The real issue is that it's just not worth it. The fast food places were never actually great, they were just cheap. When you take cheap away there is zero reason to ever go there.
I'm sorry, using California's minimum wage laws to justify why my east coast McDonalds charges more than Olive Garden for a meal is ridiculous. We're not that stupid.
@@robertnoble6661 This has been a problem since Bush. Prices and profit have been increasing exponentially since the late 90s, meanwhile, pay for employees? Hasn't gone up that much either.
@@nickfromm5315 You know these private corporations need to follow the rules too, right? these policies cause prices to soar, making purchasing materials or ingredients pricier not to mention gas, these companies need it to transport the goods to both manufacturing plant or stores.
@@Nineteenth Yeah natural inflation happens it's with in expectation, Biden let it inflate so much it's uncontrollable, printing money doesn't solve inflation it worsens it.
yeah $20 to put cold fries in a bag (with no napkins or ketchup) , and higher materials cost has nothing to do with it. McDonald's stock recently tanked! nobody's getting rich owning or operating McDonald's right now...
@@lainiwakura1776 yeah except that argument falls flat when you realize our own Senate also acknowledged this all the way back in 2018. Source: The Democratic Joint Economic Committee. www.jec.senate.gov/public/index.cfm/democrats/blog?ID=9877C1D4-3669-4D0C-B0B2-8A9098553ADA
Oh and that's not just fast food, this is across all industries. Especially real estate. Feel free to do literally just a 10 minute google search... I'll even tell you what to look up. "Compensation of employees vs. Corporate Profit." There are tons of graphs even going up to 2023... and the margin of wealth only increases.
@@briansguy If you want to employ someone then you pay them a living wage. If $20 is a living wage then you pay it. If you want slavery wages either your business isn't making enough money or you can go to a country that is okay with slave wages.
Right, you guys will just buy garbage at other places, like gas stations, Uber Eats and even the supermarket. I laugh at all the pretend health nuts on here.
@kommisar. I quit using Uber eats and any food delivery services years ago. The gas stations have the absolute worst food anywhere. I know bc I'm a truck driver. So that leaves the grocery store where plenty of healthy options can be found. Have a great Memorial Day everybody!
Solution, buy a lunch box and bring your food from home in an insulated bag. Problem solved. NO WAY I’m paying 20$ for trash food that will give me a heart attack anyways. Fast food being cheap was the only use it had, now it’s pointless.
That’s what we did in India. I remember some years ago when Mcdonalds had to close a few of their locations cause they started charging way higher prices and people were just not buying it. Now they’ve started discounts and deals on their app and it’s pretty cheap (as fast food should be). So yeah if the people stop buying they’ve got no option but to lower the prices overall.
While I sincerely believe in just not buying it, for some people ( their employees for one group), that's not an option. Food is not the only cost people are dealing with. Housing is a huge problem too. If you don't have a kitchen, it's hard to cook at home. Not suggesting that not buying junk isn't a good idea, but we need to solve more than this one problem. And yes, buying from your locally owned, non franchise shops of all kinds will keep more money circulating in your own community. Those economies of scale advantages all go uphill.
Literally, the kid working the register at our local McDonalds specifically said "this place is the most expensive McDonalds in (our city)...they pay us the same as the other places, so I dont know why. We're always busy." It isn't wages. I see you, corporate media.
It is wages tho because you paying someone based on what that product is worth if the burger is only worth $7 let's say that means you only have $7 to pay your employees and cover the cost of doing business licences cookware etcetera them asking $20 an hour where do you think the money comes from? If the product isnt worth the money how am I as a business owner going to pay you? We would have to sell alot of burgers.
@smokeybanks2195 . Have you ever owned a business? You make more money, meaning if you already had a sustainable business plan, then profit will go up in line with the increase of business. Leaving you a surplus of income to hire more staff and increase pay whilst also making more profit. That's generally how business growth works.
So they are choosing to either screw the employee or the consumer but never even consider cutting back on corporate profit that are going into shareholders pockets. Things like this is what will cause the collapse of Capitalism.
I work as GM at one of these places. Cost's about 40 cents to make a taco. They sell it for $1.40. Over the last year they raised prices 40%. They only raised wages by 4%. Food cost's did not raise anywhere near 36%. Where's all that extra cash going? Profits. In fact the owners are so stressed for cash that they bought 2 new stores the last year. This all ignores the fact our food quality has gone down drastically over the last 4 years to cheaper options, but they keep raising the prices. Edit: I also forgot to mention that we staff less people now and are required to put less of the daily sales to labor, and they never fix, or sometimes replace, equipment in the store anymore. They have the money, they just dont want to spend it unless absolutely necessary.
If what you said is true and they only go to profits then why are their margins thinner than ever? Seems like you're either lying or misrepresenting the data. Mcdonalds wages in my state alone raised 19% from jan 2020 to jan 2024. Seems like you're lying :)
2000% true GM here for a certain famous hot chicken chain, Profits have gotten to a point to where their stagnant and trying to appease shareholders/investors with unrealistic growth .... This will with 100% certainty come back and bite the chains in the ass cause eventually those middle class people will slow down and all the lower class people they shut out just simply wont return....Its absolutely greed not wages and the only people who will pay the price are my cooks/servers when I have to let them go cause corporate is ran by abuncha morons
Someone told me that the prices of fryer oil tripled since 2020, although I was really skeptical at the time. Is this possibly one of the contributing factors?
The collapse of fast food is a blessing to our health and budget. Greed has destroyed the simple operation of McDonald's that prided it self on "quality, service and value". You took sloppy food and tried to make a Starbucks style with upscale restaurant design. Now you can shutter them all.
Its more expensive to eat from the grocery store and get the essential fortified nutrients. If you think fast food is expensive, then grocery will soon follow the same suit.
The "greed" part is silly. If they could always charge whatever they wanted, why did they just start now? THE cause of higher prices is the Covid stimulus payments from 2020 - 2022, much of which was absurd and unneeded.
My favorite thing about the price hike, is while service and food quality has decreased, I found a local mom and pop shop that sells burgers, freshly grinded meat and they sell other cool food items that change. The loyalty program requires nothing, they just let me try new stuff and give me free food from time to time.
What I don't understand is how In&Out has been able to pay their employees so much and still have great prices. And now suddenly, every fast food place, McDonald's, Wendy's, etc. can't "afford" to pay the wage increase to its employees so they are starting to charge airport/theme park prices in order to pay their employees. They all basically get their products for pennies. Corporate Greed is truly hurting the world.
In & Out probably has greased the right wheels and has politicians and judges in its pocket. Like Gruesome Newsome's laws that conveniently exempt his friends' businesses.
The difference is supply and demand. Almost everywhere an In-N-Out Burger is located, there is a line of cars not only around the building, but often times outside the entrance driveway into the street and around the corner. No other burger place comes close for loyalty and demand among its customers. Also, the fact remains that In-N-Out is wholly owned, with no franchises.
@@alexp3752 I don't think it is that. These other massive fast food corporations posted millions to billions in profit. Starbucks made such a profit that they could have given all their employees an $11,000 raise and STILL made a huge profit. McDonalds is just raking in money. It is greed from someone at the top.
local businesses arent open late, are sometimes just as bad (if not worst) and dont offer the same quick and easy solution, i hadnt been to fast food outlets in 20 years but with my job sometimes there is only that open late on a winter night
Yep. I recognized this real quick. If customers keep buying then the company behind the products they buy from will have no problem increasing price on that set product.
@@GB-ue6wr Some will .. most won't. I've noticed that it's those who complain the most about capitalism, who have the highest consumption of goods and services. The ones I know are always eating out and travelling. They think because they buy some of their clothing from charity stores, they're fighting capitalism. Their frequent overseas recreational flights are apparently supplied by climate activist vegan marxists.
Nope. Federal and state govt keep raising the min wage, and taxes getting cut. Money has got to come from somewhere, and it just so happens it comes from us. Prices will continue to soar and america will enter a dark age of corporate dominantion.
My ass learned how to make smash burgers from youtube and tic tok. Fast food isn't economical anymore for a qucik bite. I meal prep unless I have a craving.
@@seagburg even for pork shoulder?? cuz thats the high end for a pork shoulder or pork butte around here beef roast varies in the 17 to 25 / pork depending anywhere between 11-20 for a standard 8-10 lb something that has been confusing me lately is the constant 1 dollar a lb deals we keep getting for drumsticks,thighs, and sometimes even chicken breast lately.... like really confused after being gouged for 18 months don't think it makes sense in california as next to iowa they are 2nd largest i thought for pork
McDonald's gross profit for year ending 31st March 2024 was $14.6b a 9.3% increase from year ending 31st March 2023. Wendys profit for 2023 was $2.1b up 4.1% from 2022
@@skip031890 they're saying that these places are raising their prices way more than the cost of doing business is rising. So not just the Profits but also the profit margins have grown massively. The prices aren't rising because of inflation, it's pure greed, they're just charging more because they can get away with it. That's the point the person was trying to explain about the profits.
"Pay no mind to the RECORD corporate profits and BILLIONS we spend in ceo bonuses and stock buybacks, kids! The problem is YOU and your darn $2 wage increases!"
My grand parents who are asian recently died at 88 and 98. They are credited by not eating fast food (maybe once a month) our grand mother made 3 home cooked meals daily non stop 365 for over 50 years. They lived in a small town in Arizona and lived a no stress life. My Grandfather, even at his old age, walked early in the morning 5-6 days a week. My Grandfather lived to 98 and his diet for over 40 years was a basic full breakfast and a small sandwich or soup for lunch and just toast for a dinner if any at all. This simple life style changed and saved their lives to live much longer. We all can learn something about this diet. Fast Food will shorten your life by at least 10 - 15 years according to our family doctors in our family.
Another “secret” to help live longer is standing and walking as much as possible vs. sitting and laying around. I guess that helped your grandparents live a very long life.
What is not addressed here is how demonstrably bad fast food is. From being given the wrong order, missing items, large fries half-filled, one napkin for an order that is clearly for multiple people, and let us not forget the food just plain sucks most of the time, it was not a value proposition back when prices were somewhat normalized. Now it is just a blatant rip off.
I’d rather spend $20 and go 1x per week/2 weeks to chipotle, Firehouse Subs, or 5 Guys. I’ll take something higher quality if I have to pay more. I just won’t go as much. But I refuse to pay $20 for Wendy, McDonalds or Taco Bell. If you have to pay over $15 to get full at these crap chains then you might as well go somewhere where there’s better quality.
The only credit I’ll give CNBC is that they forgot to turn the comments off, and I’m glad that it seems that everyone understands it’s corporate greed and price-gouging which is why we’re at this current point
That’s part of it. Never let a good crisis go to waste. But who is behind the inflation crisis? here’s a clue- Gov. as long as they keep borrowing and spending and handing out free cash your money becomes worthless. Even worse, while the average citizen received some relief from this, the majority of the billions went to the rich.
Sort of. In terms of the quality versus what you get for your money, yes. In terms of increasing businesses costs, no that's due to idiotic liberal legislation and the government attacking logistics, farms, and food processing.
@@robertd9850braindead take. When stimulus checks were being handed out, wouldn’t that contribute to increased volume, and therefore companies not needing to increase rates to maintain revenue? The only likely response is corporate greed and a carnal need to increase margins. You’re being fed lies from your media and being told how to think, and I feel sorry for you.
I am sick and tired of workers being blamed for being "paid too much" The idea that a big mac has to cost 15 dollars for workers to be paid 15/hr is absolutely insane. These corporations are ROLLING in dough, they are not strapped for cash. They are doing this out of greed.
Exactly i dont feel bad for them. If McDonalds and the like cant afford to pay workers, then go out of business. We will get better mom and pop restaurants then.
I agree. I feel like it should be cost should be 1/3 materials 1/3 labor & 1/3 profit. But they lump materials and labor together and try to decrease it as much as possible to increase profit as much as possible.
It's incredible how restaurants and fast food joints in Europe can pay government regulated wages just fine and keep normal prices without blaming the workers or extorting the customer with "tips", isn't it funny?
McDonalds has to pay their workers $20 an hour to start in California. You think there will still be a $1 menu? All the food prices are up for companies, just like they are up for you.
I love how the CEO making millions of dollars in bonuses never has anything to do with rising costs of fast food. It's only ever the worker's wages for these so-called ExPeRtS.
