Black Wealth Cratered Under Obama

[Professor Emeritus]

This proves the same thing I've said before.

Obama was simply a Democratic politician. A particularly smart, competent one, with a decent amount of integrity and no particular unusual faults. Compared to other presidents he was pretty good.

But he wasn't who I thought he was when I helped to elect him in 2008. The things that really need to change in this country, didn't change. He was still a business-as-usual president, concerned with the survival and power of the Democratic party before all else.

 

[Ricky Fontaine]

My business did well.

Black people keep working for paychecks instead of creating cash generating businesses (legal ones) and creating jobs. Someone gotta sacrifice to put people on.

Ya'll keep reading your doomsday stats, I'll keep building and maybe I'll throw a few of you a job to make me more money,

And your business could be GONE in the next recession (which is coming soon)

I'm glad a brother owns something for himself but ya'll uppity nikkas need to stop with this "open your own business" rhetoric.

It helps but black people's economic hardships extend much further than entrepreneurship.

You got a little piece of what the white man got and now you think you're equal not realizing the rug can get pulled out from under you at any second.

 

[DynamoEAR]

The part about child soldiers is ironic as fukk now considering what he did later.

 

[Loose]

The Fed chair typically is the same ideologically regardless of party, should tell you something.

As for the supposed recession, read David Stockman's The Great Deformation, to see a glimpse of how politics plays a hand in guiding the Fed. If you want it let me know I'll post it for you

This is correct, fed chairs ideology is typically on par with the presidents agenda

 

[SupremexKing]

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.

all jews

 

[Booker T Garvey]

this discussion is too fascinating:

Research Study: "This is what happened to black wealth under Obama"

Black America: ".....what IS wealth really though, i mean, how do we determine that? is it time to re-evaluate this term? let's discuss."

we're on a whole new level of lost in 2017 man

 

[Perfectson]

are you black?

Lmfao , here we go.

When someone can't argue facts on thus site , they go into race baiting. I've been negged and called c00n and cac already .

Remove race and color and stand on your own two and argue facts. What I'm staying has nothing to do with my experiences or your experiences. The question was whether Obama did anything for blacks, period. Debate the facts and don't use race as some sort of crutch

This is that liberal weakness, you can't win so you start using race instead of your intellect and knowledge.

 

[Perfectson]

obama put money directly in the hands of the same people responsible for the recession.

the recession is best summated as the transfer of wealth from the poor to the wealthy, with the majority of these wealthy people being white and/or jewish.

you can try to blame black people for our issues all you want, the facts and history prove otherwise.

This again is a lie. He let many of these guys fails and fall, he selective chose industries that did employ the common people like automobile industries , he obviously ensured banks were well structured cuz if America collapsed then it's bad for everyone. Again, he didn't go take 1B and go directly in the hoods and drop piles of cash in black people's laps - if that's your contention then you win. He did the smart thing, the right thing, and while everyone suffered due to actions of a few predatory practices, he made sure those guys paid and that better safeguards were put on place.
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You had stock brokers who were taking jobs at McDonald's to survive. And it's evident in the loss of white wealth during the recession. Blacks weren't in a position prior the recession to rebound like white people were but every other social metrics shows improvement in areas Ike black middle class, graduation rates frim high-school and college, and employment rates. All that to say is younger blacks made significant strides under Obama professionally and academically and that is the foundation for change in our economic status in America

 

[Perfectson]

And your business could be GONE in the next recession (which is coming soon)

I'm glad a brother owns something for himself but ya'll uppity nikkas need to stop with this "open your own business" rhetoric.

It helps but black people's economic hardships extend much further than entrepreneurship.

You got a little piece of what the white man got and now you think you're equal not realizing the rug can get pulled out from under you at any second.

Lmfao man how dare you neg me ,first of all. When you're out here with this crab in a barrel mentality.

Everyone that dapped this guy are crabs, straight up. Yall are the haters of the community , this guy's talking about owning a business and employing blacks and you over there telling him it's not real. Youre almost begging for his downfall. It's sick, demented , and I'm nauseous reading it. Wish we had 1000 more brothers like @Momentum vs sick ignoramuses like you guys

 

[Perfectson]

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?

You're right credit is credit, your debit to equity ratio is based on installment, revolving, and other forms of credit which the 3 credit agencies have in your file. Now there is other forms of debt to equity erosion related to business and extension of assets that you can make where you lose equity that can impact being in debt with low credit lines. But would like the OP to explain how he is in his predicament

 

[Real N Quotes]

New Fed Data: Black Wealth Cratered Under Obama


thanks Obama

Dodd-Frank Bill destroyed Black small businesses and home ownership which is the milk and honey of every Black Community

Brehs you should REALLY read this Bill. Your opinions of Obama' s Presidency will really change.

