Now I see why in the Bible usury was prohibited. Widespread usury in Israel would lead to the development of a permanent underclass – and a permanent underclass often presents a weak spot in an otherwise strong country. A weak spot that any willing enemy can exploit.

Keeping a private army to defend one’s own person and property does cost an arm and a leg, especially when one must defend against enemies that become increasingly sophisticated in their tactics by the day.

And, yes, corporations and other such entities that rely on the government for important services (e.g., upkeep of public infrastructure, public education) should either pay the requisite tax or do it themselves. Either that or everyone gets a 5% tax rate and the government must be efficient when spending it.

For government to level the playing field by taxing the rich and handing the wealth to the poor is a naïve move. One of the good things about America is that people are free to pull themselves up by their own bootstraps and end up being miles above everyone else – at least in terms of wealth. This accords with the human impulse of desire for invididual recognition; safety nets in a capitalist economy may be often lacking, but the potential to make it to the top and be praised for it is always there. In a socialist state, there is not much incentive for oustanding achievement, only obedience. So it’s no wonder that in the economies of such states innovation is often lacking.

Of course you can still send your feedback to me at gary@whiskeyandgunpowder.com.

Speaking of feedback…here’s some from right next door in Virginia…

“Gary – I enjoyed the article on ‘Economic Cycles’ today. It looked at the picture from a different angle. It should be clear to everyone that if the masses are selling their toys today they will not be buying new ones tomorrow. Of course if they are not buying then there is no need to manufacture and the issues will grow into the bigger problems we will face in the future. Something you have talked about for a while. As noted, the bright side is that it is a perfect time to buy if you have the reserves – though I think a good 4X4 might be a better choice than a Jaguar.

“On a separate issue I was rather shocked at the negative email a few days back – but have been rather pleased at the responses you have posted since. I believe the negative and derogatory nature of the comments should not surprise your readers. As we know, people will lash out when threatened and many people are definitely feeling threatened in these times. There will be no surprises when the uneducated masses start looking for the boogey man. The less educated have historically blamed someone a little closer to home for their problems, be it a Jew, a Black man, an Irish man or an Indian – how far back should we go. While the mobs burning down the mansions is one scenario, burning the neighborhood stores is more likely. Make sure that 4X4 is stocked with food and supplies!

“Thanks for the information you share.”

From the “Show-Me” State comes a message for Linda Brady Traynham:

“Thank you, Linda. That was quite an interesting read. We Shooters need more of you. Come back more often.”

And an opinion on both Linda Brady Traynham and James Howard Kunstler…

“I love the way this lady writes. Who is she? How about some background? And as far as Mr. Kunstler is concerned – it’s true his vision may be too severe but I’d rather err on the side of being over-prepared for bad times than be caught dependent on the government to save me when mobs roam the streets and the grocery stores are empty. And his writing style is so delightfully irreverent it never fails to amuse. Ammunition and heritage seed, the currencies of the new millennium.”

Linda is a superb writer who had been living La Vida Whiskey long before there was a Whiskey Bar. We’re lucky she found us.

And of course I agree with you on Mr. Kunstler. His books quite literally changed the course of my life. He’s also the one who introduced me to Agora Financial. Without him — and this is no exaggeration — I likely would never have had the pleasure of being your Whiskey editor.

Just a reminder before I go: Both Dan Denning and James Howard Kunstler will be joining us at Agora Financial’s annual symposium in Vancouver. This year we’ll be celebrating ten years of our flagship newsletter The Daily Reckoning.

Both Dan and Jim will be doing their own presentations, but they’ve also been invited to attend the Whiskey Bar panel.

There will some fine booze, too. This is a bar after all.

We hope you’ll join us.

We’ll meet again Monday. Enjoy your weekend.

Regards,
Gary Gibson
Managing Editor, Whiskey & Gunpowder