Amazon.com is going to buy Diapers.com for $540 million.
Fortune Reports:Amazon.com on Monday will announce that it has agreed to acquire Quidsi, the parent company of websites like Diapers.com and Soap.com. The purchase price is $540 million in cash, with Quidsi's co-founders agreeing to multi-year employment contracts with Amazon (AMZN). The price tag is $200 million over what Quidsi was valued at in its latest round of venture financing.
Does anyone still think QE2 is going to end up as excess reserves, while at the same time commodities are soaring and Amazon signals it is time to start spending crazy sums?
Money is going to be leaking all over the economy. Only salaried workers, pensioners and other fixed income types will be left high and dry. Of course, salaried workers, pensioners and other fixed income types are the entire middle class and below. It'll be the wheelers and dealers, asset holders and the elite bankers, who will cash in on Bernanke's printing binge.
Posted by Robert Wenzel
Economic Policy Journal
Economic Policy Journal Site