121–130 of 192 posts
Thought it was going to be this one, which I enjoy using a lot and find useful for getting the big picture. https://inflationchart.com/cpi-in-bigmac https://inflationchart.com/spx-in-bigmac In the 70s you could work minimum wage for an hour and afford three Big Macs. Now you have to work almost an hour to afford one Big Mac.: https://inflationchart.com/minwage-in-bigmac
Earlier quoted context omitted.
The minimum wage one is next to useless. States and cities set their own minimum wages. Unemployed people or people on fixed income have wages of 0. This chart doesn't really describe any meaningful set of the population or how they are doing.
About 20 states have their minimum wage at the federal minimum wage. So the federal minimum does have a major impact on the actual minimum. I agree about the other part though.
More importantly, Big Mac Index is based on the average US price. But Big Macs in, say, Arkansas can be almost 40% cheaper than one from California. So it's really not fair to compare the federal minimum wage to the national price.
I don't see how this really works any more because a Big Mac is different in different countries. It's not an "identical" product being compared. You can use McDonald's own local nutrition calculators to confirm this. A Big Mac in the US is 550 calories, yet 508 calories in the UK (522 in Russia and a mere 498 in Switzerland, for comparison). Is it factored into the index that British fast food fans are getting 7.6%…
I think there's more to consider here too that makes it irrelevant in terms of currency comparison. Usually cheap stuff like bread is notoriously expensive in Switzerland for example, I'd assume because the price of labour is that high. As such the cost of making a big mac there is also more expensive, buying power is higher, so to meet demand and recoup labour costs the end prices are higher. Same for the other extr…
Take the inverse: in Germany, by and large, a hamburger is that thing you get at McDonalds. That Americans typically pay more than $2.00 for a hamburger is not a sign of high labour costs, but rather that they'll buy something better instead.
Thought it was going to be this one, which I enjoy using a lot and find useful for getting the big picture. https://inflationchart.com/cpi-in-bigmac https://inflationchart.com/spx-in-bigmac In the 70s you could work minimum wage for an hour and afford three Big Macs. Now you have to work almost an hour to afford one Big Mac.: https://inflationchart.com/minwage-in-bigmac
Earlier quoted context omitted.
Where I live, there was a brief period in 2020 when they didn't let people inside McDonald's, but otherwise they have always allowed dine-in. (However, I live in Singapore.)
Some fast-food places in the US went drive-through-only in 2020 and are still that way. I think if you're in the kind of rural or suburban place where almost everyone drives almost everywhere, then the drive-through does the majority of fast food business anyway, and many people who would have gone inside will switch to the drive-through rather than not buying your food, so the cost savings from not having to hire mo…
Earlier quoted context omitted.
Where in Europe is McDonalds a "hipster place"?
Apparently "central europe". In western and northern europe its certainly not a hipster placer.
I used this index two days ago: my siblings and I want to buy a present as a group, but we are split across multiple countries and it wasn't clear how to make a fair split. We ended up agreeing that everyone would contribute their local equivalent of ~7.3 Big Macs. The only minor correction needed was that the index lists the official dollar exchange price for some currencies while the real price is not even close to…
Not completely fair . In some countries Mcdonald is expensive hipster place (Japan, central europe).
Thought it was going to be this one, which I enjoy using a lot and find useful for getting the big picture. https://inflationchart.com/cpi-in-bigmac https://inflationchart.com/spx-in-bigmac In the 70s you could work minimum wage for an hour and afford three Big Macs. Now you have to work almost an hour to afford one Big Mac.: https://inflationchart.com/minwage-in-bigmac
https://www.marketwatch.com/story/the-stock-markets-rally-to...
Working hours to buy a stock on the S&P 500.