Well said, right on!!! Cook your own is best!! More of your money goes to the real food producers such as farmers instead of goes to large greedy corporations that sell harmful junk food. Buy from real local farmers, even better to grow your own vegetables.
Zero mention of soaring corporate profit margins. Labor is not to blame. If minimum wage had kept up with productivity we’d be at over $23 an hour by now, instead the growth goes straight to shareholders and executives.
Fast food places pass minimum wage increased to you and me. Labor is to blame. Watch the video. At the same time many fast food places lay off workers because less people eating out anymore. They also invest in machines replacing human workers. Watch the video.
Thats whats annoying with how they mention the rev growth at 4:40. Its about profit margin, they have bills too so it doesnt matter if revenue went way up if theyre expenses did as well then its a wash. Yes profit margins are skyrocketing and thats where the problem is, greed of big corporations and the gov in bed with them.
No, that number is cooked. Adjusted for inflation the minimum wage has never been more than 11.00hr, federally. How they get that ridiculous 23.00hr number is almost certainly like this… Imagine I help you bake a pie and in return I get 10%. Then I bake a pie three times the normal size. The people claiming minimum wage should be $23 would say I deserve 30% now, while a sensible person would know I still only deserve 10% because that 10% would be three times as big.
@@specialagentorange4329 If I'm the employee then no if I'm the owner then yes. Higher profit margin means the shareholders ie the owners are making more than before but the employees are not. In other words your burger thats costing you a dollar more is going directly into the pockets of the shareholders. If this wasn't happening then the profit margin wouldn't be what is rising but rather it would stay the same and you would see an increase in revenue and expenses equally.
We're a 100K+ household and we've quit going to any fast food places. There's just no reason. Their advantages were they were fast, convenient, and cheaper. They aren't fast anymore, their hours at least where we live have been cut way back, quality is down, locations have closed, prices are through the roof, and now many places are pressuring you to tip. So they aren't convenient or cheap either. There are plenty of full service restaurants that offer way better food for similar prices and in a similar period of time. I do miss McD's fries, but not enough to want to go there.
Yup I'm 29, single, no kids and earn $120k. I only eat out twice a week. One taco bell due to being next to my groceries place and my true treat of Chick-fil-A. That's it. I make my own coffee at home, make meals at home, and I've gotten significantly healthier. I'll spend a bit more for higher end groceries and guess what, still way cheaper than eating out fast food. I could easily afford eating out daily but it's no longer a deal vs my health.
Rarely eat at McD’s but the other day had a craving for their fries. They were thinner and, I kid you not, shorter. They were like shoe string potato chips.
All the advantages that you mentioned for fast food are why we ate at those places. And in exchange we got served crappy food. Which was the cost. But with the advantages gone, why pay the cost? No longer worth it.
So, how many layers, do you think their are. And each one is effected. Do not forget the taxes, that follow through,to pay the government employees,that should be above , button. Tiers. The layers,make it more expensive, because a lot of people, are being paid. Advertisment, goes by percentage, now the gross has to be higher, or else you have less advertisment, becouse you pay a percent,less money for percent less advertisment. The field is simple,but everything has to increase, a nurse had recently, been how many times min. Wage. Now it has to be higher. So the insurance bill has not hit. The business, risk has increased due to inflation , the bill has not hit.takea 5 years, for property renegotiation some 20 years. Now, that bill has not yet hit. This are the layers of a business, at least 20 layers, which I impact jobs outside of the employees But it's gonna hit. We have in our area due to inflation, warehouse work ra ,who were equal, to the area,this is gonna change, has to increase, else warehouse employees,and trad a will be making min wage.
The 4 piece nugget from Burger King was 3.99. I was like, no thanks. I paid about 3.00 for a child size fries. I don't even want to talk about 5 guys. It's 25.00+ per meal now.
Prices are very good at Denny's. I had a burger and fries for $8 + $2 tip = $10 just Friday night. Grilled Wild Caught Salmon, Grilled Vegetables, Garlic Toast, and a salad for $11 + $2 tip = $13 on Wednesday night.
@@aimeeinkling The point is that fast food is a luxury. Corporate greed doesn't matter. It is entirely a consumer choice driven business model. Nobody needs fast food.
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They wait until inflation and then raise the prices even higher to make extra profit and hope no one will notice. They aren't the only ones doing this.
"It's definitely due to labor costs" My bro I live in Nebraska. Fast food places here have been paying 11-13/hour since 2014, every place is understaffed, and prices are STILL rising just as fast as in places like California and Seattle
@Chris-ct3gc IIRC, wasn't there a thing in California around that time where a bunch of fast food places declared "due to understaffing, we have to be open less hours per day. Therefore, we're raising prices to make up for the lost business"
Charging exorbitant prices for low quality food and than blaming it on the crappy wages they pay while your executives are getting massive bonuses and profits are sky high is CRAZY WORK.
Stop going.. we the consumers have had the power against greedy corporations this whole time.. I guarantee they will drop prices and jump thru hoops to get us back .. you want to eat out, choose a local mom and pop pizza place or burger joint..
Ppl can say it’s because of inflation and higher wages but at the end it’s just an excuse from these companies… it’s just greed that is driving prices up
@Drybones195 Obviously not, it was that when "just in time' style supply chains produced shortages during covid, that was the excuse to price gouge. It's pretty much a fact now, the research into it has been done. Why do you believe MacDonald's raised their prices so much, so much more than their wheat, meat price increase etc?
@@Drybones195No, only now that companies just balantly raise prices at a high level to see if they can get away with it. They want to see the limit of what bs people will take.
no, companies usually charge as little as possible in order to get the most sales possible, when they raise prices to keep up with their costs, competitors can undercut them and stifle their sales if they raise too much. I know plenty of poor people running restaurants who have been raising their prices, they aren't doing it out of greed. you're watching rotten news sources or have a wild imagination. the reason their prices went up is because their costs went up. food, labor, repairs, taxes. everything is going up. it's because we printed more money in the last 4 years than in the previous 100. vote out the fools.
Just stop going. Its not like these companies are struggling. The prices are going up but so is profits. They pay more for labour and you pay that. They're profits dont go down.
@@Network126 Look of course. If you can get away with not eating this stuff (even though I honestly eat too much) you should but sometimes you just have to. Tbh the price is getting so high you could eat in somewhere healthy for not much more, but I understand sometimes its a necessity and thats a shame.
They don't pay alot for labor. They work on skeloten crews. They make a killing. & don't care if you Karen's & Ken's come in being rude in the drive thru.
I used to get Mcdonalds almost weekly with flatmates as a Saturday night treat. We haven't haven't had it in 3 months now. The way we see it, the price they ask is so high we're better off spending a little but more going out to eat in a nice restaurant.
Executive compensation is too high, franchise fees are too high, advertising spending is too high, but sure blame the people wanting more than 12 bucks an hour.
Then pass laws to limit CEO compensation, franchise fees and advertisements fees and see what happens. The question is why the Democrats did none of these things when they had control of both houses and the presidency.
McDonald's net profits for 2023 were up 37%. Fast food is to expensive because McDonalds and every fast food brand that Yum foods owns are engaging in predatory pricing.
No, living costs in general are up, its not just Mcdonalds. And its because of progressive policies. So called Climate change policies especially add to increased costs.
Here's some cold hard truth - companies will generally charge as high a price for their product as customers are willing to pay, because that's the most accurate reflection of how much perceived value their product/service is providing. Why wouldn't they increase prices if it will lead to more profit? For a corporation, their responsibility is ultimately to their shareholders. It might sound harsh but they don't exist to cut people a generous deal, they exist to make money. If you think they're charging too much, stop giving them your money. If enough people do that it'll hit their profits and they'll have to reconsider their strategy and lower prices.
And that's exactly why the housing market is the way it is as long as people will pay 1.7 million for a home that's worth 200k at best elsewhere It's not going to get better consumers have to take back their power and mean it
If you haven't noticed, Prices never go back down to what they were. Once they reach an all time high, they set a new all time low. The goalpost eternally moves in this country. If the high was 12 dollars, the medium was 6 and the low was 3, they'll keep pushing. Then the high will be 15, the medium will be 12 and the low will be 9. We will never go back to the 3. No matter how much we wish or don't spend at a company. Companies would rather shut down and leave an area than accept paying their employees more or reducing prices.
Today's breakfast: 5 hash browns with melted real cheddar on top. My cost? About a dollar or so. Cost at McDonald's? Over TEN dollars for the hash browns alone but McDonald's won't give you melted cheese, that would jack up the price substantially. That's a 10 to 1 ratio in terms of cost. My pizza, steak and burgers are as good or better than theirs. We don't eat out anymore.
If ALL consumers boycotted ALL fastfood for a week, you'd see prices drop real fast! Imagine if you boycotted them for a month... They'll feel the pain for sure. When you combine your voice, they'll hear it loud and clear.
Just look at the car industry. Car prices are surging as well and middle/low income people are being priced out of the car market or are taken on high interest rates. lots are starting to fill up.
@@thedragonofdalzellI've lost count how many times the dealership I bought my 2019 fiesta has sent me notices trying to get me to trade it in. I've only got 40 some thousand miles on it. Anything I could buy would be double what I paid new for it.
Prices would drop, but eventually many of them would go out of business. You can only drop prices so low, before it goes out of business. But prices already drop on the daily, called discounts. Its why I never buy fast food unless I feel there's an offer making it worth it, and I happen to be in the mood for some fast food.
That is happening here in Canada. Loblaw's owns almost all the grocery stores. Canadians are boycotting them for the month of May. Now the CEO is whining that it not his fault, even though we know it is. His family own the company and making record profits.
In this case I don’t think so. The places will go belly up and replaced by something else. Whether or not that is something run by the government or not remains to be seen. If you just search for “Johnson” “Chicago” and “municipal owned grocery” you will see what I mean.
Wrong Francis, the more they raise the price the less you go, but the more money they make from Less service. You are to addicted to stop going so they just keep raising the price for less service; making them more profit.
Fast food prices are not too expensive for me. I spend zero dollars a year on fast food. We are driving 800 miles this weekend. I'm roasting vegetables and searing salmon for the trip. We'll eat it cold out of the cooler during the trip and use the leftovers on our vacation. We take water, home brewed iced tea, and ice on trips, We can also boil water using a backpacking stove to have hot drinks. I can heat up leftovers, too.
The reasons the prices are so high is that CEOs refuse to take pay cuts. Then they hear that the cost of ingredients is up five percent and they say, “that’s a great reason to raise the price by fifteen percent and make even more profit. Anyone asks why prices went up and we can say inflation. Don’t blame us, it’s inflations fault. We’ll be on yachts where you can’t reach us if you need us. Bye, bye now.”
Don't you love how CNBC immediately blamed increased minimum wage as almost the sole cause then 6 minutes in reported that the companies saw about a 25% increase in profit last year? But, yeah, its the workers wanting to be paid a living wage that's the problem, not corporate greed.
Yep. Now you'll have morons in your replies trolling or astroturfing when the facts and numbers just don't lie. Corporate greed is at an all time high and it would seem ignorance is also up a tremendous amount.
LOL yep. Something I will never understand. Why, why do they need to exceed growth. Every single year or OMG Recession/Depression fear mongering! They're making BILLIONS of dollars and should be happy. But nope, that's not how Corp works, apparently.
OF Course! CNBC makes it's money by carrying advertising, not by solving the plight of the common working man! If they start advocating for wage hikes and lower prices, THEIR customers are going to stop advertising on their channel! Why are you getting your 'fast news' from television?
@@holmbergaudio Nah, I get mine from Temu! The workers still get paid next to nothing, but in order to try and put Nike out of business, they sell them for less than $15, and sometimes throw in free shipping!
@@Jason-g6q Sure they are! They just cut out the middleman (the poor), and donate directly to themselves, then hire accountants to conceal their acts of fraud! That's how the US has done things since Reagan and Milton Friedman...
Blame the labor for increase in prices but they never talk about how much the CEO's make in their salaries or the tax cuts that these businesses get. The fast food employee is trying to survive, the company is trying to make huge profits and blame others
I mean we heard this through unclear veiled words from that CEO. Strengthen the value proposition means, "our operators who take home more than our labor force are making it hard to get these people to buy" they are asking for these operators to create $1 items and take a paycut without saying that out loud. What ends up happening is they just don't hire enough workers and they take home more pay and they charge $2 not $1.
What do you expect, do you think news companies will shed light on the people in charge of those companies, course not, they are too dumb to realize this or they have been bribed by them to say bad things about labor unions or the employees.
