Due to an odd medical ailment a few years ago, I developed a craving for iron-rich cheeseburgers and ate them constantly. I've long been cured, but in the process became something of a connoisseur of the offerings at virtually every fast-food joint. I've also watched prices for such fare soar to eye-popping levels.
Recently, my wife and I stopped for a couple of ordinary burger/fry/drink meals at a national fast-food chain and were set back nearly $30, which is a third more than I recall paying before. I don't blame the owners given rising wages, new labor laws, and food-price inflation, but as a consumer I'll be cooking my own burgers from now on.
Government policies drive up the costs of things and those rising costs put a damper on business, which is obvious to everyone who is not a member of the legislature. The state already has hammered full-service restaurants. During a recent visit to Sacramento, I noticed most of my favorite spots were shuttered—the result of COVID shutdowns, downtown riots, and whatnot.
Now the state and feds are going after the fast-food industry—and it couldn't come at a worse time. "Fast food franchisees are facing post-COVID headwinds that could spur more of them to file bankruptcy in the coming months," reported Bloomberg Law. The article pointed to the usual struggles—plus rising interest rates and tightening lending standards.
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