McDonald’s Corporation says its the new normal.
McDonald’s Corp. showed enviable resilience during the recent recession, but its chief executive said the rough sledding has gone on longer than expected.
“When the economic crisis began in 2008, no one thought the environment would be as uncertain and fragile as it is today,” said Chief Executive Don Thompson, calling current conditions the “new normal.”
When people are forgoing dollar menu items, you know the economy is in rough shape. Of course, as soon as cash is freed up and spending starts again, inflation and high interest rates will be the norm.
There is a price to pay for using government to undermine the market.