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Half decade sounds longer than 5 years. Someone could have started highschool, and by the end of highschool be in a completely different price market than before. 5 years is way too quick for these things to change that much.
Half decade sounds longer than 5 years
Only if you have no clue how long a decade is (10 years).
Me who started driving in 2001 and then saw gas prices double before I was out of hs. Then the great recession happened when I finally got out on my own and gas was even more expensive than it is now and companies had started raising prices like crazy with the excuse that fuel prices were high. It’s also when shrinkflation started happening. Good jobs were also unobtainable because people postponed retirement for years after the recession. I didn’t get anything decent until around 10 years ago, and now I feel like I’m back where I was when I was 21 working at McDonald’s.
And they can get away with it because your average voter only cares about whatever culture war nonsense Fox tells them to be angry about
“Idc about cost of living nonsense when there’s migrants caravans at the boarder and kids are being transed!!!”
I am and old millennial and have pretty much considered my wife and I somewhat upper middle class. We never paid attention to grocery prices, took a vacation every year and were able to put away money for retirement. And while I am fortunate enough to still be doing well, that comfort and buffer we had has all but dissappeared in the pandemic.
Well say thanks to the government in 2020 that printed half of all dollars in existence today. Small government my ass
I mean they’ve been printing bailout checks for big oil for a long, long time.
there was a depression and the 1% used it the further centralize profits. That is by far the biggest contributor to this situation
Where did the money go? I doubt it went into the hands of the average person who then decided to overpay for everything.
They stole our future from us and gave us some meager stimulus checks.
Trillions went into the hands of corporations.
Yeah, that was one of their more boneheaded moves. 🤦
I used to love getting the dollar menu stuff from McDonald’s and idk if it’s that I turned 30 and suddenly started feeling grumpy about everything but I refuse to go there now that their prices are like this for a “value menu”.
The gaslighting bothers me the most. “The soft landing worked! The economy is great! Look at all these jobs!” Are they good jobs? Do they pay enough to live? Why has the price of everything gone up so much? It’s eerie being lied to on such a massive scale like this. Very much a superb example of “don’t piss in my ear and tell me it’s raining.”
Since the Great Depression (about a century ago!) The US government has been fudging the numbers so that the economy looks better than it is. Inflation, unemployment, wages, etc. are qualifed with modifiers (because why count anyone who stopped looking for work?).
The system intends to gaslight us and convince us the economy is doing great. We’re down on our luck, or we suck and deserve to be on the brink of homelessness and starvation.
After all, if our government was transparent with us, we might see it’s not all because of corporate greed and anticompetitive markets. We might realize regulatory capture has real consequences. We might pressure the government to actually serve the pubic and install some effective social safety nets. And then the companies would have to pay us living wages for short work weeks and provide a non-toxic, non-hazardous work environment.
And our plutocrats won’t have that.
The unemployment rate has plummeted ever since we started counting jobs per capita instead of employed individuals! It’s been below -50% ever since!
The CPI is not the economy, the stock market is not the economy, wages and unemployment are not the economy, there is no one measure that effectively captures what’s happening with the economy.
This exactly, and the people making policy are so far out of touch that they don’t even have a friend of a friend that’s as impacted as we are by this insane inflation.
Worst thing is, we weren’t getting cost of living increases before inflation went batshit.
I mean, they are out of touch, but don’t believe for a second that they don’t know what they’re doing.
For example, why would a politican regulate the housing market and bolster tenants’ rights when they and a bunch of their buddies are making bank?
There is the Consumer Sentiment Index which at least tries to quantify what people are feeling about the economy. According to the recent report, 48% of consumers expect bad times in the year ahead for business conditions, which is down from the high of June 2022 when 79% of consumers expected challenging times ahead for the economy.
Oof indeed. It’s hard to think back to June 2022, but I’d have to imagine some of the sentiment increases are due to supply chain shortages getting worked out.
Personally as someone in tech, it feels like with interest rates going up, a lot of investments in technology companies have dried up. Looking back, mid 2010s was low interest rates and it seemed like there was more money being invested, without the focus of immediate profit. Now it feels like the screws are being tightened and every cent they can extract out of customers is being taken advantage of, regardless if that is overall good for the product or company.
