↓R↑LYB
I trained Sheng Long and Shonuff
Firstly breh what exactly did I say that makes you think I'm militant and being idealistic?
How Black Middle-Class Kids Become Poor Adults
- Thread starter Mr Uncle Leroy
- Start date
Firstly breh what exactly did I say that makes you think I'm militant and being idealistic?
mcdivit85
Superstar
Several reasons:
1. Blacks generally do not own much, so they cannot pass down through the generations i.e. lack of forward planning
- Renting apartments/homes. No home(s) to pass down to children/grandchildren
- No life insurance for untimely death, which brings more debt. Life insurance should pay for funeral, debt and replace income
-No inheritance. Blacks are the only group who tend to think that simply raising a child is enough. Other groups tend to believe that they are remembered via what they left behind. So, other groups have children that are born with some fom of wealth before they even start walking.
2. Blacks have the lowest business ownership percentage amongst all groups
- Blacks tend to teach children to "get a good job", which cannot be passed down or used as an income source or sold for profit
- Blacks do not understand the correlation between business ownership and poverty. Businesses create jobs, which give income and benefits to a group. Other groups tend to work for their racial group in high numbers. Blacks work for black-owned companies at 2 PERCENT clip. That is by the lowest percentage of intra-racial employment....not even close.
3. Blacks do not circulate their dollar amonst themselves
- Blacks do not understand how important this is. An example:
Tyrone buys groceries from black-owned supermarket. Owner of market, John, buys product from black owned-distributor. Distributor buys produce from black farmer. Farmer buys Ford F-150 from black-owned car dealership. Owner of dealership buys lunch everday at a black-owned diner. Owner of diner employs five blacks to run diner. So on and so forth.
From that one example, the black dollar cycled TEN TIMES. That would put blacks at about average for intra-racial money circulation. Here's the issue: On average, the black dollar does not circulate even ONCE before leaving black hands.
Over the course of a month, a dollar circulates Asian hands for 20+ days on average. Jewish hands, in the teens. White, in the teens. The black dollar circulates for 6 HOURS on average per month.
In layman terms, what this means is that other groups, namely Whites and Asians live off 100% of their own income AND 98% of black income. So, since blacks do not circulate money amongst themselves, we live on only TWO PERCENT of our income.
This is why other groups have more disposable income. This is why they can bounce back faster across the board. This is why they can take on more debt to buy a home, go to grad school or start a business. This is why, along with inheritance, they can make the same as a black person and have much more.
4. The black "middle class" is mostly a myth
- Most blacks considered "middle class" are at the whim of an economic downturn affecting their job. It has been proven over and over again, via study after study, that black "middle class" persons have pennies in terms of net worth in comparison to white middle class persons. Studies continually show black "middle class" homes with a net worth in the four figures while the average middle income white household shows at least five figures.
With this, it is not hard to see why the joke is "middle class blacks live in the same neighborhoods as working class whites."
Because of the points noted above, blacks are solely reliant on their income from white-owned companies or government for their middle income status. With a lack of ownership of property/goods, negligible inherited proceeds and abysmal intra-racial money circulation, blacks can only rely on the income they currently have to claim anything above poor.
Like another poster said, money is to be used as a tool. Unfortunately, like many things, blacks were never taught how things work.
Peace
1. Blacks generally do not own much, so they cannot pass down through the generations i.e. lack of forward planning
- Renting apartments/homes. No home(s) to pass down to children/grandchildren
- No life insurance for untimely death, which brings more debt. Life insurance should pay for funeral, debt and replace income
-No inheritance. Blacks are the only group who tend to think that simply raising a child is enough. Other groups tend to believe that they are remembered via what they left behind. So, other groups have children that are born with some fom of wealth before they even start walking.
2. Blacks have the lowest business ownership percentage amongst all groups
- Blacks tend to teach children to "get a good job", which cannot be passed down or used as an income source or sold for profit
- Blacks do not understand the correlation between business ownership and poverty. Businesses create jobs, which give income and benefits to a group. Other groups tend to work for their racial group in high numbers. Blacks work for black-owned companies at 2 PERCENT clip. That is by the lowest percentage of intra-racial employment....not even close.
3. Blacks do not circulate their dollar amonst themselves
- Blacks do not understand how important this is. An example:
Tyrone buys groceries from black-owned supermarket. Owner of market, John, buys product from black owned-distributor. Distributor buys produce from black farmer. Farmer buys Ford F-150 from black-owned car dealership. Owner of dealership buys lunch everday at a black-owned diner. Owner of diner employs five blacks to run diner. So on and so forth.
From that one example, the black dollar cycled TEN TIMES. That would put blacks at about average for intra-racial money circulation. Here's the issue: On average, the black dollar does not circulate even ONCE before leaving black hands.
