sad...so sad....

http://www.msnbc.msn.com/id/43645168/ns/business-eye_on_the_economy/

Quote :

"A generation that played by the rules and saw progress falls out of the middle class"

Quote :

"Economists say the Great Recession lasted from 2007 to 2009. In 2004, the median net worth of white households was $134,280, compared with $13,450 for black households, according to an analysis of Federal Reserve data by the Economic Policy Institute. By 2009, the median net worth for white households had fallen 24 percent to $97,860; the median black net worth had fallen 83 percent to $2,170, according to the EPI."

wow!



[Edited on July 10, 2011 at 5:00 PM. Reason : w]

7/10/2011 4:56:00 PM

Owning a house vs renting an apartment

7/10/2011 5:01:35 PM

^ And vs. owning a trailer.

7/10/2011 5:04:06 PM

]

[Edited on July 10, 2011 at 5:31 PM. Reason : ]

7/10/2011 5:09:17 PM

racism becomes harder to overcome during economic downturns.

7/10/2011 6:48:15 PM

^^what happened? run out of gas for your burning cross? I liked you post before the edit, when you really let the venom spew.

7/10/2011 6:50:07 PM

I'm AstralAdvent and i approved this message.

7/10/2011 6:51:15 PM

^lol

7/10/2011 6:52:50 PM

Quote :

"what happened? run out of gas for your burning cross? I liked you post before the edit, when you really let the venom spew."

lol wut?

7/10/2011 6:55:09 PM

nothin, just some good 'ole fashioned tww racism.

7/10/2011 6:58:07 PM

When workers/borrowers are scarce, employers/lenders hire/lendto blacks because they need workers/borrowers. When jobs/monies are scarce, blacks get left out because employers/lenders favor whites.

7/10/2011 6:58:31 PM

Maybe blacks should start a movement to be classier people instead of subjecting themselves to ignorance.

7/10/2011 7:04:45 PM

I bet more people would frequent your establishment if you weren't so racist.

7/10/2011 7:05:58 PM

^^Wow. That is a pretty pathetic view of the world you have there.


^Probably not, because he'd still be a moron and a shitty businessman.

[Edited on July 10, 2011 at 7:08 PM. Reason : .]

7/10/2011 7:06:31 PM

Did someone hack GeniusBoy's account?

I always knew he was dumb, but this is a whole different level.

7/10/2011 7:08:20 PM

^^true, true

7/10/2011 7:09:23 PM

Quote :

"^^what happened? run out of gas for your burning cross? I liked you post before the edit, when you really let the venom spew. "

You just don't get it. Double standards just simply need not to exist. If you make aggregate statements about people as a function of light refraction index on skin pigmentation then you're guilty of racism.

Money flow and politics should be blind to this index, but the IQ level of middle America seems to be self-conscious about this and can't get over the fact that it's ok to tell someone that they suck regardless of their leadership. The only color I care about is green.

[Edited on July 10, 2011 at 7:29 PM. Reason : also I hate Kanye West]

7/10/2011 7:17:09 PM

This is a pretty sad state of affairs.

7/10/2011 7:51:36 PM

Quote :

"their leadership"

Who is the leader of the blacks?

7/10/2011 7:57:36 PM

No


I am actually talking about


YOU PEOPLE

7/10/2011 8:00:53 PM

Quote :

"Maybe blacks should start a movement to be classier people instead of subjecting themselves to ignorance."

Quote :

"Did someone hack GeniusBoy's account? I always knew he was dumb, but this is a whole different level."

Not that I agree with him or anything, but there is quite a lot of criticism within the black community from persons of influence that there is a "culture of perpetuating ignorance" and that to progress as a whole there needs to be a change in current cultural values. Without diving into academic papers there's plenty of issues discussed even in this thread--such as leasing/renting vs. owning (cars, home, land, et cetera). Not saying that Chef Boyardi is right (he came off like a bold-faced racist), but there is some truth in the call for a change in cultural values.

/twwissrsbusnz

































BUY SOME LAND BUY SOME LAND, FUCK SPINNING RIMS!



[Edited on July 10, 2011 at 8:04 PM. Reason : F]

7/10/2011 8:03:16 PM

Who are 'you people'?

Everyone other than you?

7/10/2011 8:03:27 PM

YOU PEOPLE

7/10/2011 8:04:00 PM

People who like italics?

7/10/2011 8:08:34 PM

oh lord here it goes

7/10/2011 8:08:34 PM

I think this recession has forced a lot of people to re-think their spending habits, lifestyle, and big financial decisions.

