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re: Study: large portion of racial wealth gap is due to spending habits
Posted on 2/6/22 at 8:40 am to HailHailtoMichigan!
Posted on 2/6/22 at 8:40 am to HailHailtoMichigan!
The problem lies with who established the scoring criteria. Who says saving money is better than spending?
Flip the script and the winners.
If it's better to enjoy life and spend more on visible items than it is to accumulate wealth, then blacks are the winners. They are way out in front, followed by Hispanics with whites and Asians pulling up the rear. Whitey needs to be asking why he doesn't have nice things like Blacks do.
Flip the script and the winners.
If it's better to enjoy life and spend more on visible items than it is to accumulate wealth, then blacks are the winners. They are way out in front, followed by Hispanics with whites and Asians pulling up the rear. Whitey needs to be asking why he doesn't have nice things like Blacks do.
1
Posted on 2/6/22 at 8:42 am to Woolfpack
quote:to make it look like an animal is nesting on her head?
I think the average black woman spends something like 3k a year on her hair.
Posted on 2/6/22 at 8:51 am to fr33manator
quote:
to make it look like an animal is nesting on her head?
Well, it is horse hair.
Posted on 2/6/22 at 9:03 am to PrimeTime Money
I bet that gap between Asians and whites is widening at a rapid rate. I’m only voting for, hiring, and fathering children with Asians from now on - that feels like it might be kind of racist of me, but our president routinely narrows down his candidates for important positions based strictly on race and gender so I must be ok.
Posted on 2/6/22 at 9:04 am to HailHailtoMichigan!
Low time preference is the basis of civilization.
Hoppe figured this out years ago.
One of the most important books you could ever read:
Democracy: The God That Failed
Hoppe figured this out years ago.
One of the most important books you could ever read:
Democracy: The God That Failed
Posted on 2/6/22 at 9:06 am to Philzilla2k
quote:
Well, it is horse hair.
Sometimes it’s From chinese slaves.
From Uighurs to…well, it’s an awful practice.
Posted on 2/6/22 at 9:16 am to Chucktown_Badger
quote:
Because they are the ones who were the biggest recipients of the handouts.
Posted on 2/6/22 at 9:45 am to HailHailtoMichigan!
Why the 40% difference in income levels? To think, that is benchmarked against a broad range "whites", including far too many whites who are underachieving. Far too many.
Income conversion to wealth for everyone is critically missing in the U.S. consumerism mindset, and this exists at all socioeconomic levels.
If I were king, build the capabilities that enable higher income levels for all. Provide incentives to build wealth (in part by taking away incentives to not build wealth). And encourage all that life is short; we are we, not us and them. We all benefit when the whole gets larger.
Income conversion to wealth for everyone is critically missing in the U.S. consumerism mindset, and this exists at all socioeconomic levels.
If I were king, build the capabilities that enable higher income levels for all. Provide incentives to build wealth (in part by taking away incentives to not build wealth). And encourage all that life is short; we are we, not us and them. We all benefit when the whole gets larger.
Posted on 2/6/22 at 9:50 am to HailHailtoMichigan!
Bling bling dawwwwwg
Come on mane
Come on mane
Posted on 2/6/22 at 9:53 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)?
A lot of those were born in another country that didnt hand out cash to single mothers.
Even in a place like Australia where the government pays for child care, they have a work requirement. We were just giving 6k to people without income for their child.
This post was edited on 2/6/22 at 9:55 am
Posted on 2/6/22 at 9:54 am to HailHailtoMichigan!
Hell, that’s common knowledge
Posted on 2/6/22 at 9:59 am to DamnGood86
quote:
The problem lies with who established the scoring criteria. Who says saving money is better than spending?
Well the generational wealth. Black people will say they cant have generational wealth because of slavery.
Yet the black families that were given land and didnt sell it are much better off.
So if you spend all your money your kids dont get any, And the cycle continues.
Posted on 2/6/22 at 10:00 am to HailHailtoMichigan!
The other factor is absolutely single parent households. Extremely difficult to generate wealth with only one income, multiple kids and a horrible public education.
The study also basically confirms that if you embrace and celebrate thug culture, you will end up with a whole lot of thugs.
The study also basically confirms that if you embrace and celebrate thug culture, you will end up with a whole lot of thugs.
Posted on 2/6/22 at 10:07 am to Rebel
quote:One might review the results over the past sixty years for the way to NOT do it.
How do white peoples fix black peoples spending habits?
Imagine you were a high-achieving African-American who made all of the right choices: Didn’t do hood rat things as a kid, stayed in school, maybe worked through college, post-graduate degree in a legitimate discipline (not pseudoscience bs), worked responsibly in their field and worked their way up the ladder, was financially disciplined, eventually made their way to a comfortable existence.
What would your perspective on this issue be? You would have peers or family or friends who were the stereotypical underperformers that you had to deal with.
Personally, I’d be pissed at them for their lack of impulse control and the general propensity in the clan (c not k) to blame personal failings on society. I think I’d share that displeasure with them.
But how to mentor others in this victim climate?
Never considered this before, thanks OT, this is something I can ponder and when I figure out a way to help them I’ll actually help the situation.
Posted on 2/6/22 at 10:30 am to HailHailtoMichigan!
“I’m from the south, I got them diamonds in my mouth”
Posted on 2/6/22 at 10:31 am to Smeg
quote:
So people who have lots of money know to save money instead of blowing it on stupid shite. Shocker
Holy shite are you stupid.
quote:
blacks with comparable incomes to whites
This isn't poor blacks vs. rich whites. It's same income brackets being compared.
Income isn’t the same thing as accumulated wealth, idiot.
If you make $100k/year and blow most of your take home pay on entertainment and bling, you won’t have much accumulated wealth compared to a person who saves most of that money.
This post was edited on 2/6/22 at 11:47 am
Posted on 2/6/22 at 10:44 am to mtntiger
quote:
The other factor is absolutely single parent households. Extremely difficult to generate wealth with only one income, multiple kids and a horrible public education.
This to me is the key issue. By every measurable statistic of success and happiness it is better for kids to have two parents in the household and in their lives. Black people are born out of wedlock at 70%, seventy freakin percent! Until they figure this out problem our then nothing will improve for them and there’s nothing the federal government can go to fix it (although they did kind of create the problem).
Posted on 2/6/22 at 10:48 am to HailHailtoMichigan!
Muh bling
Muh drip
Muh drip
Posted on 2/6/22 at 10:49 am to PrimeTime Money
quote:
Every single ranking of anything in this country always goes like this:
Asians
Whites
Hispanics
Blacks
No one even bothers mentioning the Indians anymore. I blame Land O' Lakes for that shite
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