No doubt that's what the folks at the buggy whip works thought just before Oakman and Hertel created an entry in a road race, and the people celebrating the beginning of a public work known today as the Chesapeake and Ohio Canal had no cause to worry about a cornerstone laying the very same day in Baltimore of something called a railroad.
It’s easy to get down on the market. Almost all of the “news” is negative. Longing for its disaster, cable TV is stuck in neutral on the subject of the economy and its newscasters, drive-by pundits and instant economists are only too willing to bombard us with their minute-by-minute analysis on red-arrow numbers.
But if we could just take a breath and stop the madness for a moment, we might see something else. This is an intriguing time for buyers and bargain-hunters, alike.
It takes courage to cut against the grain, and there is no certainty that stock prices have hit bottom. Well before it became our happy-o-meter, the market was an indicator of our confidence in America.
Surely, companies such as and like GE, GM and the [New York] Times have positive futures ahead.
It is foolish to imagine an America in which people are not imagining ways to make do without GE appliances, Cadillacs, or all the news that's fit to print. That talk out of Warren Buffett about even better days ahead: it's betting on those imaginations being made real.
It’s foolish to imagine an America without GE appliances, Cadillacs or all the news that is fit to print.
So let’s not.
Some thirty years ago, there was a television show calling the roll of monster businesses of previous industrial epochs, now gone. It included National Lead and Baldwin Locomotive. I want to say it was on PBS, and that Ben Wattenberg narrated it. Does anybody really miss lead paint, or cinders on the wash?