U.S. Treasury Secretary Steven Mnuchin said on Wednesday that online giant Amazon has ‘destroyed the retail industry across the United States.’
Mnuchin said he looked forward to hearing the results of a Justice Department probe, announced on Tuesday, into whether big U.S. technology firms engage in anti-competitive practices, the strongest sign yet that the Trump administration is stepping up its scrutiny of Big Tech.
‘If you look at Amazon, although they’re certain benefits to it, they’ve destroyed the retail industry across the United States,’ Mnuchin told CNBC.
‘I don’t have an opinion other than I think it’s absolutely right the attorney general is looking into these issues and I look forward to listening to his recommendations to the president.’
Amazon defended itself, saying that 90 percent of all sales in the U.S. occur in brick-and-mortar stores.
‘Today, independent sellers make up more than 58 percent of physical gross merchandise sales on Amazon, and their sales have grown twice as fast as our own, totaling $160 billion in 2018,’ a spokesman for Amazon said.
‘Small and medium-sized businesses are thriving with Amazon,’ the spokesman continued.
Mnuchin also said the small amount of work that Google does with the Chinese government did not raise any concerns, despite President Donald Trump’s calls last week for his administration to investigate the issue.
‘The president did look into that as well as I,’ Mnuchin said. ‘Google is an American company who wants to help the U.S.’
A Justice Department spokesman declined to say on Tuesday which companies it would scrutinize under the antitrust probe, but said the review would consider concerns raised about ‘search, social media, and some retail services online’ – an apparent reference to Google, Amazon and Facebook.
The antitrust division is reviewing ‘whether and how market-leading online platforms have achieved market power and are engaging in practices that have reduced competition, stifled innovation, or otherwise harmed consumers,’ the Justice Department said in a statement.
The news comes after lawmakers and activists raised concerns about the growing dominance of online giants such as Google, Facebook and Amazon in key segments of the digital economy.
Trump himself has often berated the tech giants for alleged bias against conservatives, and has singled out Amazon over tax issues.
I tell you what Joo Bezos, your one POS SOB, you have gotten away with this because of protection from the elite of the elite. Your not overly smart or remotely desirable to even the ugliest of toilet bugs. Your days of this Joo ass conning of American Nationals are numbered, count on it.
Nobody gets away with what you and your fag pedaphile elitist scum have gotten away with. Cant hide asshole…
THE GREED OF AMERICANS, THAT WAS TAUGHT BY THEIR JEWISH MASTERS, IS WHAT HAS “DESTROYED THE RETAIL INDUSTRY” IN THIS COUNTRY. AMERICANS WERE TAUGHT TO PINCH PENNIES SIMPLY BECAUSE OF THE DIRECT JEWISH TAXES TO ISRAEL, AND THE UNLAWFUL INTEREST ON OUR CURRENCY.
ON A SIDE NOTE, I REMEMBER WHEN I WAS LITTLE, IT WAS A PRIVILEGE TO HOLD OFFICE IN THE US ANYWHERE…….
ANY OFFICE. IT WAS CONSIDERED A PRIVILEGED TO “SERVE THE PEOPLE”. TO HOLD A GOVERNMENT OFFICE FOR GAIN WAS A SHITTY PROPOSITION AT BEST. WE USUALLY TRIED TO ELECT PEOPLE THAT RAN BUSINESSES AS A PRIMARY MEANS OF INCOME. SHOPKEEPERS, FARMERS, CONTRACTORS ETC., AND HIRE THEM HELP TO DO THE WORK. NOW WE PAY THEM A FORTUNE AND PAY FOR THEIR “ASSISTANTS” SO THEY CAN WAR AGAINST US AND STEAL OUR RESOURCES AND GIVE TO OUR ENEMIES, AS THEY CLAIM TO “REPRESENT YOU”. THIS IS A BIBLICAL EVIL. A VERY OLD AND CONNIVING SPIRIT. IN TIMES PAST, IF YOU HAD A FAMILY MEMBER THAT WAS “BAD”, LETS SAY, FOR INSTANCE, A CHILD RAPIST, AND HE WAS MURDERED, NO ONE WOULD FILE A COMPLAINT. GOOD RIDDANCE. NOW, THE “STATE” TAKES UP AN INVESTIGATION, AND HE THAT KILLED THE KIDDY DIDDLER IS RAKED OVER THE COALS FOR DOLING OUT JUSTICE, LOSING EVERY DIME HE HAS OVER LAWYER FEES, AND POSSIBLY SERVING LIFE IN PRISON. THIS FORM OF GOVERNMENT IS NEITHER RIGHTEOUS, OR “JUST”. “DISTRICT ATTORNEYS” CAN BE BOUGHT. OR BLACKMAILED INTO “LETTING IT SLIDE”, OR BRINGING DOWN “THE HAMMER”. ITS NOT THE CRIME THAT CONDEMNS YOU NOW, IT IS “WHO YOU ARE”.
“And the vast majority of retail sales – 90% – still occur in brick-and-mortar stores according to the U.S. Census Bureau.’”
THIS IS BECAUSE AMERICANS CAN SCARCELY AFFORD FOOD AND FUEL. THAT WE DONT WANT TO PURCHASE ON THE “INTERNET”.
IF YOU THINK I AM WRONG, THEN EXPLAIN THE EXISTENCE OF “NAMBLA” ON US SOIL………AS WELL AS THE EXISTENCE OF “THE COMMUNIST PARTY”. PLEASE GET ON HERE AND TRY TO JUSTIFY THIS BULLSHIT. I KNOW YOU SONOFABITCHES ARE READING AND LISTENING.
HEY KOERNKE!!!! GO VOTE!!!!! PRICK……….
So if “small and medium sized businesses are thriving with Amazon,” then how come Amazon has decided to stop selling stuff from small and medium sized businesses? And back in 2001 or so when I tried to get them to let me send them a bulk-order of my books, they wouldn’t accept it? And why is it they change the formatting of e-books for indie publishers like me ever six months or so making it very frustrating to have to re-format my ebooks for their stupid Kindle Readers (which, BTW, is why I went with Lulu, who is able to destribute with Amazon? Other than Kindle, ANY OTHER E-READER can read my e-book The Prodigal Band Trilogy, and one can also turn the format into the Kindle format).
Stop being a bad liar, Bezos!
‘If you look at Amazon, although they’re certain benefits to it, they’ve destroyed the retail industry across the United States,’ Mnuchin told CNBC.”
They had ZERO help from me.
NEVER used Amazon for anything.
THE POT CALLS THE KETTLE BLACK…. AS MNUCHIN TRIES TO APPEAR AS “THE RIGHTEOUS JEW”. THAT SONOFABITCH WAS RIGHT IN THE MIDDLE OF THE DERIVATIVES SCAM LEADING UP TO THE CRASH IN 2008.
Treasury secretary says Amazon DESTROYED America’s retail industry. Actually, it was the Federal Reserve, brought to us by that ancient fraternity of Christ killers. Nice try at deflecting tho. Guess I just crossed that line of anti-Semitism. Hate speech!