The stock market gurus are going nutso over the rapid increase of Amazon, Apple and other internet stocks. Seems all they see is how it's making truck load of fellow investors ultra-rich. Admittedly it is an amazing thing to watch. In the mean time, these giants are plotting to take control of the retail market in America, via the internet. As a result a lot of retail companies are jumping on the band wagon (1) as a possible cost savings of mega-dollars in owning and managing retail outlets all over the country; and (2) for fear if they don't jump on the wagon they'll be left in Amazon's dust. Stores such as Barnes & Nobel, Penny's, Sears, Staples and scads of others may soon be fading memories. So,is that good or is it bad? Things never stay the same. Hi-tech innovation will naturally change the way we do business, and how we live our lives.
When WalMart came on the scene they closed down Main Streets all over the country. Most noticeably in smaller towns throughout middle America. Long standing family businesses failed, unemployment soared, buildings vacated and rotted, and people fled to larger cities looking for employment. Home owners lost their homes and mortgage lenders lost billions because the loss of jobs meant there was nothing to draw new home owners into dying towns.
Now we have hi-tech companies plotting to take over the majority of retail business, what can we expect to follow? The end of WalMart, Home Depot, Lowes, etc? More retailers going out of business. More jobs lost? The failure of banks and others who financed shopping malls, operating capital, inventory capital, and expansion projects? True it will require more huge warehousing facilities all around the country, but remember, most of those jobs will be filled with robots.
And lets not forget the tax money that finances towns/cities. As people leave, tax revenue will decrease substantially. Government assistance payments will increase and crime will take advantage of vacant buildings for their felonious ventures. Let your imagination wander and the horror gets worse and worse.
This massive undertaking of retail markets could completely change the nation's economy. It's either time for the federal government to step in and institute anti-monopoly laws, or do nothing and watch the pending disaster unfold. I realize that there probably aren't more than a handful of politicians smart enough to address this problem and come up with plans that will provide protection for the economy. Right now, it's likely that only Trump's inner circle of CEO executives has the business expertise to tackle the problem. Its for sure it can't be left up to Pelosi, Schumer, McConnell, Ryan, Sanders, Warren, Waters and the like.