Median wealth of Black Americans 'will fall to zero by 2053', warns new report

[MeachTheMonster]

My man said wealth is "simply" homeownership

That along with the anecdotal bootstrap stories in an attempt to undermine macro data

Yeah I'm out

Wealth is the amount of assets one has minus their debt.

In America for all but the most wealthy their one and only asset is their home.

So when talking about wealth in middle class America, you are essentially talking about homeownership.

 

[BrandonBanks]

Breh yes, the system is rigged against black people but at the same time, there are ways to create wealth. I know it can be done and I know it is scaleable. I have seen it done and have done it on a smaller scale with my family and friends. For me I had to leave America and head to Asia in order to create businesses but it can be done from within America.

A few problems with the article. They have household wealth as the only measure of wealth. The stock market is an amazing tool in terms of wealth creation. It's easy to form an investment group with family and friends. Or look up a black financial planner for a one person or the family and friends group this is an actionable way anyone can do right now.

I don't have a solution for easing the burden for brothers and sisters to create companies.

There is a solution to deal with the overall wealth gap for all black people. A grand solution! When countries want to increase the standard of living for its citizen after they have discovered say oil reserves. They create a sovereign wealth fund. Even though this is done for citizens of a country like say, Norway. Which was able to make every one of their citizens ridiculously wealthy. Same way the Candian Ontario teacher's came together to start things.

We as black people take the model and create a "black sovereign fund". Pay the people to run it who are qualified to do and as a whole, every one gets like a yearly dividend at the end of the year to either use as money or reinvest into the fund to generate wealth.

So say every black person in america gave ten dollars to the black sovereign fund. That is 300 million dollar fund from the jump. Say a conservative estimate of 5.5% annual return rate from the fund that is a 875 million pound gorilla in 20 years that brother and sisters control and can use for leverage on everything.

This too. I've talked about different investments on here in the Business subforum. Great post.

 

[Kilgore Trout]

Breh yes, the system is rigged against black people but at the same time, there are ways to create wealth. I know it can be done and I know it is scaleable. I have seen it done and have done it on a smaller scale with my family and friends. For me I had to leave America and head to Asia in order to create businesses but it can be done from within America.

A few problems with the article. They have household wealth as the only measure of wealth. The stock market is an amazing tool in terms of wealth creation. It's easy to form an investment group with family and friends. Or look up a black financial planner for a one person or the family and friends group this is an actionable way anyone can do right now.

I don't have a solution for easing the burden for brothers and sisters to create companies.

There is a solution to deal with the overall wealth gap for all black people. A grand solution! When countries want to increase the standard of living for its citizen after they have discovered say oil reserves. They create a sovereign wealth fund. Even though this is done for citizens of a country like say, Norway. Which was able to make every one of their citizens ridiculously wealthy. Same way the Candian Ontario teacher's came together to start things.

We as black people take the model and create a "black sovereign fund". Pay the people to run it who are qualified to do and as a whole, every one gets like a yearly dividend at the end of the year to either use as money or reinvest into the fund to generate wealth.

So say every black person in america gave ten dollars to the black sovereign fund. That is 300 million dollar fund from the jump. Say a conservative estimate of 5.5% annual return rate from the fund that is a 875 million pound gorilla in 20 years that brother and sisters control and can use for leverage on everything.

They gonna ignore you


Not everyone is meant to come with us

 

[MeachTheMonster]

Another thing that hasn't been mentioned is that it's CACs decide what a home is worth.

They can and do decide how much "wealth" black people have with a simple stroke of a pen/keyboard.

 

[Ohene]

No reparations, means no solution. Permanent underclass.

meh. many would give them reparations right back to whites via their spending. not buying that thats the problem

 

[MeachTheMonster]

Concentrating on wealth is misleading in the first place.

We should be concentrating on our ability to afford our own happiness.

Wealth is defined/controlled/and passed around by those that already have it.

