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BrianTheEVGuy

(563 posts)

23. I see where our misalignment is now

Reply to BumRushDaShow (Reply #22)

Thu Sep 5, 2024, 11:56 PM

Sep 5

You’re taking an archaic view of tech as an industry rather than as the capability that powers everything.

Everyone is a tech company now. Walmart, GM, etc. A lot of services are for tech implementation, and so on.

And AI is definitely a bubble but far from bursting. When it does, it will get even worse.

Go on LinkedIn and look at posts by various people about their experience in the labor market. Layoffs are common, it’s taking 6+ months to find jobs that pay 40% less than what folks were making 5 years ago,, and that’s with prices being 50% higher, companies are demanding pointless relocations and “return to office” in astronomically expensive cities like NY and the Bay Area, and so on.

This isn’t something the government has caused. But it’s something the government needs to address.

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Highlight:

August private payrolls rose by 99,000, smallest gain since 2021 and far below estimates, ADP says [View all] BumRushDaShow Sep 5 OP

As always, the Fed can never gage what is happening in the economy until well AFTER it happens lapfog_1 Sep 5 #1

"We are sliding into "recession" territory." BumRushDaShow Sep 5 #3

Thanks. Agreed. And, continue to be surprised stopdiggin Sep 5 #6

It's an artifact of past practices and their unfortunate aftermath BumRushDaShow Sep 5 #7

couldn't agree more. and what concerns me further is that this stopdiggin Sep 5 #9

Needless to say I don't share your optimizing. lapfog_1 Sep 5 #18

For some bizarre reason BumRushDaShow Sep 5 #21

Fed should cut .50 not .25. Make a statement & then hold for results. oldsoftie Sep 5 #2

Remember... BrianTheEVGuy Sep 5 #4

This report is done based on companies that subscribe (and provide data) to ADP BumRushDaShow Sep 5 #8

I'm not aligned BrianTheEVGuy Sep 5 #17

The "tech sector" has always been the victim of "bubbles", particularly over the past 3 decades BumRushDaShow Sep 5 #19

Not really accurate BrianTheEVGuy Sep 5 #20

It undergirds the economy with its use across different sectors BumRushDaShow Sep 5 #22

I see where our misalignment is now BrianTheEVGuy Sep 5 #23

To reply BumRushDaShow Sep 6 #24

It's different from the 80s or even the 00s BrianTheEVGuy Sep 6 #26

Again to reply BumRushDaShow Sep 6 #28

Ugh BrianTheEVGuy Sep 6 #29

Your entire discourse in this subthread BumRushDaShow Sep 6 #30

Lower interest rates already!!! JFC! They are waiting for a recession??? LymphocyteLover Sep 5 #5

It was inevitable, I was hoping for after the election IronLionZion Sep 5 #10

So far, the ADP numbers have been miles apart from the DOL ones BumRushDaShow Sep 5 #11

142,000 from BLS this morning IronLionZion Sep 6 #25

Yup BumRushDaShow Sep 6 #27

The ADP numbers cover only about 20% of the nation's private workforce progree Sep 5 #12

It's a common misunderstanding since they measure different things that sound similar IronLionZion Sep 5 #14

Nothing like squelching business with ultra high interest rates WhiteTara Sep 5 #13

"Nothing like squelching business with ultra high interest rates" BumRushDaShow Sep 5 #15

This was the Fed's plan, right? maxsolomon Sep 5 #16