That’s commendable .
Ling Ling spills the tea
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Captain Crunch
Veteran
It's one thing if her advice was valid(it isn't), but it's another thing to try to shame people with advice when you sell sex.
Report: Dreams Deferred - Institute for Policy Studies
That broad trying to shame us to do group economics, when over a 1/3 of black people have no wealth. That number doesn't even specify ADOS, if you exclude immigrants from black wealth numbers, then the amount is way more dismal. Darity's "Color of Wealth" illustrated that in Boston; Miami, and LA.
The Median Net Worth of Black Bostonians Is Lower Than the Cost of Lunch
What "group economics" can ADOS do when more than 1/3 are wealthless, and our wealth levels are as low as $8(Boston) and $11(Miami)? Again this is the advice, this stripper is trying to shame AA into doing, she is suggesting us to do shyt that is not feasible when you look at our wealth data.
Elle Driver
Veteran
My mom used to be in different su su’s. That’s how she was able to build some wealth.
Anyone taking her post serious is a fukking idiot. Group economics can be done in our community. You just have to find the right people.Once again you're a fukking stripper trying to talk down to AA's.
If we need input on building wealth or black economics, we have Ramsey or Dr. Darity to listen to. I think the last person, we should listen to is someone who gives private dances, and is more than likely not ADOS.
When I got basketball shorts on and a pack a 1's, Imma go holla at you... until then you're not needed
I have several ventures with various bm and bw. Fortunately we don’t have bum ass individuals in our circle. I’ve also noticed that when everyone has a problem with you, YOURE most likely the problem.
Cynically, bitter and jaded people like her are horrible for business. NEVER partner or do business with someone like that.
Thats actually how they destroyed all those black hair care busineses (that made hair straightening comes, wigs and etc). Many of these black busineses had been around since the 30s. By the 90s to early 2000s they were all gone.
Because of multiple things. Because manufacturers moved to china to make products cheaper, countries like korea giving their folks loans to go into certain busineses (like hair products), Chinese and korean companies stealing proprietary designs (like one black designer who made a specific curling iron) and sisters were buying from asians shops instead of the black shops because their products were cheaper.
Also there was a documentary done on this back in the 2000s.
I said on here before the greatest damage done to the black middle class and to black businesses over the last 45 years. Has been the moving of manufacturing and production over seas (especially to places like china). If you don't believe me you can look in the midwest and see how many factories that use to be in black neighborhoods and employ black people. Moved overseas and are now producing products over there.
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The US government literally bombed us when we tried to collectively come together financially. None of these other "groups" quite understand how the US government has systematically destroyed black collectivism from day one.
Biscayne
Ocean air
10k is alot of money breh.if you can't figure out where to get 10k you need to sit down in the game of life
"can't get money on an earth this big, you worthless kid, nikka don't deserve to live"
- Cam'ron's uncle
you want to be literally spoon feed...
Every culture does their own form of Susu. But folks start off small by contributing about 150 a week or every two weeks. Telling ppl(ADOS for that matter) that they worthless if they can't get 10k, is very tone deaf of you breh.
jwonder
Superstar
Nothing new. Caribbean people do the same concept all the time. It's called Sue Sue money. I'm sure I didn't spell it right. African Americans are too busy trying to outdo each other, so it will never happen as whole.
TELL ME YA CHEESIN FAM?
I walk around a little edgy already
Most people ain't got 5k..let alone 10k
Other races can easily get that from loans or family members
We have already had this conversation and I have already corrected you. Please get a life. You're one of the dumb ass people i'm talking about. Not worth a damn and too busy trying to talk shyt about another person. I've started numerous businesses and have had 3 partnerships. In the middle of starting a new one now. I'm more qualified to talk about it than you. So kiss my whole ass while I block you.Once again you're a fukking stripper trying to talk down to AA's.
If we need input on building wealth or black economics, we have Ramsey or Dr. Darity to listen to. I think the last person, we should listen to is someone who gives private dances, and is more than likely not ADOS.
