I ask this seriously: if the American economy is really beset by a lack of competition, why are so many companies offering big markdowns on products today? Why is Amazon, for instance, selling its own devices for 40% off, instead of using its monopoly power to keep prices high?

And if the answer is: "They're playing the long game," at what point does that game end? If they actually now have a monopoly position, why are they not cashing in on it?

Set aside Amazon's markdown on its own devices: they may just be loss leaders so designed to get people to subscribe to Prime, buy Kindle books, etc. It also competes relentlessly on price against other retailers. Why is that necessary if it has market power?