Bidenomics is a great marketing ploy where you have out of control Federal spending and magically decide to reopen the economy and school after Covid and focus only on jobs added after Biden was selected President and ignore the jobs added during Trump.
Real gross domestic income (GDI) is a measure of the incomes earned and the costs incurred in the production of gross domestic product. It’s another way of measuring U.S. economic activity. BEA also publishes the average of real GDP and real GDI.
REAL GDI dropped to -0.8% QoQ for Q1 2023. Kind of looks like Bidenomics is running out of gas.
On Biden’s claims that he created twice as many jobs as any other President, the US economy add 12.53 million jobs after April 2020 (Trump) while Bidenomics created took 2 1/2 years to add 12.56 million jobs.
The US Treasury yield curve (10Y-2Y) is now inverted at -103 basis points.
As Fed stimulus wears out, so is the Treasury 10Y-2Y yield curve.
