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The Economy: Okay, NOW It’s Serious.

October 29, 2008

It was bound to happen, though I didn’t want to believe it ever could.

McDonald’s is jacking up the price of the Double Cheeseburger to $1.19 — AND they’re taking away a slice of cheese while they’re at it.

“It’s really hurt the profitability of the items on the dollar menu, even though it’s driving traffic to the restaurants,” said Morningstar Inc. stock analyst John Owens. Analysts have been expecting a price hike for the double cheeseburger, the company’s best-selling U.S. sandwich.

Damn you, Greenspan.

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