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

[Joe Money]

My G, I fully understand wealth moreso than most.

According to investopedia:

Wealth measures the value of all the assets of worth owned by a person, community, company, or country. Wealth is determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts.

Most wealthy people, particularly millionaires all own homes and land. I teach this. I recently shared a full indepth post about how anyone can do it.

Most wealthy people invest in stocks particularly millionaires . I teach this. I have an entire thread dedicated to teaching people how to start from scratch and build their portfolio.

Most wealthy people particularly millionaires have high paying jobs. Yes, Warren buffet, etc all have jobs. I teach this. One must understand that utilizing all income streams to generate wealth is important. Additionally, a minimum of 15% of one's salary should be earmarked specifically for investments.

Most wealthy people particularly millionaires have low debt and live below their means. I teach this. I have too many posts where I hold us accountable for frivolous spending.

Most wealthy people particularly millionaires have have multiple income streams including businesses they own. I teach this. I talk indepth about controlling your destiny and having unlimited incomes generating potential.

Most wealthy people particularly millionaires associate with other wealthy people. I teach this. I am an advocate for attending Ivy League schools because it is a gateway into high level networking.

But, hey what do I know. I'm just a person who shared a low risk investment portfolio that has outperformed the market two years straight on a porn site for free and didn't ask for anything.

I got this. Me and my seed are good now and they will be in a better position than me when I done.

Do you Playa, have fun with that.

If you can understand that, why can’t you understand this:

At stake is nothing less than the American dream, the aspiration popular among politicians of both main parties that anybody can make it no matter how modest their beginnings. Christina Gibson-Davis, a professor of public policy and sociology at Duke University who is co-editor of the new research, pointed to one of its central findings – that wealth inequality between American families has become so extreme that 1% of parents control 44% of all wealth held by households with children, while the top 10% control 82%.​

​

“When the top 10% of parents control 82% of all the wealth in child households, that opens up opportunities and choices they make for their children that are not available to the bottom 90%,” Gibson-Davis said.​

These problems are systemic, and can’t be fixed by “bootstrapping.” You say you’re Ivy League, yet you reject mountains of scholarship from Ivy League and Ivy League-educated professors on the systemic nature of wealth inequality!

Hell, we could get into how it plays out in the medical field:
A provocative new study of physician pay reveals a seemingly alarming racial disparity that reaches to the very top of medicine: a large salary gap between white male doctors and everyone else.

 

[Tito_Jackson]

I'm not sure how many ways I can say that I know and understand that there are wage and pay disparities and a wide income gap among races. I acknowledge that there are systemic issues that make it more difficult for us to succeed.

I also know and understand that despite the roadblocks, there are many things within our control. Unfortunately, it seems you do not want to take responsibility for your own shortcomings or the shortcomings of others.

At this point, it is obvious you would rather wallow in despair and tell children that school isn't worth it and it won't do any good for them. You want everyone to believe that even if they improve their situations and the lives of the people around them, they still have failed because they will never make as much as white people. They should keep hope alive that the government will see their evil ways and bless us all with reparations.

Until then, my seed, my wife, and I will enjoy our upper middle class lifestyle that you seem to think is so horrible. As I eat my avocado toast and drink my Chai coffee, I assure you that it is quite comfortable here. Much better than it was when I was a kid living below the poverty line. I'm old enough to remember standing in line to get free block of cheese. I'm old enough to remember paper food stamps. I'm old enough to remember free powered milk. From where my family was, to where we are now looks and feels like success to us. Maybe we are the ones that's crazy.

I have a meeting with two of my mentees this afternoon, a single mom with three kids and a young brother who graduated high school 2 years ago. This back and forth between you and I will serve as a great cautionary tale to share with them.

Be blessed my brother.

 

[Mrfreddygoodbud]

If you can understand that, why can’t you understand this:

At stake is nothing less than the American dream, the aspiration popular among politicians of both main parties that anybody can make it no matter how modest their beginnings. Christina Gibson-Davis, a professor of public policy and sociology at Duke University who is co-editor of the new research, pointed to one of its central findings – that wealth inequality between American families has become so extreme that 1% of parents control 44% of all wealth held by households with children, while the top 10% control 82%.​

​

“When the top 10% of parents control 82% of all the wealth in child households, that opens up opportunities and choices they make for their children that are not available to the bottom 90%,” Gibson-Davis said.​

These problems are systemic, and can’t be fixed by “bootstrapping.” You say you’re Ivy League, yet you reject mountains of scholarship from Ivy League and Ivy League-educated professors on the systemic nature of wealth inequality!

Hell, we could get into how it plays out in the medical field:
A provocative new study of physician pay reveals a seemingly alarming racial disparity that reaches to the very top of medicine: a large salary gap between white male doctors and everyone else.

Debating this is part of the economical war the wealthy has been waging on the masses for damn near a century now,

the problem is also semantics.. ITS NOT A RACIST WAR....

Its a complexion based economic war, that has the masses fighting each other over peanuts, while the wealthy

walk away with the whole BUFFET.

