Sunday, September 21, 2008

Reblog: Rules for the Splurge

Loved this Fred Wilson post about rules that should be in place for the Splurge (the $700B + Bailout). Please check out the column, quick good read.

I was discussing the Splurge with my friend Matt Belloni and he distilled it quit nicely: "the same people who were repeatedly saying everything was fine 6 months ago are now telling us that if we don't approve a Trillion $'s of bailout money in 4 days, that there will be dire consequences."

Matt and I were talking and it seems like every decision made in our country these days is made under the backdrop of fear. It's a terrible way to make decisions. Just wondering if anyone is thinking about what the increase in taxes will do to consumer spending? If you run a retail boutique, a breakfast restaurant, sports apparel company, or are a feature film actor -- is this bailout and accompanying rise in taxes (and inflation most likely) really what you want?