Exactly. There may be a numerous jobs, but do they pay well?
It’s purposeful. The system is collapsing and the only option they have is to lie to people to convince them to continue participating.
If you are eating fast food and you give a shit if the price goes up you already lost.
“you now have to spend more money to survive” -> “people are now spending more money” -> “the GDP is going up” -> “the economy is doing well!”
and this is why we micro farm and raise chickens.
But they said Genocide Joe fixed the economy and we have Jawbs and housing now
Corporate greedflation.
I was gonna say, this post seems pretty disingenuous to blame “every public figurehead” for corporate greed. Maybe if we better taxed and regulated those companies this wouldn’t be happening. If only some public figureheads had literally that exact platform.
Considering greedy corporations are lobbying (bribing) public figure heads, it’s not far off.
Then the party of campaign and political finance reform would be the obvious choice.
lol oh is it? Which party is that again?
I don’t know what country you even live in, mate. If it’s the USA then look up “HR 1 For The People Act”.
Ok and? This act has nothing to do with financial reform.
If you think this changes anything then I have a bridge to sell you.
It literally does, though?
Passed House (03/03/2021) For the People Act of 2021 This bill addresses voter access, election integrity and security, campaign finance, and ethics for the three branches of government. Specifically, the bill expands voter registration (e.g., automatic and same-day registration) and voting access (e.g., vote-by-mail and early voting). It also limits removing voters from voter rolls. The bill requires states to establish independent redistricting commissions to carry out congressional redistricting. Additionally, the bill sets forth provisions related to election security, including sharing intelligence information with state election officials, supporting states in securing their election systems, developing a national strategy to protect U.S. democratic institutions, establishing in the legislative branch the National Commission to Protect United States Democratic Institutions, and other provisions to improve the cybersecurity of election systems. Further, the bill addresses campaign finance, including by expanding the prohibition on campaign spending by foreign nationals, requiring additional disclosure of campaign-related fundraising and spending, requiring additional disclaimers regarding certain political advertising, and establishing an alternative campaign funding system for certain federal offices. The bill addresses ethics in all three branches of government, including by requiring a code of conduct for Supreme Court Justices, prohibiting Members of the House from serving on the board of a for-profit entity, and establishing additional conflict-of-interest and ethics provisions for federal employees and the White House. The bill requires the President, the Vice President, and certain candidates for those offices to disclose 10 years of tax returns.It was a partisan DNC bill that immediately passed the house upon them gaining a majority.
Let’s be real, the $13 trillion printed in the blink of an eye doesn’t help.
2023 = “$166.6 billion to $190.5 billion” citation: https://www.federalreserve.gov/paymentsystems/2023_currency_print_order_revised.htm#:~:text=The revised print order increases,%24166.6 billion to %24190.5 billion.
You think that’s when this started? For the love of God.
Wow, you can’t even understand a basic graph and what it covers. News flash, it’s NOT just printed currency.
“Printing” money is used as a colloquial umbrella term to cover all expansive monetary policy, but I have a feeling you already knew that captain pedantic
Would help a lot more if we had equitable distribution of wealth
We’re all equal in death
BuT tHe EcOnOmY iS bOoMiNg!
In school we learned that when the economy “booms” or is at its current high point, everyone, excluding very rich people, are doing worse. Most of humanity (like 95%) are better off when the economy is doing poorly, as goods tend to get cheaper. Just something I wanted to share.
“the economy” can be replaced with “rich pepole’s yacht money”
“Rich people’s yacht money is at an all time high!”
“trickle down economy” All the trash will magically trickle down from their yachts onto the beaches and onto our plates!
Most of humanity (like 95%) are better off when the economy is doing poorly, as goods tend to get cheaper.
They’re cheaper because people are buying less.
People are buying less because they don’t have the money to buy more.
They don’t have the money because they’re out of a job.
They’re out of a job because the economy is in the toilet.
The super rich also love recessions. They still have money. If they want to acquire a company, they can do it for cheaper. The GCF of 2007-2009 is considered to be one of the largest wealth transfers and wealth consolidations in history.
