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flavor of our foods and the role that food plays in our lives. That’s why we urge a wide-ranging, innovative approach to sodium reduction on the part of all stakeholders, one that puts as much emphasis on culinary insight, taste, and flavor as on the scientific and public health imperatives. 1. Downsize your portions: ... |
rule of thumb is that the more calories a meal has, the more sodium it has. Two out of three Americans need to lose weight. So skip the supersize. Share a dish when dining out. You can cut your salt—and trim your waist. Our bodies need more potassium than sodium. But most Americans’ diets are just the opposite, which c... |
pressure. Fruits and vegetables are naturally low in sodium, and many fruits and vegetables are good sources of potassium. Filling your plate with them will boost your potassium and shift the sodium-potassium balance in your favor. And chefs and product developers would do well to think about produce first when designi... |
sodium foods” think of biting into a crunchy apple, juicy orange, or sweet strawberry. Not missing the sodium? 3. Get fresh: Choose unprocessed and minimally processed foods. Processed foods and prepared foods are the greatest sources of sodium in the American diet (75 percent by some estimates). By choosing fresh food... |
meats typically have much more sodium than fresh meats, and canned vegetables usually have more sodium than fresh vegetables. Going easy on processed foods makes sense for general good health, as processing often leads to a loss of nutrients and other benefits of whole or semi-intact foods. 4. Embrace healthy fats and ... |
and no-fat product push in the 1990’s wasn’t rooted in sound science. Many well-meaning product developers cut both the good and bad fats out of formulations, and in order to maintain consumer acceptance of their products, they were forced to increase levels of sugar and sodium. So breathe easy, and skip most fat-free ... |
blood pressure a favor. One more good news tip: Fat in the diet doesn’t make you fat! Extensive research now confirms that low-fat diets are no more effective in weight loss than moderate- to high-fat diets. Rather, it’s all about total calories and energy balance. So embrace healthy fat: It might be just the ticket to... |
recipes that focus on healthy fat, try: 5. Stealth health: The most delicious approach to sodium reduction. For many foods and preparations, the average person can’t detect moderate to substantial differences in sodium levels, including reductions of up to as much as 25 percent. That’s great news. In fact, many food ma... |
making substantial cuts in sodium—some all at once and some over time—that their customers will not be able to detect. 6. Retrain your taste buds: You can learn to savor foods with less salt. Studies have found that we can shift our sense of taste to enjoy foods with lower levels of sodium. One key to success: Make the... |
a period of time, rather than trying to cut back by a large amount all at once (unless of course you find that an immediate 25 percent reduction in sodium doesn’t undermine your enjoyment of a particular food). Try this trick: Combine a reduced sodium version of a favorite product (e.g., vegetable soup) with a regular ... |
sodium version. As time goes on, you won’t miss the salt. 7. Try a little romance: Sea salt and other secrets of the healthy kitchen. Most sea salt has about the same level of sodium as other salts, but who doesn’t perk up with the mention of sea salt? It sounds like your favorite chef has taken charge of your dinner. ... |
entice more people to taste and enjoy reduced sodium dishes. Finally, for those who think “low sodium” is the exact opposite of a compelling, positive message, remember that there is a big difference between well-prepared low-sodium foods and badly executed low-sodium foods. Bad cooking is just bad cooking, independent... |
individual foods are high in sodium, and eat them sparingly. Understand which categories of foods contribute the most sodium to our diets through repeated daily and weekly consumption. Salt is ubiquitous in the American diet, but this top 10 list of food sources of sodium in the U.S. diet is a good place to focus. The ... |
item’s sodium content and the frequency of consumption. (2) Choose carefully when buying foods in these categories and/or eat less of these items: - Meat pizza - White bread - Processed cheese - Hot dogs - Spaghetti with sauce - Cooked rice - White rolls - Flour tortillas 9. Scan the label: Look for foods with less tha... |
Canned, boxed, frozen, and prepared foods can be high in sodium. Check the label for sodium amounts and choose foods that have less than 300 milligrams per serving. But pay attention to serving sizes, as they are often unrealistically small. A good rule of thumb for label reading is to look for no more than one milligr... |
You may be surprised to find foods that are high in sodium but that don’t list “salt” in the ingredients. That’s because there are other forms of sodium used in food processing, and these all contribute to the total amount of sodium listed in the Nutrition Facts. Examples of these ingredients include monosodium glutama... |
