4 ms·
Let’s see. McDonald’s sales and income both grew this quarter. Net income was nearly $2B. That’s $2B, after costs, that consumers don’t have in their pockets, b
by noahtallen 2y ago
Let’s see. McDonald’s sales and income both grew this quarter. Net income was nearly $2B. That’s $2B, after costs, that consumers don’t have in their pockets, but investors and executives have in theirs. I find it impossible to call this “hit hard,” and even harder to keep a straight face when these megacorps think they have a right (or that it’s even fundamentally possible) to grow the rate of profit growth forever.
Turns out when you take $2B from consumers and put it into investor’s pockets, less money is available to spend on consumer goods next month. Who woulda thunk.
- dweinus 2y agoThis. "Since 2014, it has raised its menu prices by 100%" ... during the same time period, US inflation has been 32%.
- penjelly 2y agoin canada theyve gone full gimmick, the previously dollar menu, is now like 3$, they wont let you combo these items anymore either so youre forced to pay like 3-4$ more dollars for fries and 2$ for the drink if you combo it yourself. that and they introduce a new nugget sauce and charge an extra 5$ because its limited edition
- aeternum 2y agoMost investors in McDonalds are institutional and thus it's people's retirement and 401k money. That is generally actively used by people, and injected back into the economy. As long as population or automation continues to increase, profit rates can continue to grow. McDonalds and other large fast food chains were hit hard recently, not by general inflation but by specific legislation targeting them, forcing wage increases above general minimum wage increases. Pretty unfair by rational standards but everyone hates greedy corporate mcdonalds so easy to pass.