To be fair if you cut CEO pay that does virtually nothing concerning costs. Also, most fast food chains are franchises and are considered owned by small business owners. They don’t make a whole lot, considering the overhead costs.
Why not just give the higher ups a pay cut? No. As usual their pay just keeps going up exponentially more than their employees yet they want to blame them for wanting to have enough money to be able to afford toilet paper while the C.E.O is chilling on a yacht.🙄
They charge me extra money for an extra slice of cheese on my burger, *but they expect me to give them extra effort while only paying me minimum wage...*
i work at mcdonalds. yes rising labor costs is part of the problem, but when our min. wage goes up they just cut people's hours so their labor costs are still about the same. they're just greedy, employees are overworked and always understaffed while the customers are mad when the service is slow. only the people up top win
I totally agree with you. I work also at McDonalds as a working student in a small town of Europe. It doesn’t matter how much a branch makes in a day, you will get only the bare minimum wage. Even if they make multiple times of profit they will never give a penny as bonus to the employee. These chain shops are nothing but a factory of modern day slavery. If you work there you have to forget about your family life, social life, personal space, you’re just a number to increase their sell. Also a lot of the guests are simply respect less to the workers. I wish I could get another Job tomorrow so that I don’t have to go to this hell again.
6:00 mark, this weird guy wearing those lame dorky ear buds is saying that people had additional Covid money that they were using on fast food? Literally nobody spent that money on fast food. Most of us saved it, and invested it, and used it to save in the bank. I haven't been to a fast food restaurant or a movie theatre since well before the global pandemic, and I don't see that ever changing. Fast food is why so many people are fat, all the chemicals in the food. Eat mainly vegetables and fruit, and whole grain bread in small portions, with a meat product or meat like protein about the size of the palm of your hand is all you need. It is big corporations like CNBC that are causing all these problems, we need to reinstate Dodd Frank Act, get rid of corporate lobbying. Institute term limits in politics at every level of government, ban private donations, track everything on the blockchain, so we can see where the money goes. Also need to start voting with our phones, so everyone can easily vote, and there's zero chance at fraud. Just make it so you scan your driver's license, and then have a 10 minute timer to vote.
@@Dennis-nc3vw Let's be real here, that's just not true. Corporate CEOs are just upper management guys who knew the right people. You only think they're geniuses because they're wealthy. Sure, there are some wunderkind up there, but guess what? People ran companies for less than a million back in the day and the job still got done. Labor is what matters, labor and the lower manager who keeps your food fast and clean. The CEO's only job is to generate wealth, not value for you.
Just don't eat fast food. Problem solved. I am not college educated but I know how to grow vegetables and can budget for home cooked meals like a champ. Fast food is a want NOT a need. Home cooked is healthier and far more cost effective.
@@CommonSense-uj9ip Investors/Shareholders directly push for increased quarterly returns, aka increasing sales prices if the market allows. Either that or suppression of wages and reducing expenditures. Investors are very much one of the major players in increasing prices.
$20 an hour to put fries in a bag???? remember when these workers threatened to unionize and demanded $15 an hour, which was about double what minimum wage was in these states at the time. and people scoffed... then the government gave it to them last year ($16) and now even worse this year ($20), where does it end? I am a middle aged professional and I can't even afford to buy a side of fries for $3, when the burger is $8 and the drink is $3 due to higher wages and materials costs. It has ***nothing*** to do with investors. I'm a small time investor so I should know. McDonald's stock recently tanked, among others like Southwest , Boeing, etc. Taking a lot of shareholder equity with it...
Love how these companies cite labor costs as the primary cause of inflation, when the truth is that greed is the true cause. We are suffering under a massive wave of "Greedflation".
So why are costs always lower when progressives are not running things? Why aren't these companies "greedy" when progressive policies don't exist? Costs in CA have been super high for a long time and its a direct result of those progressive policies. Biden has made a lot of those CA policies national so now every state is getting CA prices.
That is a real thing in California, though. We just had minimum wages specifically for fast food raised to 20 dollars an hour. This place is run by people who do not understand economics.
@@NNic. No. As indian, it is pure GREED. The more the company raise prices the more they make. If you sell a product for $15 and you sell 10 million of it, raising it to $30 will double your revenue. So next year you will increase it to $60, then $120, etc. There is no limit to GREED. A car used to cost $200 in 1920. Now an average car cost $45,000. That is because of nothing but pure GREED.
@@NNic. The McDonalds corporation makes its money from franchise fees, not from operating its restaurants. The franchise fees require extremely little labor and has been achieving ever increasing profit margins. The franchisers need to pass down these franchise fees to the consumer or cut other expenses. I personally think this is where the issue is for McDonalds. The labor cost for most restaurants is only about 30% of the price of the meal (has been shrinking lately) so that’s not where the issue is.
Scandinavian countries consistently have the highest prices for fast food because they have high taxes, strict regulations, and added import fees. They don't have minimum wages and the average Swede working at McDonald's makes about $12 USD per hour, but a Big Mac Combo is around $15USD. You are talking out your ass. Do you think you can make up random statements and no one will call you out? Higher wages obviously increase prices. It's math.
@@geocam2no amercans they'll go bankrupt on medical bills. And no one is paying 70% tax. Stop drinking booze and eating fast food. While listening to infotainment
@@garettjames6349Scandinavian people don't eat that trash as much as we do. Now get a job, wuit drinking, stop with the fake news hair helmet toupee nonsense
@@garettjames6349 Money is a relative concept. LIfe is Scandinavia has many comforts and supports that would be beyond the cost reach of Americans making a minimum wage or more. Costs vs benefits can not just be measured by a base number equivalency of wages. It's a trade -off depending on where.
EAT LESS omg, what a concept. But seriously, thank you for this comment. Obesity is quite common nowadays and the majority of Americans are overweight. Eat less ppl or at least eat more filling food like vegetables. You'll save money bc you'll eat less overall, I will bet anyone here on that!
@@TurkeysLeg I feel so sorry for your limited food experience. "There's nothing better than a big Mac" is probably the most pathetic thing I've heard in my life.
If you want to talk about wages, start at the top and work your way down. Starting at the bottom and looking at the cheapest staff makes no financial sense. The kids are making $15/hr vs. the CEO making 20million a year, each board member 500k a year......yeah, $15 kids are really the drain of the company. 🙄
I paid 37 dollars at subway for 3 sandwiches with no drink, no avocados. I told myself never again and kept to it 3 years now. Absolutely no effort into makeing that move, and I did not tell that story until now. It's the feeling of not getting value that made me stop. That effect is tricking down to a lot more people than me.
@@LCx829 Same here, and with coupons (where I am) you can get a foot long for $7 usd. As much crap as I’ve given subway, I’ve started eating there more this year because their coupons such as the three footlongs for $17 usd can literally feed me for three days, since I have light breakfastes.
is it crime if a website or app or something stick people together to " not buy " on X place? Most of the ( no buy weakness ) is the feeling of be in a war alone.
I screamed when my wife and I went to an A&W in our southern Ontario town. Two burgers, two small fries and two root beers cost me nearly $45. Corporate greed is definitely out of control. A family restaurant in my town has burgers at $18. I stopped going to restaurants and fast food joints
@@skip031890what? You think they should pay employees 7$ an hour living in a city that make you spend 1500$ a month for studio? Spoken like a true idiot.
6:00 mark, this weird guy wearing those lame dorky ear buds is saying that people had additional Covid money that they were using on fast food? Literally nobody spent that money on fast food. Most of us saved it, and invested it, and used it to save in the bank. I haven't been to a fast food restaurant or a movie theatre since well before the global pandemic, and I don't see that ever changing. Fast food is why so many people are fat, all the chemicals in the food. Eat mainly vegetables and fruit, and whole grain bread in small portions, with a meat product or meat like protein about the size of the palm of your hand is all you need. It is big corporations like CNBC that are causing all these problems, we need to reinstate Dodd Frank Act, get rid of corporate lobbying. Institute term limits in politics at every level of government, ban private donations, track everything on the blockchain, so we can see where the money goes. Also need to start voting with our phones, so everyone can easily vote, and there's zero chance at fraud. Just make it so you scan your driver's license, and then have a 10 minute timer to vote.
It's not corporate greed my friend, it's dumb policy put out there by the people running this country (democratic) they always want higher wages You get what you voted for. Good example California restaurants is going under.
: Yeah., this video feels a LOT like blaming consumers and employees rather than examining things like "Why are prices going up so much when costs aren't going up so much and profits and dividends keep rising much faster?"
As someone who builds/repairs computers, I want McDonald's workers to make a better wage. If every McDonald's worker who wanted a new gaming PC could afford one, then my business would be thriving. And then I wouldn't need to worry as much about the price of food. The problem is always when the top 1% are taking way too much of the profits, raising prices, but still leaving the employees poor.
I just ate at Dennys with 2 friends, we shared an appetizer and 3 standard plates. The bill came out to a little over 80$. Funny part is we were guessing what the bill would be and we guessed between 50-65$. When we saw 78$ not including tip we decided that would be the last meal we ate together until we were rich because these prices now adays are INSANE 😂
6:00 mark, this weird guy wearing those lame dorky ear buds is saying that people had additional Covid money that they were using on fast food? Literally nobody spent that money on fast food. Most of us saved it, and invested it, and used it to save in the bank. I haven't been to a fast food restaurant or a movie theatre since well before the global pandemic, and I don't see that ever changing. Fast food is why so many people are fat, all the chemicals in the food. Eat mainly vegetables and fruit, and whole grain bread in small portions, with a meat product or meat like protein about the size of the palm of your hand is all you need. It is big corporations like CNBC that are causing all these problems, we need to reinstate Dodd Frank Act, get rid of corporate lobbying. Institute term limits in politics at every level of government, ban private donations, track everything on the blockchain, so we can see where the money goes. Also need to start voting with our phones, so everyone can easily vote, and there's zero chance at fraud. Just make it so you scan your driver's license, and then have a 10 minute timer to vote.
You lost 20 lbs because you stopped eating happy meals? How many happy meals were you eating each week? Also, why were you eating happy meals in the first place?
@@perceivedvelocity9914they probably had a habit of eating out at fast food restaurant and quit them all together and lost weight because of it, also a happy meal from time to time is goated af
Fast food was created to be accessible and affordable to everyone ,but now its expensive this is a classic example how greed ruins things. There was a time u would get burgers for 28 cents enough for the whole family, meaning more bang for your buck.
I was shocked at the bias in this reporting then I saw it was CNBC. No mention of the record profits McDonald and other chains have made since 2020 up until FYQ1 2024. No mention that McDonalds and Starbucks started facing massive international boycotts in October 2023. No mention that many fast food places have nearly half the human staff compared to 4 years ago, and spent millions (maybe billions) on self serve kiosks and cellphone apps to replace cashiers. Extremely biased reporting.
And how is that the fault of these restaurant chains? Maybe you should look to all the presidents over the years printing money to pay for all their stupid stuff, especially the current one who passed that ridiculous "Build Back Better" program that cost $150B.
Wages are one of few reasons because California passed law to force fast food restaurants to pay employees $20 minimum wages while Floridians voted for $15 minimum wages that caused Florida became most expensive to live in . Taxes are biggest contribute to inflation that you can thank Biden for that. Tbh, corporations got greedy because they care all about bigger pies err profits nowadays.
This has nothing to do with wages or greedflation. It continues to be the dollar is worth less every day because of over printing. We have lost over 25% of the purchasing power of a dollar since 2020. Since 1913, 97%. The government borrowing, spending, waste is the largest factor in America's spiral.
with such an increase in costs, many food business are being started in smaller communities around the US we see this happening everywhere and its a good thing on many levels
It's great how CNBC shows a graph that clearly indicates that price increases led to increased income at first, then same income with less customers, but they mention 5 times that wages increased as a blame for the prices instead of corporate greed. When these places got established it was because of affordability but now it is cheaper to go to a real restaurant or a fast casual place where the food is 10 times better.
@@gladtech4740 And it's our obligation both as workers and consumers to fight for our own interests, which often run against the interests of corporations.
Corporate greed is a lazy excuse. Corporations know if they get greedy that customers will go to competitors. They can't just raise prices however they want.
@@funkspinna Most people have no idea that McDonald's the corporation has very little to do with your average restaurant and absolutely nothing to do with paying an average employee.
