Bill Bonner writes in the Daily Reckoning about the Depression effect on vices, which seems to follow Gerson's earlier report on the rediscovery of virtue:
Even vice is getting gripped by the downturn. Yes, first we get a report that Playboy Magazine is taking such losses that it may be forced to sell out.
Then, a report circulates that the bordellos of Las Vegas have fallen on soft times. The truckers and tourists who used to frequent them no longer have the dough. The poor girls just sit around...waiting for the phone to ring.
And now cometh from England news that cocaine has fallen in price. It's now cheaper than beer, says the Telegraph. Either the supply has increased, or the demand has fallen; we don't know which. "What's the world coming to when cocaine is cheaper than beer or wine," writes a friend. "Looks like we'll have to change our vices, to economize..."
But here at The Daily Reckoning, we remain loyal to the old-fashioned vices. We're not going to give up alcohol just because it's become more expensive than hard drugs. We'll stick to booze, thank you. Besides, a man who isn't faithful to his vices is prey to every bad habit that comes along. You can't trust him.