McDonald’s earnings, revenue miss estimates as consumer pullback worsens
McDonald’s earnings, revenue miss estimates as consumer pullback worsens
McDonald's stock has fallen 15% year to date, dragging its market value down to $181.2 billion.
Looks like McDonald's is reaping what it sowed. Shit food at shit prices and no one wants to buy?! SHOCKER.
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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.
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.
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.
Not to mention the mounds of debt people are dragging around that they are unable to pay off
My mound is small, but it certainly weighs on me. I can't imagine how people worse off would feel.