When I got basketball shorts on and a pack a 1's, Imma go holla at you... until then you're not needed
NZA
LOL
im pretty sure these community loans dont involve 100% of the people from their home countries. these immigrants are typically coming from some of the most disciplined and capitalized segments of the society they came from and they share the same agenda of succeeding in a foreign country. they dont expect the ratchets and conmen of seoul or beijing to do right by them.
when people try to question why ADOS dont do this, they have to acknowledge that we have practically no class stratification due to our unique history here, so we would have to go through the step of creating something akin to class stratification so that there is more trust and purpose. hotep ADOS do this with crowd funding like with dr umar's "school". if there was something like hoteps but with business minded people, it might work. might be easiest to do it at a black church as long as the preacher isnt an eddie long type.
when people try to question why ADOS dont do this, they have to acknowledge that we have practically no class stratification due to our unique history here, so we would have to go through the step of creating something akin to class stratification so that there is more trust and purpose. hotep ADOS do this with crowd funding like with dr umar's "school". if there was something like hoteps but with business minded people, it might work. might be easiest to do it at a black church as long as the preacher isnt an eddie long type.
This is why you got to do for self. In this business world, it's either kill or be killed. This practice has been going on for ages regardless of ethnicity. In this time and age, you got to move differently or else you will get ran up on.
Honestly I don't remember if you ever insulted me and no one on this forum has even made me feel less than. I take most of it as jokes.
However my experience on this forum has made me realize that BP are their worse enemy and that many do the job of White supremacy but disguise it at Black pride. I left group economics behind. It's really something hard to achieve in this community.
But I do appreciate the apology. I really do.
Jamaican Emigres Bring Thrift Clubs to New York
June 19, 1988
When Monica Foster arrived in Brooklyn from Jamaica in 1968, she started saving to buy a home, but she did not open a bank account. Like many Caribbean immigrants, she joined a partnership, or savings club, run by her family and friends, ''throwing a hand'' of $100 a week.
In the next 20 years, that $100 a week paid for a house on Long Island and the furniture in it, and it put her children through college. But Mrs. Foster, an office supervisor for a window contractor in Brooklyn, still throws her hand every Saturday.
''When I get my paycheck, the first money I take out is my hand,'' said Mrs. Foster, who joined her first partnership as a young girl in rural Jamaica. ''I don't think I'd be disciplined enough to do that on my own every week.''
Caribbean-Americans began to enter the middle class in force in the 1960's. But clubs like Mrs. Foster's, known as susus, are still the preferred form of saving, even though they pay no interest. Feature of Immigrant Groups
Susu is a form of cultural expression for Caribbean-Americans of all economic classes, said Philip Kasinitz, an assistant professor of sociology at Williams College. He has studied susus in the 400,000-person West Indian community in Brooklyn. Observers estimate that in Brooklyn alone there are thousands of susus.
''It has one foot as economic-survival strategy and one foot in the ethnic, social side,'' Professor Kasinitz said. Many groups, including Asian, African and Hispanic immigrants, faced with poor language skills, virtually no access to bank loans or lack of financial savvy, have similar savings clubs, known sociologically as rotating credit associations, Professor Kasinitz added.
''It's an adaptive mechanism, cultural baggage brought from the old country,'' said Dr. Aubrey W. Bonnett, a sociologist and a dean at California State College at San Bernadino. Dr. Bonnett, a native of British Guyana who met the down payment on his first house through a susu, wrote a book about susu in 1981, while studying sociology at the City University of New York.
Taken to the West Indies in the 18th century by Nigerian slaves, the word ''susu'' derives from ''esusu,'' a Yoruban expression meaning economic cooperative. Susus were initially used to organize labor cooperatives. Neighbors would lend a hand harvesting sugar cane, or building a house, hence the term for the weekly contribution in modern-day susus. #10 to 15 Partners In the last decade, the Caribbean community in New York, and susus, have boomed. The number of Jamaicans in New York nearly tripled between 1980 and 1986, according to the Mayor's Office for Minority Affairs. At least 75 percent participate in some form of susu, Dr. Bonnett said. Although susus vary from island to island, the basic components are always the same. Ten to 15 partners, most often women who are close friends, contribute a hand averaging $50 a week. Each week, a different partner draws the total. Partners can specify when they want to collect to meet particular needs.
