Don’t Know What You’ve Got Until it’s Gone

Good headlines. Enjoy 'em while you got 'em. Because unfortunately they do not last.

Just ask Donald Rumsfeld. There was a time he was a media rock star. His press conferences were legendary. His reputation even more so. That was when the Iraq war was going well. Then it wasn't. Then he wasn't. Then he resigned. Happens all the time.

Two years ago Republicans were feeling pretty cocky, a president re-elected, a House and Senate secure. They got arrogant. Then, they got walloped.

Just like Democrats got arrogant in 1974, when they rode an anti-Republican Watergate-dominated mid-term election wave that two years later produced a Democratic president... Only to lose it all in 1980 to something called a Reagan revolution.

Twenty years later Republicans were feeling pretty cocky, convinced that their takeover of the House had all but madeBill Clinton a one-termer. It hadn't.

I guess nothing shocking or profound here, save this:

Take life as a series of snapshots. A flash in time. That changes...all the time. In the moment, at the moment, we in the media record them as great seismic events. Until they're not. And the only debate is who's the greater fool...the folks who thought the good headlines would last forever...or the folks who wrote ‘em?

Click here to order your signed copy of Neil's book, "Your Money or Your Life."

Watch Neil Cavuto weekdays at 4 p.m. ET on "Your World with Cavuto" and send your comments to

Neil Cavuto serves as senior vice president, anchor and managing editor for both FOX News Channel (FNC) and FOX Business Network (FBN). He is anchor of FNC's Your World with Cavuto - the number one rated cable news program for the 4 p.m. timeslot - as well as the FNC Saturday show Cavuto on Business. He also hosts Cavuto on FBN weeknights at 8 p.m. In addition to anchoring daily programs and breaking news specials on FNC and FBN, Cavuto oversees business news content for both networks and FNC's weekend business shows, including Bulls & Bears, Forbes on Fox, and Cashin' In. Click here for more on Neil Cavuto.