Perspectives Matter

I have been doing some a lot of reading lately about gold and one of the articles I stumbled upon opened with this 1952 story of Mississippi House of Representatives member Noah S. “Soggy” Sweat, Jr.’s position on whiskey.

I share it here for your entertainment:

If you mean whiskey, the devil’s brew, the poison scourge, the bloody monster that defiles innocence, dethrones reason, destroys the home, creates misery and poverty, yea, literally takes the bread from the mouths of little children; if you mean that evil drink that topples Christian men and women from the pinnacles of righteous and gracious living into the bottomless pit of degradation, shame, despair, helplessness, and hopelessness, then, my friend, I am opposed to it with every fiber of my being.

However, if by whiskey you mean the oil of conversation, the philosophic wine, the elixir of life, the ale that is consumed when good fellows get together, that puts a song in their hearts and the warm glow of contentment in their eyes; if you mean Christmas cheer, the stimulating sip that puts a little spring in the step of an elderly gentleman on a frosty morning; if you mean that drink that enables man to magnify his joy, and to forget life’s great tragedies and heartbreaks and sorrow; if you mean that drink the sale of which pours into our treasuries untold millions of dollars each year, that provides tender care for our little crippled children, our blind, our deaf, our dumb, our pitifully aged and infirm, to build the finest highways, hospitals, universities, and community colleges in this nation, then my friend, I am absolutely, unequivocally in favor of it.

This is my position, and as always, I refuse to compromise on matters of principle. 

If you know me, you know that one of my favorite phrases is “nobody is the villain in his own play,” and this quote demonstrates fairly well one of the cognitive tricks people use to justify their own particular view at any given time.

The original article that I pulled the quote from is from a memo by Oaktree Capital’s chairman, Howard Marks. It can be found here, although you might not want to spend your time reading the whole thing as I didn’t think the rest of the memo was especially enlightening.

FWIW, if you want to read a memo from Marks that I did find enlightening, try this one.

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