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Time for the other American political party to pick up the "nah it's just negative media, people still have money and food" drum! Sure, many people (in an abso
by majormajor 8mo ago
Time for the other American political party to pick up the "nah it's just negative media, people still have money and food" drum!
Sure, many people (in an absolute-number sense) are in no immediate risk of crisis. But many are.
Economic policy for 40+ years has been shifting both income and wealth largely to the already-haves with massive knock-on effects on the general affordability and comfort for everybody else. The flow of money into small sets of assets and investments distorts the "inflation" measurements and we find ways to ignore it. Buy groceries instead of eating out! Just let the median household's kids work more too, in some red states! That part of the story has been going on for a long time, and the actual-Covid-inflation just drew more attention to the trend.
People were talking about it long before Covid, but the Covid bullwhip and the complete lack of foresight or management[0] of the situation pushed it into a new, noticably-worse-normal overnight. While before we were just boiling the frog and blaming avocado toast for millenials not buying houses or having kids yet. Some good math in the post about the concrete part of this vs just "vibe" parts, especially re: the behavior of the lower-income end of the economy.
But you can't have a viable consumer economy when everyone with power is squeezing the consumer tighter and tighter. We've been papering over this problem by making stuff free-with-ads but eventually there won't be enough buying power left in a large enough non-broke cohort to keep the system working for anybody.
[0] "you think maybe people will want more of the stuff they bought before, and less Pelotons, in a two years?? No way! Buy Zoom stock!"
- randycupertino 8mo agoI saw a thing in Wall Street Journal today about how millennials are "splurging on rotisserie chicken." > “Gen Zers and millennials are swimming in student debt and may never own homes, but they’re splurging on gut-healthy juices and rotisserie chickens.” https://offthefrontpage.com/the-wall-street-journal-gets-community-noted-for-saying-gen-zers-and-millennials-are-splurging-on-rotisserie-chickens/ https://offthefrontpage.com/the-wall-street-journal-gets-com...
- throwup238 8mo agoAren’t rotisserie chickens one of the #1 grocery store loss leaders?
- bombcar 8mo agoSome places like Costco - yes. Other places have them priced high enough that I think they make money on them. (The trick is they take the unsold ones and strip the meat off and sell it in the deli/sandwiches.)
- lumost 8mo agoIt's a good way for a grocer to minimize waste. When raw chicken gets close to sell by date, turn it into rotisserie chicken, when it doesn't sell - turn it into sandwiches and other products.
- xrd 8mo agoMy kids just remarked to me that a Costco rotisserie chicken was $4. I didn't believe them but I do now. I wonder how freezing that will thaw. That's a cheap food option.
- stevenwoo 8mo agoOn the /r/costco subreddit they talk about deboning it the moment they get home and then setting aside the bits for pre planned meals(here’s where one would slice then freeze). The bones can be used for making stock.
- deleted 8mo ago[deleted]
- majormajor 8mo agoYeah, that's been the typical attitude for well over a decade now from the older generations who didn't have the same struggles and don't imagine that things have actually changed. Even if we read that as generously as possible - "wow, look at how many millennials buy $20 Erewhon smoothies" - it's a wildly stupid play to couple that to how many millennials are in debt and can't afford homes. Nobody said no millennials can afford homes. Nobody said they are all broke. Plenty of businesses out there are still capitalizing off the higher end of the range. But at almost every percentile they're worse off than their parents were, economically. And probably working more hours to get there.
- wiredpancake 8mo agoIf you are <30 and are not in a trade related field, you will likely be unable to purchase a home in your life time. Banks in Australia are now denying University Graduates, including those like myself in IT Industries, home loans due to increased risk of AI replacement in various workforces.
- seemaze 8mo agoWhere I shop, rotisserie chickens are 1/2 the price of a raw whole chicken.. Is the largest produced (by volume) source of animal protein in the US considered a luxury item?
- Larrikin 8mo ago[flagged]
- catlover76 8mo ago[dead]
- EPWN3D 8mo agoRotisserie chickens are a great deal. Lots of calories and protein, and you can save the carcass to make stock. They're cheap relative to restaurant food as well.