I’ll admit I’m a high income earner. I’ve never had to watch watch what I spend but recently even I’ve noticed increases in everything.
Groceries have doubled from what I paid in 2019. I buy almost the same thing every week and I compared.
Dining out has become much more expensive. Places I used to consider a good value are now expensive.
I ordered a basic meal the other day at a local place. A cheeseburger. Fries. Drink and my friend had a salad. It was almost 59 dollars. Six months ago it was around 30 dollars.
So now I have to watch my spending as everything has increased
Shareholders are key investors and are the principal drivers of M&A and infrastructure investment.
Disagreeing with the idea that companies exist to drive shareholder returns does not change the actual purpose of shareholders, nor suddenly cause them to be rent-seekers.
How did they get that capital to invest I wonder? The simple answer is that they obtained it through a chain of underpayment of workers for the true value they produce, thus creating a profit. Investors are simply people with wealth who put some of that wealth at risk in the hopes of increasing that wealth by exploiting workers.
The only inherent value an investor has is taking risks, but the risks they take are rarely material risks. Most of these investors have diverse portfolios and are unlikely to see their quality of life affected in any meaningful way if they are in any way financially responsible.
You brought an economics argument to a rage thread. OP isn’t making a technical claim when they say “rent seeking behavior”, they’re angry and using it as a synonym for “greedy people”.
Some jackass buying a bunch of shares that were already issued and then flipping them for a profit isn’t doing shit other than enriching themselves. You might as well argue that scalpers are important. Oh wait, I have seen that brain-dead argument with “pRoViDeS LiQuIdItY!!1”
Ah yes, the people are angry about things they have every reason to be angry about. Thank goodness someone used a shallow pseudointellectual argument that glosses over basic truths!
Yeah except the workers never get the increase in pay you tool. Both Dems and Republicans in office actively help this happening, progressive Dems are the ones that give a damn
I’m just below the median income for my area. Before the pandemic, I was comfortable. I largely didn’t have to worry about expenses, I could dine out a few times a month, cook meat more than once a week, buy a few hobby luxuries every few months. Could air travel for vacation once a year.
I drive a newish economy sedan, live in a decent area with one roommate, didn’t have all that much but the 401(k) looked good and I had all I wanted.
Now things are tight. Just the other week, went to a bar that sold a damn good burger for $9 with fries. Could have a beer with it and get out under $20. The damn hamburger is $18 now and the beer doubled in price. I try to buy meat twice a month to eat, but my diet is far more bean and lentil based now. Eggs, while doubly more, are still cheap enough to be a frequent protein. My vacations are all at home now. I’ve taken to enjoying fishing, which is admittedly great, but I used to fly to Europe or other parts of the US once a year.
I do not know how folks on minimum wage get by here. Without forming a support network of other minimum wage workers to pool for rent and groceries, it has to be an insane struggle.
If this is the “improving economy”, I don’t want any of it.
I eat out often for work and my company picks up the tab. Part of why I didn’t notice for awhile.
I went to buy eggs and they were like 12 dollars. I could have swore eggs were a lot cheaper in the past.
I eat more hamburgers than I should and that’s where I’ve started to notice the crazy pricing. Like you said you could get a burger and beer for under 20. I use to pay 20 with tip and the tip was over 20%.
I’m a republican but we need to seriously raise the minimum wage.
Uh, you might wanna consider if being a Republican is more important to you than not living in a country full of homeless starving people is before you cast your next vote.
Most of your fellow Republicans believe deep down in the abolishment of the minimum wage, and are adamantly against ever raising it again.
That’s more of a myth. You do not see that in the party platform. Historically they’re been concerned about the inflation risk with raising minimum wage.
Inflation is so bad now, someone needs to do something. Neither party is addressing the issue.
Every single Senate Republican voted against raising the minimum wage to $15, all but 3 House Republicans did the same. It wasn’t really a surprise political result to anyone, nor will it be surprising when they all vote against it again.
Historically they’re been concerned about the inflation risk with raising minimum wage.
So inflation is bad already. They blame rising wages for inflation, and you think they’re going to raise the minimum wage? Why? Is there something in the party platform about raising the minimum wage?
