Fox Business' Peter Morici tried to spread a dose of reality to Stuart Varney's viewers this morning when he told them that the delivery deal between Amazon and US post office has kept them solvent and not hurt the company.
Earlier today, because of a personal vendetta against Jeff Bezos, Donald Trump tweeted this out.
Varney said, "The president's gone after amazon again," and he read off the tweet.
He asked, "Peter, when the president attacks you, your stock goes down, but do you think Amazon's in trouble?"
Morici replied, "No. i don't think Amazon's in trouble. i think it's on sound footing. the bottom line is the Post Office has to deliver six days a week to every address in America. That is a losing money proposition. by carrying packages for Amazon, UPS, FedEx, whatever, it basically reduces those losses and that's a good thing."
"If it wasn't for Amazon and the others, the Post Office losses would be mammoth and the taxpayers would have to bail it out," he said. (Ed. Note: This isn't right either. Rates would rise, because the US Postal Service isn't allowed to lose money and wouldn't be losing money if it weren't for the ridiculous constraints Congress places on their pension funding requirements)
Did you hear that, Donald? The Amazon deal is saving the US Post Office by helping to offset its losses. Only a fool would think otherwise.
Fox Business analysts are usually cheerleaders for every economic policy Trump pukes out there so this is a particularly harsh rebuke of his idiocy.
