim Cramer
Cramer Remix: Worst garbage fund I've ever seen
Cramer: Not cautious? You're arrogant or clueless
Cramer: Only thing that can change oil prices now
Additionally, Cramer thinks the expense structure in the U.S. is worse than expected. There have been far fewer homes and apartments built than he thought there would be by now, and he attributed it to the fact that credit is so tight that only rich individuals and companies can even afford to build living spaces. As a result, rent prices have climbed higher because landlords know they can get away with it.
"I am always shocked at the many buildings I look at — because I love real estate — that are rentals, and the rents seem insane," Cramer said.
The final reason why oil prices haven't trickled into consumer spending is health care. Cramer thinks there too little competition among insurance companies, and the Affordable Care Act is unaffordable for everyone except those with no money.
Cramer keeps waiting for corporations to pick up the windfall from energy prices, but it just isn't happening. He could not name a single company that has received the benefit from lower crude costs.
"So, with the price of oil in the mid-$30s, we are stuck with the negative side of the ledger and no noticeable positives," Cramer said.
The money saved on energy costs is not being spent on the consumer level. It is not being saved on corporate profits. Cramer's concern is that lower energy savings are not working through the system the way he thought they would — and that is a huge negative for the economy, and what he expected by now.