Posted on 06/21/2023 8:21:08 AM PDT by Kaiser8408a
This morning I wrote about the Renter’s Misery index with rents spiralling out of control for the middle class and low wage workers. Now let’s switch focus to the restaurant business which are suffering under Biden’s reign of economic error.
Two years of negative real wage growth, depleted savings, mounting credit card debt, and soaring interest rate payments put pressure on consumers’ wallets. This might lead to some consumers trading down to cheaper quick-serve restaurants, ditching casual-dining chains in the second half of this year, according to a new report.
Bloomberg Intelligence’s Michael Halen penned a new note titled “2H Restaurant Sales: Inflation Killing Appetites.” It outlines, “Consumer spending finally buckles under more than two years of inflation and price hikes,” and the likely result is a trade-down of casual-dining chains like Brinker and Cheesecake Factory for quick-service chains like McDonald’s and Wendy’s
With record credit card debt load and highest interest payments in years, plus depleted savings, oh yeah, and we forgot, the restart of student loan payments later this year, this all may signal a consumer spending slowdown at causal diners while many trade down for McDonald’s value menu. Even then, we’ve reported consumers have shown that menu items at the fast-food chain have become too expensive.
(Excerpt) Read more at confoundedinterest.net ...
“biden is killing us.“
…as intended…
Just anecdotal evidence, I was surprised the last time I went to a fast food type of establishment, at the price.
Bidenflation is affecting the cost of just about everything we buy.
Everything is going according to the plan. Don’t worry, it will be just fine, we won’t run out of money, they will print more as we need it...
$26 for my wife and I to go to Chick Fil A, 2 sandwiches, 2 small mac&cheese, 1 order of fries. !!!
Biden voters are a political version of the Heavens Gate cult. Economically, socially and culturally suicidal.
As well as stagnant incomes for non government workers. This election will be about the economy stupid, government corruption, the border, Ukraine, China and PC gone wild.
it’s ok, the elites will always get theirs and won’t have to put up with sharing space with the great unwashed. /S /S /S
“This might lead to some consumers trading down to cheaper quick-serve restaurants, ditching casual-dining chains in the second half of this year, according to a new report.”
I just started cooking more. No need to pay $20 for a lunch, I just cook a lot on the weekend and freeze it all in those meal prep trays and I am back to $6-7 for a meal, and it’s better than most restaurants anyway.
If things get really bad, I can break out my grandma’s Depression era recipes.
Well...Cuomo shut that down.
I see food prices at the local supermarkets have gone down. It grinds my behind that I go to my local diner and see a note that says there’s an egg shortage so they had to raise the prices. Meanwhile I go to Kroger where I can buy 18 eggs for $1.49. That’s a sale price (digital coupon required).
While they'd love to profit from labor and taxes on three prepared meals a day per person, there's only so much labor that can pay for it all and only so much labor that can staff it at low wages.
Worst NYS Governor ever, then came Hochul.
its not just restaurants- We can’t afford to eat like we used to from grocery stores- $50 back awhile got a person a goodly amount of groceries- today- Nope- a few items only- hamburger today cost nearly as much as NY strip steaks used to cost on sale not so many years ago=- (Of Course we wait till hamburger goes on sale now so the price isn’t so ridiculous)
Forget buying steak except for special occasions now- it’s almost entirely chicken and pork now-
Even stuff like fruit is gettign out of hand price-wise-
Thanks a lot biden!
Yes, $25+ at Five Guys! $15+ at McDonalds.
i stopped at Kentucky Fried chicken durign hte pandemic- and ordered 2 peices of chicken, a soda, and fries at the drive through, and the woman said “That’ll be $22 dollars please” I asked her to repeat, she said $22- i said “You have to be kidding me” and she said “No sir=- due to a chicken shortage, the prices have increased”
I wish i had been quicker on the response and said “Well, due to a money shortage, I will cancel my order” But i just cancelled without saying why and drove off- WHOLE Supermarket Chickens, all cooked- cost $5 at that time (uncooked was even cheaper), so that is what i ended up gettign that day
2 chicken crispy sandwiches at McDonald’s would be almost $15 now i believe- I’d rather go to Chic Filet though- but yeah, prices are gettign unreal-
“I just started cooking more. No need to pay $20 for a lunch, I just cook a lot on the weekend and freeze it all in those meal prep trays and I am back to $6-7 for a meal, and it’s better than most restaurants anyway.”
That’s the way to go if you have time. I do, but I’m retired. But I love to cook.
There are a few restaurants in town that make food better than I can, but I can cook delicious food. And I like to cook.
yea, $14 for a Wendy’s meal, no thanks. That same $14 in cold cuts provides me a week of lunches.
[[Biden voters are a political version of the Heavens Gate cult. Economically, socially and culturally suicidal.]]
Very good analogy- biden voters have been brainwashed AND gaslighted to think that they are part of a ‘problem’ when infact there isn’t any problem that man is responsible for (ie climate change- we are not causing it, but Heaven’s gate biden voters have been led to believe that they are)
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