The American Revival -Learn to Earn_ A Beginner’s Guide to the Basics of Investing and Business.
As horrible as it was for civilization in general, World War II brought the U.S. economy back to life. Soon after the GIs came home, the suburbs opened up in the countryside around the cities. People were buying cars, houses, refrigerators, washing machines, electrically powered vacuum cleaners, and other labor-saving devices at a rapid rate. What machines did for the farm in the nineteenth century, they did for the house in the twentieth.
With every new discovery, every time-saving appliance, every innovation and product that saved toil and trouble, there were traditionalists who sat back, scoffed, and bemoaned the passing of the simpler existence when meals were home-cooked, and motels were owned by moms and pops, and life was more natural, but they were swimming against a great tide of progress, because people knew a good thing when they saw it. Housewives preferred the vacuum cleaner to the simplicity of the broom, and the washing machine to the simplicity of the churn tub, and the processed foods to slaving over a hot stove. On the road, families looked forward to staying in the chain motel and eating at the chain restaurant, because there they knew what they were getting. Kids were excited to see a Howard Johnson’s, a Holiday Inn, or a Golden Arch.
The postwar period was a busy one for public companies, with hundreds of new ones formed every year, but the vast majority of Americans avoided stocks. People remembered the Crash of 1929 and were determined not to risk their life savings in the market, at the very time shares of great companies were selling at bargain prices. The brave minority that bought stocks was well-rewarded.