compare: Sodium levels vary widely for the same or similar grocery items. Compare brands of processed food, including breads, cured meats, cheeses, snack foods, and other foods, choosing those with the lowest levels of sodium that still taste good. You’ll find that there’s a surprising degree of variation from brand to... |
brand has been treated with a salt solution is to ask the grocer or butcher, or to call the toll-free consumer hotline on the product’s label. Some foods that are high in sodium may not taste especially salty, such as breakfast cereals, bakery muffins, energy drinks, and sports drinks. 12. Scan the menu, speak to your ... |
At the upper end of the spectrum, some chain restaurant and fast-food meals can top 5,000–6,000 milligrams of sodium per serving. It is common to find sandwiches and fast-food entrées with 2,000–2,500 milligrams of sodium per serving—as much as or more than a day’s recommended sodium intake. With foodservice (or food a... |
dollar, both foodservice and food manufacturing—together with consumers and home cooks—need to be part of the solution to the sodium reduction challenge. Some tips for consumers: Sodium levels can vary widely from one dish to another and from one restaurant to another. Check restaurant websites for sodium information b... |
choices for very limited special occasions. Increasingly, chain restaurants are responding to calls for sodium reduction, so watch for news about such initiatives by your favorite restaurant group. 13. Farming for flavor: A new health imperative. We should recognize that the national conversation about salt and sodium ... |
general. For much of the 20th century, our national food and agricultural focus has been on quantity and value—and quality often as a function of consistency, appearance, safety, convenience, and shelf life. If natural flavor sometimes suffered, there was always fat (often saturated fats and trans fats), sugar, and sal... |
at a time when we have “over-delivered” on the promise of affordable calories, and both salt and sugar (and all refined carbohydrates) are turning out to have serious negative health consequences, we need to refocus our attention on enhancing natural flavors. As a practical matter, this means growing more flavorful tom... |
14. Know your seasons, and, even better, your local farmer. Shop for raw ingredients with maximum natural flavor, thereby avoiding the need to add as much (if any) sodium. Seek out peak-of-season produce from farmers’ markets and your local supermarket. One of the easiest ways to reduce the need for added salt is throu... |
herbs, roots (such as garlic and ginger), citrus, vinegars, and wine. From black pepper, cinnamon and turmeric to fresh basil, chile peppers and lemon juice, these flavor enhancers create excitement on the palate—and can do it with less sodium. 16. Go nuts for healthy fats in the kitchen. As chefs and home cooks know, ... |
the right healthy fats—from roasted nuts and avocados to olive, canola, soybean, and other oils—can help make up for any flavor loss from using less salt. Some healthy fats contribute their own flavors (think peanut butter and extra virgin olive oil), while other fats help to juice up flavor in pan searing and frying. ... |
are mushrooms, tomatoes, seaweed, carrots, and Chinese cabbage. Incorporating these foods into meals can add a delicious depth of flavor without adding salt. Some foods that are high in umami are also high in sodium, including soy sauce, fish sauce, aged cheeses, miso, and anchovy paste. The cook’s best strategy: Use t... |
in the dish. Check out these two recipes from the Culinary Institute of America that boost “umami”: Take the time to learn some simple cooking techniques that can make your cooking less reliant on sodium. Searing and sautéing foods in a pan builds flavor (try searing umami-rich mushrooms in a hot pan with oil, and now ... |
out the natural sweetness of many vegetables and the savoriness of fish and chicken. Steaming and microwaving tend to dilute flavors; perk up steamed dishes with a finishing drizzle of flavorful oil and a squeeze of citrus. 19. Wait! Be careful how you spend that sodium budget. Save your “sodium budget” to enhance the ... |
up short without enough tools to enhance the flavors of healthy, everyday cooking. The best intentions to reduce sodium are definitely going to run aground when too many high-sodium ingredients are aggregated in the same dish. Rethink that double bacon cheeseburger or the breakfast special with ham and sausage. Pickles... |
and other condiments and specialty foods all bring added satisfaction to the table. There is no need to give up condiments, which in many cases represent culinary traditions that are centuries old. In some cases, reduced sodium versions of these are now available; in other cases, we can just use them more sparingly. 21... |
Look to global culinary traditions—from Europe and the Mediterranean, Latin America, Asia and Africa—for healthy ideas to transform fruits, vegetables, and other healthy ingredients into exciting flavors and meals. Because many of these world culinary traditions build up flavor in such novel, complex, and intriguing wa... |
or their native countries in higher sodium versions, but the culinary ideas for lower sodium strategies are still there, embedded in traditional cultural approaches to flavor development that go way beyond fat, salt, and sugar (our all-too-frequent default flavor enhancers in the U.S.). Two international recipe suggest... |
