there is a luxury in admitting my extremity???
I may perhaps mention here that very recently I had come an ugly cropper2 in certain business enterprises. At the present moment, surrounded by all the circumstances of wealth, there is a luxury in admitting my extremity. I can even admit that to a certain extent my disasters were conceivably of my own making. It may be there are directions in which I have some capacity; the conduct of business operations is not among these. But in those days I was young, and my youth, among other objectionable forms, took that of a pride in my capacity for affairs.
I would like to know what does "there is a luxury in admitting my extremity" here mean. Thanks.