ADP Misses By A Mile, Clouding Outlook For August Jobs Report
Given ADP's recent track record vis-à-vis NFP, I suppose it would be foolish to put too much stock (figuratively or literally) in the latest read on private sector employment.
For three consecutive months, ADP has proven a poor guide when it comes to predicting nonfarm payrolls, and subsequent revisions have been laughably large. In July, for example, ADP posted the largest miss in history, only to be followed up by another big beat on NFP.
Still, market participants were interested for any c
Republicans seem more interested in promoting conspiracy theories than addressing the situation. The party’s fecklessness vis-a-vis all things COVID is setting it up for an historic wipeout in November.
The Republicans are like deer in the headlights having long given up their ability to think and exercise free will. They stood silently while Trump and allies took down first one then another who exercised free will. Now they are simply unable to react.
And the Democrats whiffed on selecting a strong and energizing presidential candidate (again) making this election into an apparent toss up. Must same something about human nature.
As an aside I believe America desperately needs a multiparty system as this two party one leaves us in a perennial stasis that is repeated every 2 – 4 years while our world deteriorates around us.
I’ve said for a year that Dems would be better off embracing Ocasio-Cortez and Ilhan Omar, if not necessarily 100% backing all of their policies. When the other party has a star (Trump) you have to embrace your own stars. As we’re seeing, the GOP is going to equate all Democrats with Progressives anyway. The idea was to put Biden out there and say “see, we’re not ‘radicals'”. And what did Trump do? He turned right around and claimed Biden is a radical anyway. Now Joe is running around promising people he’s not a radical, which comes across as desperate. And here’s the thing: It’s not like AOC or Ilhan or Rashida or Ayanna were going to run for president, so there was no chance of “losing control” (so to speak) of the party if you were Pelosi. She should have leveraged their star power and energy. I don’t pretend to know the “right” way to have done that without alienating centrist voters, but I do know it was a missed opportunity.
“As we’re seeing, the GOP is going to equate all Democrats with Progressives anyway.”
This literally can’t be said enough and is the most damning attribute of the Democratic Party. They’ve fallen for this crap since Dukakis in 1988.
“As we’re seeing, the GOP is going to equate all Democrats with Progressives anyway.”
You don’t get out much, do you? Let me help you. “As we’re seeing, the GOP is going to equate all Democrats with rapists, murderers, jack-booted Antifa thugs, socialists, rioters, looters, arsonists, communists, baby killers and Satan worshippers who are gonna kick down your door, rape your wife and daughters, take your guns and whisk you away in a black helicopter to work as a slave forever in FEMA camp.”