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

[Easy-E]

I wouldn't expect us to be "caught up" to whites, for obvious reasons, but we are at a point where even LATINOS have surpassed us (and a lot of that is because of entrepreneurship)

No, that's gov't intervention.

Democrats have made them priority number one.

Obama did nothing for more ppl than Latinos and LGBT ppl.

Black folks need to start looking for political restitution.

 

[Bonk]

Inability to build/sustain generational wealth that will create inheritance.

Cacs have the luxury of having inheritance from when inflation was very low and it was easy to procure capital assets.

 

[Aviso]

The bolded isn't even true and they were celebrating

But I agree

Its crazy black people think we can improve our situation by just staring businesses

Breh WE DON'T COLLECTIVELY HAVE ANY MONEY

The fact that we decended from a centruiies long period of SLAVERY and so much (white) generational wealth started than that time....plus no one cares, just kills my soul.

Exactly. Look I'm all for entrepreneurship but some of these guys really don't know how much capital is required to start AND sustain a business!! This is on top of 400 years of slavery, jim crow, virtually no generational wealth, etc. I have experience trying to get a startup off the ground and the grind is no joke.

I'll give you an example of just how lopsided the white and black wealth gap is.

One of my coworkers is a Jewish guy that just bought a half million dollar home. We're the same age, and we're both married, we grew up in basically the same area. The difference is his family gave him a huge wedding gift which he used as a downpayment for his home.

Now ask me how much money my family passed to me for my wedding.

On top of that I'm the only one in my family with a Bachelor's degree, and I'm finishing up my MBA next year.

I had to bust my ass just to make it this far with no help. Meanwhile my white coworkers are chilling and they're only complaint is that it's so hard to turn people away for their wedding because they have too many guests that RSVP'd.

 

[Elle Driver]

I wouldn't expect us to be "caught up" to whites, for obvious reasons, but we are at a point where even LATINOS have surpassed us (and a lot of that is because of entrepreneurship)

I said on here back when I first joined, back in like 2015, that Latinos were surpassing us, I had data and nobody wanted to believe it, they thought Latinos were still just focused on those little fast food jobs. Meanwhile they were using the money from those construction jobs they "took" to start Mexican restaurants n shyt

So I don't expect us to to be where whites are at, but we should at least be ahead of Latinos economically

My biggest gripe with other black americans is that we celebrate stuff too soon/have low standards for ourselves. Dudes are deep in the "22% black poverty rate, avg black household of 4 is 39k" thread posting the smileys

We are DEAD LAST as a group

Black ownership is still looking bleak

What are nikkas celebrating?

Then these dudes ask why I encourage entrepreneurship and group economics on here, like I'm just making shyt up

Blacks now have even less wealth than Latinos do. But nikkas are in the other thread celebrating and shyt like its a win

How are Latinos surpassing blacks?

I think this convo would make sense if it added the nuance of black American and black African. My black African mother gave me wealth.

 

[MajorVitaman]

Lol the housing crisis nearly knocked it down to zero. But nikkas think Obama was cool when he let Wall Street slide

The housing crisis killed middle class Blacks. To be honest, it broke us.

Stop being militant, Obama was the president of ALLLLLLLLLL americans. Stop asking for tangible benefits like a hotep nikka

 

[Kilgore Trout]

I wouldn't expect us to be "caught up" to whites, for obvious reasons, but we are at a point where even LATINOS have surpassed us (and a lot of that is because of entrepreneurship)

I said on here back when I first joined, back in like 2015, that Latinos were surpassing us, I had data and nobody wanted to believe it, they thought Latinos were still just focused on those little fast food jobs. Meanwhile they were using the money from those construction jobs they "took" to start Mexican restaurants n shyt

So I don't expect us to to be where whites are at, but we should at least be ahead of Latinos economically

My biggest gripe with other black americans is that we celebrate stuff too soon/have low standards for ourselves. Dudes are deep in the "22% black poverty rate, avg black household of 4 is 39k" thread posting the smileys

We are DEAD LAST as a group

Black ownership is still looking bleak

What are nikkas celebrating?