The economic disparity between most cacs and us indigenous folk is done on purpose to cause

a distraction.

It keeps everyone focused on themselves the man made chess pieces and totattly ignore the

chess PLAYERS the wealthy moving all the pieces...

we are constantly mind fucked everytime we THINK there is a war....

two key words the wealthy use to hide the fact they are robbing murdering

and profiterring off of our death, fear, misery and tax dollar...

is

INFLATION.. that mean international bankers are creating

DEBT for us and PROFIT for themselves, the debt is

beause they international banking cartel


head quartered on fleet street in england via

financial district, wall street

are stealing our resources and WE are paying for it....

all that shit they teach in economics is PURE MIND FUCKERY

to whats really going on.

we have to call it what it is... its an

ECONOMIC WAR and the majority of us

have no idea we are in it.. especially cacs...

who they pay a little more, to psychologically mind fucked

them to keep the system going, in favor of the wealthy..

see cacs dont know, if we cut off the wealthy,

They can actually get a SLICE of the pie, instead of

a bigger crumb than the "darkies"

If they unite with us, we can all quadriple our income,

work less, have more time with family and friends

and get a taste of real freedom..

but when you are mind fucked..

You think getting a bigger crumb

is freedom...

the wealthy play a great game of chess getting the masses,

to fight each other for their benefit..

they dumbed down society through their educational system..

started by rockefeller and frederick t gates...

yes directly related to the same gates trying to

CONTROL the population...

yall dont hear me tho

 

[Mrfreddygoodbud]

I'm not sure how many ways I can say that I know and understand that there are wage and pay disparities and a wide income gap among races. I acknowledge that there are systemic issues that make it more difficult for us to succeed.

I also know and understand that despite the roadblocks, there are many things within our control. Unfortunately, it seems you do not want to take responsibility for your own shortcomings or the shortcomings of others.

At this point, it is obvious you would rather wallow in despair and tell children that school isn't worth it and it won't do any good for them. You want everyone to believe that even if they improve their situations and the lives of the people around them, they still have failed because they will never make as much as white people. They should keep hope alive that the government will see their evil ways and bless us all with reparations.

Until then, my seed, my wife, and I will enjoy our upper middle class lifestyle that you seem to think is so horrible. As I eat my avocado toast and drink my Chai coffee, I assure you that it is quite comfortable here. Much better than it was when I was a kid living below the poverty line.

I have a meeting with two of my mentees this afternoon, a single mom with three kids and a young brother who graduated high school 2 years ago. This back and forth between you and I will serve as a great cautionary tale to share with them.

Be blessed my brother.

Its all part of the divide and conquer shit the wealthy has been waging on the masses..

all this racial shit, is NOT natural its cooked up by think tanks....

its a chess game, and us not thinking for ourselves have

allowed them to make us chess pieces in their game...


creathing a wealth disparity between the masses..

is a key element in their divide and conquer game..

that we ALWAYS GO FOR..

bruh the WILLIE LYNCH letter is REAL AS FUCK...

everybody should study it, to see how the wealthy are

running game on ALL THE RACES.....

by creating a caste system... caste systems have everyone

worshipping the top and hating the bottom...

its the choice system of the super wealthy, and its

a GLOBAL thing....

 

[roblo]

I have fully taken this into account. My response is still the same, what is stopping you or any other black person from doing the things within your power to do? Do better in school. Buy a starter home. Invest money. Spend less. Learn a new skill.

This is our fundamental disagreement. We have to encourage our youth to work hard at all costs. Period. We have to encourage our youth to overcome these "factors" you speak of no matter how hard it may seem. We also have to assist our youth in overcoming these factors and not allowing them to feel as though they are doing this alone. Our schools have always been underresourced. OK, we know this. What are we going to do? Feel sorry for ourselves and do nothing. Are we just going to wait for "whitey" to one decide to help us? (That Lift Every Voice Plan is doing wonders for us right now.) Or are we going to do what we have been doing for years, attempting to succeed despite to adversities?

You have too much focus on whitey. As long as we breathe, in this society, someone is going to make money off of you in some capacity. Knowing the "game," why not teach and encourage our brothers and sisters to maximize his or her position while playing the game? Be a nurse, doctor, scientist, IT, contractor, electrician, plumber, etc. Any of these jobs will put a black person WELL above the median income level for black folks. The white man can not stop you from achieving this. Invest $25 a week. How can the white man stop you from doing this? In today's market ANYONE, get an extra job at McD's and invest the entire paycheck. How can the white man stop you from doing this? Fix your credit save a few dollars and buy a starter home. How can the white man stop you from doing this in 2021?

The white man isn't stopping us, it's many black men and their poor attitude.

I have zero tolerance for any brother or sister who does not believe that we are capable of much more than we are doing at this present moment.

Again, we have to ask ourselves, despite what I know about racism etc, what am I doing to contribute to my own demise? What could I be doing right now to improve my situation?

Ah, the resident thread derailer. Never anything of substance.

