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This is another bullshit report from the most mismanaged bank in the USA. This might have some truth in NYC - but for a fraction of dining out I can prepared steaks, seafoods, pasta at a fraction of the cost of dining out. I can also buy better quality basics and don't require a 15% tip!
Most people today are to lazy cook and take time for the family. I'm teaching two sons that they can have healthier and better food while dining at home. (and yes - I can afford to eat out anytime)
This is just a poor report unless you weight 400 pounds and eat every meal at McDonalds!
So very true....and the definition of eating at home includes processed pre-packaged food, which carries a substantial premium over the raw ingredients.
Also, for those of you that drink adult beverages - why is it that the homeless folks don't buy their drinks at the local taverns? They must be paying too much at the wine/grocery store. I need to walk around the city and show them this report -
"sit your ass down and have a drink - Bank of Americas says it is the cheapest way to go"!
Modern restaurants are dedicated to the serving of food, where specific dishes are ordered by guests and are prepared to their request. The modern restaurant originated in eighteenth century France, although precursors can be traced back to Roman times. Thanks.
and how do food stamps (or whatever the politically correct term is) figure into all this?
The good news is that Americans will be forced into a diet plan soon.......
Fed pays farmers not to plant and gives out SNAP cards (both driving up food prices), and we pay taxes to support this.
how do food stamps (or whatever the politically correct term is) figure into all this?
perfect question to ask because you can use SNAP cards at many fast food establishments (which likely defines the skew)...
Yep I don't know what universe these guys live in, but around here it's much cheaper to eat well at home... if you're eating at Mickey Dee's everyday, that's a different story. The only decent cheap meal around here is at the Taco joints. I won't eat American fast food.
Agreed 100%. This is an apples to big, fat, greasy, cheap-ass burger comparison.
Is the BOA guy driving to fucking Tokyo to shop.
i agree if we're talking New York City. McDonalds, Wendy's and Burger King though? 4 bucks for coffee and a bagel at Dunkin' Donuts while on the go to work. "time is money" as they say. plus if you take the kitchen out of your house that saves money. take the wife out of the house too and that saves even more! i know this much: the problem of obesity in the USA is no accident. we eat out and do not cook in. our idea of socializing is now showing up at the fast food joint and hangin' out as well. normally i'd say "this is far better than socializing in the kitchen" since you're gonna meet your job opportunities at Dunkin' Donuts and not in your kitchen. on the other hand the kitchen's one of my favorite girl friend hang outs so....
Cramer wants everyone to sell stocks, you know what that means.
Did you know that Walmart sells single slug 12 gauge and hollow point 9mm at discount prices? i found that out tonight and topped off my basket. Thanks Sam!
You can't eat 12g slugs. Unless you're sure...
But you can definitely kill some big deer with those slugs. The meat from a deer, even a small one, will feed you for quite a while.
Me, I'm preparing for more than deer... walkers.
Then the perfect weapon for you, my friend, would be the AA-12 automatic shotgun loaded with 25 rounds of FRAG-12 shotgun grenades. Not much good for hunting, though ... destroys the good meat.
This guy is a friggin' hoot, AA12's indeed:
Slugs to 'kill deer'? Hope you plan on spending A LOT of time combing through your damaged meat looking for bone frags......bad idea.
Depends on what you're eating. It's hard to compete with fast food anymore. There's really no reason to make your own burger unless it's top quality beef or something exotic.
Why would anyone pay money to eat a burger that is NOT top quality beef?
I remember a few years back I read an article about a recall of McDonalds beef. In the statement released by the company, they stated that the reason for the recall was that the beef intended for the burgers contained "an UNACCEPTABLE amount of Animal Feces". The one glaring conclusion I was left with was that they had an "acceptable" amount of animal feces in the burgers they sell.
I have never eaten at a McD's or BK or any such thing again. True story.
Just buy one and look at it. Is it even real beef? Someone set a burger out for like 6 months and it didn't even rot. The stuff isn't even good enough for poop eating bacteria or molds yet Joe Fatso loves it.
Have you looked at the reduced size of food prepared when eating out? Much less food and increasingly poor quality. Tonight I bought 9 large pork chops 2" thick for $18.00. One at a good steak house will cost that much and is 1" thick.
Over the past 5 year my shopping choices have increased 10X and food bills are up over the last 2 years, but not like eating out. This is simple math.
A Big Mac meal around me is 7$. That plus fries and a cook are a lot more expensive than buying your own
hamburger, fries and coke. I can get a pound of hamburger for 6$. No meal worms and newspaper clippings involved. :)
I don't know what the hell they are pricing. As nasty as foodstuffs have gotten in the last five years, I can still feed my family of 4 a whole chicken, rice (or muffins), and a couple of vegetables for about $8.00 and still have plenty of left overs. In what restaurant can I do that?
If anything, the rise in the spending at restaurants is more fools running in to the dollar menus for lunch...of which it is still cheaper to eat leftovers from home if you know how to plan. I can eat a sandwhich and a couple of pieces of fruit for under $2.00.
Agreed. Someone let Tyler's intern loose again.
Chart 1 doesn't show prices, only changes in pricing.
Cost per calorie breakdown would be more useful (but likely not for the writer's conclusion).
Not true - fat = many calories. Fast (cheap) food wins every time!
Define 'restaurant'. Is McDs a restaurant?
