Thanks for the great article. I WAS a little disconcerted to learn you at Agora are not allowed to invest in what you recommend, which makes no sense at all. I’d a lot rather know where you put your own money! LBT

Gary, m’dear, nice quotes from readers, although as tired as I am I’m not sure why they ended up at the bottom of Jim’s nice piece. Bandits at ten o’clock, back to the attack of the e-mails. Hugs, Linda

“Hi Gary,

“Just finished reading the response from the older reader born and raised in Irvington, and I find it amazing that he hasn’t learned to listen to the message. He’s way too focused on the messenger’s delivery.

“I’m not particularly fazed about the choice of your language; what matters to me is that I can understand the gist of your message, and it is a message that I’m getting loud and clear. When the faeces hit the fans in volumes, the least of our worries is the choice of niceties we use to communicate. Clear, concise language and imagery that invokes the truth of the message is all that is important, and if that occasionally contains colloquialisms or profanity to enhance the message, all the better. In particular, Mr. Kunstler has a very real way of communicating his concern through his writing (I’ve read his books), and he was even genuine enough to communicate with me about my fears of what the world faces, which I learned about whilst reading ‘The Long Emergency’.

“The importance of the events now occurring, and those very likely to occur, has encouraged me to learn as much as I can. In taking this path of finding the truth I can attest to the fact the truth is very often vulgar and brutal. But it is the truth, and I can work with that.

“Ignore those who choose to listen to the way you say things as opposed to what you are saying; they are missing the point entirely. Keep up the honesty. Complaints come easier than the compliments, but rest assured, there are many of us out here who thoroughly enjoy your missives. And when you get the complaints, you are very probably getting very close to the truth.

“Well done!”

And this one…

“Gary -

“The [reader] who complained about Kunstler’s language, et cetera, should have received a lot more opprobrium than you seemed to be willing to give, so let me say it: what a racist a**hole.

“People like him are just pathetic. He can be offended by my language, but I am offended by his stupidity.

“Keep shootin’. ”

And another…

“Hey Gary,

“I’m not sure which article the angry guy from Irving, NJ was referring to, but I have to say that of all the little ditties that I read on a daily basis. Whiskey & Gunpowder is the BEST.

“I am a socially and fiscally conservative soldier stationed in Europe…a student of politics and history. I am also becoming more of a student of economics and how it all ties in together. I thank you and the rest of the ‘Bar’ for what you produce. I usually find myself saying…”damn right”… out loud while I’m reading your articles.”

Thanks for the good word, all of you. We’re truly glad to have you at the bar.

Now…about trusting fund managers and the government…

“Gary,

“After reading your opinion about 401 k accts [I wonder] what is your opinion on the availability for IRA accounts?”

Good question. I’ll answer that in a moment, but first this reader believes I got it all wrong…

“You don’t differentiate — however, in Congress’ zeal TO “GET TAX UP FRONT ON 401K DEPOSITS.” I would suspect that Roth 401k deposits actually could be withdrawn (once you pass age 59 and a half) any time you want.

“The company match is a different story. And when your company matches at 72% on the first 12% of your income, that sum builds up fast, also.

“Your suggestion to ‘avoid 401k completely’ is stupid. What we need is a little assurance that Obama and Pelosi cannot “blend 401k and all other retirement plans into Social Security. Because if they can do that, they also can do damn near the same thing with your brokerage account.

“The Roth is looking better all the time…”

I’m tempted to file this one under “missing my point entirely”…

Having to wait till you are pushing sixty does not count as “any time you want.”

And that enormous company match will be just enough to pay the tax on the whole kitty when you withdraw it…unless of course you withdraw it very, very slowly and avoid sending yourself into higher tax brackets.

So if you do everything juuuust right, then maybe this 401(k) thing will work out for you…like suburban living and excess consumption did for the baby boomers…still doesn’t make it a good idea.

While you’re at it, maybe you get a mortgage and have a couple of kids for the tax benefit and your benevolent Uncle Sam’s pat on the head.

That adults would agree to such hegemon over their finances mystifies me.

Further it’s become abundantly clear that funds you willingly place in these instruments are much more susceptible to being withheld from you than, say, the stuff you put in a savings account in hopes that Obama doesn’t declare a bank holiday.

My advice to avoid the 401(k) — and by extension the IRA — is like my advice to avoid getting in cars driven by strange men who aggressively offer you candy and a ride. Take that for what it’s worth.

Here’s a Shooter who hits the mark…

“Only one thing in error on the tar pit article: Your buddy made the statement that “after all, it is my money.”

“Wrong, any and all government tax-sheltered plans are the property of the government. And always have been. It’s just now, where every possible method of directing/pushing money towards the stock market has been utilized and the amounts have become so large, that true ownership of the assets is being asserted.

“I accepted that once I realized it and was ‘deep in the system.’ Most people that I spoke to about it thought I was exaggerating, at the least.

“Soon, with the stroke of an Executive Order pen, any and all assets can be/will be ‘locked up’ for ‘the good of the nation.’

“Unfortunately, most do not realize what time it is, or what freedom is.

“Lastly, I do not personally care if you are black, white, purple, or green. All I care about is your value system and your conduct. Shame on that fellow from NJ.

“Thanks for trying to define what freedom is and what it isn’t.”

Happy to oblige. Thanks for writing.

Regards,
Gary Gibson
Managing Editor, Whiskey & Gunpowder