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Real Economy Still Sliding As 'Eating Out' Continues to Go Down
While real consumer spending growth remains perilously close to recessionary levels for another year, one of our favorite indicators of real consumer sentiment (as opposed to the anchoring bias-driven surveys we are force-fed a few times per month) is the growth in spending on eating meals out. As Bloomberg Briefs notes, spending on dining out has fallen from 4.5% growth at the beginning of the year to under 1.8% growth currently (the lowest since May 2010). Add to this the slowdown in jewelry spending and the drag on discretionary spending likely from Sandy and we suspect the modicum of estimate revisions that have started to be published by sell-side analysts will need a little more adjustment.
Real Consumer Spending remains stagnant...
while easting out is plunging...
Charts: Bloomberg Briefs
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HEADline FTW!
Eating out? Eating (in) will soon plunge.
Fuck it I will have to start eating pussy again.
$100 for gas to drive around the block. $20 for something that tastes like a hamburger. $500 to get your vehicle back after some A-hole towed it away from that teeny tiny sign that you didn't see that says "no parking", $10000 to get the law of your back after you break the tow truck drivers jaw.
I think instead I can afford to stay home and eat warm rice in my 32 degree F. trailer downton here in good-ol-boy, USA.
"Eating Out"...where's my GF's Brazilian when I need it...fuck!
I didn't see any indicator that the percentages were adjusted for food inflation, sooo would that mean a negative growth?
What is Vince Offer writing the headlines now???
I got married 18 years ago and stopped eating out about 8 or 9 years ago. But we still visit restaurants frequently.......
You married guys need to remember one thing when dining out in stange lands. It's okay to look at the menu but you better go home to eat.
Back in the '90s, I was at a McDonald's with a few friends. (I'm not proud, but we were drunk and it was there, yanno...)
One member of the party had a "cheeseburger" which for some reason was MISSING THE MEAT PATTY.
This itself wasn't a big deal, mistakes happen, but the astonishing part was, we LITERALLY could not taste the difference from all the other ones we had ordered.
Start enjoying eating the asshole...sometimes if you're lucky, you also get corn off the cob.
You gay? Not that that's a bad thing, just asking. You look gay.
9698 - Please keep your social networking activity to appropriate web sites.
you must be new here. 9698 wouldn't know appropriate if it gang-skull-raped him.
lmfao
Girls eat corn too. Your one-track-mind obviously has nonstop train service to destination bear cave. When you decide to come out of the closet, we'll support you.
Reminds me...how is one of those square batteries like your girlfriend asshole?
You know its wrong but, sooner or later, you will put your tongue on it ;o)
*snort*LOL!
similar thrill, I'm sure...
Is this the companion story to the nurse capitalist anarchy thing?
Off topic a'lil...
You know, boyZ and girlZ, this whole “wind damage thingy” is beyond ridiculous. We, as the “leader” of the world keep suffering multi-billion-dollar-damages every time the wind exceeds 10 mph. How difficult or expensive is it to put all hanging-in-the-wind power cables into the ground? I ain’t talking ‘bout super-duper-developed countries, but even the darling of’em all Zimbabwe has 98.4% of all of its 6 miles of high voltage cables IN THE GROUND.
ZH, you’ve brought up quite a few important issues, dontcha think THIS ONE deserves more attention?
BTW, before the nasty-looking male nurse starts force-feeding me with my medication (which I’ve proudly missed for 3 straight days), I’ve sent similar e-mails to both Pr-Candidates, their running mates, and 63 senators/congressmen (whoever e-mails I could find), including the Honorable Ron Paul. Guess what? I ain’t gotten a single response from any of’em.
So, whatever happens to us next time the wind blows a ‘lil, or this or that guy gets elected – we, as a country, deserve it.
Looney
P.S. I just saw the male nurse loading an enema with my meds… Oh my Goat!!! Not again!!! ;-)
I believe that alot of the problem in New York... was that the damn power was underground... hence it flooded and exploded power stations and generators... etc.... etc.. Think Subways
Aesthetically pleasing, "smart grid technology" is not functional under actual duress?
Who knew? ;-)
Surely keeping the power on is harder than keeping the checks in the mail.
Your homework assignment is to look up the relative permittivity of air, dry soil, wet soil, and dirty (as opposed to distilled) water. Then you can come back and explain why it makes more sense to hang the wires up in the air.
You would have a point if we were talking about the laying of bare copper cables. I am no engineer or electrician, but I have noticed that most of the aerial power lines in my area (or when exposed before being buried in the ground) have some kind of stuff covering up all the copper. I think it is called "insulation".