I maintain my position that the Civil War was a 'Bankers War" instigated by the Rothchild's, who created and still owns the Federal Reserve Bank. Why did they want/ need a war? Because the US at the time was against a national bank and against being beholden to a private bank for money. Nonetheless, because of the Civil War, the bankers achieved their goal. The first national currency was established during the Civil War. The National Bank Act of 1863 was enacted setting the stage for the Federal Reserve. Fast forward to 2021, The "Fed" prints the US currency at a 6.2 cents for every dollar bill and 11.2 cents for every 20 dollar bill. The US also has to pay "interest" on this printed money because we can not directly back it since we do not use gold anymore. Surprised?? That's right, our money is not back by gold or any precious metal anymore. So, for every dollar the US prints, we are more in debt the second it is printed. This is why the Civil War was instigated using slavery as a guise. The ultimate money grab. The US is merely a financial institution for bankers.

But, this level of intellect supersedes your 3rd-grade comprehension. Please take your still thinking Pluto is a planet dumbass somewhere and go mop some floors you scrub. Hit me when you are ready for more right knowledge.

Understanding what the Federal Reserve actually is and does opened my eyes to the scam that is our financial system. Until the masses understand how central banking manipulates the world, we will continue to be victimized by it.

 

[BKF]

I'm not sure how many ways I can say that I know and understand that there are wage and pay disparities and a wide income gap among races. I acknowledge that there are systemic issues that make it more difficult for us to succeed.

I also know and understand that despite the roadblocks, there are many things within our control. Unfortunately, it seems you do not want to take responsibility for your own shortcomings or the shortcomings of others.

At this point, it is obvious you would rather wallow in despair and tell children that school isn't worth it and it won't do any good for them. You want everyone to believe that even if they improve their situations and the lives of the people around them, they still have failed because they will never make as much as white people. They should keep hope alive that the government will see their evil ways and bless us all with reparations.

Until then, my seed, my wife, and I will enjoy our upper middle class lifestyle that you seem to think is so horrible. As I eat my avocado toast and drink my Chai coffee, I assure you that it is quite comfortable here. Much better than it was when I was a kid living below the poverty line. I'm old enough to remember standing in line to get free block of cheese. I'm old enough to remember paper food stamps. I'm old enough to remember free powered milk. From where my family was, to where we are now looks and feels like success to us. Maybe we are the ones that's crazy.

I have a meeting with two of my mentees this afternoon, a single mom with three kids and a young brother who graduated high school 2 years ago. This back and forth between you and I will serve as a great cautionary tale to share with them.

Be blessed my brother.

The shit is un..fucking...believable. Can you imagine pounding that shit into your kid's head from the time they are able to comprehend shit? They are destined to fail and if they try to succeed. Then they will be ridiculed for succeeding or for trying to.
What kind of backwards ass logic is this?

 

[black again]

Debating this is part of the economical war the wealthy has been waging on the masses for damn near a century now,

the problem is also semantics.. ITS NOT A RACIST WAR....

Its a complexion based economic war, that has the masses fighting each other over peanuts, while the wealthy

walk away with the whole BUFFET.

The economic disparity between most cacs and us indigenous folk is done on purpose to cause

a distraction.

It keeps everyone focused on themselves the man made chess pieces and totattly ignore the

chess PLAYERS the wealthy moving all the pieces...

we are constantly mind fucked everytime we THINK there is a war....

two key words the wealthy use to hide the fact they are robbing murdering

and profiterring off of our death, fear, misery and tax dollar...

is

INFLATION.. that mean international bankers are creating

DEBT for us and PROFIT for themselves, the debt is

beause they international banking cartel


head quartered on fleet street in england via

financial district, wall street

are stealing our resources and WE are paying for it....

all that shit they teach in economics is PURE MIND FUCKERY

to whats really going on.

we have to call it what it is... its an

ECONOMIC WAR and the majority of us

have no idea we are in it.. especially cacs...

who they pay a little more, to psychologically mind fucked

them to keep the system going, in favor of the wealthy..

see cacs dont know, if we cut off the wealthy,

They can actually get a SLICE of the pie, instead of

a bigger crumb than the "darkies"

If they unite with us, we can all quadriple our income,

work less, have more time with family and friends

and get a taste of real freedom..

but when you are mind fucked..

You think getting a bigger crumb

is freedom...

the wealthy play a great game of chess getting the masses,

to fight each other for their benefit..

they dumbed down society through their educational system..

started by rockefeller and frederick t gates...

yes directly related to the same gates trying to

CONTROL the population...

yall dont hear me tho

Its all part of the divide and conquer shit the wealthy has been waging on the masses..

all this racial shit, is NOT natural its cooked up by think tanks....

its a chess game, and us not thinking for ourselves have

allowed them to make us chess pieces in their game...


creathing a wealth disparity between the masses..

is a key element in their divide and conquer game..

that we ALWAYS GO FOR..

bruh the WILLIE LYNCH letter is REAL AS FUCK...

everybody should study it, to see how the wealthy are

running game on ALL THE RACES.....

by creating a caste system... caste systems have everyone

worshipping the top and hating the bottom...

its the choice system of the super wealthy, and its

a GLOBAL thing....