I’m like a boomer even though I’m 33 I have an aversion to tech and refuse to do most apps because I think it’ll just be a pain. But I can take apart a lawn mower and put it back together.
No, it's the damn government's fault. I am absolutely blown away that I am reading comment. After comment after comment and absolutely nobody is talking about inflation. That's literally government caused. Massive increases in the money supply always always always always always create a bunch of inflation. That's how monetary systems work. The one of the government gets away with it.
I mean, when wages go up, the product price does too. As a business you need to pay for the building for the supplies and for the food and for the employees. When any of those things go up then you need to increase the price of your product in order to keep going and make a profit. I'm not saying that corporate greed isn't there, but when California wants to increase minimum wage to 20 bucks an hour there's a reason why fast food places are extremely expensive in California
CEOs also have more skills to offer and probably had a college education. They invested more money into a CAREER choice. Flipping a damn burger doesn't require much skills.
If anything, writing off expenses would make prices go down because taxpayers would be indirectly subsidizing costs. If you eliminated CEO compensation tomorrow, unit costs would not change. The CEO compensation is a tiny fraction of total costs.
Last time my wife and I got Jack in the Box, it was over $30, just for two burgers, two fries, and two drinks. We vowed never again. My wife picked us up just two large sodas from Wendy's a few weeks back, and it was over eight dollars. We're done. We can't afford to support these businesses. They need to just go belly up if they can't figure out how to make this work.
This kinda makes me nervous because Jack bought Del Taco a while back and DT is probably the only fast food chain left in the country that hasn't fallen in line with the rest of this nonsense..
My son and I went to McDonalds last years and it was $28 for two of us, and we didn’t get much food. Never again. I can go to a real restaurant for those prices.
Damn I didn’t believe the 5 guys stat, so I went online and checked. A bacon cheese burger, regular fry and large drink plus tax is $24. For one fing person!!! A grilled cheese is over $6 bucks!!? If you’ve got older kids, you’re gonna spend $100 for 5fing-guys?!? That’s pathetic
This article was somewhat disingenuous. We see the same increases in food pricing at the grocery store and that has nothing to do with wage increases at a fast-food restaurant.
Roughly 2 years ago a McCain cake was like 4.99CAD and now its 7.99CAD... I could go on about other items too... But even so, it is still way cheaper to buy your food and drinks from a grocery store than fast food. For those that argue otherwise, what universe are you living in? Just curious :)
While I agree. This was going to be inevitable that prices would rise with wage increases. These companies were very vocal about it before it was introduced.
@@OG-Jakey Wage increases account for 2% increase to the bottom line, while average meals have increased by 28%. Again, from my original comment. Food prices are high at the grocery store and that has nothing to do with fast food wages.
@@OG-JakeyThey're making record profits. This wouldn't be the case if it was purely to offset the cost of wage increases. It means that they are increasing the prices much faster and higher than inflation, wage increases, rising cost of materials, everything. That's the way you make higher profits, and all major companies are making the biggest profits in history. This is purely from corporate greed.
Haven't been to a restaurant or fast food establishment since 2019.Saved a ton of money and lost weight .Went from 180 lbs to 130 lbs .Feel so much better .Blood work good ,blood pressure good .
![[MV] A leap of faith...ความเชื่อใจครั้งสุดท้าย (From "Petrichor the series")](http://i.ytimg.com/vi/U1piZH2CNXA/mqdefault.jpg)
The real issue is that it's just not worth it. The fast food places were never actually great, they were just cheap. When you take cheap away there is zero reason to ever go there.
their revenue growth are growing rapidly, so it kinda kills your argument
Meaning all the workers you tried to help by raising minimum wage will be out of a job.
I mean... kfc still one of the tastiest fried chicken period
prices go up because they can go up nothing to do with wages they'd still go up regardless it was just a matter of when
Cheap and convenient... now they are only convenient, with some sit down restaurants offering better prices, save for the tip...
I love how they keep saying that WAGES are the big reason for the price increases but then fail to mention record corporate profits. We see you, CNBC.
They aren't even subtle about it. Funny part is most places outside of California haven't seen a wage increase in over a decade.
They really said let’s demonize livable wages, pit the classes against each other!
Yep, absolutely propaganda paid for by the companies that they are making excuses for.
Just a question, what buisness do you manage that gives you insight as to how greed affects cost, and not wages or cost for overhead expenses?
Corp profits have nothing to do with this. Most franchise owners are mom and pop
I'm sorry, using California's minimum wage laws to justify why my east coast McDonalds charges more than Olive Garden for a meal is ridiculous. We're not that stupid.
Well blaming Bidenomics would be more accurate.
@@robertnoble6661 This has been a problem since Bush. Prices and profit have been increasing exponentially since the late 90s, meanwhile, pay for employees? Hasn't gone up that much either.
@@robertnoble6661 yes lets blame presidents for private corporations greed!! that'll solve it!!
@@nickfromm5315 You know these private corporations need to follow the rules too, right? these policies cause prices to soar, making purchasing materials or ingredients pricier not to mention gas, these companies need it to transport the goods to both manufacturing plant or stores.
@@Nineteenth Yeah natural inflation happens it's with in expectation, Biden let it inflate so much it's uncontrollable, printing money doesn't solve inflation it worsens it.
Quit going to fast food in January, saved 45$ a week and lost 120lbs never looking back
Thats awesome, good for you brother
nobody cares bud also no you didn’t lmao
"It's totally not corporate greed, leading to record profits..." says the corporate news conglomerate.
yeah $20 to put cold fries in a bag (with no napkins or ketchup) , and higher materials cost has nothing to do with it. McDonald's stock recently tanked! nobody's getting rich owning or operating McDonald's right now...
If prices where only going up for fast food, yes, but prices are going up across the board.
@@lainiwakura1776 yeah except that argument falls flat when you realize our own Senate also acknowledged this all the way back in 2018.
Source: The Democratic Joint Economic Committee. www.jec.senate.gov/public/index.cfm/democrats/blog?ID=9877C1D4-3669-4D0C-B0B2-8A9098553ADA
Oh and that's not just fast food, this is across all industries. Especially real estate. Feel free to do literally just a 10 minute google search... I'll even tell you what to look up.
"Compensation of employees vs. Corporate Profit." There are tons of graphs even going up to 2023... and the margin of wealth only increases.
@@briansguy If you want to employ someone then you pay them a living wage. If $20 is a living wage then you pay it. If you want slavery wages either your business isn't making enough money or you can go to a country that is okay with slave wages.
I just quit going. Problem solved. That garbage food is not necessary to anyone.
Same
Totally agree. If everyone just did the same then they'd reconsider charging outrageous amounts for the garbage they serve.
Right, you guys will just buy garbage at other places, like gas stations, Uber Eats and even the supermarket. I laugh at all the pretend health nuts on here.
Amen.
@kommisar. I quit using Uber eats and any food delivery services years ago. The gas stations have the absolute worst food anywhere. I know bc I'm a truck driver. So that leaves the grocery store where plenty of healthy options can be found. Have a great Memorial Day everybody!
Paying luxury prices for crap is laughable
Well, I don’t. I don’t eat fast food anymore.
The only fast food I eat is hot dog or pizza from Costco.
You're better off buying goods from the supermarket. It's cheaper to make home-cooked meals anyways.
Fast food is literally a luxury.
@@WowOafus I don't know who hit you in the head, but fine dining is an actual luxury.
The main reason why I don't travel to the USA anymore is the food. The quality was terrible. whether it was an expensive restaurant or an "Italian"
Solution, buy a lunch box and bring your food from home in an insulated bag. Problem solved. NO WAY I’m paying 20$ for trash food that will give me a heart attack anyways. Fast food being cheap was the only use it had, now it’s pointless.
Solution? STOP BUYING. Let's see if they don't lower their prices after that.
That’s what we did in India. I remember some years ago when Mcdonalds had to close a few of their locations cause they started charging way higher prices and people were just not buying it. Now they’ve started discounts and deals on their app and it’s pretty cheap (as fast food should be). So yeah if the people stop buying they’ve got no option but to lower the prices overall.
Been doing it since last year. Hope they feel the pinch, but I’m only one guy. We need more people.
While I sincerely believe in just not buying it, for some people ( their employees for one group), that's not an option. Food is not the only cost people are dealing with. Housing is a huge problem too. If you don't have a kitchen, it's hard to cook at home. Not suggesting that not buying junk isn't a good idea, but we need to solve more than this one problem. And yes, buying from your locally owned, non franchise shops of all kinds will keep more money circulating in your own community. Those economies of scale advantages all go uphill.
Ok so be happy with laying off how many workers?😅😅
👍🏾
Literally, the kid working the register at our local McDonalds specifically said "this place is the most expensive McDonalds in (our city)...they pay us the same as the other places, so I dont know why. We're always busy."
It isn't wages. I see you, corporate media.
It is wages tho because you paying someone based on what that product is worth if the burger is only worth $7 let's say that means you only have $7 to pay your employees and cover the cost of doing business licences cookware etcetera them asking $20 an hour where do you think the money comes from? If the product isnt worth the money how am I as a business owner going to pay you? We would have to sell alot of burgers.
@@smokeybanks2195 if that's the case wages should be raised along with food but clearly that's not the case
@smokeybanks2195 It is not wages. Its greed.
@smokeybanks2195 . Have you ever owned a business? You make more money, meaning if you already had a sustainable business plan, then profit will go up in line with the increase of business. Leaving you a surplus of income to hire more staff and increase pay whilst also making more profit. That's generally how business growth works.
Don’t eat that crap. Your heart will thank you.
Your butt will thank you 😢
no
As well as your pancreas
I don't have a home to cook in... I lost my housing twice during the pandemic and live in a Toyota Sienna minivan now.
@@Network126that's rough man, hope it gets better for you.
So they are choosing to either screw the employee or the consumer but never even consider cutting back on corporate profit that are going into shareholders pockets. Things like this is what will cause the collapse of Capitalism.
Well they don't care. As long as their pockets are lined it doesn't matter that businesses start falling left and right.
I work as GM at one of these places. Cost's about 40 cents to make a taco. They sell it for $1.40.
Over the last year they raised prices 40%. They only raised wages by 4%. Food cost's did not raise anywhere near 36%. Where's all that extra cash going? Profits. In fact the owners are so stressed for cash that they bought 2 new stores the last year.
This all ignores the fact our food quality has gone down drastically over the last 4 years to cheaper options, but they keep raising the prices. Edit: I also forgot to mention that we staff less people now and are required to put less of the daily sales to labor, and they never fix, or sometimes replace, equipment in the store anymore. They have the money, they just dont want to spend it unless absolutely necessary.
...PRICE GOUGING....Look at the Price $$$ of Latex Gloves and Bleach...Covid Ended
If what you said is true and they only go to profits then why are their margins thinner than ever? Seems like you're either lying or misrepresenting the data. Mcdonalds wages in my state alone raised 19% from jan 2020 to jan 2024. Seems like you're lying :)
this 1000%.
it's not wages it greed.
2000% true GM here for a certain famous hot chicken chain, Profits have gotten to a point to where their stagnant and trying to appease shareholders/investors with unrealistic growth .... This will with 100% certainty come back and bite the chains in the ass cause eventually those middle class people will slow down and all the lower class people they shut out just simply wont return....Its absolutely greed not wages and the only people who will pay the price are my cooks/servers when I have to let them go cause corporate is ran by abuncha morons
Someone told me that the prices of fryer oil tripled since 2020, although I was really skeptical at the time. Is this possibly one of the contributing factors?
The collapse of fast food is a blessing to our health and budget. Greed has destroyed the simple operation of McDonald's that prided it self on "quality, service and value". You took sloppy food and tried to make a Starbucks style with upscale restaurant design. Now you can shutter them all.
keep allowing the left to destroy everything our grandparents built.
Ironically in their greed they are making us HEALTHIER ( no more obesity in a few years ) and with more money.
THANKS McD!
Its more expensive to eat from the grocery store and get the essential fortified nutrients. If you think fast food is expensive, then grocery will soon follow the same suit.
The "greed" part is silly. If they could always charge whatever they wanted, why did they just start now? THE cause of higher prices is the Covid stimulus payments from 2020 - 2022, much of which was absurd and unneeded.
The "greed" part is silly. If they can charge whatever they want whenever they want, why did they just start now? Were they not '"greedy" before?
My favorite thing about the price hike, is while service and food quality has decreased, I found a local mom and pop shop that sells burgers, freshly grinded meat and they sell other cool food items that change. The loyalty program requires nothing, they just let me try new stuff and give me free food from time to time.