Because it's nasty expensive to do it right, compared to hanging it up on dead trees, where it topples in the slightest breeze. At least that's what the electric co. representatives tell us at meetings with the County when they are asked to do just that. Man, they howl!
Underground, it is in properly insulated cables, inside ductwork, and sometimes the ductwork is encased in concrete. Yes, it would definitely help keep the power on in windstorms, but at the cost of Armageddon in electric rates (if the power company is to be believed).
You didn't eat that. Someone else ate that for you.
je suis desole monsieur... If I ate at your restaurant for the price of a Morgan Dollar I could only afford to tip you a Wheat Penny.
They will soon hypothecate our calories...+1.
Portion sizes in the US could use some rehypothecation, because they currently seem accrue entirely to the American waistline (in the noble sounding goal of delivering "value" to customers).
I continue to go down to eat out!
A good method for determining sentiment, but remember the cost of food is going up while real wages are going down... Is "eating in" such a big money saver if a pound of hamburger is twice an hourly wage?
Chicken!
Pussy!
What about chicken pussy? Is it enticing? I mean what's the story?
That's so clucked up.
Chickens don't have "pussies"
They have a cloaca which serves the purpose of both pussy and asshole.
Duh - them city types dunt no nuthin, huuuurrrr...
Well, that's it --- I am finally swearing off chicken cunnilingus for good!
The romance is ruined!
Well, OK, but the double bummer is you obviously don't no nuthin about obscure psychedelic rock bands from the Bush I years...maybe you had too much sleep back then and it's done something to your central nervous system.
That's what she said.
I just upped you for the Devo hat... I figure when silver hits $500/oz I can afford to become an aging eccentric, wear one myself and still get chicks.
I was Mark Mothersbaugh for Halloween. It was a hit...chicks love it.
It's actually an energy dome, though, not a "hat" or "flower pot" as many believe. Devo stands for "de-evolution" (of the human race).
Go long Ramen Noodles. Bitchez!
Flavor them up with a bit of "Whats This Here Sauce" for a new twist. ;-)
"while easting out is plunging"
Freudian slip or double entendre?
Two adults, four kids, two hundred bucks. For wings, fajitas, & burgers, cokes and two glasses of wine, plus tip.
Print some more Ben. Less eating out but the exchange rate on barbarous relics lying on lake, river and ocean beds continues to rise.
The Hidden Tax.
Eateries will drop like dominoes for '13.
edit: Went out w an attractive friend last week to a nice place...thank God she suggested Happy Hour.
You may have found more than just a nice place to dine my friend ;-)
now thats a steal in this economy
Sensible partners are a wonderful thing.
Yes they are...always a work in progress though.
Got about three hours sleep last nght as mine was in agony. Just came back from the hospital around five. She's fine. Say's she's sorry for me though...lol...I always tell her its just part of the deal babe ;-)
Sorry to hear it, my thoughts will be with you. Who ever marked his post down, WTF is wrong with you, that is messed up?
an avid pole dancer ;)
I hear its great exercise...lol...better stay on the bottom though or you'll break a rib ;-)
But, but, how can that be? Visa and Mastercard just posted healthy profits. Oh, guess people are paying for rent, gas, food at home on the cards. Sorry restauranteers.
Hey, I've been meaning to mention: I like that necklace of yours.
Can we securitize the average calories per day? or per meal? per age? sex? location?
That would be a market I wouldn't mind to BTFD!
I don't eat out very often, preferring to cook at home. Well I took my two youngest kids out to eat at a Chinese restaurant and I couldn't believe it when I got the bill, it was the same price I paid when I took my wife and the three kids last year. Never again, from now on it's venison stir fry... Or venison fried rice....
My favorite Chinese restaurant had dishes priced at $12 last year....this year: $17
My favorite Mexican restaurant only raised their prices by $1...but they cut the portion size in half.
At least Little Caesars still has the five dollar Hot-And-Ready pizzas. And so far they do not seem to have shrunk any. Wait for it though, sure it's coming. Either that or it'll $10.00 for the same pizza. And then their sales will start going down as well.
I did a fair bit of eating out over the past few days--certainly more than I ordinarily would...the GF was staying at my place what with the storm, and, well, you know, whatever she wants and all that...
Does your eating out track with consumeher spending?
Indeed it does. She insisted I shave, too.
Long beard rash.
MsCreant: Well played... consumeher spending...
I was very surprised by the fact there is 1.8% growth. Proof that the economy is not out yet. When you see those lucky enough to have jobs brown bagging it you'll... well hell you'll know. Seriously can we get out of this financial nightmare of debt?
'Enjoy it while it lasts.. cause it never does'....Lou Mannheim WS. More wisdom comes from ol Lou than a Yrs worth of Cnbs.
