Black Wealth Cratered Under Obama

[Pressure]

since when has class been determined by income or lifestyle professor?

Social class in the United States - Wikipedia

Social class in the United States is a controversial issue, having many competing definitions, models, and even disagreements over its very existence.[1] Many Americans believe in a simple three-class model that includes the "rich", the "middle class", and the "poor". More complex models that have been proposed describe as many as a dozen class levels;[2][3] while still others deny the very existence, in the European sense, of "social class" in American society.[4] Most definitions of class structure group people according to wealth, income, education, type of occupation, and membership in a specific subculture or social network. Most of the social classes entirely ignore the existence of parallel Black, Hispanic and minorities societies.

Sociologists Dennis Gilbert, William Thompson, Joseph Hickey, and James Henslin have proposed class systems with six distinct social classes. These class models feature an upper or capitalist class consisting of the rich and powerful, an upper middle class consisting of highly educated and affluent professionals, a middle class consisting of college-educated individuals employed in white-collar industries, a lower middle class composed of semi-professionals with typically some college education, a working class constituted by clerical and blue collarworkers whose work is highly routinized, and a lower class divided between the working poor and the unemployed underclass.[2][5][6]

 

[Pressure]

so if you have access to 100k in credit and are 200k in debt and you live a lifestyle based wholly off credit (as most black people with any semblance of money do), then somehow you are middle class?

How are you 200k in debt with only 100k in credit?

 

[SupremexKing]

How are you 200k in debt with only 100k in credit?

are credit cards the only form of credit? answer the question instead of analyzing semantics

 

[Rigby.]

I don't understand the point of this thread

alot of people like to think there was more Obama could've done for blacks specifically and exclusively, disregarding laws, checks and balances, etc

 

[Pressure]

are credit cards the only form of credit? answer the question instead of analyzing semantics

credit is credit.

Homeoan, car, credit card.

Is there some other form of credit that doesn't count as credit that allows you access to capital and also puts you in debt that you call something other than credit?

I'm not arguing semantics. I'm criticizing your math.

So I'll consolidate it.

Who do you know that has received 300k in credit who wasn't living a middle/upper middle class lifestyle?

Are you suggesting that someone who's making 150k a year and lives in a 300k condo is somehow lower class because they have debt?

 

[Pressure]

alot of people like to think there was more Obama could've done for blacks specifically and exclusively, disregarding laws, checks and balances, etc

Rep

 

[---]

Don't think Obama did a lot for black people at all.

At the same time presidents have a minimally effect on create jobs and wealth in any country. Federeal or Central Banks and their group decided how a country operates on a monetary basis.

In America the 12 federal banks and the chair have the most power over the economy and they don't have to listen to a word the president or any nation leader says. They will listen if they want to get appointed again at the same time they have complete autonomy.

If the federal reserve chairman says today in a statement, an interest rate hike of a full 5% from the place we are at now. Wealth creation stops and goes into preservation mode if you have no idea how to preseve wealth or no savings preservation become wealth evaporation quickly. Nothing a country leader can do about the hike as well. At the same time a lot central banks chiefs taking marching orders from the BIS. The bank of international settlements.

 

[Matriarchy Refugee]

Rep

Negged

 

[Pressure]

Negged

 

[Rigby.]

Negged

Absolutely shameful the way some of you guys disparage logic in these type situations is ridiculous. I see a ton of people capable of criticizing the guy for what he didn’t do, but how many of y’all are giving logical suggestions that have a fraction of a chance of making it against a hateful republican opposition? I mean ffs, the red side voted against plans that (on premise) helped the entire country, not just us. What do y’all think a bunch of old conservatives would’ve done on a bill such as “Divert large tracts of land to African Americans, no questions asked?”

 

[Calmye]

This say alot about George Bush actually

 

[Calmye]

And yet black people did better under him (economically) than under any other president or period. The point is that tying black people's economic success entirely to a president does not make sense. What matters is the business cycle and the overall health of the economy.

We're almost ten years from the last recession. Typically the US economy experiences a recession every ten years. Some are more extreme than others; the 08 one was the largest since the Great Depression. Housing prices are ballooning again. Credit is limited. Household debt is growing (student loans especially). It's only a matter of time before shyt goes bad. A lot of people just now recovered from the last one...not a good sign.

There's a small economic window between now and when automation makes UBI inevitable/essential. The more economic disaster we face, the worse off people will be. And if we don't get republicans out of office, you can really kiss UBI goodbye.

This isn't true at all

 

[Matriarchy Refugee]

Absolutely shameful the way some of you guys disparage logic in these type situations is ridiculous. I see a ton of people capable of criticizing the guy for what he didn’t do, but how many of y’all are giving logical suggestions that have a fraction of a chance of making it against a hateful republican opposition? I mean ffs, the red side voted against plans that (on premise) helped the entire country, not just us. What do y’all think a bunch of old conservatives would’ve done on a bill such as “Divert large tracts of land to African Americans, no questions asked?”

You got all of that from "Negged", huh?

 

[Rigby.]

You got all of that from "Negged", huh?

I just assumed you were being stupid which you just proved you were

 

[Quarquar]

It was a historic visit and speech.

I bolded the part you're referring to. Read what he said in the context of this passage.

Barack Obama’s Speech To Africa | TIME.com