unsalted or under-salted foods, especially fresh produce. If you are adding a little cheese to your salad, you don’t need much or any salt in your dressing. If you are adding a ham bone to a soup pot, lighten up on the sodium for the rest of the soup. In a sandwich, try adding sliced cucumber instead of pickles. A pot ... |
or whole grain pasta doesn’t need to be salted if you are serving it with other adequately seasoned items or sauces. And an adequately seasoned crust or condiment may lessen the need for salting the rest of the dish. 23. Rinse, wash, and dilute: You can easily cut some of the excess sodium in processed foods with no lo... |
canned foods can dramatically cut their sodium levels—in the case of canned beans, cooks can cut 40 percent of the sodium with this trick. When making soup, dilute reduced sodium chicken broth with water or wine instead of using it full strength, and float in some additional vegetables and herbs. 24. Whole grains: Beyo... |
it, bread is one of the largest contributors of sodium to our diets. Even whole grain bread, while a healthier choice than white, can contain considerable sodium. But only part of the sodium in bread is for taste: Much of it is used to help the bread-making process and preserve the final results. You can skip that extr... |
whole grains by themselves. Try a Mediterranean-inspired whole grain salad with chopped vegetables, nuts, and legumes, perhaps a small amount of cheese, herbs and spices, and healthy oils and vinegar or citrus. You can enjoy many of the same flavors you love in a sandwich, but in a delicious new form that has much less... |
or other intact whole grains with a generous amount of fresh or dried fruit, and you can skip the toast (and the extra sodium). 25. Kick the “auto-salt” habit: Taste before you salt. Too many of us have the habit of reaching for the salt shaker as soon as our plates are put in front of us. Try taking the salt shaker of... |
table and making it available “upon request only.” Always, always taste your food before you salt: Maybe you don’t need the extra sodium. And in the kitchen, add salt late in the cooking process. Foods release their flavors (and salt, in the case of salted ingredients) during the cooking process, and “palate fatigue” o... |
is undertaken too early. Given how vital sodium reduction is, and how embedded sodium is in our food supply, culinary techniques, flavor strategies, manufacturing methods, and marketing assumptions, it is essential that we conduct additional research to shed more light on which sodium reduction strategies are most effe... |
easily isolated and replaced in the food supply. In addition to food science and engineering fixes to the high-sodium problem, we need to engage chefs, menu developers, consumer opinion researchers, and a wide range of flavor experts in developing and pursuing key research questions. With the benefit of this research, ... |
consumers find not just acceptable, but compelling. 1. Institute of Medicine.. April 20, 2010. 2. Grocery Manufacturers Association.. Washington, D.C., 2008. © The President and Fellows of Harvard College and The Culinary Institute of America |
American PoetryIf we define poetry as the heart of man expressed in beautiful language, we shall not say that we have no national poetry. True, America has produced no Shakespeare and no Milton, but we have an inheritance in all English literature; and many poets in America have followed in the footsteps of their liter... |
severe. It was warfare, and manual labor of a most exhausting type, and loneliness, and devotion to a strict sense of duty. It was a life in which pleasure was given the least place and duty the greatest. Our Puritan ancestors thought music and poetry dangerous, if not actually sinful, because they made men think of th... |
of heaven. When Anne Bradstreet wrote our first known American poems, she was expressing English thought; "The tenth muse" was not animated by the life around her, but was living in a dream of the land she had left behind; her poems are faint echoes of the poetry of England. After time had identified her with life in t... |
world, she wrote "Contemplations," in which her English nightingales are changed to crickets and her English gilli-flowers to American blackberry vines. The truly representative poetry of colonial times is Michael Wigglesworth's "Day of Doom. This is the real heart of the Puritan, his conscience, in imperfect rhyme. It... |
of beautiful style that both elements are necessary to produce real poetry. Philip Freneau was the first American who sought to express his life in poetry. The test of beauty of language again excludes from real poetry some of his expressions and leaves us a few beautiful lyrics, such as "The Wild Honeysuckle," in whic... |
of American nature. With them American poetry may be said to begin. The first historical event of national importance was the American Revolution. Amid the bitter years of want, of suffering, and of war; few men tried to write anything beautiful. Life was harsh and stirring and this note was echoed in all the literatur... |
narrative and political poetry, such as "The Battle of the Kegs" and "A Fable," dealing almost entirely with events and aiming to arouse military ardor. In "The Ballad of Nathan Hale," the musical expression of bravery, pride, and sympathy raises the poem so far above the rhymes of their period that it will long endure... |