Said so much of this myself...over and over and over..

They don't hear ya, bruh

 

[roblo]

There is plenty of opportunity in America. Yes, the system is crooked, there are road blocks and barriers for Black people. But I know way too many successful Black people to believe that our circumstances are insurmountable. You can complain about the system from your 5 bedroom house or your one bedroom apartment. The choice is yours.

 

[Joe Money]

I'm not sure how many ways I can say that I know and understand that there are wage and pay disparities and a wide income gap among races. I acknowledge that there are systemic issues that make it more difficult for us to succeed.

I also know and understand that despite the roadblocks, there are many things within our control. Unfortunately, it seems you do not want to take responsibility for your own shortcomings or the shortcomings of others.

At this point, it is obvious you would rather wallow in despair and tell children that school isn't worth it and it won't do any good for them. You want everyone to believe that even if they improve their situations and the lives of the people around them, they still have failed because they will never make as much as white people. They should keep hope alive that the government will see their evil ways and bless us all with reparations.

Until then, my seed, my wife, and I will enjoy our upper middle class lifestyle that you seem to think is so horrible. As I eat my avocado toast and drink my Chai coffee, I assure you that it is quite comfortable here. Much better than it was when I was a kid living below the poverty line. I'm old enough to remember standing in line to get free block of cheese. I'm old enough to remember paper food stamps. I'm old enough to remember free powered milk. From where my family was, to where we are now looks and feels like success to us. Maybe we are the ones that's crazy.

I have a meeting with two of my mentees this afternoon, a single mom with three kids and a young brother who graduated high school 2 years ago. This back and forth between you and I will serve as a great cautionary tale to share with them.

Be blessed my brother.

I'm rather shocked at the anti-intellectualism coming from you, especially since I've posted nothing but research and data. If you really wanted to keep it real, then you'd compare your upper middle-class lifestyle and wealth to that of your white colleagues and have a real discussion about the disparity that exists there, rather than comparing yourself to Black single mothers, young Zoomers, or people in the hood in general. I hope you encourage your mentees to understand the difference between analyzing real academic and empirical research vs receiving that as an ad hominem attack. Even as they overcome whatever "shortcomings" they may have and vault into the top 10% of income earners, there are still systemic barriers they will encounter and will need to understand are not due to them and what they're supposedly doing wrong in life and career:

Medscape’s 8th annual Physician Compensation Report collected responses about salary from more than 20,000 American doctors across dozens of medical specialties. The group found that women and racial minorities—particularly African Americans—were consistently paid less than white men.​

Here's How Much Less Women and Black Doctors Make Than Their White Male Colleagues

Doctors' salaries are rising, but so is pay inequality.

fortune.com

 

[Supersav]

There is plenty of opportunity in America. Yes, the system is crooked, there are road blocks and barriers for Black people. But I know way too many successful Black people to believe that our circumstances are insurmountable. You can complain about the system from your 5 bedroom house or your one bedroom apartment. The choice is yours.

That's how capitalism works...it won't allow for the whole to be successful. It needs the poor. Who else gonna work the factories and low paying jobs to allow people to be rich

 

[Joe Money]

Said so much of this myself...over and over and over..

They don't hear ya, bruh

Unfortunately this guy refuses to assemble what he has to say in a coherent paragraph!

There is plenty of opportunity in America. Yes, the system is crooked, there are road blocks and barriers for Black people. But I know way too many successful Black people to believe that our circumstances are insurmountable. You can complain about the system from your 5 bedroom house or your one bedroom apartment. The choice is yours.

Or you can be in a 5 bedroom house and still be conscious that of the estimated $110 trillion dollars in wealth held by Americans, 3% of that is held by Black Americans, and the overwhelming bulk of that is held by Black Boomers, mostly in pensions and houses. And that 3% will be gone by 2053 anyway, if current trends continue.

Median wealth of black Americans 'will fall to zero by 2053', warns new report

“The middle class didn’t just happen by market forces, and the whiteness of the middle class didn’t just happen by market forces. Both were intentional,” said Dedrick Asante-Muhammad, a senior fellow at Prosperity Now and one of the report’s authors.​

​

“The majority of white Americans weren’t middle class until the 1930s or 40s,” Asante-Muhammad told the Guardian. “Then there was mass investment to create an American middle class – but it was a white American middle class.”​

​

Recent economic crises have widened this wealth gap, according to the report, as communities of colour took the brunt of the economic hit. Black median wealth has never recovered from the 2001 recession, nor Latino median wealth from the 2008 financial collapse. White median wealth, on the other hand, was left unaffected in 2002, and began rebounding just two years after the speculative housing bubble began to implode.​

​

One of the things Asante-Muhammad and his co-authors found extremely important was focusing on inequality of wealth as opposed to income, because they felt it was a more accurate test of middle-class status.​

​

https://www.theguardian.com/us-news/2017/aug/30/new-jersey-bail-reform-criminal-justice-bond-money
“You find first-generation, even second-generation African-American and Latino households that have professional jobs and are making ‘middle-income money’ – but they have the wealth of a white high-school dropout,” Asante-Muhammad said. “They’re not truly part of a middle class – which would mean financial stability, money to weather challenging economic situations, or money to invest in the economic opportunities of their children.”​

Median wealth of black Americans 'will fall to zero by 2053', warns new report

Study predicts huge and growing gulf between white US households and everyone else could be disastrous for future of America’s middle class

www.theguardian.com

@Supersav: We should petition to have this board renamed to the "Ayn Rand Brothers" or "John Birch Brothers" or some shit like that. Niggas are further to the economic right than Milton Friedman!