Americas infatuation with wealth has always been used as a control mechanism by the wealthy.

I own a 3 bedroom, 1400 sq ft home, built in 2006 which is now valued at around 120K. It's a good working class neighborhood, but mostly black people live here, so cacs have decided my home is worth less than similar homes.

Random CAC owns a one bedroom condo valued at 300K in a swanky hipster neighborhood.

You gonna tell me he's more "wealthy" or better off than me?

Nah. He and the rest of the CACs just told themselves they are so they can feel better.

 

[BrandonBanks]

This is handled in a black ploitation movie that I have not found out what the name of it is yet. It has a scene where white people discuss all the way they create subterfuge to hold us back based around making us believe in our small success and in that is also a trap.
As it produces dissention and contempt amongst us.

It is all apart of their plan.


Art Barr

nikka aren't you in your 40s or 50s

Regardless, you are one of the most smart-dumb ass nikkas on the Coli. Another nikka nearing old age who just complains endlessly about "the white man" and "the white man's currency" while punching the clock for that same white man until you can barely walk anymore.

Work for "the man" until the day you die with nothing of your own to pass down to your children brehs
Wait for reparations that are never coming brehs

Nobody is saying we don't have it harder than everyone else. It's definitely harder for black men to build. But i'm about getting it BY ANY MEANS NECESSARY. What choice do we have? I don't know about yall but i'm trying to hit 7 figures. Even if i don't, i'm damn sure going to try. A lot of yall have just accepted the status quo and are mad that a few us are doing things a different way than you

"Feelings" don't matter. nikkas in here talking about "oh i don't FEEL like that's right" "that OFFENDS me" Stop being a sensitive, emotional fatherless fakkit. If american black men (like the ones in this thread) would be less emotional and more logical than we would make more progress than we're making as a group. Most of you nikkas don't even think you can employ yourself in 2017even though you have internet access

 

[MeachTheMonster]

nikka aren't you in your 40s or 50s still talking about we "can't" change anything at all because they control what we do

Regardless, you are one of the most smart-dumb babbling ass nikkas on the Coli. Another nikka nearing old age who just complains endlessly about "the white man" and "the white man's currency" while punching the clock for that same white man until you can barely walk anymore

Work for "the man" until the day you die with nothing of your own to pass down to your children brehs
Wait for reperations that are never coming brehs

Nobody is saying we don't have it harder than everyone else. It's definitely harder for black men to build. But i'm about getting it BY ANY MEANS NECESSARY. What choice do we have? I don't know about yall but i'm trying to hit 7 figures. Even if i don't, i'm damn sure going to try. A lot of yall have just accepted the status quo and are mad that a few us are doing things a different way than you

"Feelings" don't matter. nikkas in here talking about "oh i don't FEEL like that's right" "that OFFENDS me" Stop being a sensitive, emotional fatherless fakkit. If american black men (like the ones in this thread) would be less emotional and more logical than we would make more progress than we're making as a group. Most of you nikkas don't even think you can employ yourself in 2017even though you have internet access

It's fine to talk about your own individual motivations, goals, and achievements.

But that has nothing to do with an analysis of the socioeconomic status of the American populace or black people in specific.

 

[Majestic]

I make money from the internet and nobody knows I'm black because I've never had to leave my house to make a sale.... And there are millions of other people from all walks of life and all races who make money in this same way... The 2017 way... The internet way... The PayPal and gmail way... The low cost way... The way you think is impossible but people are doing it everyday.

My father took the school route and ended up opening several pharmacies across new york with his business partner.

Lets just say... We're doing better than most people... But thats just because we didnt bow down to the system and think its impossible Like other scared ass nikkas who think the white man gonna arrest you for empowering yourself and your family... Boss up or get bossed around nikka

Drop some game on us on what business areas we should look into breh? Im young but its better to get started early i suppose?

