Amazon's purchase of Whole Foods spells more bad news for consumers and local economies

Online behemoth Amazon is acquiring Austin-based Whole Foods Market for $13.7 billion, the companies announced Friday—a development that watchdogs say will pad billionaire pockets and spell bad news for consumers.

Jim Cramer, host of CNBC's "Mad Money," expects the deal to make Amazon, headed by Jeff Bezos, "dominate food within the next two years."  Read more.