 

[Tito_Jackson]

 

[roblo]

Unfortunately this guy refuses to assemble what he has to say in a coherent paragraph!



Or you can be in a 5 bedroom house and still be conscious that of the estimated $110 trillion dollars in wealth held by Americans, 3% of that is held by Black Americans, and the overwhelming bulk of that is held by Black Boomers, mostly in pensions and houses. And that 3% will be gone by 2053 anyway, if current trends continue.

Median wealth of black Americans 'will fall to zero by 2053', warns new report

“The middle class didn’t just happen by market forces, and the whiteness of the middle class didn’t just happen by market forces. Both were intentional,” said Dedrick Asante-Muhammad, a senior fellow at Prosperity Now and one of the report’s authors.​

​

“The majority of white Americans weren’t middle class until the 1930s or 40s,” Asante-Muhammad told the Guardian. “Then there was mass investment to create an American middle class – but it was a white American middle class.”​

​

Recent economic crises have widened this wealth gap, according to the report, as communities of colour took the brunt of the economic hit. Black median wealth has never recovered from the 2001 recession, nor Latino median wealth from the 2008 financial collapse. White median wealth, on the other hand, was left unaffected in 2002, and began rebounding just two years after the speculative housing bubble began to implode.​

​

One of the things Asante-Muhammad and his co-authors found extremely important was focusing on inequality of wealth as opposed to income, because they felt it was a more accurate test of middle-class status.​

​

https://www.theguardian.com/us-news/2017/aug/30/new-jersey-bail-reform-criminal-justice-bond-money​

“You find first-generation, even second-generation African-American and Latino households that have professional jobs and are making ‘middle-income money’ – but they have the wealth of a white high-school dropout,” Asante-Muhammad said. “They’re not truly part of a middle class – which would mean financial stability, money to weather challenging economic situations, or money to invest in the economic opportunities of their children.”​

Median wealth of black Americans 'will fall to zero by 2053', warns new report

Study predicts huge and growing gulf between white US households and everyone else could be disastrous for future of America’s middle class

www.theguardian.com

@Supersav: We should petition to have this board renamed to the "Ayn Rand Brothers" or "John Birch Brothers" or some shit like that. Niggas are further to the economic right than Milton Friedman!

Sounds like you'll be complaining from your one bedroom apartment in the future.

 

[BKF]

I'm rather shocked at the anti-intellectualism coming from you, especially since I've posted nothing but research and data. If you really wanted to keep it real, then you'd compare your upper middle-class lifestyle and wealth to that of your white colleagues and have a real discussion about the disparity that exists there, rather than comparing yourself to Black single mothers, young Zoomers, or people in the hood in general. I hope you encourage your mentees to understand the difference between analyzing real academic and empirical research vs receiving that as an ad hominem attack. Even as they overcome whatever "shortcomings" they may have and vault into the top 10% of income earners, there are still systemic barriers they will encounter and will need to understand are not due to them and what they're supposedly doing wrong in life and career:

Medscape’s 8th annual Physician Compensation Report collected responses about salary from more than 20,000 American doctors across dozens of medical specialties. The group found that women and racial minorities—particularly African Americans—were consistently paid less than white men.​

Here's How Much Less Women and Black Doctors Make Than Their White Male Colleagues

Doctors' salaries are rising, but so is pay inequality.

fortune.com

 

[Supersav]

Unfortunately this guy refuses to assemble what he has to say in a coherent paragraph!



Or you can be in a 5 bedroom house and still be conscious that of the estimated $110 trillion dollars in wealth held by Americans, 3% of that is held by Black Americans, and the overwhelming bulk of that is held by Black Boomers, mostly in pensions and houses. And that 3% will be gone by 2053 anyway, if current trends continue.

Median wealth of black Americans 'will fall to zero by 2053', warns new report

“The middle class didn’t just happen by market forces, and the whiteness of the middle class didn’t just happen by market forces. Both were intentional,” said Dedrick Asante-Muhammad, a senior fellow at Prosperity Now and one of the report’s authors.​

​

“The majority of white Americans weren’t middle class until the 1930s or 40s,” Asante-Muhammad told the Guardian. “Then there was mass investment to create an American middle class – but it was a white American middle class.”​

​

Recent economic crises have widened this wealth gap, according to the report, as communities of colour took the brunt of the economic hit. Black median wealth has never recovered from the 2001 recession, nor Latino median wealth from the 2008 financial collapse. White median wealth, on the other hand, was left unaffected in 2002, and began rebounding just two years after the speculative housing bubble began to implode.​

