Automobiles: Soon to be merely Networked Robotic Devices

[Mosiah]

Blacks don't have quite the same amount of money as whites do. Does that matter?

[Islandman]

That does matter if you are talking about how much disposable income is available for investing. However it seems to me that black people at every income level spend a disproportionately high amount on consumption compared to other racial groups. I wonder if any study has ever been done on this.

[Don1]

Yes, fully agree, just remember the buying I am talking about is the one that makes money for you and family.

One of The main differences in this accumulation of resources or wealth is that black people do not invest enough in stocks or real estate enough as opposed to 'white people' who do so in more significant numbers and with more intensity.

http://www.nytimes.com/2014/12/18/bu...says.html?_r=0

http://www.nytimes.com/2014/12/13/us...worth-gap.html

Absolutely correct... Smart investing from as-early-as-possible is one thing we don't do ...nor do we teach our children to do

In the past few years I've had the opportunity to observe & interact with some Jewish folks at close quarters ... They enable & actually DEMAND that their children SAVE & INVEST their money ASAP...i.e. from pre teen years they're expected to start accumulating a personal stake.And they're held accountable for it by virtually all the adults in their family circle..and even people outside the family

The results of that strategy are simply amazing

[Stonigut]

Every mickle mek a muckel.

[Mosiah]

Could it be that when you feel there is not much to live for, either because of impossible NHT requirements, or the fact that police could kill you at any moment, why it appears poor people don't care much about saving and investing?

[Islandman]

Mosiah you are focusing on those in the low income category. That is certainly a reasonable explanation there, not only investing choices or lack thereof but also choices affecting health, job skills and anything else that requires planning for more than the next month or two. When you are just barely getting through each day, why they hell should you care about too much sugar or starch in the diet?

Now back to the middle and higher income categories of blacks, don't you think they (we) have a tendency to spend more on products like cars and namebrand apparel , not to mention entertainment, and less on assets that appreciate in value? How many people you know that drive a leased Lexus or BMW but don't own a house? I know quite a few.

Do you believe the same proportion of Indians and Jews borrow money at high interest rates to attend parties as do blacks?

[Don1]

It's true but not decisive that

Blacks don't have quite the same amount of money as whites do

We use this excuse...to excuse our huge cultural & economic failures.

What money we do have we immediately fritter it away in excessive CONSUMPTION... Fancy cars, fancy clothes & trinkets, partying... and general Babylon Garbage

The problem is that our culture is generally VERY BAD. Our experience with Babylon these past 500 years has made us VERY SICK...PSYCHOTIC... With behaviors that are self-destructive instead of self-developmental

Others (e.g. Jews) have developed a culture of SAVING, INVESTING.... resulting in WEALTH GENERATION

Black people generally have developed a culture where EXCESSIVE CONSUMPTION is prioritized. We buy from others and make them rich....because we PRODUCE VIRTUALLY NOTHING OF OUR OWN (which is why I push programs for yutes to MAKE things)

So it's not an issue of how much money we have...it's what we do with what we do have... and that's ~US$1 Trillion/year

[Islandman]

Black people generally have developed a culture where EXCESSIVE CONSUMPTION is prioritized.

Not just prioritized, it is GLORIFIED!

[Don1]

Not just prioritized, it is GLORIFIED!

Absolutely.

And promoted ad nauseam by so many rap/dancehall garbage "songs" and so called "celebrities"

Dawg nyam wi suppa