 

[BrandonBanks]

It's fine to talk about your own individual motivations, goals, and achievements.

But that has nothing to do with an analysis of the socioeconomic status of the American populace or black people in specific.

I agree with you, but the thing is, i feel that american black men who think like me and @seveninthechamber are in the extreme minority. I have a "by any means necessary" type of mentality. A LOT of other black men have a "i can't because x,y,z" mentality.

Bros sound like Yvette Carnell and shyt

It's not just on here, pretty much any space where black men are discussing economics, MOST rather detail a bunch of reasons why we can't do at least a LITTLE better, in terms of building. If dudes put as much energy into actually trying as they put into explaining why we "can't". A dude in here literally said that black men can't employ ourselves in 2017 because of the white man. That's even uncommon, the majority of black men think that shyt. There's usually at least one of us in these spaces who openly disagrees and challenges the rest on that "the white man controls my every move, even what i type" shyt.

 

[Art Barr]

nikka aren't you in your 40s or 50s still talking about we "can't" change anything at all because they control what we do

Regardless, you are one of the most smart-dumb babbling ass nikkas on the Coli. Another nikka nearing old age who just complains endlessly about "the white man" and "the white man's currency" while punching the clock for that same white man until you can barely walk anymore

Work for "the man" until the day you die with nothing of your own to pass down to your children brehs
Wait for reperations that are never coming brehs

Nobody is saying we don't have it harder than everyone else. It's definitely harder for black men to build. But i'm about getting it BY ANY MEANS NECESSARY. What choice do we have? I don't know about yall but i'm trying to hit 7 figures. Even if i don't, i'm damn sure going to try. A lot of yall have just accepted the status quo and are mad that a few us are doing things a different way than you

"Feelings" don't matter. nikkas in here talking about "oh i don't FEEL like that's right" "that OFFENDS me" Stop being a sensitive, emotional fatherless fakkit. If american black men (like the ones in this thread) would be less emotional and more logical than we would make more progress than we're making as a group. Most of you nikkas don't even think you can employ yourself in 2017even though you have internet access

again all self equation of what you think.
When what you think and fact are completely separate. Just to one shot Kill yo goof ass...you on the internet you so preciously speak of solely from me creating the profitability for the very products that enable you to gain access to a government network. Of which the revenue grab and discovery period were cut off in 2001. So please stfu cause you are a self equated fukk'n buffoon.


Art Barr

 

[MeachTheMonster]

I agree with you, but the thing is, i feel that american black men who think like me and @seveninthechamber are in the extreme minority. I have a "by any means necessary" type of mentality. A LOT of other black men have a "i can't because x,y,z" mentality.

Bros sound like Yvette Carnell and shyt

It's not just on here, pretty much any space where black men are discussing economics, MOST rather detail a bunch of reasons why we can't do at least a LITTLE better, in terms of building. If dudes put as much energy into actually trying as they put into explaining why we "can't". A dude in here literally said that black men can't employ ourselves in 2017 because of the white man. That's even uncommon, i see a lot of other black men saying that shyt. There's usually one of us who openly disagrees and challenges the rest on that stupid shyt.

When people are talking about economics, they are talking about the collective.

When talking about the collective, you have to talk about systemic barriers, as they are the only thing we can address as a collective.

Talking about individual motivations and achievements gets us nowhere because there's too many unquantifiable variables that ultimately dictate where a person will land.

When talking about wealth it is impertinent to talk about inequality because wealth is not something that can be earned. Wealth is almost always passed from one hand to another. Therefore even on an individual level if you want to talk about or make plans to attain wealth, you have to talk about the people that currently have the wealth.

 

[Copy Ninja]

Every thread like this has people who "claim" to be black but oppose reparations. Some even say reparations wouldn't help and others say reparations would be bad. Receiving the 60 trillion dollars that African American descendants of slaves are owed by this country would be the financial base we need and deserve.