​

One of the things Asante-Muhammad and his co-authors found extremely important was focusing on inequality of wealth as opposed to income, because they felt it was a more accurate test of middle-class status.​

​

https://www.theguardian.com/us-news/2017/aug/30/new-jersey-bail-reform-criminal-justice-bond-money​

“You find first-generation, even second-generation African-American and Latino households that have professional jobs and are making ‘middle-income money’ – but they have the wealth of a white high-school dropout,” Asante-Muhammad said. “They’re not truly part of a middle class – which would mean financial stability, money to weather challenging economic situations, or money to invest in the economic opportunities of their children.”​

Median wealth of black Americans 'will fall to zero by 2053', warns new report

Study predicts huge and growing gulf between white US households and everyone else could be disastrous for future of America’s middle class

www.theguardian.com

@Supersav: We should petition to have this board renamed to the "Ayn Rand Brothers" or "John Birch Brothers" or some shit like that. Niggas are further to the economic right than Milton Friedman!

I thought Tito was smart

 

[Gazoo]

This is sad shit guys. I understand this is where everyone are millionaires and shit, but dont yall get tired of being the only Black person on your 1st class flight to Hawaii. I am.
It pains me to see our people fucked up here like this. I've said it before and have no shame, that the only way the rest of our people are getting out this is with Gov't assistance. Damn you all who thinks otherwise!

First class to Hawaii. Must be nice.

 

[Joe Money]

Sounds like you'll be complaining from your one bedroom apartment in the future.

And it sounds like you've totally ignored the points that have repeatedly been made.

 

[Joe Money]

I thought Tito was smart

He is. Just seems like he has social prejudices that have clouded his reasoning on this topic.

 

[Supersav]

He is. Just seems like he has social prejudices that have clouded his reasoning on this topic.

You know how I feel. I think people are stuck in this system where they believe the pursuit of money is the end all be all. People rather live in a mansion taking up space they won't use then live modestly and take spread the wealth.

 

[roblo]

And it sounds like you've totally ignored the points that have repeatedly been made.

I just know as a man looking out for his family's future, I need to get it done in whatever system is in place. Fuck excuses. Lot's of Black people have figured it out and are thriving.

 

[Joe Money]

I just know as a man looking out for his family's future, I need to get it done in whatever system is in place. Fuck excuses. Lot's of Black people have figured it out and are thriving.

And no one is saying that you shouldn't. We're just saying to see and understand the bigger picture. You could be on a sinking ship but, since you moved to an upper deck, you may think you're "good."

 

[gene cisco]

My G, I fully understand wealth moreso than most.

According to investopedia:

Wealth measures the value of all the assets of worth owned by a person, community, company, or country. Wealth is determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts.

Most wealthy people, particularly millionaires all own homes and land. I teach this. I recently shared a full indepth post about how anyone can do it.

Most wealthy people invest in stocks particularly millionaires . I teach this. I have an entire thread dedicated to teaching people how to start from scratch and build their portfolio.

Most wealthy people particularly millionaires have high paying jobs. Yes, Warren buffet, etc all have jobs. I teach this. One must understand that utilizing all income streams to generate wealth is important. Additionally, a minimum of 15% of one's salary should be earmarked specifically for investments.

Most wealthy people particularly millionaires have low debt and live below their means. I teach this. I have too many posts where I hold us accountable for frivolous spending.

Most wealthy people particularly millionaires have have multiple income streams including businesses they own. I teach this. I talk indepth about controlling your destiny and having unlimited incomes generating potential.

Most wealthy people particularly millionaires associate with other wealthy people. I teach this. I am an advocate for attending Ivy League schools because it is a gateway into high level networking.

But, hey what do I know. I'm just a person who shared a low risk investment portfolio that has outperformed the market two years straight on a porn site for free and didn't ask for anything.

I got this. Me and my seed are good now and they will be in a better position than me when I done.

Do you Playa, have fun with that.

You said "Most wealthy people, PARTICULARLY millionaires." Bruh, if person ain't even got a million dollars OUTSIDE their primary residence, they ain't near wealthy.

And fam, this is 2021, not 1921. The Ivy League barrier isn't a thing any fucking more when the world is in the palm of everyone's hands. You seem to be on some boomer shit. I'm just some fool from Ohio with a felonious background and I'm on zoom meetings every fucking week with millionaires from across the fucking globe.

Guess how many of those millionaires ask me where I went to school? None. Zero. Zilch. Not fucking one. They don't give not one flying fuck.

Paying 50k a year to meet people is some grandpa shit in 2021. Going to have people chasing debt to connect. Jesus.

Debating this is part of the economical war the wealthy has been waging on the masses for damn near a century now,

the problem is also semantics.. ITS NOT A RACIST WAR....

Its a complexion based economic war, that has the masses fighting each other over peanuts, while the wealthy

walk away with the whole BUFFET.

The economic disparity between most cacs and us indigenous folk is done on purpose to cause

a distraction.

