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Bloomberg’s View: “US Superstar Companies Gouge Consumers, Underpay Workers and Invest Too Little”

Courtesy of Mish.

In a “Bloomberg View,” Noah Smith says America’s Superstar Companies Are a Drag on Growth.

The U.S.’s superstar companies gouge consumers, underpay workers and invest too little https://t.co/zmjHKWCTJd pic.twitter.com/d6ZwtQk9Az

— Bloomberg View (@BV) September 4, 2017

Amazon is gouging consumers? Walmart? Google?

The article did not mention a single superstar company that is gouging consumers. Instead, Smith cites studies that also fail to mention a single company that is gouging consumers.

Amazon, Walmart, etc., real “superstars” are huge deflationary forces. The Fed wants no part of it.

The Fed is hell bent on forcing prices up in an inherently price-deflationary world. With near-zero interest rates, it’s no wonder profits are high (until of cousre the bubble collapses).

Here is a snip from a research paper, by Gustavo Grullon, Yelena Larkin and Roni Michaely that takes another look at industrial concentration.

I call that economics gibberish just as the Phillips Curve is economic gibberish.


Continue reading here…


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