Friday, February 17, 2012

Leading Economic Indicators Rise 0.4% in January

The Conference Board reports that its index of leading economic indicators grew 0.4% in January.

"This fourth consecutive gain in the LEI reflected fairly widespread strength among its components, pointing to somewhat more positive economic conditions in early 2012," said Ataman Ozyildirim, a Conference Board economist.

The reading for December was revised to 0.5% from a prior estimate of 0.4%. The same period that New York Times Keynesian economist Paul Krugman proclaimed:
...under depression conditions — which is what we have now — inflation is very much a positive thing.
Krugman-type Keynesian models are flawed and fail to understand the role of the central bank in creating the business cycle. If you follow Krugmanite thinking instead of Rothbardian thinking, you will never get things correct.

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