Staggering US wealth inequality heaps long-term harm on to minority children

One of the best books I ever read about wealth building is a little known text titled Automatic Wealth by Michael Masterson. Actionable advice about finding a business that is viable and running it from wherever you feel.
Excellent book, a must read for gaining financial independence.

Thanks. I'ma check it out..

For those interested, review and link to a pdf copy:

Editorial Reviews
Amazon.com Review
The advice and concepts outlined in Automatic Wealthare best suited for those in their 30s-50s who recognize that their current job will never afford them true financial independence. Rather than encourage readers to quit their day jobs today and launch into a new scheme tomorrow, Masterson shows how to turn your skills and experience into significantly more money within seven to fifteen years. For those just getting by, he details how to get the biggest pay raises now and how to move into more lucrative ventures in the near future. For those with some savings, he offers specific advice on building equity and increasing net worth significantly and quickly. Since Masterson made his millions starting and developing small businesses, he encourages people to become entrepreneurs themselves and discusses which kinds of ventures to invest in and which ones to avoid. He also stresses the importance of developing multiple income streams, offering chapters on real estate, stocks and bonds, consulting, direct mail, and other opportunities.
In addition to concrete steps, Masterson also writes about attitude and expectations. His first step, in fact, is to take an honest and realistic assessment of your current financial situation and prepare yourself to change habits. He stresses that you must make getting rich a priority and devote the necessary time to it--act immediately and don't wait until the perfect moment to change your situation (hint: the perfect moment rarely arrives.). Clearly written and filled with informative anecdotes and examples, Automatic Wealth will not make you a millionaire overnight. It could, however, make you one in a decade, and that's a timeline most people can deal with. --Shawn Carkonen --This text refers to an alternate kindle_edition edition.

 
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Capitalism and racism are conjoined twins

As Martin Luther King said in his critique of capitalism in 1967, “It means ultimately coming to see that the problem of racism, the problem of economic exploitation, and the problem of war are all tied together. These are the triple evils that are interrelated.”
I disagree with him, capitalism is the reason why so-called black people can amass wealth for playing sports or entertaining which is something I cant say about other places. In theory, it gives everyone a shot to not have a ceiling on their earnings. Of course there will be exploitation but that is on politicians not taxing the money class and allowing them to hoard resources and monopolize.

Communism has proven to never be successful because its premise is faulty. communism and socialism run hand in hand and I can’t rock with it.

Martin Luther King, Jr. was a communist so I don’t expect him to agree, although capitalism allows for his family to live comfortably by monetizing his likeness. Funny how things work out.
 
I disagree with him, capitalism is the reason why so-called black people can amass wealth for playing sports or entertaining
Which applies to the .0001%. What about the other 99.9999%?
Martin Luther King, Jr. was a communist
Communism and Christianity are fundamentally contradictory. King was labeled communist by the cac to be painted as an enemy of the State. He went out of his way to counter and deny the accusation. Tho he was a scholar who studied the theory and practice and found its critique of capitalism to have merit.
 
Which applies to the .0001%. What about the other 99.9999%?

Communism and Christianity are fundamentally contradictory. King was labeled communist by the cac to be painted as an enemy of the State. He went out of his way to counter and deny the accusation. Tho he was a scholar who studied the theory and practice and found its critique of capitalism to have merit.
.0001% is disingenuous. I did not say billions. I can clarify to say “make a living” which cannot be refuted. How many countries can so-called blacks make thousands as college athletes or even from going viral on YouTube? Being a social media influencer? Have the freedom to purchase cryptocurrencies or invest in the stock market? Get paid to get on a stage and tell jokes? There is high monetary value placed on entertainment here which allows people to monetize it to the point they can live without having to work a typical job.

Martin Luther King, Jr. was a lot of things but a Christian was NOT one of them. His main man Bayard Rustin was a communist (and CIA asset). So was his other top adviser Stanley Levison. It is difficult for me to believe that they did not influence him, not to mention he also was a fan of Georg Hegel who influenced Friedrich Engels and Karl Marx.
 
The irony in all of this is many of you are hoping and praying that this system, that we didn't create, will miraculously transform into a utopia for all where there is no poor people or rich people noone is disenfranchised and Noone has to work unless they want to. Too many of my people have the mindset that we are not a part of the system and in fact not Americans who have the ability to take advantage of the system.

