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Business, Economics, and Taxes: Eat Cereal for Dinner

Yeah when the unemployment numbers come out it is going to be bad even without long termers. But these numbers are friggin crazy because they are actual current layoffs. And these are July...imagine how bad the tariff era numbers will be. But I am sure AI can handle it replacing them all...I mean it is so good at everything else!
 
Handyman said:
Nah cause ADP will put out there numbers and someone will leak the numbers from BLS too. Just like at HHS.
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Yeah, someone will leak the real numbers. Although it will probably take a day or two so the various Wall Street firms can get their affairs in order.
 
I believe RFK said the same thing...I think they will have to fire everyone to actually make that happen.

Plus, what Lynah said is probably most important.
 
Jimjamesak said:
Yeah, someone will leak the real numbers. Although it will probably take a day or two so the various Wall Street firms can get their affairs in order.
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How do think tanks estimates the economies of North Korea, Venezuela, and Russia? Use the same methodologies now that the USG is a crime syndicate.
 
Jimjamesak said:
Yeah, someone will leak the real numbers. Although it will probably take a day or two so the various Wall Street firms can get their affairs in order.
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If they even bother to collect numbers.

And if ADP comes out with different numbers it's just, "they hate Trump, phony numbers, hoax".
 

Matt Novak (@paleofuture.bsky.social)

I filed a FOIA request with the FTC to get user complaints about ChatGPT. In one case from Utah, a mother reports her son was experiencing a delusional breakdown and ChatGPT told him to stop taking his medication. The AI bot also told him that his parents were dangerous...
bsky.app bsky.app
 
rufus said:
If they even bother to collect numbers.

And if ADP comes out with different numbers it's just, "they hate Trump, phony numbers, hoax".
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At a certain point, Wall Street will know what the true numbers are, because their livelihood depends on it. Eventually, the shit will hit the fan.
 
MichVandal said:
I don't know where the great leap happened- in the progress of specific search and recognition or AI.
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Marketing happened.

Seriously, I said this when the "AI revolution" suddenly hit. Nothing changed, other than incremental improvements. But Marketing got behind it, and suddenly everything had to be "AI" in order to sell it. It seems that every single item that gets sold, has to have the "AI" label attached to it. It's insane.

Some of you oldies may remember in the software development field, the "CASE Tools Revolution." This reminds me of that. And before CASE tools, it was automated testing that was going to cure everything. As a SW Test Engineer, I never did get laid off because of automation. Hmmm.....
 
Russell Jaslow said:
At a certain point, Wall Street will know what the true numbers are, because their livelihood depends on it. Eventually, the shit will hit the fan.
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That wont happen as long as billionaires are willing to burn money on stupid boondoggles like AI. Even tariffs aren't killing it these days. The Market is no longer even partially a reliable indicator because the system is rigged to the worst degree it has been since The Gilded Age.

And AI isn't going to burst for a while because every corp and talking head is buying into it. College campuses are buying their students full access to things like ChatGPT. As long as they keep finding markets to fool the pyramid will keep growing.
 
Handyman said:
That wont happen as long as billionaires are willing to burn money on stupid boondoggles like AI. Even tariffs aren't killing it these days. The Market is no longer even partially a reliable indicator because the system is rigged to the worst degree it has been since The Gilded Age.

And AI isn't going to burst for a while because every corp and talking head is buying into it. College campuses are buying their students full access to things like ChatGPT. As long as they keep finding markets to fool the pyramid will keep growing.
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My cousin is "in" Wall Street. And I disagree with you. The biggest asset anyone in Wall Street has is information. Because they don't want to be caught out. If they know the numbers suck, they start selling off big time before they get caught with their pants down.

They said the same thing about the .com frenzy. All pyramid bubbles eventually burst (or go through a significant correction).

Eventually, the shit will hit the fan.
 
I didnt say it wouldn't...it just won't be any time soon. As long as its expanding Wall Street won't walk away from it.

And you can tell me all Wall Street cares about is not getting caught out and I will point you to a dozen times in my lifetime they bought what hucksters sold them and it took them years to realize how bad it was. They dont know anything and worse they believe they know everything. Once a decade they blow everything up with their "information". If not getting caught out is their goal they fail on a level that makes even the worst sports franchises blush.

Wall Street does what the money tells them to do...always has and always will.
 
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