Sorry Progs – The Wealth Gap is Not Caused By Racism, It’s Caused By Bad Choices

There was a derogatory term, a racist term, that I heard growing up. The term was used whenever anyone came into a bit of money and then made extravagant and unwise purchases that were meant to be seen by friends and family.

Turns out, the term is founded in truth, but they have a more sophisticated way to express it. Economists call it “visible spending.”

Those are purchases like clothes, hair, nails, jewelry, and luxury cars. It differs from prudential spending, like education, health, homes, home repairs, investments, etc.

Racism is not the driving factor for blacks lack of wealth accumulation. It is poor choices.

The researchers looked at the Japanese in America (as well as other ethnic minority groups). The peasant farmers were not allowed to own land, they were put in interment camps and were subjected to racism, yet they are on track to surpass whites in America in terms of wealth accumulation.

Wealth, it seems, is accumulated from the bottom up, not the top down. And blacks who remain at the bottom do so because their game plan does not include long term, conservative choices.

This is a remarkable read, and it’s sure to be called a racist screed.

ht/ c. steven tucker

 

13 Comments on Sorry Progs – The Wealth Gap is Not Caused By Racism, It’s Caused By Bad Choices

  1. So where do gold teeth and diamond ear studs (for men) figure into this? I’ve never seen an Asian American with either. Hmmmm, I wonder.




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  2. So I guess today, when people of color come into money they are “Cracker Rich” then?
    I know plenty of honkeys who are irresponsible when it comes to money and do live paycheck to paycheck. No sympathy for them either.




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  3. It’s a shame this isn’t beaten into the heads of children in public schools through college. It’s vital information for grasping the path to a comfortable life.
    Unfortunately its wolfsbane to the left, it obliterates their narrative. They can’t keep people on the plantation without concealing this truth.




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  4. What would credit card companies do if everyone lived within their means?
    Like burial insurance and paycheck cashing places, they’re traps for the ignorant, desperate and ill-informed of any race.
    Some folks do take a long time to learn.




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  5. Poor is the absence of money and assets and is temporary. Poverty is a state of mind and is permanent.

    I know teachers in a couple of inner city schools. Their students qualify for school meals (breakfast and lunch), frequently lack appropriate clothing for the weather, live in crappy housing, but wear $250 sneakers. That’s right – they would rather have a pair of Jordans than a winter coat.

    There is no reason for this. I grew up in a small town that even 40 years ago I knew was dying and had no opportunity, so I moved to a place where there was opportunity. There is no reason to stay in the ghetto. There is no reason to buy Air Jordans if you cannot afford food. There is no reason to buy an SUV when you cannot afford decent housing. There is no reason to have children out of wedlock when you cannot support yourself. Until the black culture (or white trash culture, to be fair) changes to that of increased personal responsibility, nothing will change.




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  6. Being around so many morons during my 20s, I know you can’t help some people at all. It all goes to waste. Nothing can possibly wake them up more than having nothing to show for it.

    Also why it’s a bad idea to “spread the wealth”. Delays or prevents this reality from slapping them.

    A phrase I learned to say to these people that were always broke from partying right after pay day: You’re lack of planning is not my emergency.




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  7. I see this every day.Black folks around
    here rent or own small shack houses and drive
    60k-100k BMW Mercedes Escalade Jaguar cars.
    Most of these cars have dents,dings and scratches.
    It’s a matter of black pride to be in a big ride.
    Trouble is unless you are Jay Leno a car is a horrible
    investment.With every mile the price goes down…




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  8. “2015 survey of wealth in Boston found that the median black household had only 8 dollars of wealth…but the 8 dollar figure only pertained to black Bostonians of American ancestry; black Bostonians of Caribbean ancestry had 12,000 dollars of wealth, despite having identical rates of college graduation, only slightly higher incomes, and being equally black in the same city.”

    Remember when everybody was laughing at the Jamaicans on SNL? Who’s laughing now?

    https://m.youtube.com/watch?v=fXdj6fzjxak




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  9. Thank you, All! More grist for my answers when some idiots here in Nolackaloonies, MT, ask what my bumper sticker – TRUTH. The new hate crime – means!




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  10. I’ve always just loved the people in their new expensive car parked in front of a shit hole house. I guess it’s where your priorities are at, myself if my choice is a huge car payment while living in a shit hole vs an old car and a house payment on a decent house to live in, I’m going to choose the house.




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