Danielle Park is a Canadian money manger who was an attendee at the conference:

Source:
Bernanke Freaks Out About Obama’s Spending and Debt Plans
Henry Blodget
Yahoo Tech Ticker Jun 04, 2009 04:17pm EDT

http://finance.yahoo.com/tech-ticker/article/259145/Bernanke-Freaks-Out-About-Obama%27s-Spending-and-Debt-Plans

Category: Federal Reserve, Video

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “Danielle Park: Bernanke’s HyperInflation Quandry”

  1. ironman says:

    That’s why Obama’s deficits today are best thought of as generation theft.

    If we’re right (see the link for the tool and numbers behind it), we can expect the maximum personal income tax rate will be increased from 35% today to 70% by 2010 or no later than 2011. This rate could be lowered to 65-66% in the longer term, provided economic growth follows what the trustees of Social Security have forecast. If not, then expect higher tax rates.

    Alternatively, the government could keep income tax rates lower than that 70% level by imposing other taxes aimed more at those earning between $20,000 and $70,000 (that’s the income range where most of the money is in the U.S.).

    I should also point out that the figures Blodget quotes Bernanke saying in his article don’t appear to include intergovernmental transfers (debt held by Social Security’s OASDI trust fund, etc.) With those taken into account, the projected debt-to-income ratio for 2009 will be around 96.5% in 2011, not the 70% figure Bernanke cites. So, yes, the total outstanding debt picture is somewhat bigger than he’s presenting.

    ~~~~

    BR: I am compelled to point out that we are coming off of an 8 year period of horrific spending, unfunded tax cuts, and flipping a surplus into a deficit.

    This is why I aman independent — the GOP is as bad, if not worse, than the DEMs. Choose your poison: Tax Cut & Spend, or Tax & Spend.

  2. ironman says:

    BR: You’ll enjoy this then – there’s a fund that puts its money in the S&P 500 only when the U.S. Congress is out of session. Historically, the strategy would have produced some pretty amazing returns, and since the fund has existed, it’s outperformed the major indices by a wide margin (although that’s just means it’s lost a lot less money by comparison).