expression of the Revolutionary period. Poetry was still a thing of the moment, an avocation, not dignified by receiving the best of a man. With William Cullen Bryant came a change. He told our nation that in the new world as well as in the old some men should live for the beautiful. Everything in nature spoke to him i... |
terms of human life. Other poets saw the re1ation between their own lives and the life of the flowers and the birds, but Bryant constantly expressed this relationship. The concluding stanza of "To a Waterfowl" is the most perfect example of this characteristic, but it underlies also the whole thought of his youthful po... |
we could all read the lives of our gentians and bobolinks as he did, there would be more true poetry in America. Modern thinkers urge us to step outside of ourselves into the lives of others and by our imagination to share their emotions; this is no new ambition in America; since Bryant in "The Crowded Street" analyzes... |
in the faces he sees. Until the early part of the nineteenth century American poetry dealt mainly with the facts of history and the description of nature. A new element of fancy is prominent in Joseph Rodman Drake's "The Culprit Fay." It dances through a long narrative with the delicacy of the fay himself. Edgar Allan ... |
poetry somber sentiment and musical expression. Puritan poetry was somber, but it was almost devoid of sentiment. Poe loved sad beauty and meditated on the sad things in life. Many of his poems lament the loss of some fair one. "To Helen," "Annabel Lee" "Lenore," and "To One In Paradise" have the theme, while in "The R... |
seeking solace for the loss of Lenore. "Eulalie--A Song" rises, on the other hand to intense happiness. With Poe the sound by which his idea was expressed was as important as the thought itself. He knew how to make the sound suit the thought, as in "The Raven" and "The Bells." One who understands no English can grasp t... |
of the different sections from the mere sound, so clearly distinguishable are the clashing of the brass and the tolling of the iron bells. If we return to our definition of poetry as an expression of the heart of a man, we shall find the explanation of these peculiarities: Poe was a man of moods and possessed the abili... |
express these moods in appropriate The contrast between the emotion of Poe and the calm spirit of the man who followed him is very great. In Henry Wadsworth Longfellow American poetry reached high-water mark. Lacadio Hearn in his "Interpretations of Literature" says: "Really I believe that it is a very good test of any... |
to ask him, `Did you like Longfellow when you were a boy?' If he says `No,' then it is no use to talk to him on the subject of poetry at all, however much he might be able to tell you about quantities and metres." No American has in equal degree won the name of "household poet." If this term |
is correctly understood, it sums up his merits more succinctly than can any other Longfellow dealt largely with men and women and the emotions common to us all. Hiawatha conquering the deer and bison, and hunting in despair for food where only snow and ice abound; Evangeline faithful to her father and her lover, and re... |
hospitals of a new world; John Alden fighting the battle between love and duty; Robert of Sicily learning the lesson of humility; Sir Federigo offering his last possession to the woman he loved; Paul Revere serving his country in time of need; the monk proving that only a sense of duty done can bring happiness: all the... |
the emotions which we know are true in our own lives. In his longer narrative poems he makes the legends of Puritan life real to us; he takes English folk-lore and makes us see Othere talking to Arthur, and the Viking stealing his bride. His short poems are even better known than his longer narratives. In them he expre... |
gentle, sincere love of the young, the suffering, and the sorrowful. In the Sonnets he showed; that deep appreciation of European literature which made noteworthy his teaching at Harvard and his He believed that he was assigned a definite task in the world which he described as follows in his last poem: "As comes the s... |
foam to the surge; So come to the Poet his songs, All hitherward blown From the misty realm, that belongs To the vast unknown. His, and not his, are the lays He sings; and their fame Is his, and not his; and the praise And the pride of a name. For voices pursue him by day And haunt him by |
night, And he listens and needs must obey, When the Angel says: 'Write!' John Greenleaf Whittier seems to suffer by coming in such close proximity to Longfellow. Genuine he was, but his spirit was less buoyant than Longfellow's and he touches our hearts less. Most of his early poems were devoted to a current political ... |
converts to the cause of anti-slavery. Such poems always suffer in time in comparison with the song of a man who sings because "the heart is so full that a drop overfills it." Whittier's later poems belong more to this class and some of them speak to-day to our emotions as well as to our intellects. "The Hero" moves us |
with a desire to serve mankind, and the stirring tone of "Barbara Frietchie" arouses our patriotism by its picture of the same type of bravery. In similar vein is "Barclay of Ury," which must have touched deeply the heart of the Quaker poet. "The Pipes of Lucknow" is dramatic in its intense grasp of a climactic hour an... |
