I recently have been to a few steak restaurants. Interestingly enough you may know that I have not eaten beef in over a month. Still, these visits have raised a new observation. Many of the restaurants are now owned under group names and chains that are beholden to their investors in many cases equity firms. This means they need to show returns.
To show returns I see that prices have been raised across the board. Portion sizes are also ridiculously large, in my estimation to entice the greedy ego to spend more than necessary. This becomes a profitable business but it may be a good business at the moment but I really do not believe we will see continued growth in that sector. The reason is because I see that on the flip-side the major corporations who are beholden to their investors whether public or private are squeezing their employees pay to improve their returns in price earnings.
This means that the investment community is squeezing from both ends of the spectrum. This is why as many in our society have observed the rich become richer and the middle working class is slowly disappearing and becoming part of the struggling working class. When the people don’t earn enough to go to fancy steak restaurants of this ilk, they will disappear. You have to live and let live, earn but still pay just wages. But it is becoming more apparent that some in our society believe in live and let die.