The outcome of dismantling the system will not yield the result many of you desire. If you were to succeed in dismantling the system, the country will fall or be weakened, and another country will come and take over which will lead to further oppression. Remember, there is no major power country that is truly hospitable to the black man. Even if another country did not take over, the new system would struggle for decades because it would take major capital to support it. The Federal Reserve is a part of the system. Taxes are a part of the system. The military is a part of the system. Stocks are a part of the system. More importantly, the US as a country is a part of a larger system.

Some of you really need to travel and see how other black folk are living in the world. We have been abused and still suffer atrocities in the country. However, I still think it is nothing compared to what some black folk in other places are facing.

Many of you want to paint capitalism as a bad thing. No, it is not perfect. But, with all things it's all about perspective and vantage point. Capitalism allows some of you to sell your incense and oils for a profit. The amount you earn is 100% based upon your hustle. The person who sells out everyday loves capitalism. The person who barely makes enough to eat hates capitalism.

Some of you within this thread are your own worst enemy. Your lack of success for some of you is due to your shortcomings and poor decisions, but it is much easier to blame whitey and the system instead if holding yourselves accountable.
 
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Instead, capitalism was the “natural” cure for the ghetto. Mr. Nixon should “help Negroes help themselves.” Agreeing to demands for federal spending or reparations in the ghetto was anti-capitalist.

That’s how Mr. Nixon gave us black capitalism. “Instead of government jobs and government housing and government welfare,” he said in a speech, “let government use its tax and credit policies,” to power “the greatest engine of progress ever developed in the history of man: American private enterprise.”



While a generation of white Americans had gained wealth through discriminatory government-sponsored credit subsidies for student and mortgage loans, Mr. Nixon pointed blacks to the free market and wished them luck. Black capitalism was so politically appealing, every administration since Mr. Nixon’s has adopted it in some form. Black capitalism morphed into Ronald Reagan’s “enterprise zone” policy, Bill Clinton’s “new market tax credits,” and Barack Obama’s “promise zones.”



During the 1968 election, the Democratic nominee, Hubert Humphrey declared, “Talking about black capitalism without capital is just kiting political checks.” You can’t have black capitalism without capital. But this is exactly Mr. Nixon’s legacy.

These programs fail because the benefits of capitalism always accrue to the owners of the capital, not to the people living in enterprise zones or promise zones. Using capitalism to fix the racial wealth gap will work only if there is a means to transfer capital, assets, wealth or housing.

The communities would benefit through more jobs and development, but any rise in real estate value will go to people with the initial capital. And when the ghetto gentrifies, the longtime residents are often displaced. These residents do not own the land, and the newly created wealth benefits the investors and the gentrifiers.
 
Nixon wasn't looking out for us when he started this shit and there is a reason every administration since has adopted some form of it with their tax breaks and opportunity zones
 
.0001% is disingenuous.
Nah. I was actually being generous. You literally only have a few thousand black humans who have been able to "amass wealth" entertaining white folk. Holding them out as example of capitalisms superlatives is actually doing the opposite.
How many countries can so-called blacks make thousands as college athletes or even from going viral on YouTube? Being a social media influencer?
Many countries. In fact, there are more pro sports opportunities outside the US than within. I know more than a few athletes who have had to leave the country to earn a living playing professional sports. Those countries also have professional for pay leagues which are inclusive to teens who want to forego formal education pursuits. Ironically, you point to the collegiate athletic model as evidence but that model represents anti-capitalism at its worst.
Being a social media influencer? Have the freedom to purchase cryptocurrencies or invest in the stock market? Get paid to get on a stage and tell jokes? There is high monetary value placed on entertainment here which allows people to monetize it to the point they can live without having to work a typical job.
Not sure why you think these things only exist in the US. And again you hyper focus on entertainment as if it provides realistic opportunity to "amass wealth" to more than <1%.
Martin Luther King, Jr. was a lot of things but a Christian was NOT one of them.
Pastor. Son of Pastor. Bachelors degree in Theology. Graduate degree in Seminary studies and Theology. PhD in Theology. Structured and organized his movement based largely on Christian tenets to shame devils.. If he wasnt a Christian then nobody was/is. :lol:
His main man Bayard Rustin was a communist (and CIA asset).
I got a good buddy thats a ER doctor. Dont make me one.
 
