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

[EBK String]

ADOS has no sense of community or unity. We would rather war with each other over blocks we dont own and rags that dont mean shyt. Heroin and welfare destroyed the family structure and then crack buried us.

 

[saturn7]

Who gives a fukk about a wealth gap

The problem with these criticisms is that it treats closing a wealth gap completely as the only measure of succeess.None of these prove wealth can't be built via group economics. Do you want to improve communities and build wealth or not? How you let them mindfukk you into beleving that chasing some statistic invalidates all the gains we can do and all the ground that can be made up. Give up any type of wealth building to try and chase cacs "keeping up with the joneses" breh. Because that has been working out for us so far right?

Where did I say any bullshyt like that?

Of course I want our communities to build wealth but every time we've tried we've been knocked back by capitalist forces with the assistance of racist government.

Blacks been trying to "do for self" but that reports shows without government protections and wealth transfers IT CAN'T WORK.

Black businesses don't have enough capital and neither do black banks to provide it to black businesses. Black folks just don't have enough to "do for self" when half of our population has 0 or negative 0 wealth. We can't financial literacy class our way out of this.
of course it will work for some individuals.

Byron Allen did for self but without government protections the big players in his industry can lock his black ass out.

 

[UberEatsDriver]

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.

He’s not totally wrong tho. Despite how broke someone might be they can still handle money better.

The issue is poverty keeps you so busy that you have no time budget and make smart decisions.

 

[Ghostface Trillah]

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

Nah you're just projecting. You think someone speaking on the practices of successful people is the same as them having an intellectual monopoly. That's your pride son.

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?

Pretty sure that I could find some money on hangers in their closets or in shoeboxes. If you're net worth in the United States of America is $8 then you are financially illiterate and even if someone gave you a bag you'd fukk it up and go back being worth $8 or even less.

 

[saturn7]

African-Americans have wealth. We don't capture and preserve it.

If you spend $1.2 trillion dollars into the U.S. economy, you have wealth. It simply needs to be realized, redirected, and re-captured.

Black Spending power is a marketing term.



Black folks spend that money on necessities like food, rent, u bills etc. That doesn't mean folks have extra trillions we are just wasting.

 

[Bickin Back Being Bool]

My Mali's done took this to another level

 

[Formerly Black Trash]

This the kinda shieet we need to do

Someone start a thread or I will

 

[ATownD19]

Black Spending power is a marketing term.



Black folks spend that money on necessities like food, rent, u bills etc. That doesn't mean folks have extra trillions we are just wasting.

What do you think about this data by Nielson Studies?

 

[UberEatsDriver]

But don’t they still need the banks to secure a mortgage?

 

[dark_magic]

But don’t they still need the banks to secure a mortgage?

Not necessarily. Depends on what the buyer will accept. They may take cash or they make take a certified check. Although, the certified check would involve the bank at that instance.

There is nothing stopping anyone from doing private mortgage contracts or seller financing either.

 

[BigMan]

Looking forward to reading this thread

 

[Kenny West]

Where did I say any bullshyt like that?

Of course I want our communities to build wealth but every time we've tried we've been knocked back by capitalist forces with the assistance of racist government.

Blacks been trying to "do for self" but that reports shows without government protections and wealth transfers IT CAN'T WORK.

Black businesses don't have enough capital and neither do black banks to provide it to black businesses. Black folks just don't have enough to "do for self" when half of our population has 0 or negative 0 wealth. We can't financial literacy class our way out of this.
of course it will work for some individuals.

Byron Allen did for self but without government protections the big players in his industry can lock his black ass out.

Textbook juelzing post

@ bold: @ trying to get reparations from said government being the more logical conclusion knowing this.

And those reports really dont conclude that because they use the racial wealth gap as the measure for the data which is stupid. People like jeff bezos, warren buffet and most of the 1℅ are white despite them being outliers of the white population. They contribute to this measurement, so its retarded to use catching up to a mass statistic of wealth as a means to say group economics wouldn't improve our communities across the board.


@ underlined group economics attacks exactly this

 

[boskey]

What do you think about this data by Nielson Studies?

Including "ethnic hair products" on the list is completely dishonest. Ethnic hair products = products specifically for black people. Never seen shampoo for latino hair. The list is interesting but the first and biggest number makes me question the whole thing...why would they include that??

 

[ISO]

How the fukk can you practice group economics with NO WEALTH to fukking begin with??

We are so far behind putting our few pennies and nickels together won't fix our problems.

Black Americans need a wealth transfer PERIOD.

Yall acting like these Somalis did it all on their own. They got aid when they first came to the U.S. which gave them time to get themselves together and progress as a group while not being hindered by the historical racist economic policies that have ADOS where we are today.

And Somalis have wealth? C’mon my guy

Go to the West side of Buffalo and see how they living

 

[Apollo Creed]

Surprised dudes even pay their internet bills to be able to post in this damn thread, because #TheData shows black folks shouldn't even waste the energy in doing that.