Those places, generally have better food for the same price as fast food now.
*ground meat❤
Line must continue to go up. If you can't underpay your workers, lower the cost of goods sold.
Mom n pop places are the best!
Problem is city zoning laws make it hard for them to open up.
The best way to combat fast food prices is to boycott. The bonus is you’ll live longer.
not fast. not food.
And no cheap.
well said.....
It's food!!😂
Lies again? Driver Chauffeur Debit Card
@@davemellors199Its edible garbage
What I don't understand is how In&Out has been able to pay their employees so much and still have great prices. And now suddenly, every fast food place, McDonald's, Wendy's, etc. can't "afford" to pay the wage increase to its employees so they are starting to charge airport/theme park prices in order to pay their employees. They all basically get their products for pennies.
Corporate Greed is truly hurting the world.
In & Out probably has greased the right wheels and has politicians and judges in its pocket. Like Gruesome Newsome's laws that conveniently exempt his friends' businesses.
The difference is supply and demand. Almost everywhere an In-N-Out Burger is located, there is a line of cars not only around the building, but often times outside the entrance driveway into the street and around the corner. No other burger place comes close for loyalty and demand among its customers. Also, the fact remains that In-N-Out is wholly owned, with no franchises.
@@alexp3752 I don't think it is that. These other massive fast food corporations posted millions to billions in profit. Starbucks made such a profit that they could have given all their employees an $11,000 raise and STILL made a huge profit. McDonalds is just raking in money. It is greed from someone at the top.
Illinois has zero In and Our Burgers. Non in the Midwest.
Don't worry. No one is falling for the corporate gaslighting.
Meanwhile, the McDonald's ice cream machine is still broken.
Have you heard the about the reason why it's like that. Apparently their employees are not allowed to fix them, because of a 3rd party contract.
@@KSmithwick1989 bro watched the food theory episode
Well, if the sheep in Commiefornia get $20 an hour to work in MuckDonald's they better be able to do the work a $20 an hour tech does.
😂
50 cent cone?
When I can buy lunch at a real Mexican place, and it's cheaper than fast food, fast food has lost.
Support your local businesses, not these multibillion dollar conglomerates.
local businesses arent open late, are sometimes just as bad (if not worst) and dont offer the same quick and easy solution, i hadnt been to fast food outlets in 20 years but with my job sometimes there is only that open late on a winter night
Most are franchised with many being local
not many local fast food joints. Also, most local places are vastly more expensive than chains.
@@Fools_Requiem really?
Local is hit or miss with its quality, inconsistent and just as expensive.
They'll keep raising prices so long as you keep buying.
Exactly. People keep complaining about 'capitalism', but keep buying capitalist crap.
Facts! Prices continue to go up and demand has not let up. Let’s vote with our feet!
Yep. I recognized this real quick. If customers keep buying then the company behind the products they buy from will have no problem increasing price on that set product.
@@GB-ue6wr Some will .. most won't.
I've noticed that it's those who complain the most about capitalism, who have the highest consumption of goods and services. The ones I know are always eating out and travelling. They think because they buy some of their clothing from charity stores, they're fighting capitalism. Their frequent overseas recreational flights are apparently supplied by climate activist vegan marxists.
Nope. Federal and state govt keep raising the min wage, and taxes getting cut. Money has got to come from somewhere, and it just so happens it comes from us. Prices will continue to soar and america will enter a dark age of corporate dominantion.
Made a roast fed 2 adults 2 children 17 bucks, now mc donalds, 37 bucks, yeah I'll cook from home
Good call i agree plus the roast is much healthier then that crap
I wish roast was that cheap where I live in California
There ya go. Smart.
My ass learned how to make smash burgers from youtube and tic tok. Fast food isn't economical anymore for a qucik bite. I meal prep unless I have a craving.
@@seagburg even for pork shoulder?? cuz thats the high end for a pork shoulder or pork butte around here
beef roast varies in the 17 to 25 / pork depending anywhere between 11-20 for a standard 8-10 lb
something that has been confusing me lately is the constant 1 dollar a lb deals we keep getting for drumsticks,thighs, and sometimes even chicken breast lately.... like really confused after being gouged for 18 months
don't think it makes sense in california as next to iowa they are 2nd largest i thought for pork
i remember not that long ago when a footlong at subway was only 5 bucks, now its way more!
Damn near triple now. In 2009, a beefy 5 layer burrito from Taco Bell was 89 cents. Now it's damn near 5 times that.
I paid $17 for a footlong, and that’s holding the guac, ridiculous!
Did anyone notice that they never showed the profits these companies made?
If there were profits, then they wouldn't be raising the prices. What are you talking about?
@@skip031890 Bro have I got some news for you. The news? Record fricken profits dude
McDonald's gross profit for year ending 31st March 2024 was $14.6b a 9.3% increase from year ending 31st March 2023. Wendys profit for 2023 was $2.1b up 4.1% from 2022
Not just profits but profit margins are sky high right now, they are charging 50x more than what inflation actually is.
It's pure greed.
@@skip031890 they're saying that these places are raising their prices way more than the cost of doing business is rising. So not just the Profits but also the profit margins have grown massively. The prices aren't rising because of inflation, it's pure greed, they're just charging more because they can get away with it. That's the point the person was trying to explain about the profits.
"Pay no mind to the RECORD corporate profits and BILLIONS we spend in ceo bonuses and stock buybacks, kids! The problem is YOU and your darn $2 wage increases!"
McDonald's missed its projected profits actually, but keep making up fake news.
Yup! Blame the working poor, not the uber wealthy. Makes total sense!
@@donaldspaulding6973 Why are the rich to be blamed? They're the ones providing jobs for these poor working class.
@@kommisar. They're providing jobs by overcharging poor consumers.
@@duckmercy11 If they're "overcharging" them, then why do the customers keep paying it? It's not like buying fast food is a vital necessity.
Cook at home instead of supporting these fast food giants with their inflated prices.
Bot
@@kemmybelleuwuShut up
Eating at home seems to be cheaper. A single trip to a grocery store certainly is a bigger ouch per transaction though. 😅
@@mitchellsager4343 also sometimes you dont eat all the groceries and it goes to waste or you buy a bunch of crap also
@@kemmybelleuwuBottom feeder ! 🇺🇸
My grand parents who are asian recently died at 88 and 98. They are credited by not eating fast food (maybe once a month) our grand mother made 3 home cooked meals daily non stop 365 for over 50 years. They lived in a small town in Arizona and lived a no stress life. My Grandfather, even at his old age, walked early in the morning 5-6 days a week. My Grandfather lived to 98 and his diet for over 40 years was a basic full breakfast and a small sandwich or soup for lunch and just toast for a dinner if any at all. This simple life style changed and saved their lives to live much longer. We all can learn something about this diet. Fast Food will shorten your life by at least 10 - 15 years according to our family doctors in our family.
Another “secret” to help live longer is standing and walking as much as possible vs. sitting and laying around. I guess that helped your grandparents live a very long life.
What is not addressed here is how demonstrably bad fast food is. From being given the wrong order, missing items, large fries half-filled, one napkin for an order that is clearly for multiple people, and let us not forget the food just plain sucks most of the time, it was not a value proposition back when prices were somewhat normalized. Now it is just a blatant rip off.
And god forbid you ask for ketchup with those large fries. You’ll be lucky to get two packets.
Elitist Much?
I’d rather spend $20 and go 1x per week/2 weeks to chipotle, Firehouse Subs, or 5 Guys. I’ll take something higher quality if I have to pay more. I just won’t go as much. But I refuse to pay $20 for Wendy, McDonalds or Taco Bell. If you have to pay over $15 to get full at these crap chains then you might as well go somewhere where there’s better quality.
The only credit I’ll give CNBC is that they forgot to turn the comments off, and I’m glad that it seems that everyone understands it’s corporate greed and price-gouging which is why we’re at this current point
That’s part of it. Never let a good crisis go to waste. But who is behind the inflation crisis? here’s a clue- Gov. as long as they keep borrowing and spending and handing out free cash your money becomes worthless. Even worse, while the average citizen received some relief from this, the majority of the billions went to the rich.
No, Covid stimulus spending is why we are a this current point.
Sort of. In terms of the quality versus what you get for your money, yes. In terms of increasing businesses costs, no that's due to idiotic liberal legislation and the government attacking logistics, farms, and food processing.
@@robertd9850braindead take. When stimulus checks were being handed out, wouldn’t that contribute to increased volume, and therefore companies not needing to increase rates to maintain revenue? The only likely response is corporate greed and a carnal need to increase margins. You’re being fed lies from your media and being told how to think, and I feel sorry for you.
LOL don't you know how money supply works? You call someone braindead when you don't grasp the most fundamental theory of money
I am sick and tired of workers being blamed for being "paid too much" The idea that a big mac has to cost 15 dollars for workers to be paid 15/hr is absolutely insane. These corporations are ROLLING in dough, they are not strapped for cash. They are doing this out of greed.
Exactly i dont feel bad for them. If McDonalds and the like cant afford to pay workers, then go out of business. We will get better mom and pop restaurants then.
I agree. I feel like it should be cost should be 1/3 materials 1/3 labor & 1/3 profit.
But they lump materials and labor together and try to decrease it as much as possible to increase profit as much as possible.
Its price gouging
It's incredible how restaurants and fast food joints in Europe can pay government regulated wages just fine and keep normal prices without blaming the workers or extorting the customer with "tips", isn't it funny?
McDonalds has to pay their workers $20 an hour to start in California. You think there will still be a $1 menu? All the food prices are up for companies, just like they are up for you.
THE TRUTH IS THAT PEOPLE ARE STILL BUYING IT, that's the problem, stop going there and watch how fast the prices will drop., plain and simple. PERIOD!
Imagine paying $12.00 for a Big Mac then waiting 10 minutes to get a dry poorly made burger with paper thin patties.
some cities big mac prices are between $18-$21 per big mac meal.
I didn't pay for a Big Mac but I was really surprise by just how small and thin the patty was. 😭
@@icewings1984 They have been like that for over 30 years....
Lies again? Driver Chauffeur From Transformers
Fast food has become a luxury. Cooking at home is far cheaper now. This is a good thing
I love how the CEO making millions of dollars in bonuses never has anything to do with rising costs of fast food. It's only ever the worker's wages for these so-called ExPeRtS.
Most fast food places are franchises not owned by CEO but local people trying to make ends meet. The DQ I used to work at owner made $75000-$100000.
Anti-Capitalist gaslight snorting much?
I mean he went to school and worked hard to get to that position. He can do whatever he wants lol
@@henrygarcia4517This world is slowly becoming unlivable because of people like you... Corruption and greed is taking over cuz of people like you.
Most CEOs only give orders. to cut jobs. A Kroger CEO got drunk at a seminar in 2014. Admitted he did nothing at the job. @@henrygarcia4517
*Skyrocketing prices has saved me I lot of money. I eat at home a whole lot more.*
Well said, right on!!! Cook your own is best!! More of your money goes to the real food producers such as farmers instead of goes to large greedy corporations that sell harmful junk food. Buy from real local farmers, even better to grow your own vegetables.
@@Anonymous------it’s illegal to grow your own vegetables
Same
That’s cute lol I eat at home and can barely afford groceries…yall act like grocery prices aren’t skyrocketing as well lol
Its blessing in disguise cause people are forced to eat homecook which is cheap and healthy.
Fast Food is a treat not a daily diet.
yes. on the bright side i guess now as prices go up american's obesity rate will hopefully go down 😁
Zero mention of soaring corporate profit margins. Labor is not to blame. If minimum wage had kept up with productivity we’d be at over $23 an hour by now, instead the growth goes straight to shareholders and executives.
Fast food places pass minimum wage increased to you and me. Labor is to blame. Watch the video. At the same time many fast food places lay off workers because less people eating out anymore. They also invest in machines replacing human workers. Watch the video.
Thats whats annoying with how they mention the rev growth at 4:40. Its about profit margin, they have bills too so it doesnt matter if revenue went way up if theyre expenses did as well then its a wash. Yes profit margins are skyrocketing and thats where the problem is, greed of big corporations and the gov in bed with them.