Generally, partners drop off their cash at the ''banker's'' house on Saturday nights, and the person receiving the week's total comes to collect on Sunday mornings. No interest is paid, and often as not, the banker receives no fee.
''It's a thrift institution on a semicompulsory basis,'' said Martin McQuilken, president of Lords & Commons, a financial concern in Queens. As a schoolteacher in his native Grenada, Mr. McQuilken found that banks refused to lend to him and his colleagues, and they turned to susus when they needed to pay off debts or to buy a television.
''Susu is not a formal thing,'' Mr. McQuilken said, noting that even though no written accounts are made - indeed, hands are almost always thrown in cash - the rate of default is negligible. ''It's just a matter of trust.'' 'Means of Thrift'
''Most of these things tend to stay small,'' Professor Kasinitz said. ''If you get too many people involved, the trust mechanism breaks down.''
''It's a means of thrift,'' said the Rev. Ivan Roberts of the Grace United Methodist Church in the Park Slope area of Brooklyn. Mr. Roberts, whose congregation is 90 percent Caribbean, said many of his parishioners were involved in box hands, as susus are known in his native Guyana.
''It's for poor people who need a refrigerator,'' he said. ''Or they're having a wedding and they don't have the money, or when they go on a vacation.''
Susus also deserve partial credit for the impressive number of small businesses started by Caribbean-Americans. Brooklyn neighborhoods such as East Flatbush seem to resemble Caribbean towns.
''Wherever you find small businesses, you'll find susus have played a pivotal part,'' Dr. Bonnett said. ''It's been a major source of capital formation among black West Indians.'' 'Half-Step to Capitalism'
A recent emigrant from Jamaica to Brooklyn who asked not to be identified said she planned to start a seamstress shop near her home, using the money from her susu for start-up money.
''It's been analyzed as a half-step to capitalism, in the sense that it's nonprofit banking,'' Professor Kasinitz said. ''It's what they teach you in business school can't happen.''
Despite the continued growth of the Caribbean-American population - it receives one-third of the 90,000 green cards a year issued in New York for resident aliens, according to the City Planning Department - its assimilation into the middle class might spell the end of susu. Only 25 percent of second-generation Caribbeans participate in susus, compared with 72 percent of first-generation Caribbeans, Dr. Bonnett said.
''The ethnic social side tends to outlive the economic side,'' Professor Kasinitz said. He added that susus might go the way of the Korean ''kye,'' once an important source of capital for Korean small businesses, but now more often used to pay for social occasions.
''I live in the suburbs and I still do it,'' Mrs. Foster said. ''But I don't see my children going into it. My kids do C.D.'s.''
June 19, 1988
When Monica Foster arrived in Brooklyn from Jamaica in 1968, she started saving to buy a home, but she did not open a bank account. Like many Caribbean immigrants, she joined a partnership, or savings club, run by her family and friends, ''throwing a hand'' of $100 a week.
In the next 20 years, that $100 a week paid for a house on Long Island and the furniture in it, and it put her children through college. But Mrs. Foster, an office supervisor for a window contractor in Brooklyn, still throws her hand every Saturday.
''When I get my paycheck, the first money I take out is my hand,'' said Mrs. Foster, who joined her first partnership as a young girl in rural Jamaica. ''I don't think I'd be disciplined enough to do that on my own every week.''
Caribbean-Americans began to enter the middle class in force in the 1960's. But clubs like Mrs. Foster's, known as susus, are still the preferred form of saving, even though they pay no interest. Feature of Immigrant Groups
Susu is a form of cultural expression for Caribbean-Americans of all economic classes, said Philip Kasinitz, an assistant professor of sociology at Williams College. He has studied susus in the 400,000-person West Indian community in Brooklyn. Observers estimate that in Brooklyn alone there are thousands of susus.