On average the economy is doing good but people don’t live in averages, especially if the average is skewed by billionaires.
This dudes reference is literally a capitalist giant bullshit product with completely imaginary prices.
Like, McDumb raising random prices is no clear indication of inflation. Rice, noodles and stuff are
I think the Big Mac index is a somewhat good measure of buying power since it has to source so many local ingredients.
Tell that to the extreme poor who are dependent on McChickens to survive
This seems like a bad example, there is a good video by modern MBA on taco bells value menu that mentions McDonald’s losing money with the dollar menu
Figures, the price hike was probably long overdue. Sucks that it hits so hard now but it is what it is
I find it hard to believe McDonald’s was losing money on the dollar menu items. Considering they owned the entire process from factory, shipping, to restaurant. Back in the 90’s even I know the fountain drinks alone were insanely profitable.
If I recall correctly, taco bell started the value menu war but they made items that were designed to be priced at one dollar. Burger King, Wendys, and McDonald’s discounted existing items that cut into their previous prices in response.
They might not “lose money” per McChicken sold but if they’re not gaining a certain dollar amount per hour/week/month/etc that particular McDonalds restaurant might lose money over time.
Take two burger places, one of them makes 20 cents on every burger, while the other makes a dollar and 20 cents on every burger. Even if the latter one gets a bit less traffic it’s absolutely going to out perform the former.
This can suck but… if can also be the reality of the situation. A sandwich (even a small one) being a single dollar is likely way below McDonalds usual margin, and unless you’re demanding an immediate People’s Revolution of fast food restaurants they’re going to run the numbers and make the most profitable locations they can.
I mean, I worked there. I was there when the beany baby craze was in full effect. The profit margins even back then were huge since they control the entire supply line. Never thought I’d see the day people come out to be apologists for McDonalds.
Their revenue from 2002 when they introduced the dollar menu meal was $15.40 B. Then climbed to 20 billion by 2005 and has bounced between 20 to 28 billion every year since except for 2020 where they dipped to 19 billion. They are far ahead of https://companiesmarketcap.com/mcdonald/revenue/ https://www.macrotrends.net/stocks/charts/MCD/mcdonalds/gross-profit
Why I’m getting downvoted because a video (that wasn’t linked) had someone talking about a Yum! branded company (Taco Bell) whos profits tanked in 2016 (from $13B to $1.89B) mentioned McDonalds… who’s not seen any sort of comparable problems as based on the links I provided… is beyond me.
It’s not really “shilling for a company” to understand that price increases for products (especially “value” products) do not often perfectly follow country-wide overall inflation percentages
Sorry, I think this is the video https://youtu.be/WKh85_81US0
Interestingly, taco bells lower performance gave them more freedom
Here is an alternative Piped link(s):
https://piped.video/WKh85_81US0
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I’m open-source; check me out at GitHub.
.Not a meal - that’s just the burger. $8.30 AUD (5.42usd). Ridiculous.
How in the actual fuck are you all surviving down there? Are you like hunting down the kangaroos for sustenance?
It’s my understanding that kangaroos are plentiful. I’ve had kangaroo meat and it’s pretty tasty, like very lean beef.
I was in Cincinnati a long time ago and they have this insane and awesome (in the true sense of the word) supermarket called Jungle Jim’s and they had kangaroo meat, but I didn’t trust the hotel freezer, so I didn’t buy it. I regret it now, although I don’t eat meat anymore. I don’t know, maybe I’d make an exception just once just to try kangaroo. It would be very hard to resist.
Give me 5 bees for a quarter
Which was the style at the time…
I wonder how much of this is the fault of food delivery apps. I’ve heard multiple people who run a small restaurant or food cart complaining that those apps as part of their terms/contract wouldn’t let you price up your menu items in-app to cover the % cut they take. during pandemic when app orders become the majority of your business, it makes sense to price up the items to include uber’s cut across the board and just incorporate it into your cost model.
man i hate food delivery apps. theyre shitty to their employees and shitty to businesses; they just feel like a leech on society
Is that how all the ghost kitchens got started?