Going out for real food may be taking a hit. McDonolds and KFC et al can not be considered going out, they are more of a lifestyle or cullture choice. PS Fucking Olive Garden is NOT food...that is all.
Olive Garden is explosive bowels waiting to happen. The only people that consider that place edible are the ones that find Golden Coral a fine dining establishment.
I was forced to go to Golden Coral on a group trip. I saw a gorilla looking creature stick his head into the chocolate fountain like Augustus Gloop from Charlie and the Chocolate Factory. I could do nothing but laugh and attempt to eat a single piece of cornbread that looked edible.
Is "Golden Coral" the place where Nemo likes to eat buffet under the sea?
Olive Garden=Oil Garden
My dog understands more about economics and finance that these two potificating clowns put together
Dr Engali.. same here went out to lunch with the Kids and got a Micro Meal with an inflated bill.. BYE BYE restaurant industry!
It is interesting isn't it - when things went pear-shaped in 2008/09 the fast food firms such as burger places and pizza places, etc, flourished as apparently people were cutting back on fancy restaurants in favour of cheaper places.
Now it looks as if the economy has got so much worse that even these places are now suffering.
What next - fancy coffee places where coffee costs 10 bucks a time seeing falling sales?
When McDonalds, Burger King, and Taco Bell start taking SNAP cards nationwide, eating out numbers will explode.
Of course then the Walmart supercenters will all go out of business.
Theres 15,000 people on food stamps for each walmart supercenter in the US and that number isnt likely to decrease. Theyll be fine.
How about an hourly wage to property acreage aquisition chart (similiar to a wage/gold chart)
"...Eating Out (at restaurants) continues to go down".
And eating out of dumpsters continues to go up.
I eat out every-day almost, cheaper than eating in IMO.
You get one mega meal a nd just portion it out throught the day.
unless your those type of people that sit there and eat noithing but rice and oatmeal.
If people only feared food the way they fear math obesity wouldn't be such a problem. Today we have a real PLOS One medical journal study written on the "fear of math" and how it causes us pain. They measured in the MRI and just an equation can send you over the edge with pain.
My take on it of course is now I understand why we are all so Algo Duped and link to my 4 videos that explain why we need to look at math and formulas. Charlie Siefe from NYU is so good in the first few minutes of his video...well that formula has a square root in it,looks good, so it must be so. Quants have day run with us and like I have said we watch Damie Dimon sit there on video in front of Congress when asked about his business models and said "I don't know"...
This study might have a real impact with the fear of math:) It's quite long but again if this is really substantial it explains how the market and the Quants just run us over although I have said that for a few years now. 3 years ago I said we need a US Department of Algorithms but what do I know:)
http://ducknetweb.blogspot.com/2012/10/algo-duping-plos-one-journal.html
If we only had this pain with food obsesity would be solved:)
I'm fat. And I love math. Don't generalize lol. Furthermore......the level of math intelligence involved in the algos is way, way beyond anything the avg person will ever understand.
And really, who gives a fuck about obesity. If someone wants to eat, get fat and die that's their choice.
If it weren't for it costing the lovely insurance companies a bunch of money, and really the entire idea of insurance is fucking ludicrous anyhow, you'd never even know what the word obesity means.
The only other assclowns worried about fatfuck children is the millitary. Go fight your own global domination bs frontage wars.
This entire planet is so fucked up.
I don't understand that about the military, myself. How fit do you have to be to fly drones and man turrets, anyway? Can't we just hire illegals to do the running and jumping and stuff?
I'm fat and middle aged. We've had 20 year old kids work with us (construction) that don't last a day because it's hard work.
A couple years ago we had a skinny 20 year old working with us who was really into martial arts and bragged about how he could kick anyone's ass. He was actually a good kid. We finally had enough of his bullshit one day. I was standing in the back of the truck as we unloaded 66lb bags of cement. The kid was jabbering on again. I picked up the bag of cement and tossed it to him. He collapsed like a cheap tent in a rain storm when he tried to catch it. He never again mentioned how tough he was.
I admit the younger generation, or a lot of them, look pretty pathetic. Of course what incentive do they have to give a crap about that kind of work? Probably half their parents are unemployed from it lol.
what about our eye pleasure? imagine seeing a mini-skirt-wearing hippo woman with disgusting legs... yuck.
here a tip for the post sandy north east. if there is no service of electricity
or other means of refrigeration at an eating establishment do not eat there unless it is the normal
operational method which does not exist for food establishments in the north east. they are serving u spoiled or spoiling food items.
if the establishment has been
without "power" of refrigeration consider the item
you are about to consume with regards to time and temperature and the menu choice's history.
yes, there are food establishments that will sell
u spoiled food for your federal reserve notes,
everyday and at a moments notice; who would know?
no one. there is money involved here, but your body
will tell you what it is you payed for.