@@insethurdle88 so would you take a pay cut at your job so that the savings can be passed onto consumers? (If you work)
No, that number is cooked. Adjusted for inflation the minimum wage has never been more than 11.00hr, federally. How they get that ridiculous 23.00hr number is almost certainly like this…
Imagine I help you bake a pie and in return I get 10%. Then I bake a pie three times the normal size. The people claiming minimum wage should be $23 would say I deserve 30% now, while a sensible person would know I still only deserve 10% because that 10% would be three times as big.
@@specialagentorange4329 If I'm the employee then no if I'm the owner then yes. Higher profit margin means the shareholders ie the owners are making more than before but the employees are not.
In other words your burger thats costing you a dollar more is going directly into the pockets of the shareholders. If this wasn't happening then the profit margin wouldn't be what is rising but rather it would stay the same and you would see an increase in revenue and expenses equally.
We're a 100K+ household and we've quit going to any fast food places. There's just no reason. Their advantages were they were fast, convenient, and cheaper. They aren't fast anymore, their hours at least where we live have been cut way back, quality is down, locations have closed, prices are through the roof, and now many places are pressuring you to tip. So they aren't convenient or cheap either. There are plenty of full service restaurants that offer way better food for similar prices and in a similar period of time. I do miss McD's fries, but not enough to want to go there.
Yup I'm 29, single, no kids and earn $120k. I only eat out twice a week. One taco bell due to being next to my groceries place and my true treat of Chick-fil-A. That's it. I make my own coffee at home, make meals at home, and I've gotten significantly healthier. I'll spend a bit more for higher end groceries and guess what, still way cheaper than eating out fast food. I could easily afford eating out daily but it's no longer a deal vs my health.
Rarely eat at McD’s but the other day had a craving for their fries. They were thinner and, I kid you not, shorter. They were like shoe string potato chips.
Single making 45k and fast food just isnt an option like it used to be
Learning how to make a good burger at home and taco/burrito with better ingredients is the future
All the advantages that you mentioned for fast food are why we ate at those places. And in exchange we got served crappy food. Which was the cost. But with the advantages gone, why pay the cost? No longer worth it.
40 cents for adding tomatoes to a sandwich or a taco blows past a wage hike. It is a gouging that the industry got use to during the pandemic.
I haven’t watched the piece yet, but I won’t put it past these businesses to price gouge
Fast food should have free or low cost options for poor people
Food was cheap during covid. You seem to still be recovering from the C19.
: 100%
So, how many layers, do you think their are. And each one is effected. Do not forget the taxes, that follow through,to pay the government employees,that should be above , button. Tiers. The layers,make it more expensive, because a lot of people, are being paid. Advertisment, goes by percentage, now the gross has to be higher, or else you have less advertisment, becouse you pay a percent,less money for percent less advertisment. The field is simple,but everything has to increase, a nurse had recently, been how many times min. Wage. Now it has to be higher. So the insurance bill has not hit. The business, risk has increased due to inflation , the bill has not hit.takea 5 years, for property renegotiation some 20 years. Now, that bill has not yet hit. This are the layers of a business, at least 20 layers, which I impact jobs outside of the employees
But it's gonna hit. We have in our area due to inflation, warehouse work ra ,who were equal, to the area,this is gonna change, has to increase, else warehouse employees,and trad a will be making min wage.
Sure! Blame the workers for corporate greed!
The 4 piece nugget from Burger King was 3.99. I was like, no thanks. I paid about 3.00 for a child size fries. I don't even want to talk about 5 guys. It's 25.00+ per meal now.
Those restaurants should have free or low price burger options for poor kids
Wasn't it like $1.49 for 8 pieces a year ago?
Prices are very good at Denny's. I had a burger and fries for $8 + $2 tip = $10 just Friday night. Grilled Wild Caught Salmon, Grilled Vegetables, Garlic Toast, and a salad for $11 + $2 tip = $13 on Wednesday night.
$25 at 5 Guys 🤯🤯🤯 Expecting some of these stores to close down in coming years. Thanks goodness In-N-Out continues keeping its price unchange, mostly!
Yes, 5 guys has gotten ridiculous. $47 for 2 people to eat.
It's not inflation, it's corporate greed.
You could just learn to cook, and maybe even grow some of your own food.
IT’S BOTH!!
@@bigdaddy4691 Who says he doesn't?
@@aimeeinkling The point is that fast food is a luxury. Corporate greed doesn't matter. It is entirely a consumer choice driven business model. Nobody needs fast food.
They wait until inflation and then raise the prices even higher to make extra profit and hope no one will notice. They aren't the only ones doing this.
"It's definitely due to labor costs"
My bro I live in Nebraska. Fast food places here have been paying 11-13/hour since 2014, every place is understaffed, and prices are STILL rising just as fast as in places like California and Seattle
I live in omaha nebraska, I can confirm this true
California here. Prices have been going way before the $20 min wage law kicked in. Like, since 2021.
@Chris-ct3gc IIRC, wasn't there a thing in California around that time where a bunch of fast food places declared "due to understaffing, we have to be open less hours per day. Therefore, we're raising prices to make up for the lost business"
It's because the CEOs want to pay their self another 1 million dollars a year, it has nothing to do with the lowly worker making more money!!
Charging exorbitant prices for low quality food and than blaming it on the crappy wages they pay while your executives are getting massive bonuses and profits are sky high is CRAZY WORK.
Stop going.. we the consumers have had the power against greedy corporations this whole time.. I guarantee they will drop prices and jump thru hoops to get us back .. you want to eat out, choose a local mom and pop pizza place or burger joint..
Ppl can say it’s because of inflation and higher wages but at the end it’s just an excuse from these companies… it’s just greed that is driving prices up
Companies only discovered greed in 2021 onward?
@Drybones195
Obviously not, it was that when "just in time' style supply chains produced shortages during covid, that was the excuse to price gouge.
It's pretty much a fact now, the research into it has been done.
Why do you believe MacDonald's raised their prices so much, so much more than their wheat, meat price increase etc?
@@Drybones195No, only now that companies just balantly raise prices at a high level to see if they can get away with it. They want to see the limit of what bs people will take.
They aren't going to price themselves out of business if they can avoid it.
no, companies usually charge as little as possible in order to get the most sales possible, when they raise prices to keep up with their costs, competitors can undercut them and stifle their sales if they raise too much. I know plenty of poor people running restaurants who have been raising their prices, they aren't doing it out of greed. you're watching rotten news sources or have a wild imagination. the reason their prices went up is because their costs went up. food, labor, repairs, taxes. everything is going up. it's because we printed more money in the last 4 years than in the previous 100. vote out the fools.
Just stop going. Its not like these companies are struggling. The prices are going up but so is profits. They pay more for labour and you pay that. They're profits dont go down.
Not everyone has a home to cook in...
@@Network126 Look of course. If you can get away with not eating this stuff (even though I honestly eat too much) you should but sometimes you just have to. Tbh the price is getting so high you could eat in somewhere healthy for not much more, but I understand sometimes its a necessity and thats a shame.
@@devanman7920 I'm homeless and live on fast food... But I use the apps to get deals and points for free food.
They don't pay alot for labor. They work on skeloten crews. They make a killing. & don't care if you Karen's & Ken's come in being rude in the drive thru.
In add and subtract math.. But this is much more complex. It's all broken down in percentages and labor percentage increases are where the issue lies
I used to get Mcdonalds almost weekly with flatmates as a Saturday night treat. We haven't haven't had it in 3 months now. The way we see it, the price they ask is so high we're better off spending a little but more going out to eat in a nice restaurant.
Executive compensation is too high, franchise fees are too high, advertising spending is too high, but sure blame the people wanting more than 12 bucks an hour.
"They don't" have to work there if the pay doesn't suit them, just like "we" don't have to eat there if the prices are to high. No difference
Open your own restaurant then. You all complain about executive compensation but never take any risk. Sounds like leech mentality.
Then pass laws to limit CEO compensation, franchise fees and advertisements fees and see what happens. The question is why the Democrats did none of these things when they had control of both houses and the presidency.
I don't blame the workers at all. This is all part of shrinkflation. The minute they tried to charge me 4 dollars for a McChicken, I rebelled.
@@fred-ts9pb So you're suggesting no one should ever work at a fast food restaurant.
McDonald's net profits for 2023 were up 37%.
Fast food is to expensive because McDonalds and every fast food brand that Yum foods owns are engaging in predatory pricing.
blame the fast food junkies ,
so inflating prices on items you sell INCREASES NET PROFITS ? REALLY ? YOU ARE KIDDING.
Just typical capitalist corporate greed. Time to vote with your wallet.
@@GODisLIGHT-k2g Food deserts are a thing.
No, living costs in general are up, its not just Mcdonalds. And its because of progressive policies. So called Climate change policies especially add to increased costs.
Here's some cold hard truth - companies will generally charge as high a price for their product as customers are willing to pay, because that's the most accurate reflection of how much perceived value their product/service is providing. Why wouldn't they increase prices if it will lead to more profit? For a corporation, their responsibility is ultimately to their shareholders. It might sound harsh but they don't exist to cut people a generous deal, they exist to make money. If you think they're charging too much, stop giving them your money. If enough people do that it'll hit their profits and they'll have to reconsider their strategy and lower prices.
Exactly, but people rarely unite
This. I only buy it when I'm really craving it and willing to "splurge"
And that's exactly why the housing market is the way it is as long as people will pay 1.7 million for a home that's worth 200k at best elsewhere It's not going to get better consumers have to take back their power and mean it
If you haven't noticed, Prices never go back down to what they were. Once they reach an all time high, they set a new all time low. The goalpost eternally moves in this country.
If the high was 12 dollars, the medium was 6 and the low was 3, they'll keep pushing. Then the high will be 15, the medium will be 12 and the low will be 9. We will never go back to the 3. No matter how much we wish or don't spend at a company. Companies would rather shut down and leave an area than accept paying their employees more or reducing prices.
Yup exactly
Today's breakfast: 5 hash browns with melted real cheddar on top. My cost? About a dollar or so. Cost at McDonald's? Over TEN dollars for the hash browns alone but McDonald's won't give you melted cheese, that would jack up the price substantially. That's a 10 to 1 ratio in terms of cost. My pizza, steak and burgers are as good or better than theirs. We don't eat out anymore.
If ALL consumers boycotted ALL fastfood for a week, you'd see prices drop real fast! Imagine if you boycotted them for a month... They'll feel the pain for sure.
When you combine your voice, they'll hear it loud and clear.
Just look at the car industry. Car prices are surging as well and middle/low income people are being priced out of the car market or are taken on high interest rates. lots are starting to fill up.
@@thedragonofdalzellI've lost count how many times the dealership I bought my 2019 fiesta has sent me notices trying to get me to trade it in. I've only got 40 some thousand miles on it. Anything I could buy would be double what I paid new for it.
Boycott all you want
Costs are up plain and simple
Prices would drop, but eventually many of them would go out of business. You can only drop prices so low, before it goes out of business.
But prices already drop on the daily, called discounts. Its why I never buy fast food unless I feel there's an offer making it worth it, and I happen to be in the mood for some fast food.
That is happening here in Canada. Loblaw's owns almost all the grocery stores. Canadians are boycotting them for the month of May. Now the CEO is whining that it not his fault, even though we know it is. His family own the company and making record profits.
Everybody just needs to quit going and you would be surprised how the prices will come down
Good point bro
Or idk learn to cook at home. 🤷♂️
🎯🎯
In this case I don’t think so. The places will go belly up and replaced by something else. Whether or not that is something run by the government or not remains to be seen.
If you just search for “Johnson” “Chicago” and “municipal owned grocery” you will see what I mean.
cooking at home is no bargain either @@joesmith4443
Moral of the story, you can only increase prices so much until you've taken yourself out of business.
Wrong Francis, the more they raise the price the less you go, but the more money they make from Less service. You are to addicted to stop going so they just keep raising the price for less service; making them more profit.
Greedy corporate old men.
Fast food prices are not too expensive for me. I spend zero dollars a year on fast food. We are driving 800 miles this weekend. I'm roasting vegetables and searing salmon for the trip. We'll eat it cold out of the cooler during the trip and use the leftovers on our vacation. We take water, home brewed iced tea, and ice on trips, We can also boil water using a backpacking stove to have hot drinks. I can heat up leftovers, too.
The reasons the prices are so high is that CEOs refuse to take pay cuts. Then they hear that the cost of ingredients is up five percent and they say, “that’s a great reason to raise the price by fifteen percent and make even more profit. Anyone asks why prices went up and we can say inflation. Don’t blame us, it’s inflations fault. We’ll be on yachts where you can’t reach us if you need us. Bye, bye now.”