I highly doubt there is, and I highly doubt that if they got more power that that’s what they’d do.
Me and a partner got fish and chips at a bar yesterday, one app, no drinks, cost us fucking $80. Good fish and chips but like not that good… When I first moved here I was making enough to eat out basically every day and not notice it. I’ve gotten two raises since then but everything is going up in cost so much if I go out twice a week I’m straining my bank account. I’m used to being poor this job was a complete game changer for me but I’m already noticing I’m starting to pick up habits again from when I was making like 1/3 as much as I do now.
I’ll admit I’m a high income earner. I’ve never had to watch watch what I spend but recently even I’ve noticed increases in everything.
Groceries have doubled from what I paid in 2019. I buy almost the same thing every week and I compared.
Dining out has become much more expensive. Places I used to consider a good value are now expensive.
I ordered a basic meal the other day at a local place. A cheeseburger. Fries. Drink and my friend had a salad. It was almost 59 dollars. Six months ago it was around 30 dollars.
So now I have to watch my spending as everything has increased
Dining out is CRAZY now.
My wife and I were out and about last weekend and needed to eat so we hit a Burger King.
Meals for 2, nothing crazy, was $30… at freaking BURGER KING. We don’t even have a sales tax here.
Workers wanted an increase in pay, so shareholders needed to offset that by even more. Workers can’t get a raise without shareholders getting a raise.
Inflation is majority driven by profit, not wages. Dems barely attack that angle. Republicans actively work against it.
Shareholders don’t need to offset shit. They’re just greedy rent seeking bastards.
Sorry, didn’t mean to word it as support. Just wording it as the reality of what they think.
Shareholders provide economic value (it’s literally in the name) and are not rent-seeking by definition
Pray tell. How?
Shareholders are key investors and are the principal drivers of M&A and infrastructure investment.
Disagreeing with the idea that companies exist to drive shareholder returns does not change the actual purpose of shareholders, nor suddenly cause them to be rent-seekers.
How did they get that capital to invest I wonder? The simple answer is that they obtained it through a chain of underpayment of workers for the true value they produce, thus creating a profit. Investors are simply people with wealth who put some of that wealth at risk in the hopes of increasing that wealth by exploiting workers.
The only inherent value an investor has is taking risks, but the risks they take are rarely material risks. Most of these investors have diverse portfolios and are unlikely to see their quality of life affected in any meaningful way if they are in any way financially responsible.
Yeah sorry man I have first hand experience in senior leadership, and your weird commie take isn’t gonna hold water with me.
You brought an economics argument to a rage thread. OP isn’t making a technical claim when they say “rent seeking behavior”, they’re angry and using it as a synonym for “greedy people”.
Some jackass buying a bunch of shares that were already issued and then flipping them for a profit isn’t doing shit other than enriching themselves. You might as well argue that scalpers are important. Oh wait, I have seen that brain-dead argument with “pRoViDeS LiQuIdItY!!1”
Ah yes, the people are angry about things they have every reason to be angry about. Thank goodness someone used a shallow pseudointellectual argument that glosses over basic truths!
I don’t tilt at these windmills for the people arguing nonsense, but for people scrolling by.
Yeah except the workers never get the increase in pay you tool. Both Dems and Republicans in office actively help this happening, progressive Dems are the ones that give a damn
That burger was probably 2 dollars of ingredients before profit
Restaurants have among the lowest profit margins of any industry.
I know by definition “restaurant” can be a fast-food place, but genuine restaurants are what you meant. Fast-food joints do not operate this way.
Even BKs margins of 18% do not account for a $28 markup, as was suggested above.
You are correct that I was misattributing casual dining margins tho. That was a neat rabbit hole I went down.
$2 ingredients, $55 labor, $2 profit most likely
$21 was the bill for 4 people to eat fast food for lunch in my part of the USA today.
Y’all are paying too much for fast food, it’s not worth that.
Where y’at?
Bumfuck Ohio
I’m just below the median income for my area. Before the pandemic, I was comfortable. I largely didn’t have to worry about expenses, I could dine out a few times a month, cook meat more than once a week, buy a few hobby luxuries every few months. Could air travel for vacation once a year.
