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re: Trump DOJ goes after Amazon--Mnunchin says Amazon has "destroyed the retail industry"

Posted on 7/25/19 at 12:17 pm to
Posted by TigerCoon
Member since Nov 2005
22465 posts
Posted on 7/25/19 at 12:17 pm to
Days like today make it apparent that I am overexposed to FANG crap in my 401K.
Posted by MrLarson
Member since Oct 2014
34984 posts
Posted on 7/25/19 at 12:32 pm to
quote:

Mnuchin is just wrong when he says Amazon has hurt retail.


Amazon is the next evolution in business. It's just the way it is and will be going forward. That is why Walmart is starting home deliver and other companies will follow.

I think I saw yesterday that GNC is closing 900 stores and all of them are in malls. Things evolve and there isn't much you can do about it.

The same as cab companies fighting Uber and in 50 years Uber will shite a brick when we have driverless cars.
Posted by NC_Tigah
Make Orwell Fiction Again
Member since Sep 2003
135493 posts
Posted on 7/25/19 at 2:00 pm to
quote:

Amazon is the next evolution in business. It's just the way it is and will be going forward.
Yes and no.

Amazon has been advantaged by government tax policy. (A) It avoided state sales tax for years, and (B) It avoids paying any corporate tax. Obviously our tax law needs a tweak.
Posted by I B Freeman
Member since Oct 2009
27843 posts
Posted on 7/25/19 at 2:32 pm to
Big wallets beat good looks every time after the women get past a certain age.
Posted by wutangfinancial
Treasure Valley
Member since Sep 2015
11847 posts
Posted on 7/25/19 at 2:32 pm to
quote:

I don’t like businesses that intentionally avoid turning a profit in order to hurt their competition way down the line. It’s particularly bothersome when they’re using profit in one industry to fund losses in another to have an unfair advantage. It’s very anticompetitive.



Soooooo, you don't like pretty much every tech company? You realize that's a self-fixing issue if we didn't have such losers running the Fed, right? Our executive branch should do nothing about their dumbassery.
Posted by I B Freeman
Member since Oct 2009
27843 posts
Posted on 7/25/19 at 2:34 pm to
There is nothing right about the power of government to go after private business for political purposes.
Posted by Eli Goldfinger
Member since Sep 2016
32785 posts
Posted on 7/25/19 at 2:48 pm to
USPS delivers Amazon (only) on Sunday.
Posted by I B Freeman
Member since Oct 2009
27843 posts
Posted on 7/25/19 at 2:56 pm to
I heard an interview with the UPS chairman after their earnings announcement yesterday and he says they are going to start Sunday deliveries too. They had a good quarter.

Competition is a wonderful thing.
This post was edited on 7/25/19 at 8:45 pm
Posted by Tchefuncte Tiger
Bat'n Rudge
Member since Oct 2004
62597 posts
Posted on 7/25/19 at 2:56 pm to
quote:

& his wife’s a smokeshow, so there’s that.


Posted by cave canem
pullarius dominus
Member since Oct 2012
12186 posts
Posted on 7/25/19 at 8:43 pm to
quote:

Amazon is the next evolution in business. It's just the way it is and will be going forward. That is why Walmart is starting home deliver and other companies will follow.


This is true and the way the world works

The issue is in rural areas between Amazon and the proliferation of a DG on every corner so many local businesses are shutting down which are the only source for needed commodities such as gasoline.

I have passed through uncountable small communities where once the DG opened the local gas station/ convenience store closed down forcing people to drive 30+ miles for many items that either DG does not stock or you cant wait 3 days on Amazon for.

Saving $5 on the pliers you want from Amazon feels great but the local hardware store can no longer stock screws to sell at $0.07 each, everything is a trade off somewhere.

This is not even getting into the loss of local tax revenue which pays for the infrastructure that Amazon, DG, WalMart etc require to operate.

I dont want FedGov wading into this but it definitely is not a good thing for the local communities or the nation driving more and more people to the large urban centers.
Posted by I B Freeman
Member since Oct 2009
27843 posts
Posted on 7/25/19 at 8:48 pm to
quote:

not a good thing for the local communities or the nation driving more and more people to the large urban centers.


That is BS.

