71–80 of 227 posts
Having that said, I do work in market research and gather purchase data and create inflation models for a living and to be honest things look really scary from the US to UK+EU and Latin America (which is used to high inflation though). Who knew all that free money from the last decade would do that!
I’ve seen some people showing actual price increases they’ve seen in their local communities. For a lot of folks it’s much higher than is being reported. Here’s one from a person in Seattle: https://preview.redd.it/max54wqv9kb91.png?width=1112&format=...
That seems massively susceptible to sampling bias. eg. are you really reporting all of your costs, or only the costs that you noticed going up? Meanwhile BLS provides regional CPI numbers[1], which puts "Seattle-Tacoma-Bellevue WA" inflation at 10.1% between Jun 2021 and Jun 2022. https://www.bls.gov/regions/west/factsheet/consumer-price-in...
Some detail here: https://www.bls.gov/cpi/tables/relative-importance/2021.htm
> This year, Tyson Foods, the country’s largest meat processor, saw its first-quarter profits nearly double. Meanwhile, all over Texas, barbecue places have shut their doors: Two Sawers BBQ, in Floresville; 1836 BBQ, in New Braunfels; Brisket Bar-BQ, in Bellaire. Kinda curious what the long term plan is here for Tyson -- just sell directly to customers after all the restaurants have closed, I guess?
It's misleading to talk about profits purely in absolute terms. The profit margin could stay the same while the absolute number doubles. If you make $10 profit on $100 revenue one year (a 10% margin) and $20 profit on $200 revenue the next year (still a 10% margin), profits "doubled" but the profit margin stayed the same. When you add in the inflation and the fact that the $20 this year is not worth as much as $20 wa…
As others said: traffic goes down, restaurants close doors. Food prices may not be the culprit, people getting their meals from delivery and cooking at home may be the cause as well. Having that said, I do work in market research and gather purchase data and create inflation models for a living and to be honest things look really scary from the US to UK+EU and Latin America (which is used to high inflation though). W…
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> It says right in TFA article that the owner works other jobs to support himself. Both bee_rider and InefficientRed's comments were clearly about the general effect and not the specific restaurant mentioned in the article. Regardless, the fact that Rodriguez has to work another job to support himself doesn't make it a 'side project'. > Yes, I've heard of many of these. It's always a person who went to the place once…
> In 2020 a beloved Syrian cheese and dessert shop, owned by a refugee, was forcibly evicted because their land lord tripled their rent. The lot remains vacant to this day. Was this personally my fault for not buying enough cheese? Obviously every single instance of a restaurant closing is not going to be the same. Maybe the landlord hates Syrians. Maybe they're negotiating a deal where Starbucks will pay triple the…
Anyway, my point is that only focusing on the 'logic' and numbers misses the point. The myopic focus on short-term profits hurts the average person and their communities.
You asked in an earlier comment if we should "subsidize every business in existence that can't make the economics work on its own merits?" I am not necessarily saying that we should, but we ought to acknowledge that the economy is not a system based on merit. In addition to blatantly profiteering, many large companies have taken trillions from programs like PPP loans that were meant to protect jobs, and proceeded with layoffs or stock buybacks instead. That money not only comes from you and I, but it also affects our communities — people lose their jobs, and the record profit are shuffled away into tax havens.
Does the world _need_ a specialty cheese shop? No. But the larger collapse of small, locally owned businesses since 2020 is a worrying trend.
Sounds like inflation _and_ climate change. But they only talk about inflation.
Are you under the impression that droughts didn't happen in Texas until the 21st century? Can we stop calling all extreme weather climate change? It just gives talking points to the critics.
https://www.cbsnews.com/dfw/news/megadrought-texas-american-...
That’s rough, but when a business is no longer economically viable it’s probably time to close up shop.
I know it's unfair of me, but I'm imagining a default-dead early startup guy saying this while drinking the weird mushroom water, so thank you for that
Anyway, more importantly, what weird mushroom water? Is it any good?
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I mean I don't know if you'be been out eating any time in the previous 6 months, but fast food is no discount. Most mom-pop places comparable or cheaper than fast food.
I completely agree: in my neck of the woods, a breakfast combo at McDonalds now costs more than the incredible mom & pop places nearby. The problem is convenience and access. Fast food chains are ubiquitous and designed to be a quick and predictable choice for people. Mom & pop places don't tend to have large parking lots, or drive-thrus that people can line up around the block for. They also can't afford the margins…
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How are they that much? I pay $1.49 for 18 eggs at Kroger
Those must be really low quality eggs? The Costco ones are not quite the bottom tier.