Trump went big with a stimulus plan today, calling for over a trillion in spending, including $1,000 for everybody.
Economist Jim Miller says:
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My vague recollection is that most famous old airlines have gone bankrupt at least once over the course of my life, but life goes on enough that I can barely remember it other than the lesson I learned is not to worry much about it.
Lots of other glamorous old airlines went out of business, such as Pan-Am and TWA. I can recall thinking as a kid that Harvard and Yale were the Pan-Am and TWA of colleges. But they’re still here and Pan-Am and TWA are not.
Other airlines have vanished almost completely from memory. I can recall going to O’Hare in the 1980s for a flight I’d gotten a good deal on the month before. But I couldn’t find the fairly new airline’s ticket counter. Finally somebody told me they’d gone out of business the week before. I can’t remember the name of the airline. This is, I realize, an extremely boring anecdote, but that my point: Somehow, the Earth kept spinning on its axis.
