Somali-Americans Can Buy Homes Without Going To The Bank In Minneapolis Thanks To Collective Investm

[UberEatsDriver]

Stupid cac Americans will ignore this and just claim that these immigrants are abusing their resources lol.

 

[Prodyson]

Not really, you're just projecting.

Projecting what exactly? Confusion? That doesn’t even make sense. Your example of creating a thread with that title indicates one of two things...

1) what I said

Or

2) you’re trolling

 

[UberEatsDriver]

Is this a susu? If so my mom and many Haitians and Caribbean people have been doing it.​

I do it with my church because my church is tiny and everyone knows everyone and where they live so there is no place to hide.

Made 20K from this

 

[Prodyson]

My opinion ...

Indoctrination and belief prevent change on a whole. The whole may not be able to be saved. Save what is salvageable, read "Last Rites" to the rest.

Where there are problems, there is opportunity. If something is needed, that right there is a business idea. The question becomes will it be patronized and most of all will it be profitable?

I don’t disagree... I also don’t believe that is the whole of reality. There are plenty of people who could pull themselves out of situations with a bit of ingenuity and determination. There are also those that are caught in an (intentionally) oppressive bubble that won’t get out without help from someone else or systemic changes.

The problem with a lot of society is that we think everything is black and white and ideas have to be mutually exclusive. It can be all if it. But we’d often rather be right than fix problems.

 

[dark_magic]

I don’t disagree... I also don’t believe that is the whole of reality. There are plenty of people who could pull themselves out of situations with a bit of ingenuity and determination. There are also those that are caught in an (intentionally) oppressive bubble that won’t get out without help from someone else or systemic changes.

The problem with a lot of society is that we think everything is black and white and ideas have to be mutually exclusive. It can be all if it. But we’d often rather be right than fix problems.

I don't want you think of me as heartless. I have personally tried to help others, but they sabotage my or even their own efforts.

Many are not willing to do what is necessary to change. They merely want someone or someone else to subsidize
their current predicament. They are looking for an enabler. Habit, whether good or bad, is more comforting than change.

 

[Captain Crunch]

The response posts on the coli when I called out the ADOS lacking basic things like financial education and the will to practice group economics.

Financial education and group economics is irrelevant if you don’t have any money.
That was no typo: The median net worth of black Bostonians really is $8 - The Boston Globe

Please tell me, how much financial literacy and group economics can help Black Bostonians, when they’re only worth $8?

 

[dark_magic]

Financial education and group economics is irrelevant if you don’t have any money.
That was no typo: The median net worth of black Bostonians really is $8 - The Boston Globe

Please tell me, how much financial literacy and group economics can help Black Bostonians, when they’re only worth $8?

They have money. They simply do not have control over the flow of their money.

Big difference.

No matter how much or little one makes, if you don't control and regulate the flow, you will always be short on cash.

Net worth, income, and cash flow are different concepts.

 

[Malcolmxxx_23]

Is this a susu? If so my mom and many Haitians and Caribbean people have been doing it.​

I do it with my church because my church is tiny and everyone knows everyone and where they live so there is no place to hide.

Made 20K from this

Easiest way to come up with a downpayment for a house

 

[Mr.Big Meat McGee]

Where you live? This is common amongst English Caribbeans. In Jamaica we call it paadna.

Haitians do it too it’s called Esso ( if I spelled it wrong any Zoes could correct me ) in Creole I think

 

[Strapped]

This the kinda shieet we need to do

 

[UberEatsDriver]

These studies on African American wealth gaps only compare them to White American wealth. African Americans are BY FAR the richest group of blacks in the diaspora (compared to other blacks).

Well you do have the cheat code called The American currency that immediately makes you richer than other blacks whose currency is worth pennies comparatively speaking.

Same thing applies to the Somali immigrants in Minnesota. They are by far more richer than the Somalis back in Somali by just living in this country.

 

[Captain Crunch]

They have money. They simply do not have control over the flow of their money.

Big difference.

Beside the “trillion in spending power” where’s the evidence that supports this? Keep in mind FBA are underbanked a and underemployed, we don’t have money and are broke.

 

[UberEatsDriver]

Easiest way to come up with a downpayment for a house

Yup that’s how a lot of people in my church make big purchases. Plus a lot of them don’t trust banks.

 

[Cadillac]

https://socialequity.duke.edu/sites/socialequity.duke.edu/files/site-images/FINAL COMPLETE REPORT_.pdf

Myth 3: Buying and banking black will close the racial wealth gap

Myth 5: Greater financial literacy will close the racial wealth gap

Myth 6: Entrepreneurship will close the racial wealth gap

Myth 7: Emulating successful minorities will close the racial wealth gap

the thing will work best for individuals and their groups and other smaller groups. but as a whole, hard to see it

 

[dark_magic]

Beside the “trillion in spending power” where’s the evidence that supports this? Keep in mind FBA are underbanked a and underemployed, we don’t have money and are broke.

A simple Google search will reveal to you all the articles and then some about how much money African-Americans spend into the US economy.

We have money, but not just money. We also have unused and untapped labor and skill.
Some African-Americans are broke, but many are not.

Not only that look at all the immigrants we give our money to: i.e. Arabs, Koreans, Chinese, et al.

Churches in the African-American community seem to be doing just fine and more than a few are mega-churches. That tithe money doesn't seem to be abating.