This isn't a handout or free money(which are only seen as bad when black people are the recipients) it was earned. We will never know the race of the posters here but we can use common sense on who doesn't want black people to get money and get ahead. Coates made the argument for reparations perfectly.

You really think reparations are coming?

 

[Art Barr]

It's not close to dead but it's overpriced and completely out of the Black collective hands. Even the white collective struggles with this to a degree. Housing is a wealth persons hustle in America. People from all over the world come here to buy and rent out housing.

The housing Market is banks and those shyt bag reality company's owned by a white power now new school turned old school dollar guy. Who owns all the high rise apartment buildings in any area in the us in general.

Those are the people basically sitting back waiting on you with no resources to sell and try to revenue grab from their lowball price to play catchup once more.
People do not realize this recession was planned to turn it back to before civil rights and make thing exactly the way they were. Except three times higher than standard white flight housing prices. In white flight, a great luxury house was about forty k. Easily obtainable for blacks in affirmative action with just a factory job. Let alone an actual accreditation from a university.
Enter the crack Gen which was spawned by the uncle tom trying to fit into the gay drug use eras from disco. Plus military officers with drug issues who were never given any help medically to be reinstituted jnto society from the draft like their more to do and higher resourced white counterparts.
That then came back to son the hood and then institute this idea of ballin with white folks. That eventually lead to the crack Gen destroying us from every walk of life.
Fifty years later in two months and three weeks and they have everything back the way it was. They are working to eliminate any black people who won from white flight in the urban areas they left for the burbs.
They even won the battle of the sexes as well.
As they allowed the women who came and were the first born in power of an estate to be susceptible as well. It is all a plan for the white man, not even a white woman but just the white man.

With this younger generation not being prescient or even cognitive to a time before them. As they systematically ruined the ability of a subculture of the impoverished.
built on educating the previous Gen in full with everything from music to knowledge of self. They are in the pole position to make this as horrific as the imagery seen in district nine and Elysium. As far as how things are gonna be in the present which used to be the future. The future is actually about to be now, and it easily looks to be running on their plan to make it like this as well.

As the powers that be have been in the know of this and making it like this purposefully before civil rights.



Art Barr

 

[#1 pick]

The housing Market is banks and those shyt bag reality company's owned by a white power now new school turned old school dollar guy. Who owns all the high rise apartment buildings in any area in the us in general.

Those are the people basically sitting back waiting on you with no resources to sell and try to revenue grab from their lowball price to play catchup once more.
People do not realize this recession was planned to turn it back to before civil rights and make thing exactly the way they were. Except three times higher than standard white flight housing prices. In white flight, a great luxury house was about forty k. Easily obtainable for blacks in affirmative action with just a factory job. Let alone an actual accreditation from a university.
Enter the crack Gen which was spawned by the uncle tom trying to fit into the gay drug use eras from disco. Plus military officers with drug issues who were never given any help medically to be reinstituted jnto society from the draft like their more to do and higher resourced white counterparts.
That then came back to son the hood and then institute this idea of ballin with white folks. That eventually lead to the crack Gen destroying us from every walk of life.
Fifty years later in two months and three weeks and they have everything back the way it was. They are working to eliminate any black people who won from white flight in the urban areas they left for the burbs.
They even won the battle of the sexes as well.
As they allowed the women who came and were the first born in power of an estate to be susceptible as well. It is all a plan for the white man, not even a white woman but just the white man.

With this younger generation not being prescient or even cognitive to a time before them. As they systematically ruined the ability of a subculture of the impoverished.
built on educating the previous Gen in full with everything from music to knowledge of self. They are in the pole position to make this as horrific as the imagery seen in district nine and Elysium. As far as how things are gonna be in the present which used to be the future. The future is actually about to be now, and it easily looks to be running on their plan to make it like this as well.

As the powers that be have been in the know of this and making it like this purposefully before civil rights.



Art Barr

This was the plan all along.