It keeps everyone focused on themselves the man made chess pieces and totattly ignore the

chess PLAYERS the wealthy moving all the pieces...

we are constantly mind fucked everytime we THINK there is a war....

two key words the wealthy use to hide the fact they are robbing murdering

and profiterring off of our death, fear, misery and tax dollar...

is

INFLATION.. that mean international bankers are creating

DEBT for us and PROFIT for themselves, the debt is

beause they international banking cartel


head quartered on fleet street in england via

financial district, wall street

are stealing our resources and WE are paying for it....

all that shit they teach in economics is PURE MIND FUCKERY

to whats really going on.

we have to call it what it is... its an

ECONOMIC WAR and the majority of us

have no idea we are in it.. especially cacs...

who they pay a little more, to psychologically mind fucked

them to keep the system going, in favor of the wealthy..

see cacs dont know, if we cut off the wealthy,

They can actually get a SLICE of the pie, instead of

a bigger crumb than the "darkies"

If they unite with us, we can all quadriple our income,

work less, have more time with family and friends

and get a taste of real freedom..

but when you are mind fucked..

You think getting a bigger crumb

is freedom...

the wealthy play a great game of chess getting the masses,

to fight each other for their benefit..

they dumbed down society through their educational system..

started by rockefeller and frederick t gates...

yes directly related to the same gates trying to

CONTROL the population...

yall dont hear me tho

You see what that cat Tito is on? Debt. Willing to spend 50k a year for antiquated network channels for some employee perks. Bankers/elite used to own all the connects. What he is saying to do applied for people in their 40s and older, but doesn't apply for young people coming up now. In the 90s, I would have never been able to connect with the people my kids can now. Just wasn't possible unless you got lucky or went to the right schools.

And that's the problem with the black community. Always one fucking step behind the game. It's bad enough white people haven't caught on to the bankers hustle(and we all suffer for it). But to have black folks who haven't and who still believe(and push) antiquated systems is fucked all the way up.

I'm all for education. But folks no longer have to go into debt for it and the networking benefits schools once owned no longer apply in today's world. Meanwhile, the bankers game only going to make quality of life worse for those who don't play the game just like them.

I got those stuffed shirt cats in my family man. They mean well, but they really stuck in their ways.

 

[Madrox]

There is plenty of opportunity in America. Yes, the system is crooked, there are road blocks and barriers for Black people. But I know way too many successful Black people to believe that our circumstances are insurmountable. You can complain about the system from your 5 bedroom house or your one bedroom apartment. The choice is yours.

Yup. I feel like dudes are arguing over issues that they actually agree on here.

Everyone knows the system isn't set up for us to achieve...while others prosper. But to say that we can't over come and prosper isn't true. We got to grind harder but damned if we ain't GONNA still grind. All you have to do is look in the mirror for the truth behind the successes that can be reached when you decide to grind no matter what.

One of the reasons I love this board is the fact that there are so many dudes that are living proof of the successes that we can to teach as the norm, rather than being outliers in the future.

 

[black again]

And no one is saying that you shouldn't. We're just saying to see and understand the bigger picture. You could be on a sinking ship but, since you moved to an upper deck, you may think you're "good."

This is America today....

We ARE on the Titanic, but cats are just tryna get outta steerage instead of on a lifeboat.

Like in Titanic...watch which way the rats are running...you may not run with them, but you damn shole need to know why they're running.

 

[Supersav]

Ivy league ain't shit but validation like the Oscars and Grammys and anything else white people deem as the pinnacle

 

[black again]

Yup. I feel like dudes are arguing over issues that they actually agree on here.

Everyone knows the system isn't set up for us to achieve...while others prosper. But to say that we can't over come and prosper isn't true. We got to grind harder but damned if we ain't GONNA still grind. All you have to do is look in the mirror for the truth behind the successes that can be reached when you decide to grind no matter what.

One of the reasons I love this board is the fact that there are so many dudes that are living proof of the successes that we can to teach as the norm, rather than being outliers in the future.

Bruh, it happens ALL THE TIME here ..

You know how often I read posts and they're not even arguing the same thing?

Alotta people don't really care what you write/post. They have something they wanna say, already. It may speak to what you posted or not.

In a dispute, if you can get the person to repeat what they heard, you'd be surprised how often THEIR OWN filter didn't allow them to receive the message.

 

[Joe Money]

You said "Most wealthy people, PARTICULARLY millionaires." Bruh, if person ain't even got a million dollars OUTSIDE their primary residence, they ain't near wealthy.

And fam, this is 2021, not 1921. The Ivy League barrier isn't a thing any fucking more when the world is in the palm of everyone's hands. You seem to be on some boomer shit. I'm just some fool from Ohio with a felonious background and I'm on zoom meetings every fucking week with millionaires from across the fucking globe.

Guess how many of those millionaires ask me where I went to school? None. Zero. Zilch. Not fucking one. They don't give not one flying fuck.

Paying 50k a year to meet people is some grandpa shit in 2021. Going to have people chasing debt to connect. Jesus.


