There aren't even 400,000 black families worth $1 mil, why do we think we just need to work harder?

[Easy-E]

@High Information Militant

Another piece of context I failed to mention; there aren't a class of young upwardly mobile black people

Again, this thread is not to say no black person can achieve financial success

The problem is white people have 90% of this country's wealth through ill gotten means

Our ceiling is that 10% we share with other races--who didn't build this country and really only been here for 75 years

Most of that <400,000 are black folk between 51-71...boomers, people who generally raised all their kids and are in that last house they every gonna have

Those people don't build...they're trying to retire and spend only vacations and necessities

Yes, they may leave something behind for the younger generation; but, that generation is prolly gonna need that for student loans, credit debt to pay off their mortgage--do not fool yourself into thinking young white people pay for all of that on their own with zero help from their parents


I just wanted to add that to my post

 

[H.I.M.]

No 400,000 families making a million dollar families isn't enough. And that's not capital; that's worth. So you want these families to liquidate all their assets? Because that's what they'd have to do to access that.

There's no job, business or industry that pays you in fixed assets breh'ski.

Liquid or fixed, the point is they have the means, and more access to capital than most people on the planet. It's just not being allocated properly in a way benefits the collective.

Your issue should be with how and WHERE "Black wealth" is being allocated, not the lack of means.

Your right on your latter point; but, if you understand that, why are you talking as if that wealthy class will "save" black America?

Wasn't implied that they WILL "save Black America" it was an explanation as to why the community is so comparatively underdevoloped, because those with resources, skills, education etc. by and large, excommunicate themselves and abandon their communities to chase white status...a fractured, non-unified community is the #1 root of our socio-economic issues. Again, we have more than enough to build & sustain our own society if all of our resources were allocated properly, we have alot more avenues for socio-economic mobility than our forefathers, who just a few decades out of chattle slavery, built Tulsa, Harlem, Uptown DC, Durham etc. into thriving, self-sufficient communities, it's more of an issue of the lack of will & mentality to do so.

 

[Easy-E]

There's no job, business or industry that pays you in fixed assets breh'ski.

Liquid or fixed, the point is they have the means, and more access to capital than most people on the planet. It's just not being allocated properly in a way benefits the collective.

Your issue should be with how and WHERE "Black wealth" is being allocated, not the lack of means.



Wasn't implied that they WILL "save Black America" it was an explanation as to why the community is so comparatively underdevoloped, because those with resources, skills, education etc. by and large, excommunicate themselves and abandon their communities to chase white status...a fractured, non-unified community is the #1 root of our socio-economic issues. Again, we have more than enough to build & sustain our own society if all of our resources were allocated properly, we have alot more avenues for socio-economic mobility than our forefathers, who just a few decades out of chattle slavery, built Tulsa, Harlem, Uptown DC, Durham etc. into thriving, self-sufficient communities, it's more of an issue of the lack of will & mentality to do so.

Your speaking vaguely and generally about a nuanced and fluid issue. If Trump has his way, the bottom will fall out of black wealth. The media wealth is $5,000. White people own 90% of the wealth in this country. We owe 1% of the farmable land.That is not enough to sustain us.

Breh, you really think less than 400,000 families can "support" 40 million people in a capitalize society? What those pass example never had was political support. The KKK (basically white people should not have been able to destroy that community. They did because the state abandoned them.

Also, that was another time. What exactly can black people produce to get that wealth down to the black folk with that $5,000? Silicon Valley is displacing black people out of home and prove to be as racist as any other industry. My point is; with out government intervention (that we demand, not ask, march or beg for) we don't get a fair share in the wealth of this country (see Whitefish being the Prez homeboys).

Bruh, I'm not interested in discussion if black rich people exist.

Most of us are in danger of being a permanent under class.

 

[Easy-E]

Here we go, again

 

[Easy-E]

 

[hayesc0]

Only idiots and racist think we just need to work harder lol.

 

[#1 pick]

Great thread

 

[#1 pick]

Breh teach financial literacy



I know his pain

@NoChill Jones, you sound just like a Twitter nikka

 

[#1 pick]

We are being sabotaged and there is nothing that will be done. That's why we have to prioritise the young brehs and brehettes to study law, medicine, stem and become entrepreneurs.

Y'all don't realize it but there is only so few spots for Blacks in these majors and they are supremely talented and even then, it's hard to break into a industry. This game ain't made for most nikkas to win

 

[NoChillJones]

@NoChill Jones, you sound just like a Twitter nikka

Except I would provide evidence as to why I know what I stated to be fact. And you would be some finger pointing twitter fingers ass nikka trying to tell us all how your OPINION is king simply because you believe it to be.............

 

[#1 pick]

Except I would provide evidence as to why I know what I stated to be fact. And you would be some finger pointing twitter fingers ass nikka trying to tell us all how your OPINION is king simply because you believe it to be.............

you know damn well you don't provide shyt at least in relation to this

 

[8WON6]

Just imagine what's left out of that 400,000 once you subtract all the sports brehs/brehetts families.

 

[NoChillJones]

you know damn well you don't provide shyt at least in relation to this

Wipe my nut off ya chin breh.........we not on the same level and you on some petty hoe shyt right now. If you don't want to engage in actual conversation then stop mentioning me like some scorned ass bytch.

 

[DonMakavelli]

You can't save the majority because the majority thinks everything is okay. Matter of fact, most don't even understand the difference between WEALTH and INCOME. It's crazy and i don't even waste time trying to explain it, at our age (i'm 27) you should know the difference. You should know finance and the meaning of certain terms.

Black men who don't want to be average really don't owe anything to the brothers who want to be. You don't have time to explain this stuff to them. They want to be nothing more than average. They are satisfied with an average job and being an average joe. Being average is "black excellence" to them.

That is why if you mention black wealth dropping, average nikkas always say, "WHAT YOU MEAN? I GOTS ME A JOB" Your job is INCOME, not WEALTH. If you unexpectedly lost your job today, how long would you be able to survive without it? How long would you be able to pay your bills and feed yourself? That's the difference between wealth and a job/income.

My crew/circle/group whatever you want to call it is small, on purpose. Because i'm not average and don't wanna be. And I don't fukk with average/mediocre black people, who are satisfied with a little job and apartment.

Average nikkas always claim they're "doing good" but they have an average job working for cacs, no assets, etc. How is some mediocre job that you could lose at any moment "doing good"? I have a different definition of doing good than most of these nikkas. "Doing good" is about ownership. Businesses, real estate, stocks and bonds. Not a little job and some trinkets.

 

[DonMakavelli]

"Income is the amount of money someone receives on a regular basis, while wealth is the length of time that person (or family) could maintain their current lifestyle without receiving compensation for performing additional work"

"In economics, wealth is the net worth of an individual, that is, the value of all his assets minus all his liabilities. It includes all his assets such as money, real estate, and personal property. It is the product of one’s labor which satisfies all his needs and wants.
While wealth represents what a person owns, income is what he earns, and it consists of the inflow of cash. In the long run, income creates wealth if it is properly managed. A person may have a huge income, but if he doesn’t save, he will not be able to accumulate wealth."