The OECD says that the global economy is not only on a mend, but is likely transitioning into an expansionary phase.
From the OECD press (bold emphasis added)
``OECD composite leading indicators (CLIs) for July 2009 show stronger signs of recovery in most of the OECD economies. Clear signals of recovery are now visible in all major seven economies, in particular in France and Italy, as well as in China, India and Russia. The signs from Brazil, where a trough is emerging, are also more encouraging than in last month’s assessment.
For us, this phase accounts for as the "benign side or sweet spot" of inflation.
To quote Hans Sennholz, ``The subtle instruments of inflation and credit expansion first lead to the "prosperity" side of the trade cycle."
From the OECD press (bold emphasis added)
``OECD composite leading indicators (CLIs) for July 2009 show stronger signs of recovery in most of the OECD economies. Clear signals of recovery are now visible in all major seven economies, in particular in France and Italy, as well as in China, India and Russia. The signs from Brazil, where a trough is emerging, are also more encouraging than in last month’s assessment.
For us, this phase accounts for as the "benign side or sweet spot" of inflation.
To quote Hans Sennholz, ``The subtle instruments of inflation and credit expansion first lead to the "prosperity" side of the trade cycle."
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