|Surf 'n' Turf|
In a bad economy fast food, or good food fast, is typically one of the few beneficiaries as diners move from various forms of sit-down restaurants to more inexpensive alternatives.
So while even McDonald's Corp. stock (MCD) was hit last week along with everything else, the chart below shows the trajectory that it has been on since the financial crisis began in 2008.
This is very different than the performance of the overall market as evidenced by the S and P 500 chart which shows an immediate and violent sell-off into April 2009 before making a comeback based on a view that the U.S. and global economy was recovering.
Evidence from the "horses mouth" that even fast food may be out-of-reach now!
The employment and GDP reports last week came as a shocker to many people who for some reason were under the impression that the US economy was moving along in decent shape.
Those "many people" can be defined as economists and politicians, the first group that is never right and the other that is so out of touch with the real economy that they have an excuse.
President Obama falls into the out of touch group as he seemed to be under the impression (or was hoping and praying out loud) that the US economy was continuing along on the path of what has been termed by him, by market prognosticators and by other Democrats as growth.
I suppose that nobody stopped along the way to Friday's numbers to ask those "regular working folks" who are suffering day by day in the trenches.
The fact of the matter is that the failed Obama administration policies, the Eurozone financial crisis and the Federal Reserve "solution" to the economic problem we face of printing more and more money have all contributed to putting us where we are now.
A global economic cliff!
"McD warns on declining consumer confidence"
"The largest restaurant chain said consumer confidence may be a challenge in U.S. and abroad
McDonald’s Corp. executives Don Thompson and Tim Fenton acknowledged that waning consumer confidence would challenge the burger brand around the world during a meeting with securities analysts in New York this week.
“The headwinds we face on both the top and bottom lines, such as austerity measures in Europe, higher commodity costs in the U.S., and slowing growth in Asia, do remain…” (Source)
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