What I want to know is how is everybody affording these (illegal) fireworks? From what I can gather, a stash of them can easily go into the many hundreds of dollars. Those who have lit 4th of July fireworks since the start of the week is almost literally lighting a ton of money on fire. In this economy?
Or, put it another way: is there anything more American than going into (long-term) debt for some momentary fun?
Frequent readers of this blog (shout-out to the dozens of you) knows that I am hugely price-elastic. The high inflation of recent years has completely taken me out of the dining-out market. Even though I can afford it, I simply cannot in good conscience pay $12 for a meal at McDonald’s. We indeed have food at home, kids.
It seems there are a lot more than a dozen of us price-elastic consumers. I’ve started to see McDonald’s advertising a $5 meal deal: your choice of two sandwiches, four nuggets, a drink, and fries. The only explanation for this new strategy is there’s enough customers balking at the high menu prices. Me the customer do not care about your labor and material costs. If your price is above a certain emotional and rational threshold, we will simply go elsewhere.
Restaurants should at least do two out of these three: cheap, fast, and quality. McDonald’s is not quality (we can all agree), so it must deliver cheap and fast. With the recent outrageous menu prices, the company has failed at being cheap. No wonder people are choosing other options.
It’s too bad that just as this $5 meal thing arrives, my local McDonald’s has shut its doors. Sad!