Bidenomics 101 (Income): Real Gross Domestic Income Growth NEGATIVE For 3 Consecutive Quarters As M2 Money Growth Worst Since 1933 And The New Deal (Only 187k Jobs Added In August And ALL Of Last Year’s Jobs Added Were Revised Downwards)

Confounded Interest ^ | 09/01/2023 | Anthony B. Sanders

[Kaiser8408a]

The glories of Bidenomics is on fully display. Despite what Lyin’ Biden says, Bidenomics is only working for the elites (top 1%). How Soviet/CCP command economy of him!

Here is an ugly chart showing Bidenomics in action! We all know that Covid unleashed a torrent of Fed monetary stimulus AND Federal spending on Covid relief and green energy subsidies (most to large Democrats donors). BUT we now have experienced 3 consectutive quarters of negative gross domestic income (GDI) growth. And nominal GDI growth is falling with falling M2 Money growth.

And today’s jobs report for August showed that only 187k jobs were added.

Superficially this would have meant an unchanged print from last month when the BLS also reported 187K jobs, however in keeping with recent trends that number was revised – drumroll – lower again, to 157K, meaning that every single monthly payrolls print in 20-23 has been revised lower (see chart below), a 12-sigma probability and virtually impossible unless there was political pressure to massage the data higher initially and then revise it lower when nobody is looking. (As if the mainstream media is at all honest!)

But wait there’s more: while July was revised down by 30K from +187,000 to +157,000, June was revised even more, by 80,000, from +185,000 to +105,000, which means that a number that was originally reported as 209K has been reivsed 50% lower, to 105K and a collapse vs original expectations of 230K. Here, the BLS was proud to report that “with these revisions, employment in June and July combined is 110,000 lower than previously reported.”

So, the economy is slowing under Bidenomics and Cadavar Joe.

Will Cadavar Joe actually go out on the campaign trail and debate ANY Democrat or Republican?? Remember, this is the man with the nuclear launch codes.

[Kaiser8408a]

Cadavr Joe, the bully of the middle class.

[FlingWingFlyer]

The FJB Brandon administration is lying its ass off to the American people with the help of their toads in their Fake News Mainstream “media”. Without the “media” propping him up and an extremely ignorant and gullible public, the White House Pedo would have been gone many moons ago.

[ClearCase_guy]

“Everything is great.”

[eyeamok]

But 80 million people voted for this.

[Lockbox]

ALL Of Last Year’s Jobs Added Were Revised Downwards

That just begs the question...... can I tell the IRS my income and then 8 months later revise it upward with no interest and penalties?

[frogjerk]

M2 needs to slow to reduce inflation but with that comes recession. There is no way around it, no "soft landings", etc...

This is the hangover from the spending spree we had.

[frogjerk]

So for 2023, what was the total reported jobs vs revised number?

[frogjerk]

So I did a quick calculation and it looks like Bidenomics is overstating the number of jobs created this year alone is by 335K not including August revision (which is not in yet).

So they are stating about 15% more jobs created than the true number on average for 2023.

Another thing, how many of these new jobs are people taking on another gig due to poor economic circumstances? Not sure if that is tracked but it should be. I would expect a small percentage of people would not admit to having two jobs due to their not wanting their primary employer finding out.

[oldtech]

Everything seems to be going just as I thought it was...the American public is being systematically lied to, cheated, & stole from. Not ALL of the public is ignorant & gullible. Bidenomics is pure crap.

[oldtech]

Everything seems to be going just as I thought it was...the American public is being systematically lied to, cheated, & stole from. Not ALL of the public is ignorant & gullible. Bidenomics is pure crap.