Don't you love how CNBC immediately blamed increased minimum wage as almost the sole cause then 6 minutes in reported that the companies saw about a 25% increase in profit last year? But, yeah, its the workers wanting to be paid a living wage that's the problem, not corporate greed.
Yep. Now you'll have morons in your replies trolling or astroturfing when the facts and numbers just don't lie. Corporate greed is at an all time high and it would seem ignorance is also up a tremendous amount.
LOL yep. Something I will never understand. Why, why do they need to exceed growth. Every single year or OMG Recession/Depression fear mongering! They're making BILLIONS of dollars and should be happy. But nope, that's not how Corp works, apparently.
OF Course! CNBC makes it's money by carrying advertising, not by solving the plight of the common working man! If they start advocating for wage hikes and lower prices, THEIR customers are going to stop advertising on their channel! Why are you getting your 'fast news' from television?
@@holmbergaudio Nah, I get mine from Temu! The workers still get paid next to nothing, but in order to try and put Nike out of business, they sell them for less than $15, and sometimes throw in free shipping!
@@Jason-g6q Sure they are! They just cut out the middleman (the poor), and donate directly to themselves, then hire accountants to conceal their acts of fraud! That's how the US has done things since Reagan and Milton Friedman...
Blame the labor for increase in prices but they never talk about how much the CEO's make in their salaries or the tax cuts that these businesses get. The fast food employee is trying to survive, the company is trying to make huge profits and blame others
Agreed, and you can’t blame nationwide price inflation on California’s wage laws.
I mean we heard this through unclear veiled words from that CEO. Strengthen the value proposition means, "our operators who take home more than our labor force are making it hard to get these people to buy" they are asking for these operators to create $1 items and take a paycut without saying that out loud. What ends up happening is they just don't hire enough workers and they take home more pay and they charge $2 not $1.
What do you expect, do you think news companies will shed light on the people in charge of those companies, course not, they are too dumb to realize this or they have been bribed by them to say bad things about labor unions or the employees.
To be fair if you cut CEO pay that does virtually nothing concerning costs. Also, most fast food chains are franchises and are considered owned by small business owners. They don’t make a whole lot, considering the overhead costs.
If youre trying to survive on fast food money youve got bigger problems. We have grown ass ppl not kids at mcdonalds now, so theres that...
Why not just give the higher ups a pay cut? No. As usual their pay just keeps going up exponentially more than their employees yet they want to blame them for wanting to have enough money to be able to afford toilet paper while the C.E.O is chilling on a yacht.🙄
CNBC blaming worker's pay. Color me surprised. These companies have made billions upon billions, labor is a small drop in that ocean. Give me a break.
"How could we have predicted this thing every economically literate person predicted?"
Tell me you have no idea how a business works without telling me
They charge me extra money for an extra slice of cheese on my burger, *but they expect me to give them extra effort while only paying me minimum wage...*
@@coke8077tell me you don’t understand arithmetic without telling me 😂
Exactly.
i work at mcdonalds. yes rising labor costs is part of the problem, but when our min. wage goes up they just cut people's hours so their labor costs are still about the same. they're just greedy, employees are overworked and always understaffed while the customers are mad when the service is slow. only the people up top win
I believe you.
Wish you could of seen what a big mac was in the 70s, compared to the ones now.
I totally agree with you. I work also at McDonalds as a working student in a small town of Europe. It doesn’t matter how much a branch makes in a day, you will get only the bare minimum wage. Even if they make multiple times of profit they will never give a penny as bonus to the employee.
These chain shops are nothing but a factory of modern day slavery. If you work there you have to forget about your family life, social life, personal space, you’re just a number to increase their sell.
Also a lot of the guests are simply respect less to the workers.
I wish I could get another Job tomorrow so that I don’t have to go to this hell again.
Learn skill and get a higher paying job that not anyone with thumbs can do…
The more you complain, the faster your jobs are going to be replace by AI or robots
McDonald’s CEO was paid $17.8 million in 2022. It would take a typical McDonald’s worker more than 1,200 years to make that amount.
Because the right CEO can make or break 1200 jobs, easily.
6:00 mark, this weird guy wearing those lame dorky ear buds is saying that people had additional Covid money that they were using on fast food? Literally nobody spent that money on fast food. Most of us saved it, and invested it, and used it to save in the bank.
I haven't been to a fast food restaurant or a movie theatre since well before the global pandemic, and I don't see that ever changing.
Fast food is why so many people are fat, all the chemicals in the food. Eat mainly vegetables and fruit, and whole grain bread in small portions, with a meat product or meat like protein about the size of the palm of your hand is all you need.
It is big corporations like CNBC that are causing all these problems, we need to reinstate Dodd Frank Act, get rid of corporate lobbying. Institute term limits in politics at every level of government, ban private donations, track everything on the blockchain, so we can see where the money goes. Also need to start voting with our phones, so everyone can easily vote, and there's zero chance at fraud. Just make it so you scan your driver's license, and then have a 10 minute timer to vote.
@@Dennis-nc3vw Let's be real here, that's just not true. Corporate CEOs are just upper management guys who knew the right people. You only think they're geniuses because they're wealthy. Sure, there are some wunderkind up there, but guess what? People ran companies for less than a million back in the day and the job still got done. Labor is what matters, labor and the lower manager who keeps your food fast and clean. The CEO's only job is to generate wealth, not value for you.
@AlWorth9738 if you truly think that than you’re a clown 🤡
@AlWorth9738 And some workers are not even worth hiring.
Just don't eat fast food. Problem solved. I am not college educated but I know how to grow vegetables and can budget for home cooked meals like a champ. Fast food is a want NOT a need. Home cooked is healthier and far more cost effective.
Im starting my first vegetable and spice garden next season. Wish me luck! My neighbor is gonna help me build a chicken coop too.
I used to buy McDonald's because it was cheap, nowadays, I haven't bought McDonald's in almost 3 years. Their prices are ridiculous.
Always taking a shot at labour, never investors.
It's corp....all you ever hear from them is ohhh boo hood I have to pay my employe slaves.
Umm labor is one of the biggest cogs. And How could investors possibly be blamed for price increase? 😂
@@CommonSense-uj9ip Investors/Shareholders directly push for increased quarterly returns, aka increasing sales prices if the market allows. Either that or suppression of wages and reducing expenditures. Investors are very much one of the major players in increasing prices.
$20 an hour to put fries in a bag????
remember when these workers threatened to unionize and demanded $15 an hour, which was about double what minimum wage was in these states at the time. and people scoffed... then the government gave it to them last year ($16) and now even worse this year ($20), where does it end? I am a middle aged professional and I can't even afford to buy a side of fries for $3, when the burger is $8 and the drink is $3 due to higher wages and materials costs. It has ***nothing*** to do with investors. I'm a small time investor so I should know. McDonald's stock recently tanked, among others like Southwest , Boeing, etc. Taking a lot of shareholder equity with it...
@@kyletrusler4565 investors are the only player in the company existing my guy .
Fast food is among the worst food for your health. Just avoid it.
Love how these companies cite labor costs as the primary cause of inflation, when the truth is that greed is the true cause. We are suffering under a massive wave of "Greedflation".
So why are costs always lower when progressives are not running things? Why aren't these companies "greedy" when progressive policies don't exist? Costs in CA have been super high for a long time and its a direct result of those progressive policies. Biden has made a lot of those CA policies national so now every state is getting CA prices.
That is a real thing in California, though. We just had minimum wages specifically for fast food raised to 20 dollars an hour. This place is run by people who do not understand economics.
@@NNic. No. As indian, it is pure GREED. The more the company raise prices the more they make. If you sell a product for $15 and you sell 10 million of it, raising it to $30 will double your revenue. So next year you will increase it to $60, then $120, etc. There is no limit to GREED. A car used to cost $200 in 1920. Now an average car cost $45,000. That is because of nothing but pure GREED.
@@PulseOfOpposites😂 dude c'mon now. 20$ an hour from 14$ an hour is like 22 cents more per food item.
@@NNic. The McDonalds corporation makes its money from franchise fees, not from operating its restaurants. The franchise fees require extremely little labor and has been achieving ever increasing profit margins. The franchisers need to pass down these franchise fees to the consumer or cut other expenses. I personally think this is where the issue is for McDonalds. The labor cost for most restaurants is only about 30% of the price of the meal (has been shrinking lately) so that’s not where the issue is.
Scandinavian countries pay around $20 an hour and they arent dealing with this. Its record profits!
Scandinavian countries consistently have the highest prices for fast food because they have high taxes, strict regulations, and added import fees. They don't have minimum wages and the average Swede working at McDonald's makes about $12 USD per hour, but a Big Mac Combo is around $15USD. You are talking out your ass. Do you think you can make up random statements and no one will call you out? Higher wages obviously increase prices. It's math.
@@geocam2no amercans they'll go bankrupt on medical bills. And no one is paying 70% tax. Stop drinking booze and eating fast food. While listening to infotainment
@@garettjames6349Scandinavian people don't eat that trash as much as we do. Now get a job, wuit drinking, stop with the fake news hair helmet toupee nonsense
@@garettjames6349 Money is a relative concept. LIfe is Scandinavia has many comforts and supports that would be beyond the cost reach of Americans making a minimum wage or more. Costs vs benefits can not just be measured by a base number equivalency of wages. It's a trade -off depending on where.
There is no across the board minimum wage across Scandinavia, though.
It’s not worth it anymore. Grocery prices fluctuate. Once fast food goes up it stays up. They overstepped.
“Passed on to the customers”
That explains everything. Increased pay is not the problem. Passing the costs to the customers is the problem
Buy a crock pot. Get some spices
Eat less. Most of us eat too too much. Eating out is a treat. Not a band aid for outsourcing our manufacturing base.
Absolutely a great idea 👍 Great way to eat
Crock pot is amazing! A delicious meal for cheap. Agreed.
I just finished cooking 2 chuck roasts with potatoes and carrots in mine. 9 servings for $24. Delicious and only $2.67 per serving.
EAT LESS omg, what a concept. But seriously, thank you for this comment. Obesity is quite common nowadays and the majority of Americans are overweight. Eat less ppl or at least eat more filling food like vegetables. You'll save money bc you'll eat less overall, I will bet anyone here on that!
absolutely, you nailed it. what is mindblowing is just how little we actually need to eat
Companies are reporting the highest profit margins in history. WAGES HAVE NOTHING TO DO WITH IT!
Net profit?
Yes, Net profit increase Because of Inflation. duh. Margins only change for ev's.
It's CNBC, that's why.
@@francismarion6400 ok
Your brainwashed
If you don't buy it...doesn't matter how much they charge.
There's nothing better than a big Mac though.
@@TurkeysLeg I can think of lots of things.
@@gary1213 your opinion is actually in the minority. The big Mac is rated as the most popular burger worldwide, there is no better burger
@@TurkeysLeg I feel so sorry for your limited food experience. "There's nothing better than a big Mac" is probably the most pathetic thing I've heard in my life.
@@Sam-kx1qc the most popular burger in the world is the big Mac if you disagree then your opinion is simply in the minority. It is the best burger
If you want to talk about wages, start at the top and work your way down.
Starting at the bottom and looking at the cheapest staff makes no financial sense.
The kids are making $15/hr vs. the CEO making 20million a year, each board member 500k a year......yeah, $15 kids are really the drain of the company. 🙄
I paid 37 dollars at subway for 3 sandwiches with no drink, no avocados. I told myself never again and kept to it 3 years now. Absolutely no effort into makeing that move, and I did not tell that story until now. It's the feeling of not getting value that made me stop. That effect is tricking down to a lot more people than me.
Use coupons??
@@TheRunningLeopard gimmie all your 50% off coupons now
I ate at subway and a foot long cost $14. It’s 2 meals for me so it’s really only costing me $7 a meal. That’s not really too expensive.
@@LCx829 Same here, and with coupons (where I am) you can get a foot long for $7 usd. As much crap as I’ve given subway, I’ve started eating there more this year because their coupons such as the three footlongs for $17 usd can literally feed me for three days, since I have light breakfastes.
is it crime if a website or app or something stick people together to " not buy " on X place? Most of the ( no buy weakness ) is the feeling of be in a war alone.
I screamed when my wife and I went to an A&W in our southern Ontario town. Two burgers, two small fries and two root beers cost me nearly $45. Corporate greed is definitely out of control. A family restaurant in my town has burgers at $18. I stopped going to restaurants and fast food joints
Did you scream in the store?