 

[Easy-E]

if i didn't refute anything then how do you have a response?

You agreed with my 1a and 1b, which was a refute to your first point

2. He's not the judicial branch, again he pressed his administration to go after and enforce regulations and created laws around this.

3. The Tel Com Act isn't the same as getting more brothers ad dollars, cmon man. I seen more black faces on and in advertising over the past 10 years, so i'm not even sure if what you're saying is accurate but that's not Obama's fault nor am I giving him credit if there was improvement in the space.

4. those were cases that violated federal civil right statues and also cases where it was deemed local/state police acted in a corrupt manner. But they the executive branch can't tell local law enforcement who or how they can hire. Imagine that - you trying to start a civil war?

5. He got a law passed. but at the end of the day, we are talking about crimes here. And Obama actually made those crimes more a public health issue than punitive crimes. He put more money into treatment and prevention then in law enforcement - he doesn't get credit for this work but its there in black and white.

And of course the do nothing congress was the reason he couldnt' get the sentences even lower....but his fault for that too right? he even told federal prosecutors to out-right ignore drug abusers.

The Attorney General's Smart on Crime Initiative | DOJ | Department of Justice

What you first are proving is; yes, it's short sided to put this all on Barack Obama. We do have to exercise state and fed politcals. I also need to get on less famous members of the Democratic Party.

I'll give you that.

3) Semantics. I know he's not going to put money in our pockets. But, look at Byron Allen's case against AT&T, we've got a problem there. There's a reason white people think we're just complaining and should be happy. The image of black people is so out of wack.

4) Like my intro; time to start looking at more local Dems...well nowadays Republicans--fukk it, both

5) I'll repeat a post; you get it down 82, you can get it down to 0. That is a racist law.

 

[Perfectson]

Dodd-Frank Bill destroyed Black small businesses and home ownership which is the milk and honey of every Black Community

Brehs you should REALLY read this Bill. Your opinions of Obama' s Presidency will really change.

1) dodd-frank was said to have impacted small community banks and credit unions. Your statement is a bit misleading but just so everyone understand what you're alluding to. Due to this tight regulations on the banking sector (which Obama did to help protect consumers and the black community specifically from predatory lending and bad banking practices) it pushed alot of smaller banks and credit unions out of business or reshaped how they did business. Due to this, certain financial products could no longer be services and geared toward small business and home loans products, which impacted everyone INCLUDING black small businesses and black home ownership

 

[Perfectson]

What you first are proving is; yes, it's short sided to put this all on Barack Obama. We do have to exercise state and fed politcals. I also need to get on less famous members of the Democratic Party.

I'll give you that.

3) Semantics. I know he's not going to put money in our pockets. But, look at Byron Allen's case against AT&T, we've got a problem there. There's a reason white people think we're just complaining and should be happy. The image of black people is so out of wack.

4) Like my intro; time to start looking at more local Dems...well nowadays Republicans--fukk it, both

5) I'll repeat a post; you get it down 82, you can get it down to 0. That is a racist law.

respect - we can agree on this common platform. Obama wasn't perfect but the monthly Obama hasn't done anything for black people rhetoric on this site over the past 9 years should have expired by now, especially now that we see who we are dealing with.

BTW - economy is booming, thanks to Obama and the guise that Trump is reducing regulations and is goinna change the tax code. In reality, Trump hasn't done anything, effectively this is rich whites and big business loosening the purse strings that they refused to do while Obama was in office. The same acts of sabatouge Trump is trying to do is what rich whites and big businesses have been doing under Obama. They want this infighting so they never have a female, black, or any other kind of president in that office.

 

[Ricky Fontaine]

Lmfao man how dare you neg me ,first of all. When you're out here with this crab in a barrel mentality.

Everyone that dapped this guy are crabs, straight up. Yall are the haters of the community , this guy's talking about owning a business and employing blacks and you over there telling him it's not real. Youre almost begging for his downfall. It's sick, demented , and I'm nauseous reading it. Wish we had 1000 more brothers like @Momentum vs sick ignoramuses like you guys

Man if you don't sit your dumb ass down somewhere.

I said in the damn post you quoted I'm glad he owns his business. Where did I say I wanted him to fail?

You been posting bullshyt this entire thread nikka foh