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MagicShel ,

I don’t care other than economy is a powerful predictor of election outcome. I think we are due for a market contraction, and I’ve been out of work for 4 months, but I’m hoping it can hold on for another quarter.

Track_Shovel ,
@Track_Shovel@slrpnk.net avatar

Best of luck finding work.

I’m with you, in that I smell a recession. I don’t think it will be cataclysmic, but we have a lot of things pointing to some shrinkage:

Consumers are unhappy with greedflation

Housing is fucking expensive and no one has extra cash on hand

Multiple reports of a large percentage people not being able to make bills or worried about making them.

CobblerScholar ,

Not to mention the mounds of debt people are dragging around that they are unable to pay off

Track_Shovel ,
@Track_Shovel@slrpnk.net avatar

My mound is small, but it certainly weighs on me. I can’t imagine how people worse off would feel.

Telodzrum ,

Consumer spending continues to show growth and be positive. This is a McDonald’s and fast food generally contraction due to the industry’s greed – pricing of fast food has outstripped actual inflation drastically.

reflectedodds ,

The shareholders probably care, but to the layman, expecting 6.61 billion and only earning 6.49 billion doesn’t amount to much. They’re not going anywhere.

kate ,

as a shareholder i also do not care

kate ,

i had mcdonald’s for lunch today and was surprised how expensive it is now tbh. i know there’s no £1 cheese burger anymore but how is it £1.79

reddig33 ,

As a shareholder you should be concerned about high prices, poor service, and filthy stores. Not sure why anyone would want to pay a premium for their product when there are much better options for the same prices.

kate ,

more concerned with how the large fries box seems half empty every time now 😡😡😡

JJROKCZ ,

No offense but you’re probably not holding enough shares for them to care. Unless you own double digit percentages of the company then they couldn’t give a fuck what you think.

hark ,
@hark@lemmy.world avatar

Looking at the stock price movement today, it doesn’t seem like the shareholders care, in fact it went up a significant amount probably because they were thinking it’d be worse. They’ll care if it continues to get worse, but for now they don’t seem to mind.

dactylotheca ,
@dactylotheca@suppo.fi avatar

I guess “consumer pullback” is one way to describe what’s going on with the economy…

solsangraal ,

and “consumer saying ‘hey waitaminute, i don’t actually need half the bullshit they’re telling me i can’t live without…’”

Telodzrum ,

The headline uses that term because consumer spending, across the economy as a whole, is up and a healthy amount. The “pullback” appears to be in select subsectors where price increases have drastically outstripped core inflation and/or specific companies who have done so without regard for competitors’ pricing.

hydrospanner ,

Thank you.

It shouldn’t (still) surprise me, but it always does…when people do drastically misunderstand or misinterpret economic information.

CleoTheWizard ,
@CleoTheWizard@lemmy.world avatar

In fairness, this is a new development as far as economics goes. It’s very unusual that a fast food burger is as expensive as a sit down restaurant. Which is why we’ve used things such as the Big Mac index for understanding purchasing power. Prior to this, it was assumed that fast food was a kind of essential item that arrived at its lowest cost.

Psychodelic ,

What other consumer spending is up? Does that include rent and groceries? I mean, is that “increase” I spending not due to ridiculous amounts of “inflation” (read: corporate profits)?

(Can’t read the posted article since it blocks adblockers apparently)

Telodzrum ,

Real personal consumption expenditures is the most commonly used metric for “consumer spending” and it is adjusted against inflation. That is the number which is seeing 0.3-0.5% growth month over month, in 2024. There are other ways to measure consumer spending which are not adjusted against inflation or may only target baskets of goods.

corsicanguppy ,

(Can’t read the posted article since it blocks adblockers apparently)

archive.ph/10cGh

retrospectology ,
@retrospectology@lemmy.world avatar

Some talking heads on NPR were discussing the economy and how this was “the first time Millenials were seeing inflation” and how the economy is just waiting for consumers to “adjust”. This in the context of them also basically saying there needs to be more unemployment so wages don’t get higher.

It’s like victim blaming or something, corporations went on a price gouging spree during the pandemic and now we all have to learn to deal with it so Wallstreet can go back to business as usual, and they’re getting all pissy that people’s response is simply finding ways to spend less, instead of giving up their last nickle.

Funny how they never talk about corporations needing to tighten their belt or “adjust their expectations” to paying higher wages.

MediaBiasFactChecker Bot ,

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AlexanderESmith ,

Can we put the "thank you", "donate", and "beep boop" in a collapsed section too? That's a heck of a footer for basically the one line of data I'd otherwise want from this bot.

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