It took you a life to understand its better to support local businesses.
@@8BitNaptime at the grocery store?
@@servantofourlordjesuschris6456 no the re-store-rant
They raised minimum wage a few bucks then doubled everything in price…. We went backwards…. Life was so much better before 2020
Minimum wage should be $0.00/hr.
@@skip031890what? You think they should pay employees 7$ an hour living in a city that make you spend 1500$ a month for studio? Spoken like a true idiot.
Not really, it was the same people just ignored things more. Prices were way more sane though!
It's definitely not capitalism and corporate greed that's the issue.
Before tRump.
The solution is simple, dont give them your hard earned money.
The whole point of fast food was that it used to be quick and cheap, but now its expensive and they take all day to prepare it. Not worth it anymore
Mcdonalds charges $2.50 for a hashbrown. Its outrageous
6:00 mark, this weird guy wearing those lame dorky ear buds is saying that people had additional Covid money that they were using on fast food? Literally nobody spent that money on fast food. Most of us saved it, and invested it, and used it to save in the bank.
I haven't been to a fast food restaurant or a movie theatre since well before the global pandemic, and I don't see that ever changing.
Fast food is why so many people are fat, all the chemicals in the food. Eat mainly vegetables and fruit, and whole grain bread in small portions, with a meat product or meat like protein about the size of the palm of your hand is all you need.
It is big corporations like CNBC that are causing all these problems, we need to reinstate Dodd Frank Act, get rid of corporate lobbying. Institute term limits in politics at every level of government, ban private donations, track everything on the blockchain, so we can see where the money goes. Also need to start voting with our phones, so everyone can easily vote, and there's zero chance at fraud. Just make it so you scan your driver's license, and then have a 10 minute timer to vote.
It's called the hash brown shakedown.
I can still get the whole Big Breakfast with Hot Cakes for under $7. Red State economics, baby. 😎
$2.99 for a hash brown in CA.
Used to get 2 for 50 cent!
All these corporations make BILLIONS in profits, yet always blame inflation, etc....
Eat the rich!
It's not corporate greed my friend, it's dumb policy put out there by the people running this country (democratic) they always want higher wages
You get what you voted for. Good example California restaurants is going under.
: Yeah., this video feels a LOT like blaming consumers and employees rather than examining things like "Why are prices going up so much when costs aren't going up so much and profits and dividends keep rising much faster?"
As someone who builds/repairs computers, I want McDonald's workers to make a better wage.
If every McDonald's worker who wanted a new gaming PC could afford one, then my business would be thriving.
And then I wouldn't need to worry as much about the price of food.
The problem is always when the top 1% are taking way too much of the profits, raising prices, but still leaving the employees poor.
I got from the video wages went up so people want to work there, and business operating hours increased.
I just ate at Dennys with 2 friends, we shared an appetizer and 3 standard plates. The bill came out to a little over 80$. Funny part is we were guessing what the bill would be and we guessed between 50-65$. When we saw 78$ not including tip we decided that would be the last meal we ate together until we were rich because these prices now adays are INSANE 😂
I paid $6.50 in California for a happy meal 4 months ago AND SO I QUIT eating McDonald's and lost 20 lbs! So better for me!
6:00 mark, this weird guy wearing those lame dorky ear buds is saying that people had additional Covid money that they were using on fast food? Literally nobody spent that money on fast food. Most of us saved it, and invested it, and used it to save in the bank.
I haven't been to a fast food restaurant or a movie theatre since well before the global pandemic, and I don't see that ever changing.
Fast food is why so many people are fat, all the chemicals in the food. Eat mainly vegetables and fruit, and whole grain bread in small portions, with a meat product or meat like protein about the size of the palm of your hand is all you need.
It is big corporations like CNBC that are causing all these problems, we need to reinstate Dodd Frank Act, get rid of corporate lobbying. Institute term limits in politics at every level of government, ban private donations, track everything on the blockchain, so we can see where the money goes. Also need to start voting with our phones, so everyone can easily vote, and there's zero chance at fraud. Just make it so you scan your driver's license, and then have a 10 minute timer to vote.
You lost 20 lbs because you stopped eating happy meals? How many happy meals were you eating each week? Also, why were you eating happy meals in the first place?
You get a little toy for each meal FOR FREE!!!! Im glad i could help you. @@perceivedvelocity9914
@@perceivedvelocity9914they probably had a habit of eating out at fast food restaurant and quit them all together and lost weight because of it, also a happy meal from time to time is goated af
I hope you are a kid and not some grown man, because those are kids meals.
Fast food was created to be accessible and affordable to everyone ,but now its expensive this is a classic example how greed ruins things. There was a time u would get burgers for 28 cents enough for the whole family, meaning more bang for your buck.
I think it was created to make money and that's exactly what it's done.
classic example of gov't mandating wages. $20/ hr. is screwing the workers AND the consumer.
This is a classic example of why you should never vote for Democrats.
@@zaccarman6683 exactly. god bless a market economy. no one has a gun to your head.
Who’s forcing you to eat it?
Blaming wages is BS. I hate that these stories never mention greedflation. Prices increases are way outpacing wage increases.
I was shocked at the bias in this reporting then I saw it was CNBC. No mention of the record profits McDonald and other chains have made since 2020 up until FYQ1 2024. No mention that McDonalds and Starbucks started facing massive international boycotts in October 2023. No mention that many fast food places have nearly half the human staff compared to 4 years ago, and spent millions (maybe billions) on self serve kiosks and cellphone apps to replace cashiers.
Extremely biased reporting.
And how is that the fault of these restaurant chains? Maybe you should look to all the presidents over the years printing money to pay for all their stupid stuff, especially the current one who passed that ridiculous "Build Back Better" program that cost $150B.
I mean wages will be apart of it. If wages increase if a company wants to keep profits passing it onto the consumer is the big way to do that
Wages are one of few reasons because California passed law to force fast food restaurants to pay employees $20 minimum wages while Floridians voted for $15 minimum wages that caused Florida became most expensive to live in . Taxes are biggest contribute to inflation that you can thank Biden for that. Tbh, corporations got greedy because they care all about bigger pies err profits nowadays.
This has nothing to do with wages or greedflation. It continues to be the dollar is worth less every day because of over printing. We have lost over 25% of the purchasing power of a dollar since 2020. Since 1913, 97%. The government borrowing, spending, waste is the largest factor in America's spiral.
with such an increase in costs, many food business are being started in smaller communities around the US we see this happening everywhere and its a good thing on many levels
Small taco used to cost less than $0.80. Now, it costs $3.29 for a quick bite. WTH
what taco bell you going too? that will buy me like 1 soft taco with just meat lol
Go to you local taco truck , way better and cheaper
@@orlandocastillo6862 No local taco trucks around here mate :(
@@bigtimetimmyjim6486 damn are you in the mid west ?
@@orlandocastillo6862taco trucks tacos used to be $1 here in California on Tuesday precovid. Now, it’s $3 everyday…
It's great how CNBC shows a graph that clearly indicates that price increases led to increased income at first, then same income with less customers, but they mention 5 times that wages increased as a blame for the prices instead of corporate greed. When these places got established it was because of affordability but now it is cheaper to go to a real restaurant or a fast casual place where the food is 10 times better.
It's the corporation's obligation to increase profits. They aren't human and don't care about humans
@@gladtech4740aAA
@@gladtech4740 And it's our obligation both as workers and consumers to fight for our own interests, which often run against the interests of corporations.
Corporate greed is a lazy excuse. Corporations know if they get greedy that customers will go to competitors. They can't just raise prices however they want.
@@funkspinna Most people have no idea that McDonald's the corporation has very little to do with your average restaurant and absolutely nothing to do with paying an average employee.
When you're on a loyalty program streak with a fast food company, you really gotta re-evaluate your life choices
I’m like a boomer even though I’m 33 I have an aversion to tech and refuse to do most apps because I think it’ll just be a pain. But I can take apart a lawn mower and put it back together.
The death of fast food is not something worth mourning.
“It’s labor’s fault”… CNBC, you continually represent the interests of the people with the fattest pockets.
No, it's the damn government's fault. I am absolutely blown away that I am reading comment. After comment after comment and absolutely nobody is talking about inflation. That's literally government caused. Massive increases in the money supply always always always always always create a bunch of inflation. That's how monetary systems work. The one of the government gets away with it.
CIA channel....
MacDonalds profits were up 10% last year. Their CEOs pay went up 8%. Yeah, but it’s the minimum wage workers who are at fault 🤡
How so? This is a clip from CNBC.
$20 minimum wage. That is all.
I’m so sick of these companies blaming wage increases when their CEO bonuses are in the hundreds of thousands and they’re writing off jet trips.
CEO's would quit over such a small paltry bonus.
CEO bonuses are in the tens of Millions.
I mean, when wages go up, the product price does too. As a business you need to pay for the building for the supplies and for the food and for the employees. When any of those things go up then you need to increase the price of your product in order to keep going and make a profit.
I'm not saying that corporate greed isn't there, but when California wants to increase minimum wage to 20 bucks an hour there's a reason why fast food places are extremely expensive in California
CEOs also have more skills to offer and probably had a college education. They invested more money into a CAREER choice. Flipping a damn burger doesn't require much skills.
@@Karii0728 Sorry, but that's bull these days. A monkey could be a CEO, so long as it was a cruel monkey.
If anything, writing off expenses would make prices go down because taxpayers would be indirectly subsidizing costs. If you eliminated CEO compensation tomorrow, unit costs would not change. The CEO compensation is a tiny fraction of total costs.
Last time my wife and I got Jack in the Box, it was over $30, just for two burgers, two fries, and two drinks. We vowed never again. My wife picked us up just two large sodas from Wendy's a few weeks back, and it was over eight dollars. We're done. We can't afford to support these businesses. They need to just go belly up if they can't figure out how to make this work.
This kinda makes me nervous because Jack bought Del Taco a while back and DT is probably the only fast food chain left in the country that hasn't fallen in line with the rest of this nonsense..
My son and I went to McDonalds last years and it was $28 for two of us, and we didn’t get much food. Never again. I can go to a real restaurant for those prices.
We did it Joe
They can make it work , they just greedy
Damn I didn’t believe the 5 guys stat, so I went online and checked. A bacon cheese burger, regular fry and large drink plus tax is $24. For one fing person!!! A grilled cheese is over $6 bucks!!? If you’ve got older kids, you’re gonna spend $100 for 5fing-guys?!? That’s pathetic
It’s nuts…imo their food sucks
Buffets are under 20.
MSNBC must think we are stupid or something
You are lol
Well duh!! You watch msnbc ya weirdo 🥴 therefore, they are correct in thier assumptions.
It’s how you are controlled
If you voted for Biden then yes lol
@slayer If you're watching MSNBC then yes you are stupid
They're hoping & if you eat fast "food" then you are.
This article was somewhat disingenuous. We see the same increases in food pricing at the grocery store and that has nothing to do with wage increases at a fast-food restaurant.
CNBC covering for corporations raising prices and blaming workers? No way! 😂
Roughly 2 years ago a McCain cake was like 4.99CAD and now its 7.99CAD... I could go on about other items too... But even so, it is still way cheaper to buy your food and drinks from a grocery store than fast food. For those that argue otherwise, what universe are you living in? Just curious :)
While I agree. This was going to be inevitable that prices would rise with wage increases. These companies were very vocal about it before it was introduced.
@@OG-Jakey Wage increases account for 2% increase to the bottom line, while average meals have increased by 28%.
Again, from my original comment. Food prices are high at the grocery store and that has nothing to do with fast food wages.
@@OG-JakeyThey're making record profits. This wouldn't be the case if it was purely to offset the cost of wage increases. It means that they are increasing the prices much faster and higher than inflation, wage increases, rising cost of materials, everything. That's the way you make higher profits, and all major companies are making the biggest profits in history. This is purely from corporate greed.
Haven't been to a restaurant or fast food establishment since 2019.Saved a ton of money and lost weight .Went from 180 lbs to 130 lbs .Feel so much better .Blood work good ,blood pressure good .
They make the burgers so paper-thin these days how can they even legally call it a hamburger.
Its a sandwich at best now.
Thin sliced ham. Literally
they are helping you to lose weight.
Shrinkflation = smaller quantity with lower quality stuffings and raised prices.
"smashed" burgers.
Portions are getting pretty small these days while the price goes up. Thanks for that