Big Ticket Fast Food

Yesterday I published some of musings centering-upon the inexplicable dichotomy of spending behavior and the economic outlook of American consumers.  A puzzling difference in perception versus reality.  Today I'll take one more swing at the subject and how erroneous information plays a role.

A year ago some dude visited a McDonald's in the town of Post Falls, Idaho and ordered a specialty double quarter pounder, large fries and a large soft drink.  The heart attack in a paper bag set him back $16.10.  Naturally, the millennial posted the receipt on TicTok. 

Inasmuch as millennials obtain much of their news and valuable information on TicTok the video went viral.  Following a brief hiatus the video has returned from the grave following the release of a quarterly revenue report by McDonald's.  Naturally the tabloids, conservative media sites and social media in general are peddling a narrative of inflation spreading like a raging wildfire including the myth that a Big Mac now costs almost $20.  This fast food price debacle is all a consequence of Biden's hamfisted mismanagement of the economy.  Yes, it is his damn fault.

I'm smart enough to know that the Idaho dude's Highly Caloric Happy Meal was a limited edition double quarter pounder "smokey" BLT novelty item with large fries and a large Sprite.  $16 just so happens to be the price of admission.  

This is a Big Mac

A modicum of searching reveals that the national average price of a Big Mac is $5.58; up from $4.89 or 69 cents since Biden arrived at the drive thru.  That's an increase of about 10 percent, a completely different menu item and nowhere close to $16.  The most expensive Big Mac can be found in Switzerland.  But I digress.

McDonald's is a vast multinational business that constitutes the largest fast food restaurant chain on the planet.  They serve more than 69 million customers every day in more than 100 countries from more than 40,275 outlets.  Employing 1.7 million McDonald's is the second largest employer in the United States.  Only Walmart employs more people.

I happen to believe that they have the pricing and marketing of burgers figured-out better than anyone.  For the love of God and all that is holy, the president of the United States does not set the price of a Big Mac any more than a gallon of gasoline.  Sheesh.

In closing I wish to share three relevant observations: 

• TicTok is a waste of valuable bandwidth.  It allows Communist Red China to spy on you and steal your data.  Use it at your own peril.
  

• McDonald's reported a third quarter revenue increase of 14%.  As a result, its net income soared by 17 percent to $2.3 billion.  That is called capitalism, folks.  And largely explains why I am a shareholder. 

• If you rely on the social media cesspool for your economic data you may be a moron.