Over the course of a month, a dollar circulates Asian hands for 20+ days on average. Jewish hands, in the teens. White, in the teens. The black dollar circulates for 6 HOURS on average per month.
In layman terms, what this means is that other groups, namely Whites and Asians live off 100% of their own income AND 98% of black income. So, since blacks do not circulate money amongst themselves, we live on only TWO PERCENT of our income.
This is why other groups have more disposable income. This is why they can bounce back faster across the board. This is why they can take on more debt to buy a home, go to grad school or start a business. This is why, along with inheritance, they can make the same as a black person and have much more.
4. The black "middle class" is mostly a myth
- Most blacks considered "middle class" are at the whim of an economic downturn affecting their job. It has been proven over and over again, via study after study, that black "middle class" persons have pennies in terms of net worth in comparison to white middle class persons. Studies continually show black "middle class" homes with a net worth in the four figures while the average middle income white household shows at least five figures.
With this, it is not hard to see why the joke is "middle class blacks live in the same neighborhoods as working class whites."
Because of the points noted above, blacks are solely reliant on their income from white-owned companies or government for their middle income status. With a lack of ownership of property/goods, negligible inherited proceeds and abysmal intra-racial money circulation, blacks can only rely on the income they currently have to claim anything above poor.
Like another poster said, money is to be used as a tool. Unfortunately, like many things, blacks were never taught how things work.
Peace
Dameon Farrow
Superstar
Bruh high school counselors put kids with the worst grades in trade positions. They end up going to school most of the time for free and they get paid work because theirs field of study has demand for workers. I've seen this countless times with welders. Kats come out of school making good bread(if they didn't end up on child support along the way) and debt free.
Lord Brehlinger
Banned
Dameon Farrow
Superstar
You a welder, breh? My cousin is one. I wish I would have taken that route out of high school instead of being starry eyed about college. He has tried to get me to go back to school for it anyway and I've been considering it. I'm only 31. Child free. Nothing stopping me, really. The situation I outlined happened for him....but he isn't the only example I've seen, naturally. Counselors should push more people onto trades imo.
Lord Brehlinger
Banned
In assuming that question is rhetorical. But that isn't true in my opinion.
I just posted an article with a black run start up. Like I said. It is possible. And in tech, things are progressing way faster then any other industry, more notably, finance. Tech is that one industry where your brain or service will not be ignored. It'll always get better.
Let's say it is true that you have to have a white guy or else you won't find investors(which is bullshyt). The minds behind the company are mostly Black people and they are still more likely to hire other blacks. That is a step up regardless.
What's it called
↓R↑LYB
I trained Sheng Long and Shonuff
Breh, that shyt is not a step up man. Being told that despite how talented and skilled you are, you're only validated by having a cac on your team is some low key disrespectful ass shyt. Why should we even tolerate shyt like that man
? I say the same thing in every thread about VC's, black people need to fund ourselves. We don't fukking need them to get our own shyt popping. Everything we put our minds to in this country we change and revolutionize, and we can do the same thing with technology and business.
https://publish.gwinnett.k12.ga.us/...perations/mentoring/community-based-mentoring
Just got the voice mail today that I passed my background check and they paired me up with a 7th grader. Not really sure what I'm gonna say to the breh, but I got 3 main objectives: Teach him about his history as an African, encourage him to consider entrepreneurship, and make sure he never becomes a c00n. I told myself if in 6 months it's not too bad, I'm gonna hit up the organization and ask them to mentor a 2nd kid.
UpAndComing
Veteran
Real shyt
It's obvious to me. Black people have no networks, no old boys club, no nothing.
We step out at 18 into enemy territory occupied by people who hate us and want to see us fail.
You could call it regression to the mean but it's more than that. somebody out there has put a lot of effort into making sure we stay exactly where we are..
And the hood kids can change the suburban ones too, I got a friend who is actually selling in the hood now he was from my neighborhood which is nice as hell. He is smart but he rather get high. I think our culture makes it harder for us to progress
↓R↑LYB
I trained Sheng Long and Shonuff
It's obvious to me. Black people have no networks, no old boys club, no nothing.
We step out at 18 into enemy territory occupied by people who hate us and want to see us fail.
You could call it regression to the mean but it's more than that. somebody out there has put a lot of effort into making sure we stay exactly where we are..
Who do you think that is
Scott Larock
Its hard leaving thecoli but I gotta find a way...
Single parenting also hurts, Lotta men aren't even taught and raised as men. The drive isn't there to achieve more, these guys lack motivation but their raised by mostly women so that's expected.
Excellent Post.
By working 80+ hours a week for their children. How could you not know this?