It's Wednesday, August 5th, 2020, just after market closed in New York.

This is the Real Vision Daily Briefing.

I'm Ash Bennington in New York, joined shortly by our managing editor, Ed Harrison. We're skipping the intro today because

some of our folks here in the tri-state area are still without power from the tropical storm.

Ed, welcome back.

Yeah, thank you, Ash.

It's a difficult day in many ways.

I mean, you talked about the storm in the tri-state area there.

We had it as well, but in Beirut, you know, where 300,000 people have been displaced and, you know, there are hundreds dead.

Our solidarity is definitely with them today, and it's been a difficult sort of human

tragedy over there. Yeah very difficult the video hard to watch frankly.

So you know it's hard to talk about markets in that context, but there are a decent number of numbers that have been coming out in the U.S. that I'm looking at and thinking about in terms of what the U.S. economic situation is.

Yeah, and one of the things that we spoke about this morning were the ADP payroll numbers.

What are your thoughts there? Yeah, so the ADP payroll numbers. What are your thoughts there?

Yeah, so the ADP payroll numbers

were really, really weak.

In fact, they were projecting 1.5 million jobs added in the last month and we only got 167,000.

So I mean when you talk about misses, that's a gargantuan miss, first of all it tells you the scale of the job loss

slash gains that we're talking about as a result of the pandemic and it gives you a

sense of how difficult it is to forecast in this environment, but in addition to that, really what it points out is that there is definitely some slowing that's going on, that we are definitely seeing slowing that's going on that we are definitely seeing

uh... slowing of the u.s economy you can't only add a hundred and sixty seven

thousand jobs in july without it being assigned that things are not well in the US economy.

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