I drive a newish economy sedan, live in a decent area with one roommate, didn’t have all that much but the 401(k) looked good and I had all I wanted.
Now things are tight. Just the other week, went to a bar that sold a damn good burger for $9 with fries. Could have a beer with it and get out under $20. The damn hamburger is $18 now and the beer doubled in price. I try to buy meat twice a month to eat, but my diet is far more bean and lentil based now. Eggs, while doubly more, are still cheap enough to be a frequent protein. My vacations are all at home now. I’ve taken to enjoying fishing, which is admittedly great, but I used to fly to Europe or other parts of the US once a year.
I do not know how folks on minimum wage get by here. Without forming a support network of other minimum wage workers to pool for rent and groceries, it has to be an insane struggle.
If this is the “improving economy”, I don’t want any of it.
I eat out often for work and my company picks up the tab. Part of why I didn’t notice for awhile.
I went to buy eggs and they were like 12 dollars. I could have swore eggs were a lot cheaper in the past.
I eat more hamburgers than I should and that’s where I’ve started to notice the crazy pricing. Like you said you could get a burger and beer for under 20. I use to pay 20 with tip and the tip was over 20%.
I can’t do that anymore.
Man some things have really hit the “I mean, it’s one banana, Michael. What could it cost? $10?” levels of ridiculousness price wise.
Since I buy almost the same thing. I don’t pay attention to the cost per item. I just watch the total at the end.
My groceries went from about 80 a week to about 150-180 a week.
I have no clue how the average family is handling this. It’s become so insane even I’ve noticed.
I’m a republican but we need to seriously raise the minimum wage. There is no way anyone can survive on it.
It’s almost 14 here and you can’t survive on that.
Uh, you might wanna consider if being a Republican is more important to you than not living in a country full of homeless starving people is before you cast your next vote.
Most of your fellow Republicans believe deep down in the abolishment of the minimum wage, and are adamantly against ever raising it again.
That’s more of a myth. You do not see that in the party platform. Historically they’re been concerned about the inflation risk with raising minimum wage.
Inflation is so bad now, someone needs to do something. Neither party is addressing the issue.
Every single Senate Republican voted against raising the minimum wage to $15, all but 3 House Republicans did the same. It wasn’t really a surprise political result to anyone, nor will it be surprising when they all vote against it again.
So inflation is bad already. They blame rising wages for inflation, and you think they’re going to raise the minimum wage? Why? Is there something in the party platform about raising the minimum wage?
I highly doubt there is, and I highly doubt that if they got more power that that’s what they’d do.
https://www.hawley.senate.gov/hawley-announces-legislation-require-15-minimum-wage-billion-dollar-corporations#:~:text=Today U.S. Senator Josh Hawley,their employees %2415 per hour.
https://www.hawley.senate.gov/senator-hawley-announces-blue-collar-bonus-pay-raise-american-workers
Guess you don’t actually read what republicans are trying to get done. You just want to say republicans bad.
I’m not a fan of Hawley for other reasons but he’s been pushing a lot of good ideas when it comes to the middle class.
Me and a partner got fish and chips at a bar yesterday, one app, no drinks, cost us fucking $80. Good fish and chips but like not that good… When I first moved here I was making enough to eat out basically every day and not notice it. I’ve gotten two raises since then but everything is going up in cost so much if I go out twice a week I’m straining my bank account. I’m used to being poor this job was a complete game changer for me but I’m already noticing I’m starting to pick up habits again from when I was making like 1/3 as much as I do now.
Visiting Europe and prices are so freaking cheap for everything it feels like I’m in a different decade.
Someone was telling me they bought 3 carrots for SIX FUCKING PENCE in the UK when they visited a few months ago.
America is so fucked, I don’t care what the office of the president says
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I spent $500 at Costco last weekend this shit is out of control.
That’s why I avoid Costco. I always spend to much there.
What country? Cause those prices seem ridiculously high for the US, unless those are fine dining prices these days
United States Oregon and Illinois.
And no, not fine dining by any means.
From their username, looks like Oregon in the US.