Americans Drive Up Their Debt As Amazon Faces Antitrust Issues

The development of the U.S. economy in the coming years will have a major impact on the global financial situation which Banyan Hill Publishing Editor, Jeff Yastine likens to that seen in 2007. Casting one’s mind back to the days before the 2008 economic crash will see readers remembering the huge levels of debt undertaken by Americans which contributed to a stock market crash. Read more about Jeff Yastine at Talk Markets.

As a reporter with PBS Nightly Business Report, Jeff Yastine was one of the few correspondents in the U.S. to try and warn the public of the coming financial issues as far back as 2007. In 2017, credit card debt levels in the U.S. hit $1 trillion with $92 billion in credit card debts added in 2017 alone as the total consumer debt in the U.S. topped $12 trillion. Yastine offers his insights for a range of publications within the Banyan Hill Publishing family and has stated his belief the time to panic has not yet arrived as debt delinquency rates are not as high as they were in 2008 when the global economy crumbled. Learn more about Jeff Yastine at Crunchbase.

In terms of the American economy, Jeff Yastine believes the development of a case for antitrust laws being violated by Amazon in Japan in recent months could result in ramifications felt in the U.S. Amazon has faced accusations of antitrust violations in the past but has never faced such issues as the recent raid on the Japanese headquarters of the company in early 2018. University of Florida graduate, Yastine has stated the problem for Amazon comes from the deep discounts consumers love are not paid for by the company but absorbed by their suppliers.

President Donald Trump has weighed in on the issue of Amazon’s tax breaks and USPS deals which are thought to be costing the American consumer money in the long term. Despite the problems the brand is facing, Jeff Yastine believes stock in this company should still be purchased as it has become a retail giant capable of surviving its current problems. Amazon remains the dominant force in the U.S. retail sector as the brand has seen many rivals, including Main Street giants Claire’s file for bankruptcy over the last few years.