I never realized just how many people dont have emergency funds

Not everyone wants to own a house, nothing wrong with that. They are already in thier 50’s maybe they enjoy the “stress freeness” off it. Who really wants to go get a 30 yr mortgage at 50?

Same situation you would have to hope the banks are are nice too. They might have a shit load saved up ‍♂

Steady bragging about how much your wife makes all the time at work? "She drive an Infiniti!" "I got 10k saved up".

All that bragging yet throwing the money away on a lil box you'll never own and they'll never stop hitting you for monthly? 50 ain't even old. Use that money he bragging about and pay off the mortgage early.

Don't forget they feel safe living around white folks. They'll always have that :rolleyes2: part.
 
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We have so many BGOL millionaires. (Sarcasm)

The following facts are from a previous thread. Many of you are so removed from reality and regular black folk, it is scary.

Regarding blacks in the U.S.

21.2% living under the poverty threshold, 19.3% were above the poverty line but earned less than $25,000, 27.3% of black households earned an income between $25,000 and $50,000. That is 67.8% of all blacks earning less than the U.S. median income.

We must agree that 67.8% is more than half, which in layman's terms is "most." Therefore, it is correct for one to conclude and state as fact that "most" blacks in the U.S. are poor or impoverished.
 
With many workplaces closing down, tons of people are on social media complaining about not being able to pay rent.
I know everyone's situation is different, but I didn't realize how many people are one missed check away from losing it all.
People on twitter and FB posting their cash app names asking for donations to keep them afloat for 14 days.
It's real in this bitch. People aren't paid enough. People are only paid enough to keep this system going.
 
We have so many BGOL millionaires. (Sarcasm)

The following facts are from a previous thread. Many of you are so removed from reality and regular black folk, it is scary.

Regarding blacks in the U.S.

21.2% living under the poverty threshold, 19.3% were above the poverty line but earned less than $25,000, 27.3% of black households earned an income between $25,000 and $50,000. That is 67.8% of all blacks earning less than the U.S. median income.

We must agree that 67.8% is more than half, which in layman's terms is "most." Therefore, it is correct for one to conclude and state as fact that "most" blacks in the U.S. are poor or impoverished.

Man, BGOL is either filled with frontin-ass niggas, boogie-ass niggas, or just cacs and Asians. Coming to this thread with any kind of REAL data and REAL-WORLD analysis will make you a pariah. Just ask @KingTaharqa.
 
While OP is incredulous to how this could happen to regular people, BILLION DOLLAR CORPORATIONS don’t even have enough liquidity to operate for over a month without income.

Many industries will fold if they aren’t bailed out, mainly the airline and oil industries here in America. That is more shocking than people not having emergency funds. OP must’ve grown up in a bubble.
I wanted to bump this post because this is super important. So, for my non-business folk, here is a brief finance lesson. In business, particularly healthcare, we measure the fitness of a company by a number of things. EBITDA and Profit Margin are important. But, we are super concerned with Days Cash on Hand. This is basically how long can we last if no money is coming in. Most hospitals in the US have about 60 to 180 DCOH. Everyone is pushing for testing and treatment, but who's paying the bill? Doctors, nurses, janitors, administrators etc. All still have to get paid. There are going to be alot of healthcare facilities closing their doors because of this.

Like the poster stated, most big businesses are not 100% liquid. Most people do not know that airlines operate on 1 to 3% profit margins. This is fact. Many hospitals have negative margins due to unpaid bills and low reimbursements.

In summary: lots of businesses will be closing and many people will be unemployed. The business that stay open or reopen will do so with the minimum number of staff possible to maximize profits and make up for the lost income. This is business 101.
 
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I wanted to bump this post because this is super important. So, for my non-business folk, here is a brief finance lesson. In business, particularly healthcare, we measure the fitness of a company buy a number of things. EBITDA and Profit Margin are important. But, we are super concerned with Days Cash in Hand. This is basically how long can we last if no money is coming in. Most hospitals in the US have about 60 to 180 DCOH. Everyone is pushing for testing and treatment, but who's paying the bill? Doctors, nurses, janitors, administrators etc. All still have to get paid. There are going to be alot of healthcare facilities closing their doors because of this.

Like the poster stated, most big businesses are not 100% liquid. Most people do not know that airlines operate on 1 to 3% profit margins. This is fact. Many hospitals have negative margins due to unpaid bills and low reimbursements.

In summary: lots of businesses will be closing and many people will be unemployed. The business that stay open or reopen will do so with the minimum number of staff possible to maximize profits and make up for the lost income. This is business 101.

Good info. Please keep bringing REAL knowledge to this thread.
 
Black Security guard where I work refuses to buy a house no matter what I tell him. He brags his wife makes 70k a year and drives an Infiniti but they rent an apartment. He'll make every excuse he can about buying.
"You have to fix things on your own when it breaks."
"It costs too much."
"In my apartment, something breaks, you just call them and they fix it"
"My apartment is mostly white people, I feel safe (Yes, he actually said this). :hmm:

Now the virus is here and both him and his wife (in their 50's) both at home, hours cut.
I hope their landlords are nice. :rolleyes:
. 70k ? That’s poor in the Bay Area and Infiniti? LOL niggas.
 
for being terrible at managing money, The Swiss, Germans, Chinese, Indians on average are all cultures that are much better at managing money than americans

Exposed for what? How many foreigners have savings except for socialist countries?
 
A couple years ago, I took out a sizable

5 yr loan from my 401K. They take out

money each check for 5 years until paid

off. I paid a big chunk on the principal not

too long ago and I was about to pay the

last off (about 20K) early and be done with

the loan. Now, I'm just going to let it sit for

a minute until this virus shit smooths out,

and then pay it off. I hate deductions

from my pay check. o_O
 
Steady bragging about how much your wife makes all the time at work? "She drive an Infiniti!" "I got 10k saved up".

All that bragging yet throwing the money away on a lil box you'll never own and they'll never stop hitting you for monthly? 50 ain't even old. Use that money he bragging about and pay off the mortgage early.

Don't forget they feel safe living around white folks. They'll always have that :rolleyes2: part.
It works for them
 
This pandemic is humbling humans.. Not caring about materialistic shit, appreciating the fact that they woke up today and are healthy, actually reaching out to their love 1s, caring about their fellow man, not celebrity worshipping... Things happen for a reason.. In certain ways this pandemic was needed

Nicely stated Fam! Folks now are being unplugged from the Matrix!
 
not really. Why do you think they are coming to America?

the cost of living is much lower there and immigrants send billions back home.

Not to mention their banks give them savings account interest higher than average stock market returns.

no need to give those foreigners props when you don’t tell the whole story.

for being terrible at managing money, The Swiss, Germans, Chinese, Indians on average are all cultures that are much better at managing money than americans
 


thats because they ARE disposable wage slaves on the front-line. They quit and there will be folks taking those jobs within the day. They need to realize what folks in corporate America have realized forever; we’re all just there until we ain’t.
 
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Landlords ain't stupid. They just saw muffugas get them huge ass EIC tax returns back in February so they want that cake. It ain't they fault folks turned up and threw money at used car lots and Jordan and the weed man. They have to survive like everybody else during these times and many of them depend on that income.
 
I literally know a muffugga who got back over 6k in February in taxes and they had the nerve to hit me up for twenty funky ass dollars yesterday. What the fuck you do with that money and you was still working at the time you got it? I understand we all out here trying to make it but gawd dam. You went through 6k in less than two months and you was working? Pligga knees... GTFOH. You can't manage a dollar.
 
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