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Message
re: Private payrolls shrunk 33k in June, badly missing expectations of 100k increase - ADP
Posted on 7/2/25 at 7:46 am to slackster
Posted on 7/2/25 at 7:46 am to slackster
quote:
To be clear, you don’t believe the economy is strong so it needs to be stimulated with lower rates?
We are at the dual mandate again for the fed. We know the jobs report is BS. The UE rate is actually higher. Inflation is at or below the 2% target
They need to cut another 1%
Too late has admitted hes too late twice now. Hes playing politics and everyone knows it but and a few others it seems
1
Posted on 7/2/25 at 7:47 am to SlowFlowPro
The anticipated correction is a decade plus behind. That 2008 fiasco created by policies from 90’s was a huge problem but it continued the trend of cheap money to banks, extremely poor decision making and a debt crisis which short of an absolute miracle will continue to balloon, until it doesn’t. The foreign debt that people harp on is small in comparison to debt holders here, the taxpayers by way of the fed/ big banks, and is more or less offset with debt we hold of other countries so that is but a redirection of fear mongers. These interest payments on these trillions basically go right to these banking entities. When this merry go round stops is anyone’s guess but I’d rather it today than tomorrow
Posted on 7/2/25 at 7:48 am to StringedInstruments
quote:
Private payrolls shrunk 33k
Lotta illegals being purged from the books.
I bet this will be overlooked
Posted on 7/2/25 at 7:50 am to slackster
With all the crazy out there - from the Left /promoting/electing a Communist for NYC Mayor to Trump firing tons of Biden make-work anti-Capitalist DEI government hires - I cannot imagine where investors put their money. Other than AI and the infrastructure required to support it. NWS the dangers therein that is the future.
Finessing the transition from an economy based on Government fiat money back to one that is based on real production won’t be cake. Especially with the Marxist Dems throwing a wrench in any Capitalist success.
Finessing the transition from an economy based on Government fiat money back to one that is based on real production won’t be cake. Especially with the Marxist Dems throwing a wrench in any Capitalist success.
Posted on 7/2/25 at 7:53 am to StringedInstruments
And there it is - the winning thought. Granted a lot a illegals were not exactly working and being accounted for but larger firms cannot hide them easily so yes I would think now off the payrolls surely would show up
Posted on 7/2/25 at 7:53 am to StringedInstruments
quote:
Lotta illegals being purged from the books.
Illegals pay payroll taxes?
Posted on 7/2/25 at 7:53 am to slackster
quote:
To be clear, you don’t believe the economy is strong so it needs to be stimulated with lower rates?
Again, trying to drive the conversation through your myopic retard aperture.
Rates can be higher than optimal even if there is a strong economy. Especially when they are purposefully elevated to correct a problem that doesn't appear to persist.
Do we want a strong economy or the strongest economy possible within the bounds of sound monetary policy?
Posted on 7/2/25 at 7:54 am to Nosevens
quote:
And there it is - the winning thought. Granted a lot a illegals were not exactly working and being accounted for but larger firms cannot hide them easily so yes I would think now off the payrolls surely would show up
You’re claiming employers reported that they employed unauthorized employees?
Posted on 7/2/25 at 7:55 am to 4cubbies
quote:
Illegals pay payroll taxes?
Actually, yes. Some do. Some are able to obtain documents that let them get through e-verify.
Posted on 7/2/25 at 7:55 am to 4cubbies
quote:
Illegals pay payroll taxes?
In many instances, yes.
That's why there are so many "dead" SSNs in circulation and why illegals have been supporting Medicare/SS for years.
Posted on 7/2/25 at 7:56 am to 4cubbies
quote:
Immigrants who do not have a valid visa or other proof of legal status are not eligible for an SSN. Instead, these workers can apply through the IRS for an individual taxpayer identification number, or ITIN, to file their taxes. As of January 2021, there were an estimated 5.4 million active ITINs.
Posted on 7/2/25 at 7:57 am to 4cubbies
The roofing companies were saying they were making all this money on roofs with nobody to put them on?
Posted on 7/2/25 at 7:57 am to slackster
ICE deportations. Illegals were the only group prospering under Biden.
Edit: Found it. From August 2024:
Edit: Found it. From August 2024:
quote:
The August jobs report released by the U.S. Bureau of Labor Statistics shows foreign-born workers gained more than 1.2 million jobs over the last year. Unfortunately, native-born Americans lost more than 1.3 million jobs during the same time period.
quote:
The new August jobs report shows employment numbers of U.S.-born workers and foreign-born workers going on two very different trajectories. Data released by the Bureau of Labor Statistics, an arm of the Department of Labor, shows native-born Americans lost more than 1.3 million jobs over the last 12 months, while foreign-born workers gained more than 1.2 million jobs. The news comes as U.S. job growth picked up in August but missed economists’ expectations, while the unemployment rate changed little.
This post was edited on 7/2/25 at 8:01 am
Posted on 7/2/25 at 7:58 am to Turbeauxdog
quote:
Rates can be higher than optimal even if there is a strong economy. Especially when they are purposefully elevated to correct a problem that doesn't appear to persist. Do we want a strong economy or the strongest economy possible within the bounds of sound monetary policy?
Where should rates be?
Posted on 7/2/25 at 7:59 am to SlowFlowPro
quote:
In many instances, yes.
That's why there are so many "dead" SSNs in circulation and why illegals have been supporting Medicare/SS for years.
Just got clarity, are you saying a significant number of illegal immigants commit identity theft?
Posted on 7/2/25 at 8:00 am to slackster
quote:
Fed’s job is stable prices and full employment.
Nope it is to protect big banking. That is all it cares about.
It couldn’t give 2 fricks about the average American.
Posted on 7/2/25 at 8:00 am to 4cubbies
quote:
Illegals pay payroll taxes?
Have you never heard of ITIN
Posted on 7/2/25 at 8:01 am to 4cubbies
quote:
Just got clarity, are you saying a significant number of illegal immigants commit identity theft?
Here's an article from The Hill:
quote:
In fact, the Social Security Administration and New York Times report that approximately 75 percent of illegal aliens have fraudulently obtained Social Security numbers which is a felony. The ACLU accepts this figure and uses it to show that illegal aliens pay payroll taxes.
NYT and ACLU are hardly right wing sources.
Posted on 7/2/25 at 8:05 am to slackster
quote:
Where should rates be?
That has nothing to do with kjsfp's retarded gotcha attempt, or the feds politicization.
Directionally? Probably lower than they are now given they are elevated to temper inflation that has been normalized, but never as low as they were for the 15+ years prior.
Posted on 7/2/25 at 8:05 am to SlowFlowPro
I googled and see tons of articles about this. Naively, I thought it would be harder to commit identity theft.
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