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re: Study: large portion of racial wealth gap is due to spending habits
Posted on 2/6/22 at 4:15 am to HailHailtoMichigan!
Posted on 2/6/22 at 4:15 am to HailHailtoMichigan!
So you mean to tell me that there is a reason that payday loan, rent to own furniture, and liquor stores all reside in predominantly black low income areas? This is shocking I tell you and it can't be true. A large part of it is culture and having zero impulse control. When you are willing to accept share cropper math to purchase a TV that you will end up paying 4 to 5 times what it is worth over an extended period of time and had you waited a month or two you could have purchased it outright than yeah that is an ignorance and cultural issue. When you blow your tax refund instead of saving some of it and paying off bills with the rest than that is a cultural issue. Is it every black person? No of course not just like not every Asian or White person has good spending and financial habits ,but overall it is true.
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Posted on 2/6/22 at 4:28 am to HailHailtoMichigan!
How do white peoples fix black peoples spending habits?
Posted on 2/6/22 at 5:02 am to HailHailtoMichigan!
Every single ranking of anything in this country always goes like this:
Asians
Whites
Hispanics
Blacks
Asians
Whites
Hispanics
Blacks
Posted on 2/6/22 at 6:04 am to HailHailtoMichigan!
quote:
Study: large portion of racial wealth gap is due to spending habits
Won’t matter… now give them your unplanned tithing.
Posted on 2/6/22 at 6:22 am to MJackson
quote:
my only question is why did it affect blacks at a disproportionate rate, compared to almost every other racial group (hispanics, caucasians, indians/pakistanis, east asians, africans, etc)?
Culture?
Posted on 2/6/22 at 6:24 am to BigDropper
quote:
Perpetual Sudden Wealth Syndrome
See NFL and NBA players for confirmation.
Posted on 2/6/22 at 6:34 am to PrimeTime Money
quote:
Every single ranking of anything in this country always goes like this:
Asians
Whites
Hispanics
Blacks
Which there is a simple scientific explanation for rejected by the party of Science deniers.
Posted on 2/6/22 at 6:37 am to HailHailtoMichigan!
The first Essence Fest included a financial seminar that hammered this point.
Posted on 2/6/22 at 6:44 am to Strannix
Which race have democrats pimped out for much of the economic growth in the past 50 years? All you need to know…. They can’t do anything but destroy lives… unfortunately for black folk, dims have set them back decades….
Posted on 2/6/22 at 6:51 am to HailHailtoMichigan!
Posted on 2/6/22 at 7:02 am to MJackson
quote:
my only question is why did it affect blacks at a disproportionate rate, compared to almost every other racial group (hispanics, caucasians, indians/pakistanis, east asians, africans, etc)?
I think you can really only compare blacks and whites here. All the other groups came from overseas and were generally the same types of people as the first colonists - Independent, hard working individuals who were striving to create a better life for their families.
Blacks were fed the victim mentality from an early age and whites weren't and I think that's some of it. But the main thing is the same thing that happens to anyone when you give them something they didn't earn - they blow it because they don't respect the sacrifices most people had to make to achieve it
Posted on 2/6/22 at 7:12 am to HailHailtoMichigan!
Well...no shite
Posted on 2/6/22 at 7:14 am to Yeti_Chaser
quote:
But the main thing is the same thing that happens to anyone when you give them something they didn't earn - they blow it because they don't respect the sacrifices most people had to make to achieve it
I think it's just poor role models, and there's most likely some genetic component to impulsivity.
Posted on 2/6/22 at 8:14 am to HailHailtoMichigan!
To quote Granddaddy BB - Dey drives heavy and eats light-
And this was 40 years ago and has only gotten worse.
And this was 40 years ago and has only gotten worse.
Posted on 2/6/22 at 8:16 am to Rebel
quote:
How do white peoples fix black peoples spending habits?
White people should open up savings accounts for their black neighbors.
Posted on 2/6/22 at 8:21 am to Chucktown_Badger
Get those facts out of here 
Posted on 2/6/22 at 8:27 am to Rebel
quote:send them a set amount on the 1st of every month so that we know for sure they will have money fa dey boost mobile don’t get turnt off
How do white peoples fix black peoples spending habits?
Posted on 2/6/22 at 8:29 am to HailHailtoMichigan!
This thread reminds me of this patient I had at one time. He owned a strip club in metro Atlanta in the suburb of Doraville. He's an Italian guy from New York City and he told me on one of his visits to my practice that his business was making good money, but it didn't truly take off until he hired more black strippers. Why? The brothers started showing up and he said they love to show off in front of their friends how successful they made it by spending a lot of money in front of them or spending money on their friends to have a good time. He had to close shortly after one of his security detail employees was killed in the parking lot after an altercation inside the club.
Posted on 2/6/22 at 8:35 am to MJackson
quote:
my only question is why did it affect blacks at a disproportionate rate, compared to almost every other racial group (hispanics, caucasians, indians/pakistanis, east asians, africans, etc)?
I think that “delayed gratification” and “acting responsibly” are closely related concepts, perhaps indivisible even though distinct.
It is very difficult to instill responsibility, which involves an internal locus of control, if a person learns/is taught that they are a perpetual victim, which is an ideation founded on external locus of control.
In a nutshell: We MUST stop treating black people like victims, and they NEED to stop seeing themselves as victims, if they will ever be able to reach equality.
Posted on 2/6/22 at 8:36 am to HailHailtoMichigan!
This seems to be done with care, provided tracking and statistics done from an impartial group = RACIST
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