''It has one foot as economic-survival strategy and one foot in the ethnic, social side,'' Professor Kasinitz said. Many groups, including Asian, African and Hispanic immigrants, faced with poor language skills, virtually no access to bank loans or lack of financial savvy, have similar savings clubs, known sociologically as rotating credit associations, Professor Kasinitz added.
''It's an adaptive mechanism, cultural baggage brought from the old country,'' said Dr. Aubrey W. Bonnett, a sociologist and a dean at California State College at San Bernadino. Dr. Bonnett, a native of British Guyana who met the down payment on his first house through a susu, wrote a book about susu in 1981, while studying sociology at the City University of New York.
Taken to the West Indies in the 18th century by Nigerian slaves, the word ''susu'' derives from ''esusu,'' a Yoruban expression meaning economic cooperative. Susus were initially used to organize labor cooperatives. Neighbors would lend a hand harvesting sugar cane, or building a house, hence the term for the weekly contribution in modern-day susus. #10 to 15 Partners In the last decade, the Caribbean community in New York, and susus, have boomed. The number of Jamaicans in New York nearly tripled between 1980 and 1986, according to the Mayor's Office for Minority Affairs. At least 75 percent participate in some form of susu, Dr. Bonnett said. Although susus vary from island to island, the basic components are always the same. Ten to 15 partners, most often women who are close friends, contribute a hand averaging $50 a week. Each week, a different partner draws the total. Partners can specify when they want to collect to meet particular needs.
Generally, partners drop off their cash at the ''banker's'' house on Saturday nights, and the person receiving the week's total comes to collect on Sunday mornings. No interest is paid, and often as not, the banker receives no fee.
''It's a thrift institution on a semicompulsory basis,'' said Martin McQuilken, president of Lords & Commons, a financial concern in Queens. As a schoolteacher in his native Grenada, Mr. McQuilken found that banks refused to lend to him and his colleagues, and they turned to susus when they needed to pay off debts or to buy a television.
''Susu is not a formal thing,'' Mr. McQuilken said, noting that even though no written accounts are made - indeed, hands are almost always thrown in cash - the rate of default is negligible. ''It's just a matter of trust.'' 'Means of Thrift'
''Most of these things tend to stay small,'' Professor Kasinitz said. ''If you get too many people involved, the trust mechanism breaks down.''
''It's a means of thrift,'' said the Rev. Ivan Roberts of the Grace United Methodist Church in the Park Slope area of Brooklyn. Mr. Roberts, whose congregation is 90 percent Caribbean, said many of his parishioners were involved in box hands, as susus are known in his native Guyana.
''It's for poor people who need a refrigerator,'' he said. ''Or they're having a wedding and they don't have the money, or when they go on a vacation.''
Susus also deserve partial credit for the impressive number of small businesses started by Caribbean-Americans. Brooklyn neighborhoods such as East Flatbush seem to resemble Caribbean towns.
''Wherever you find small businesses, you'll find susus have played a pivotal part,'' Dr. Bonnett said. ''It's been a major source of capital formation among black West Indians.'' 'Half-Step to Capitalism'
A recent emigrant from Jamaica to Brooklyn who asked not to be identified said she planned to start a seamstress shop near her home, using the money from her susu for start-up money.
''It's been analyzed as a half-step to capitalism, in the sense that it's nonprofit banking,'' Professor Kasinitz said. ''It's what they teach you in business school can't happen.''
Despite the continued growth of the Caribbean-American population - it receives one-third of the 90,000 green cards a year issued in New York for resident aliens, according to the City Planning Department - its assimilation into the middle class might spell the end of susu. Only 25 percent of second-generation Caribbeans participate in susus, compared with 72 percent of first-generation Caribbeans, Dr. Bonnett said.
''The ethnic social side tends to outlive the economic side,'' Professor Kasinitz said. He added that susus might go the way of the Korean ''kye,'' once an important source of capital for Korean small businesses, but now more often used to pay for social occasions.
''I live in the suburbs and I still do it,'' Mrs. Foster said. ''But I don't see my children going into it. My kids do C.D.'s.''
