Treasury's Mnuchin says Amazon 'destroyed' U.S. retail sector

[azzaro]

https://news.yahoo.com/treasurys-mnuchin-says-amazon-destroyed-213215303.html


OOOOhhhh... now they finally know...what people like me have known for sometime !

 

[anon_vlad]

I wonder if Trump can be completely objective about Amazon. Bezos, the founder of Amazon, owns the Washington Post which is very critical of Trump.

Secondly, the value of Trump's buildings can only decline if fewer retailers can and want to rent space in them.

 

[Sol Tee Nutz]

Not a fan of Amazon, Walmart, Costco ( except for their Kirkland Vodka.. they bought Grey Goose and 1.75L is $45.) All these stores destroy small town shopping. They do not sponsor community sports either.

 

[anon_vlad]

I agree with you for once, STN. However, "progress" which minimizes cost or increases revenue is extremely difficult to stop or even slow.

 

[minutemenX]

Railroads destroyed the horse carriage industry, automobile diminished passenger trains, etc. Progress and customers choice. Small stores should start selling weed and do erotic massages in back rooms. When I lived in NYC a long time ago Bagel Boy was open 24/7. Do you think they sold only bagels?

 

[Sol Tee Nutz]

There will be no more stores in the future that you walk into, farms of 50 sq miles will be run by a 1 man behind a computer, no more cute waitresses, no more fast food cooks, assembly lines all robotics. Jobs for the future.. plumbers, electricians, refrigeration, hydraulics, elevator repair ( big demand now ).. yup, trade jobs, the ones university kids joke about. I was impressed with individual wrapped sliced cheese a long time ago, some of this new stuff ... Gotta try one of those hoverboards before my bones get too brittle.

 

[donbusch]

Mnuchin’s full of shit. His fortune has been built on predatory lending, foreclosing homes of the vulnerable and asset stripping retailers like Sears.

https://www.salon.com/2018/12/21/st...-from-wall-street-to-trumps-treasury_partner/

America’s tech sector is the crown jewel of its economy. China’s rapidly catching up with companies like Alibaba, Tencent, Baidu while Trump & Mnuchin suddenly decide that companies like Amazon should be investigated. Nuts :der:

 

[Carmine Falcone]

I wonder if Trump can be completely objective about Amazon. Bezos, the founder of Amazon, owns the Washington Post which is very critical of Trump.

Yup. Therein lies the rub. On one hand, Mnuchin isn't wrong, even if he's a little too specific. Amazon and e-commerce in general is why retail stores are dying. But to single out Amazon reeks of the same 'ol Trump using his power to go against his perceived enemies. Trump has already gone after Amazon once over the company supposedly taking advantage of the Post Office.

But since the entire Trump administration is full of the most incompetent dipshits ever (an unexpected gift, for sure), their own words always come back to haunt them. Take the CNN-AT&T merger. The anti-competition merit of not having an even bigger media conglomerate is a good one, but when the Justice Dept. opposed the merger, it wasn't that hard to counter argue that all of Trump's attacks on CNN played a role in why the Justice Dept. wanted to block the merger. The merger went through.

 

[Rayan90s]

I tried my best to help small/local businesses, but at my expenses. the prices at big chain retailers is unmatched.