None of the myths commonly offered to explain away the racial wealth gap–a need for greater educational attainment, homeownership, or entrepreneurship; a lack of proper savings behavior, financial literacy, or commitment to “buying and banking black”; or a renewed focus towards soft skills, personal responsibility, improved family structures, or emulating successful minorities–come close to accounting for the vastness of the gap.

If you truly believe this then what is the point about complaining about wealth inequality?

The gap was not created in a neat little bubble that can be attributed solely to racism. There is no way possible to recreate the countless factors of post WW2 America that lead to the gap, and no modern social program will magically make us right.
 
If you truly believe this then what is the point about complaining about wealth inequality?

What do you mean "what is the point"? Just accept shit for what it is?

The gap was not created in a neat little bubble that can be attributed solely to racism. There is no way possible to recreate the countless factors of post WW2 America that lead to the gap, and no modern social program will magically make us right.

I've never said that it was solely due to racism, but racism was and is a dominant factor, and that is empirical fact as enumerated in various laws and policies. You make a good point in that there are post-WWII conditions, such as America's emergence as a superpower and the reasons for that, that should be taken into account, but there is no denying the impact of policies designed around Black exclusion that contributed to the wealth gap. If you want a list of the laws and policies that I am talking about and you don't want to research them yourself, I'll gladly list them for you.
 
What do you mean "what is the point"? Just accept shit for what it is?

If there is nothing we can personally do that will shrink the wealth gap what other choice do we have but accept it? We have no collective power to change anything - and the things that can build our power, like..

"greater educational attainment, homeownership, or entrepreneurship; proper savings behavior, financial literacy, or commitment to “buying and banking black”; or a renewed focus towards soft skills, personal responsibility, improved family structures, or emulating successful minorities"....

This stuff ultimately doesn't matter because it won't change the wealth gap (according to the studies you've found).

So where does that leave us?
 
If there is nothing we can personally do that will shrink the wealth gap what other choice do we have but accept it? We have no collective power to change anything - and the things that can build our power, like..

"greater educational attainment, homeownership, or entrepreneurship; proper savings behavior, financial literacy, or commitment to “buying and banking black”; or a renewed focus towards soft skills, personal responsibility, improved family structures, or emulating successful minorities"....

This stuff ultimately doesn't matter because it won't change the wealth gap (according to the studies you've found).

So where does that leave us?
Exactly my point. The only solution is to wait on the government to right the wrongs and to bring black folk up to wealth levels white folk are on. Well that's what I got from his post.

What's the chances of that happening in 5 years, 10, years, 50 years, or at all?

Meanwhile that wealth gap just keeps on widening until the government comes in an rescue us black folk.
 
If there is nothing we can personally do that will shrink the wealth gap what other choice do we have but accept it? We have no collective power to change anything - and the things that can build our power, like..

"greater educational attainment, homeownership, or entrepreneurship; proper savings behavior, financial literacy, or commitment to “buying and banking black”; or a renewed focus towards soft skills, personal responsibility, improved family structures, or emulating successful minorities"....

This stuff ultimately doesn't matter because it won't change the wealth gap (according to the studies you've found).

So where does that leave us?

I didn't say we have no collective power. Quite the opposite. As a start, we can:
  1. First of all, become truly conscious and aware of the severity of the problem, which is difficult enough when you have brothers sipping kopi luwak coffee and eating avocado toast and who think the problem is limited to baby mamas and the bastard children they've had by sagging-pants hood niggas.
  2. Making it our number one political priority and organizing and campaigning and voting as such, rather than just voting "to keep Trump out" or to "keep the GOP out" or acting as if LGBTQ and feminism should be our top priorities. The political reality is that NONE of those other movements could accomplish anything without our political support.
 
I didn't say we have no collective power. Quite the opposite. As a start, we can:
  1. First of all, become truly conscious and aware of the severity of the problem, which is difficult enough when you have brothers sipping kopi luwak coffee and eating avocado toast and who think the problem is limited to baby mamas and the bastard children they've had by sagging-pants hood niggas.
  2. Making it our number one political priority and organizing and campaigning and voting as such, rather than just voting "to keep Trump out" or to "keep the GOP out" or acting as if LGBTQ and feminism should be our top priorities. The political reality is that NONE of those other movements could accomplish anything without our political support.

