Slate Money - McDonald's Fast Food Price War
Slate News
Slate Podcasts
4.5 • 6K Ratings
🗓️ 22 June 2024
⏱️ 47 minutes
🧾️ Download transcript
Summary
Fast food prices are sky high, but chains will take losses to get you in the door. Felix Salmon, Emily Peck, and Elizabeth Spiers discuss the economics of a new value meal trend. Also: millennials are taking secret “quiet vacations” and dicey geopolitics are affecting bond markets. In the Plus segment: Yankee Stadium is now card-payment only. Do Americans have the right to use cold hard cash?
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Podcast production by Jared Downing and Cheyna Roth.
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Transcript
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| 0:00.0 | Hello! |
| 0:11.2 | Welcome to Slate Money, your guide to the business and finance news of the week. |
| 0:17.9 | I'm Felix Simon of Axios with Elizabeth Spires of New York Times. |
| 0:21.2 | Hello. |
| 0:21.9 | With Emily Peck of Axios. |
| 0:23.7 | Hi, Felix. |
| 0:24.9 | We are going to talk about McDonald's. They have a $5 meal. Burger King has matched. |
| 0:31.6 | What does this all mean? We are going to talk about this concept that the Harris poll has come up with called Quiet Vacationing and whether it's the thing and whether we should be worried about it. |
| 0:42.2 | We are going to talk about the Bond vigilantes and whether they're back in places like France and the UK. |
| 0:49.6 | We have a Slate Plus segment on Yankee Stadium and whether or not it truly is accepting cash for payments. |
| 0:57.0 | It's all coming up on Slate Money. |
| 1:06.8 | So, Emily, as the suburbanite among us, you are more attuned to chain restaurant prices than Elizabeth and I. |
| 1:17.1 | I can tell you that non-chain restaurant prices seem very high, but the vibe seems to be that eating out is expensive and even cheap eating out is expensive and it doesn't |
| 1:28.4 | get much cheaper than McDonald's and Burger King and now they're in a price war and they've announced |
| 1:35.5 | these five dollar meals where they're going to lose money on every meal and make it up in volume |
| 1:40.9 | something like that exactly yeah there is a price war in fast food. |
| 1:45.7 | Woo! |
| 1:46.5 | Good for people. |
| 1:47.5 | Probably not good for these businesses, but... |
| 1:49.6 | Bad for cows. |
| 1:51.3 | Oh, pour one out for the cows. |
| 1:53.4 | But McDonald's starting this coming Thursday, I believe, is going to be doing a $5 meal. |
... |
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