You see what that cat Tito is on? Debt. Willing to spend 50k a year for antiquated network channels for some employee perks. Bankers/elite used to own all the connects. What he is saying to do applied for people in their 40s and older, but doesn't apply for young people coming up now. In the 90s, I would have never been able to connect with the people my kids can now. Just wasn't possible unless you got lucky or went to the right schools.

And that's the problem with the black community. Always one fucking step behind the game. It's bad enough white people haven't caught on to the bankers hustle(and we all suffer for it). But to have black folks who haven't and who still believe(and push) antiquated systems is fucked all the way up.

I'm all for education. But folks no longer have to go into debt for it and the networking benefits schools once owned no longer apply in today's world. Meanwhile, the bankers game only going to make quality of life worse for those who don't play the game just like them.

I got those stuffed shirt cats in my family man. They mean well, but they really stuck in their ways.

Ivy league ain't shit but validation like the Oscars and Grammys and anything else white people deem as the pinnacle

Heeeeeey! Y'all are going too far with the shitting on the Ivy League!!! I'm an alumnus!

But y'all are right. In part, it's just a status symbol, but for many people who are already in a certain elite, it is a way of maintaining social ties and even marriages (MRS degree, etc). And for those who aspire to be in the elite, attending and Ivy or equivalent institution is a traditional way of entering it. Obama transferred to Columbia University for a reason. And we all know about the scandal with Lori Loughlin and others bribing to get their kids into USC and other elite schools. And on the graduate and professional levels, many traditional fields will automatically judge you, and accept or reject you, simply based on what school you went to.

However, gene is right, in that in this Information Age, what you actually know how to do takes precedence. But even Silicon Valley has pipelines to certain schools like Stanford and Carnegie-Mellon.

 

[roblo]

And no one is saying that you shouldn't. We're just saying to see and understand the bigger picture. You could be on a sinking ship but, since you moved to an upper deck, you may think you're "good."

I'm going to be one of the survivors from the shipwreck.

 

[BKF]

I'm going to be one of the survivors from the shipwreck.

Exactly... Instead of sitting at the bottom making death certain for yourself. Why not get to the top an try and make life your destiny.

Som people freeze in fear when in certain situations, while others act.

Being stuck in fear, being stuck in the problem, and not investing in solutions solves nothing.

 

[Joe Money]

I'm going to be one of the survivors from the shipwreck.

Exactly... Instead of sitting at the bottom making death certain for yourself. Why not get to the top an try and make life your destiny.

Someone people freeze in fear when in certain situations, while others act.

Being stuck in fear, being stuck in the problem, and not investing in solutions solves nothing.

Still doesn't address the topic at hand. Why do y'all insist on talking about individual decisions when we are discussing structural and systemic problems?

 

[BKF]

Still doesn't address the topic at hand. Why do y'all insist on talking about individual decisions when we are discussing structural and systemic problems?

One of the systematic problems is dwelling on the problems vs investing in solutions that don't involve waiting for the government to hand you solutions, or waiting for the collective of black folk to get it together. It takes individuals to confront the problems and find solutions to whatever problems they are facing to succeed.


I can't do shit for my family, friends, or associates if I can't help myself.

We have different collective organizations that were formed for the advancement of black folk. How is that working out?

Let's keep real though. There are way too many black folk who are their own damn problem. They are the product of years of repeated inferiority messages being pumped into their minds by their own folk before white folk even get the chance to do so.

 

[Supersav]

Still doesn't address the topic at hand. Why do y'all insist on talking about individual decisions when we are discussing structural and systemic problems?

That's the crux of this argument. Individualism vs the collective

 

[Joe Money]

One of the systematic problems is dwelling on the problems vs investing in solutions that don't involve waiting for the government to hand you solutions, or waiting for the collective of black folk to get it together. It takes individuals to confront the problems and find solutions to whatever problems they are facing to succeed.

What makes you think it's about the government "handing out" solutions?

I can't do shit for my family, friends, or associates uf I can't help myself.

We have different collective organization that were formed for the advancement of black folk. How is that working out?

Let's keep real though. There are way too many black folk who are there own damn problems They are the product of years of repeated inferiority messages being pumped into their minds by their own folk befire white folk even getvtge chance to do so.

"We our own worst enemy!" [insert Tariq gif]

What "individual" initiatives would make a drastic change in the stat below (assuming you even look at this kind of information)?

In 2019, the median wealth level for a white family with children in the US was $63,838. The same statistic for a Black family with children was $808.​

 

[Joe Money]

That's the crux of this argument. Individualism vs the collective

But these "individuals" don't seem to understand that they're still part of the collective, and are affected by the same issues that affect the collective. As I said earlier, they only compare themselves to baby mamas and niggas in the hood! Ask them to compare themselves to the white people they think they're on the same economic level as. They don't do this because it would be an epiphany for them that they don't want to acknowledge.

Remember when Chris Rock talked about how he thought he'd "made it"? Then he realized he was living next door to a white dentist?

 

[Soul On Ice]

First class to Hawaii. Must be nice.

Shiid. We got millionaires here while charter Jets to Maldives, and members who have their personal $50m Gulf Streams