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Come bull market or bear market man demands mobility. To this end he takes the train, jets to and fro but, most of all he rides his own piece of status symbol mobility—the automobile — bringing in his wake some sorrow, great pleasure and a priceless corner‐stone to the Free World economy, unbelievable riches to once nomad Arabs scratching for water and a life‐saving dole to the less fortunate, disabled, idle and the stupid. Man, in his progress through this life, might continue to smoke inferior tobacco, eat the blandest of fast food, drink Chinese rice wine and hesitate to invest in antiques, but he always purchases the automobile he can afford. Indeed, in his need for something better, he quite often places himself in pernicious hock—there is a measure of Mr Toad in all of us.

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