[csomar]

> I feel that America is in the midst of a new gilded age; instead of Standard Oil, we have Amazon.

Except that Standard Oil probably had real oil (asset) and Amazon now has an inflated valuation based on potential future earnings.

Apple to Oranges in my opinion.

> The US economy isn't just about how comfortable the average US citizen is

If people are comfortable, they'll accept whatever. Look at the middle-easter countries (Dubai, Qatar, Kuwait). Look at the American people pre-2008 crisis.

The people of America are being squeezed by relentless financial predators (like banks), expensive wars that they have to fight and support (or maybe not but they are paying the price), globalization, expensive bureaucracy, etc...

[bumholio]

>Standard Oil probably had real oil (asset) and Amazon now has an inflated valuation based on potential future earnings. Apple to Oranges

Amazon has a dominant market position in online sales. It's not a natural resource but it a position that affords it strong economies of scale and, eventually, monopoly rents, just like those earned by Microsoft, Facebook or Google in their markets.

Network effects are the oil of our age.