It makes living in rural areas EASIER. E-commerce makes inventory available to my family that the entirety of every store in our community did not have. I do not know a single store that has closed here because of Amazon. When Wal Mart came years ago they shut down some stores but not Amazon. Between DG expanding into rural areas and the advent of Amazon and other online retailers life is much easier in rural areas. Now if they can deliver health care and dental care!!
This post was edited on 7/25/19 at 9:00 pm
Posted by keakar
Member since Jan 2017
30152 posts
Posted on 7/25/19 at 9:04 pm to
if I B Freeman is against something, then its a 100% certainty its good for america and americans
Posted by cave canem
pullarius dominus
Member since Oct 2012
12186 posts
Posted on 7/25/19 at 9:11 pm to
quote:

When Wal Mart came


Then you are not in a rural small community dipshit, do you even think before you comment?
Posted by I B Freeman
Member since Oct 2009
27843 posts
Posted on 7/25/19 at 9:13 pm to
you dumb arse---Which of these Wal Mart towns are "urban" areas to you---McComb, Hazelhurst, Amite, Brookhaven, on and on.

Posted by cave canem
pullarius dominus
Member since Oct 2012
12186 posts
Posted on 7/25/19 at 9:21 pm to
quote:

you dumb arse---Which of these Wal Mart towns are "urban" areas to you---McComb, Hazelhurst, Amite, Brookhaven, on and on.


good lord you are ignorant of all facts.

Urban areas are defined as 1,000+ per square mile of population density, McComb is the first I looked up and it is 1,100 per.

I am not wasting any more time on your nonsensical drivel.
Posted by I B Freeman
Member since Oct 2009
27843 posts
Posted on 7/25/19 at 9:41 pm to
Let me get this straight you are saying first that e-commerce has not made life easier in rural areas and then you contend any community with a Walmart is an urban area and is not rural and you want to comment on the intelligence of other posters??
Posted by cave canem
pullarius dominus
Member since Oct 2012
12186 posts
Posted on 7/25/19 at 9:45 pm to
quote:

Let me get this straight you are saying first that e-commerce has not made life easier in rural areas and then you contend any community with a Walmart is an urban area and is not rural and you want to comment on the intelligence of other posters??



No, I am saying you are an idiot and you argument is with Merriam-Webster and the US Census Bureau not me.
Posted by birchbayduck
Birch Bay, Washington
Member since Jul 2019
473 posts
Posted on 7/26/19 at 1:06 am to
Amazon is also gutting the trucking industry now. They have too many hands in everything and need to be broken up fast.
Posted by FightnBobLafollette
Member since Oct 2017
12204 posts
Posted on 7/26/19 at 1:15 am to
quote:

heard an interview with the UPS chairman after their earnings announcement yesterday and he says they are going to start Sunday deliveries too. They had a good quarter.

Competition is a wonderful thing.


I welcome this.

Just another win over Christianity/conservatives. Love exposing the fakes.

This post was edited on 7/26/19 at 1:17 am
Posted by TeLeFaWx
Dallas, TX
Member since Aug 2011
29311 posts
Posted on 7/26/19 at 2:47 am to
quote:

This is the furthest thing from the truth. Amazon did hurt entrenched big boxes to the BENEFIT of small entrepreneurs and manufacturers excluded from the shelves of Wal Mart, Target, Home Depot, Etc.

Amazon has been great for small manufacturing companies across America. Mnuchin is just wrong when he says Amazon has hurt retail.


This is why you're a pseudo-intellectual hack 99% of the time. You think any symptom that's often a sign of market progress isn't just markets at work, but it is ALWAYS a result of honest free market participants, and on top of that it's somehow sacrosanct. You think because prices are lowered in one area, it can't have been achieved in spite of market forces, and then you somehow conflate that one aspect as evidence of nothing but markets in action. You might as well think your wife getting pregnant from the mailman is proof you gave her an orgasm and the child is yours, even though you've been in a sexless marriage for years. It's the same kind of delusion.

You think China giving us cheap junk, even when it undermines countless market forces to do so, is somehow advancing markets. Your defense of Amazon is in the same vein. If they are delivering us cheaper products by cheating with anti-competitive practices, then they need to be looked in to. It doesn't matter if the gave your Chinese finger trap shelf space when Target and Wal-Mart wouldn't. That isn't evidence of anything.
This post was edited on 7/26/19 at 2:52 am
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