1. What exactly is the severity of the problem? Are you suggesting that the financial success some brothers are seeing is of little value because white people make more money on a macro scale?

2. The wealth gap will never be be fixed by politics. Do you not see what a mess political "solutions" have been just in the past year?
 
1. What exactly is the severity of the problem? Are you suggesting that the financial success some brothers are seeing is of little value because white people make more money on a macro scale?

I’m really beginning to feel like a broken record in this thread. How many times do I have to post the same information before some of you can actually comprehend it? If you’d actually READ it (I know…COLIN), then you’d understand the severity of the issue.

Black Wealth in America Hardly Exists

Report: The Road to Zero Wealth

There is virtually NO WEALTH in Black America! This is based on EMPIRICAL data from the BLS and the Federal Reserve. Now, if your attitude is “I got mines so fukk y’all niggas” then just say that. But otherwise, stop playing dumb about this shit. :smh:

2. The wealth gap will never be be fixed by politics. Do you not see what a mess political "solutions" have been just in the past year?

The wealth gap was created by government policy. I would explain that to you, and a lot of info has already been posted, but you’ll just ignore that as well.
 
Now, if your attitude is “I got mines so fukk y’all niggas” then just say that. But otherwise, stop playing dumb about this shit. :smh:

The wealth gap was created by government policy. I would explain that to you, and a lot of info has already been posted, but you’ll just ignore that as well.

The attitude of multiple peeps in this thread has been "I got mines, and you can get yours".

Outside of the smug feelings of self righteousness it causes I'm not sure "I got mines, y'all niggas have no chance of getting like me so lets demand the government help you" is a superior attitude.
 
Instead, capitalism was the “natural” cure for the ghetto. Mr. Nixon should “help Negroes help themselves.” Agreeing to demands for federal spending or reparations in the ghetto was anti-capitalist.

That’s how Mr. Nixon gave us black capitalism. “Instead of government jobs and government housing and government welfare,” he said in a speech, “let government use its tax and credit policies,” to power “the greatest engine of progress ever developed in the history of man: American private enterprise.”



While a generation of white Americans had gained wealth through discriminatory government-sponsored credit subsidies for student and mortgage loans, Mr. Nixon pointed blacks to the free market and wished them luck. Black capitalism was so politically appealing, every administration since Mr. Nixon’s has adopted it in some form. Black capitalism morphed into Ronald Reagan’s “enterprise zone” policy, Bill Clinton’s “new market tax credits,” and Barack Obama’s “promise zones.”



During the 1968 election, the Democratic nominee, Hubert Humphrey declared, “Talking about black capitalism without capital is just kiting political checks.” You can’t have black capitalism without capital. But this is exactly Mr. Nixon’s legacy.

These programs fail because the benefits of capitalism always accrue to the owners of the capital, not to the people living in enterprise zones or promise zones. Using capitalism to fix the racial wealth gap will work only if there is a means to transfer capital, assets, wealth or housing.

The communities would benefit through more jobs and development, but any rise in real estate value will go to people with the initial capital. And when the ghetto gentrifies, the longtime residents are often displaced. These residents do not own the land, and the newly created wealth benefits the investors and the gentrifiers.
@Darrkman
 

Learned about this shit in 96 when 1 of my boys worked at Dunkin’ Donuts.. told me how much food they threw away at night it was ridiculous.. always pissed me off knowing how much food goes to waste daily in America yet we have starving people..that’s why I always laugh at that horseshit that humans have limited resources to go around.. literally no human should starve or be without shelter.. knowing that people in high places could easily change people in need living conditions for the better yet purposely don’t always rubbed me wrong and gives me lots of hatred to powers that be..may they all burn in hell
 
What's crazy is that there are laws sometimes that prevent such things from happening as well as potential lawsuits if someone gets sick, etc.. from eating the food.
They use that lawsuit line for purposely keeping a certain system running and keeping certain demographics down… imagine having a bunch of food able to feed hundreds of starving people but go no let’s keep them starving cause 1 of them might say the grapes are spoil..yeah sounds like bullshit and more of an excuse to deny the needy help
 
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