of its force in the expression. We can actually hear the skirl of the bagpipes. Whittier knew the artists of the world and talked to us about Raphael and Burns with clear-sighted, affectionate interest. His poems show varied characteristics; the love of the sterner aspects of nature, modified by the appreciation of the... |
tinged with sympathy for the sorrowful; the steadfastness of the Quaker, stirred by the fire of the patriot. The poetry of Ralph Waldo Emerson is marked by serious contemplation rather than by warmth of emotional expression. In Longfellow the appeal is constantly to a heart which is not disassociated from a brain; in E... |
intellect alone. We recognize the force of the lesson in "The Titmouse," even if it leaves us less devoted citizens than does "The Hero" and less capable women than does "Evangeline." He reaches his highest excellence when he makes us feel as well as understand a lesson, as in "The Concord Hymn" and "Forbearance." If w... |
the tablets of our hearts that single stanza, forbearance would be a real factor in life. And it is to this poet whom we call unemotional that we owe this inspiring quatrain: "So nigh is grandeur to our dust, So near is God to man, When duty whispers low, Thou must, The youth replies, I can!" James Russell Lowell was |
animated by a well-defined purpose which he described in the following lines: "It may be glorious to write Thoughts that make glad the two or three High souls like those far stars that come in sight Once in a century. But better far it is to speak One simple word which, now and then Shall waken their free nature in |
the weak And friendless sons of men. To write some earnest verse or line Which, seeking not the praise of art, Shall make a clearer faith and manhood shine In the untutored heart." His very accomplishments made it difficult for him to reach this aim, since his poetry does not move "the untutored heart" so readily as do... |
Longfellow or Whittier. It is, on the whole, too deeply burdened with learning and too individual in expression to fulfil his highest desire. Of his early poems the most generally known is probably "The Vision of Sir Launfal," in which a strong moral purpose is combined with lines of beautiful nature description: "And ... |
in June? Then, if ever, come perfect days. Two works by which he will be permanently remembered show a deeper and more effective Lowell. "The Biglow Papers" are the most successful of all the American poems which attempt to improve conditions by means of humor. Although they refer in the main to the situation at the ti... |
War, they deal with such universal political traits that they may be applied to almost any age. They are written in a Yankee dialect which, it is asserted, was never spoken, but which enhances the humor, as in "What Mr. Robinson Thinks." Lowell's tribute to Lincoln occurs in the Ode which he wrote to commemorate the Ha... |
in the Civil War. After dwelling on the search for truth which should be the aim of every college student, he turns to the delineation of Lincoln's character in a eulogy of great beauty. Clear in analysis, far- sighted in judgment, and loving in sentiment, he expresses that opinion of Lincoln which has become a part of... |
American thought. His is no hurried judgment, but the calm statement of opinion which is to-day accepted by the world: "They all are gone, and, standing like a tower, Our children shall behold his fame, The kindly-earnest, brave, foreseeing man, Sagacious, patient, dreading, praise, not blame, Now birth of our new soil... |
the last of this brief American list of honor. No other American has so combined delicacy with the New England humor. We should be poorer by many a smile without "My Aunt" and "The Deacon's Masterpiece." But this is not his entire gift. "The Chambered Nautilus" strikes the chord of noble sentiment sounded in the last s... |
it will continue to sing in our hearts "As the swift seasons roll." There is in his poems the smile and the sigh of the well- "And if I should live to be The last leaf upon the tree In the Spring. Let them smile; as I do now; As the old forsaken bough Where I cling." And is this |
all? Around these few names does all the fragrance of American poetry hover? In the hurry, prosperity, and luxury of modern life is the care if the flower of poetry lost? Surely not. The last half of the nineteenth century and the beginning of the twentieth have brought many beautiful flowers of poetry and hints of mor... |
has sung of the life of the south he loved; Whitman and Miller have stirred us with enthusiasm for the progress of the nation; Field and Riley have made us laugh and cry in sympathy; Aldrich, Sill, Van Dyke, Burroughs, and Thoreau have shared with us their hoard of beauty. Among the present generation may there appear ... |
The Matter at Issue: The Throne of France The Hundred Years War was fought largely over who would be the king of France. The English kings, who had originally been French nobles that invaded and conquered England in 1066, still held lands in France. The English lands in France had long been viewed uncomfortably by the ... |
kings had reclaimed French lands held by the English kings. By the early 14th century, three events came together. First, the English kings noted that one more push by the French would deive the English completely out of France. Second, the French were entering a period of weak kings. Third, the English throne was now ... |