And along with not eating out comes the consequences.......less workers and less $ for them. Not only that they are all cutting hours to less than 30 to avoid obamacare.
It shows also. Granted I don't go to high ends because I can fuck up anyone with anything that I would have to pay a high price for and just assume cook myself. As far as run of the mill shit I have noticed service has gone to total fuck. No kidding, last weekend we walked into a place and the atmosphere was so repulsive I had to grab my wifes arm and turn back around in 15 seconds. She didn't catch onto it but having been around restaurants a lot I did. Bad attitudes=bad service=shit food=ruin your evening.
Some of the fucks like idiots that run Olive gardens etc really need to rethink there strategy of busting everyone down to 25hrs per week I could hardly contain all the laughter and cheer from their employees before they started this bullshit.
What comes around goes around.
Which reminds me of our visit to a lower end steakhouse last weekend. It wasn't my choice. Friends wanted to go, I went. Steakhouse? How about dog food house. My first med rare tbone was well done and a poor well done at that completely dry. So then they brought me a strip which I said maybe you'll have an easier time cooking cause there thicker. It turned out rare. I didn't bitch ill eat that. Dull grey, no sear. Very fucking sorry looking. Pretty sure it had been frozen before hand.
And that's why I won't go to so-called steakhouses. Even many of the more pricey ones couldn't cook a bowl of fucking oatmeal.
Restaurants keep raising prices because input costs keep increasing due to Bernanke's and the fed's printing.
Ordered take out yesterday. The fuckers actually have a tip line on the reciept. You gotta be shittin me.
I just draw a line thru the tip line and tell them I am taking out. Never had a problem. Some people just need to grow a pair. Seems like most males in America have become pussified pansies??
I just draw a line thru the tip line and tell them I am taking out. Never had a problem. Some people just need to grow a pair. Seems like most males in America have become pussified pansies??
Eating out continues to go down. Great play on words. How true
Yummy. LOL.
Going hunting for first time.Get use to it.
For some restaurants, boiling water is a culinary feat they have yet to master...
I traveled extensively for 25 years, and always ate out. But I would eat at great places. For the last 14 years, I just like to cook. For some reason, it relaxes me. But mostly, I can eat what I like. I'm not a great cook, but I keep trying to learn. Last week, I was on vacation, and my goal was to make a new Julia Child recipe everyday. Kind of like the movie Julie and Julia. I did, it wasn't hard to do, and I ate well. I used the book, "the way to cook". Tonight, though, is my own cooking recipe with Steak Diane and sautéed zucchini. I just never eat out for dinner. I can't afford to now.
My favorite dish when I eat out is Vertical Salmon. Or Horizontal Sushi for those in Asia.
MCD is coming back with the $1.00 menu. Not sure, maybe you only get half of a double cheesburger compared to 6 months ago. The ad didn't specify. Surely half a double cheesburger nicely cut in half and wrapped without adding pressure that would squish the bun would appear bigger and more satisfying than shrinking the already massive 2.5 inch diameter something similar to meat patty.
Still order the 32oz cola though im sure the gag reflexes will still kick in when it catches half way down your throat and just won't go down. Not sure what kind of cheese that is but it's a killer.
There is still growth. I don't think anyone under the age of 30 knows how to cook -- most eat out every night of the week (probably paid for on credit cards) -- restaurants in the Boston area & suburbs (Cambridge, Somerville, Waltham) are packed any night of the week. Most of my 20 something neighbors are always getting food delivered -- however, pizza from these chains is probably the worst crap you can eat.
McDonalds? seriously, that is such low class crap. I don't think I have stepped foot in a mcdonalds for anything but maybe a Latte and to use the free WiFi.
If one is to believe John Williams from shadowstats.com, if inflation was measured the same way it was in 1980, then it would be 9% instead of 2% making real GDP would be a cool negative 7% instead of 2%.
That would explain a lot, including why there is reluctance for further printing and why it seems as if the paycheck does not go as far as it used to go.
"including why there is reluctance for further printing"
Who is reluctant to print more?
Eating out ,eating in, WTF, you're eating ain't you. Quit bitchen. It's
still better than not eating.
The main market index, the SPX, continues to slowly setup the larger move lower as it remains bearish. http://bit.ly/Y46eOg
Insert Cunnilingus joke here.
In my town, "eating out" means going to King's Pizza. "Eating in" means ordering home delivery from Dominoes. There is a serious problem here, I just don't know what it is ....
Dining at the Y?
Eating out? I probably eat out a few times per year and that's it... Too costly.
People don't eat out as much.......now drinking out? That's a different story.