When I cook at home I can control many things that I can't control at a restaurant. So yeah, it may be cheaper today to eat at a restaurant, but when I add up my healthcare costs in the future, lost time due to illness etc, it may be better in the long run to eat at home.
Hmmm...At a Waffle house recently, I ordered 2 eggs, 3 slices bacon and one waffle - water to drink - and the bill came to $8.72. With tip $10.00.
For the $10.00, I can buy 1 doz eggs, 1 loaf of bread and a pound of bacon - breakfast for a week.
I must therefore respectfully disagree with the above article's conclusion. Nice charts though.
Beefy 5-Layer Burrito (550 calories) = $0.89
That's not beef, it's wood pulp.
It's calories. Cost per calorie is what I'm comparing here, certainly not health benefits or taste. Go look up how much 550 calories of soup or celery or rice or broccoli costs at the grocery store. It's ALOT more than $0.89. 550 calories of pretty much anything at the grocery store is many multiples of $0.89.
I have to say, though, I don't even look at price anymore. I just get what I need and don't worry about it, so that I don't go eat the crap they serve at the drive through. I alot $100/week on groceries for myself and usually beat that budget (usually spend about $60 - $65), even though I'm buying for nutrition and not even looking at the price.
That's entirely the problem, isn't it. We equate calories with food, but that shit in McDonalds has only the appearance of food. All of a sudden, the corporations start to switch inputs to find cheaper and cheaper substitutes, but as long as we maintain calories, whats the bfd. Soon we'll be adding plastic like the Chinese to our food supply to lower costs.
I get your point if you're comparing calories to calories, but then we've lost sight of what food is at all. Watch super size me and see what that food will do. Here's a hint to anyone that hasn't seen it: the food will kill you. Real, organic food is health, it is medicine, it is from the creator. This man made shit is poison.
Then they place you in the medical institutions and siphon of whatever energy and money you have to fix the problem that started with the .89 cent "burrito"
Well, if all you're worried about is getting as many calories as possible, at any price, here's the strategy for you:
Let me know if I can contribute in any way.
Yummie! Could you please bring me anonther slice of Soilant Green with that?
Are you also pricing in your labor costs to transport, prepare, serve, and clean up after your meals?
Labor cost doesn't matter if I or my wife is cooking.
Transport to restaurant vs to grocery store the same. But I go to the grocery store once per every 5-10 meals. Time to prepare, serve and clean? By the time you get there, park, get seated, get waited on, get your drink and salad, I'm halfway through preparing say - a meatloaf, fresh-out-of-the-garden turnip greens and salad and will have leftovers for two more meals. I clean while I cook so when the food is done, the kitchen's clean. No extra time necessary to allocate for cleaning or serving. Just 2 of us.
By the time you leave the restaurant the meat loaf is cooked and tomorrow is just a reheat.
"fresh-out-of-the-garden turnip greens and salad"?
Do you mean you grow your own food? But, but, that is interfering with interstate commerce. Better watch out.
That reminds me, time to breed the rabbits again...
Wendy's Double Stack (470 calories) = $0.99
McDouble (390 calories) = $1.00
McRib is $1.99
Before anyone gets too excited about the McRib meal, better take a look at this: http://www.deathandtaxesmag.com/156534/the-mcrib-contains-an-ingredient-most-commonly-found-in-yoga-mats/
Charts from Bureau of Economic Analysis, BofA Merrill Lynch Global Research. Are we sure these folks can even spell food?
Sorry but these assumptions that it is cheaper to eat out then to shop and cook is, in a word, bullshit.
Perhaps it may be true that it's cheaper to go to McDonalds and eat there than it is to buy a steak and make it at home...but that's not the same food is it?
I cook. Everyday. By choice because I enjoy doing it and eating it and I'm good at it. But I also eat out on occasion. Not at fast food joints or chain restaurants...I prefer to eat at decent places if I'm going to eat out. No fuckin way in hell is the price even remotely compatible for the same meal cooked at home vs. at a restaurant.
I'm calling bullshit on these "statistics".
I think the point of the article was not that it has become cheaper in an absolute sense to eat out vs. prepare meals at home, but that the price difference between the options is narrowing. It will ALWAYS be cheaper to eat at home vs. eating the same or equivalent meal in a restaurant.
But personally, I deplore the current trend toward eating out (particularly in bland, homogenized national chain restaurants) vs. cooking at home. I myself only eat out rarely, NEVER eat any sort of so-called fast food (last time in a Wendy's was in 1987, in a McDonalds was in 1984), and prepare as many of my meals as possible from scratch. Nobody taught me to do so, either --- if you can drive a car or operate a computer, you can certainly learn how to cook to a sufficient degree to free yourself from the expense and negative health ramifications of eating the poisonous swill that passes for "fast food" in the USA today.
"Bank of America's Economics team have found some extremely timely'inflation' signs in the food industry, where it is becoming, somewhat incredibly in this age of supposed frugality and deleveraging, cheaper to eat-out than to cook-at-home."
I junked you because you need to learn to read. NOBODY is suggesting it's cheaper to eat out. It's not.
What's happening is that restaurants are better able to absorb food inflation costs than the grocery stores who didn't have very large margins to begin with.
Thus, it's cheaper ON A RELATIVE BASIS to go out than it is to eat at home. Whereas $X may have bought 10 meals home for every meal out, it now only buys 8. It is therefore rational that the percentage of meals eaten out increases.
Put another way, the restaurant premium -- labor and overhead as a % of food cost -- has dropped significantly because restaurant meals are more elastic than groceries.
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