lived Edward III. In any other circumstances it would appear absurd for the English king to come up with the idea of claiming the French throne in order to protect English lands in France. But Edward III was bold and, in one of those uniquely Medieval ironies, he had law and custom on his side. The English claim to the... |
as were the English armies and Edward IIIs resolve. The resulting war outlived Edward, and his great grandson, Henry V, came within a hair of actually taking the French throne. The items below explain the situation in rather more detail. Historical Kings of France Historical Kings of England The English Position of the... |
And as good as today's beginning stages of deflation may feel, especially when filling up at a service station or shopping for a house, economists warn that there is a high price to pay down the road and that current monetary policy is only raising that price. Of course, not all price reductions are created equal. A pr... |
stems primarily from an increase in technological efficiency is not deflation; it's progress. Deflation is a fall in prices that stems from a shrinking money supply, just as inflation is a price hike that stems from an increase in the supply of money. Deflation ramps up when people borrow to make a big purchase on the ... |
are buying will be worth more later. But if prices fall, the loan will have to be repaid in dollars that are worth more than the dollars they borrowed, making the debt more onerous. As a result, when people expect falling prices, they become less willing to spend, and in particular less willing to borrow. And when that... |
economy may stay depressed because people expect deflation, and deflation may continue because the economy remains depressed. It's a nasty cycle and it can often be traced back to the central bank's balance sheet expansion. Deflation is the one thing that a leveraged economy can't handle, said Steve Blitz, chief econom... |
economy is potentially ruinous. The idea that every time the stock markets have some kind of a hiccup and they [the Fed policymakers] need to rush in with some sort of quantitative ease is a dangerous road for them to go on. Deflation is always a risk if you engage in a policy of inflation, said Albert Lu, managing dir... |
and chief portfolio manager of WB Advisors. The problem with the addiction to money-printing is that it can't stop without dire -- albeit in the long-term healthy -- short-term economic consequences, he said. To jump-start the economy, the central bank would increase the money supply and bank credit to support certain ... |
the dot-com bubble of 1995-2000 burst. The problem is that once the Fed stops the infusion of additional credit and money, deflation rapidly takes hold. It then takes an ever-increasing amount of new money creation to achieve a temporary suppression of deflation's symptoms. Inflation-sustained projects are unsustainabl... |
demand. Take the government's determination to promote home ownership. That public policy was advanced with easy money, especially during Alan Greenspan's leadership of the Fed, compulsory lending to unqualified borrowers and Fannie Mae and Freddie Mac buying tranches of subprime mortgages. Home ownership boomed. And t... |
latest data available), ending the first quarter at the lowest levels since the housing crisis began in mid-2006, according to Standard & Poor's Case-Shiller home-price indexes. Prices are down roughly 35 percent from their peak in the second quarter of 2006. Essentially, as soon as the government stops the expansion, ... |
with all of the nasty business cycles that accompany it, Lu said. And often how the government reacts to that is with additional stimulus. For a third year in a row, the U.S. is seeing an economic slowdown and in response, policymakers could be unveiling policy sequels such as: Fiscal Stimulus 4, Operation Twist 2 or Q... |
are basically keeping the thing going by continuously adding money and credit, Lu said. This is just delaying the correction we need. We've been prolonging the agony, and the final correction will be much worse than it had to be, Lu said. Let Them Fail The depression of 1920-21 shows why the Fed should sit on its colle... |
their June Federal Open Market Committee meeting. From the spring of 1920 to the summer of 1921, nominal gross domestic product fell by 23.9 percent, wholesale prices by 40.8 percent and the consumer price index dropped by 8.3 percent. Meanwhile, unemployment topped out at about 14 percent from a pre-bust level of as l... |
administration of Warren G. Harding balanced the budget and the Fed tightened money supply, pushing up short-term rates in mid-depression to as high as 8.13 percent. Harding also decided to let the ailing businesses fail. Then something wonderful happened: The economy purged itself and by 1923, the nation's unemploymen... |
no rock-bottom interest rates, no QE, no stimulus of any kind. Yet the depression ended. We actually need a deflation. Believe it or not, it's actually healthy, Lu said. However painful it is, deflation is the natural consequence of prior inflation and is a necessary step in the economic recovery. Trying to avoid it th... |
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