Then these dudes ask why I encourage entrepreneurship and group economics on here, like I'm just making shyt up

Blacks now have even less wealth than Latinos do. But nikkas are in the other thread celebrating and shyt like its a win

While Latinos build wealth we're here writing essays about amber rose or being fake mad about who people are dating oh and of course arguing about the one drop rule.


This topic just highlighted the reason why I need to spend more time building wealth instead of discussing dumb shyt with other blacks.

 

[Afrodroid]

It depends on what your definition of reparations is. For us, we will need more than just "money". Reparations would need to involve land, real estate, free healthcare for life, free education or money to start a business and much more. We would need our own federation to ensure that funds stay within the community.

Basically we would need to operate as a sovereign entity and if done the right way it could change a lot of things.

And does anyone still think that they will give land to blacks when their specialty is steal lands and resources?

 

[Ricky Fontaine]

While Latinos build wealth we're here writing essays about amber rose or being fake mad about who people are dating oh and of course arguing about the one drop rule.


This topic just highlighted the reason why I need to spend more time building wealth instead of discussing dumb shyt with other blacks.

You completely missed the point of the article.

It's a virtual impossibility for blacks to build wealth (not income) in this country because that's the way the system is designed, and opening a business will not fix that.

Even if you do "beat the system" and open a successful business, chances are that your children or their children will have to start back at square one where you started.

Latinos have more wealth collectively because they are allowed to, simple as that

 

[mamba]

A picture is worth a thousand words

I know these charts are relatively accurate.

Sometimes, I lose sight of how blessed I really am as a Black man in this country.

Average Black household wealth is less than $2000.

My shytty Acorns account I toy around with has more money in it than the average Black household wealth.

I make more than my parents ever made in one year combined and then some.

shyt is crazy when I put it into perspective.

 

[calixprynce]

so wsup older brehs, are we thruvo? Are we done ? Why even try then? nikka imma be rich , thats all i know. get rich or die tryin

 

[ogc163]

Tonetalks discusses this article



Another vid...

 

[Ya Sinning Mane]

The world going to s*** before 2053.f*** kinda report is this bs


We gon end up having to take this country whether we like it or not

bloodshed is the only way i see it at this point.a whole lotta death.

i changed my life doing the right thing now but ish gon hit the fan and im taking mine from these cacs in the future.sounds stupid but thats how i see it.

 

[HAL 9000]

Why doesn't this happen with Asians?

 

[Kilgore Trout]

You completely missed the point of the article.

It's a virtual impossibility for blacks to build wealth (not income) in this country because that's the way the system is designed, and opening a business will not fix that.

Even if you do "beat the system" and open a successful business, chances are that your children or their children will have to start back at square one where you started.

Latinos have more wealth collectively because they are allowed to, simple as that

It's easy to blame all our problems on oppression and nothing else but let's be real nikkas are obsessed with dumb shyt.

Blaming everyone else is a feminine trait. I want to know what you plan on doing to help the black plight? Or have you just give up?

 

[Easy-E]

Exactly. Look I'm all for entrepreneurship but some of these guys really don't know how much capital is required to start AND sustain a business!! This is on top of 400 years of slavery, jim crow, virtually no generational wealth, etc. I have experience trying to get a startup off the ground and the grind is no joke.

I'll give you an example of just how lopsided the white and black wealth gap is.

One of my coworkers is a Jewish guy that just bought a half million dollar home. We're the same age, and we're both married, we grew up in basically the same area. The difference is his family gave him a huge wedding gift which he used as a downpayment for his home.

Now ask me how much money my family passed to me for my wedding.

On top of that I'm the only one in my family with a Bachelor's degree, and I'm finishing up my MBA next year.

I had to bust my ass just to make it this far with no help. Meanwhile my white coworkers are chilling and they're only complaint is that it's so hard to turn people away for their wedding because they have too many guests that RSVP'd.

Generational wealth that robbed us of a real start in America

Breh, I DO NOT UNDERSTAND why black people are too proud to point to a gov't that enslaved them us the source of their trouble

Hell, I'ma have generational wealth from my Dad, but, I'm scared because I'm gonna have to sustain a family to pass it again

90% of generational wealth is lost in two generations

Why Rich Families Lose Their Wealth