7/10/2011 8:08:45 PM

YOU PEOPLE

7/10/2011 8:09:16 PM

Wow! White median net worth dropped by like 35 thousands dollars. Did Netstorm neglect to tell them to buy land?!?!?! They're all idiots, spending up all their money at Pottery Barn and Golfsmith, flaunting their flashy clubs. They're titanium!

7/10/2011 9:03:51 PM

^Pardon? I'm sorry if my level-headed post frightened you into some peculiar show of purported anti-racism by demonstrating your inability to discuss serious issues concerning racial culture.



[Edited on July 11, 2011 at 4:23 PM. Reason : lawl]

7/11/2011 4:22:02 PM

Quote :

"Not that I agree with him or anything, but there is quite a lot of criticism within the black community from persons of influence that there is a "culture of perpetuating ignorance" and that to progress as a whole there needs to be a change in current cultural values. Without diving into academic papers there's plenty of issues discussed even in this thread--such as leasing/renting vs. owning (cars, home, land, et cetera). Not saying that Chef Boyardi is right (he came off like a bold-faced racist), but there is some truth in the call for a change in cultural values."

Exactly.

Remember when Bill Cosby spoke about this issue? All those loyal blacks sure showed that traitor his place, didn't they?

7/11/2011 4:39:02 PM

^ heh I was thinking about his rant the other day.

http://www.californiaindianeducation.org/indian_humor/blame_whites.html

7/11/2011 4:43:42 PM

^ wow did he really say that?

that's really powerful and soooooooooooooooooooo true.

p.s. and so fuckin frank. gg.

[Edited on July 11, 2011 at 5:31 PM. Reason : ]

7/11/2011 5:30:50 PM

Quote :

"Economists say the Great Recession lasted from 2007 to 2009 isn't over."

[Edited on July 11, 2011 at 5:33 PM. Reason : ]

7/11/2011 5:32:54 PM

PrufrockNCSU

you still in the pizza biz?

7/11/2011 5:36:26 PM

Don't forget about the Mexicans, folks.


I forgo the misery index, the unemployment rate, and the housing crunch.

All I look at is the direction the dude hopping the fence (or a lack thereof) is running in the vicinity of our border with Mexico.

Ok they're still running this way? Ok - I guess things can't be that bad....yet.

[Edited on July 11, 2011 at 5:42 PM. Reason : boner with Mexico lol]

7/11/2011 5:40:58 PM

settledown: You're thinking more 2008. I'm an analyst now.

7/11/2011 5:50:22 PM

[Edited on July 11, 2011 at 5:55 PM. Reason : seemed relevant]

7/11/2011 5:54:49 PM

^ is there a George Lucas official rendering of what Chewbaca would look like shaven?

(this is a srs question)
kthxbye

7/11/2011 6:11:43 PM

Quote :

"All I look at is the direction the dude hopping the fence (or a lack thereof) is running in the vicinity of our border with Mexico. Ok they're still running this way? Ok - I guess things can't be that bad....yet. "

Not so much.

http://www.newsobserver.com/2011/07/07/1326544/better-lives-at-home-keep-mexicans.html#storylink=misearch

7/11/2011 8:04:58 PM

7/11/2011 8:14:04 PM

Quote :

"wow did he really say that? that's really powerful and soooooooooooooooooooo true. p.s. and so fuckin frank. gg."

Yep that's what he said. Probably an mp3 of it somewhere on the internets.

7/11/2011 8:53:05 PM

Quote :

"Netstorm:^Pardon? I'm sorry if my level-headed post frightened you into some peculiar show of purported anti-racism by demonstrating your inability to discuss serious issues concerning racial culture."

You completely undermine yourself when you insist on mentioning rims.

Furthermore, everybody is thoroughly familiar with this notion of a "culture of ignorance." So there's really no need for you to enlighten us. And, even if there were a need, this definitely isn't the thread to do the enlightening...because it's one hell of a stretch to suggest that the figures in this article have anything to do with cultural values or rims.

I see a startling disparity in net worth that is primarily due to the fact that many white families had an extra hundred years (and then some) to amass and pass down wealth (and financial knowledge) while blacks had virtually no opportunity to do so.

Not every article about racial disparity needs to be followed up with some tired ass post about black culture, especially when there is no one "black culture" and when a lot of the values that people complain about have more to do with poverty (or recent poverty) than with race.

7/11/2011 9:30:13 PM

free housing, free food, free education all available.

And yet still the average black household has 2 fucking grand NET WORTH.

Not $2k liquid cash, but net worth.


Look world, some things just ain't meant to be.


A fool and his money are soon parted.

7/11/2011 9:32:19 PM

Quote :

"many white families had an extra hundred years (and then some) to amass and pass down wealth (and financial knowledge) while blacks had virtually no opportunity to do so."

I'd be curious to know how many white families are getting handed a bunch of inheritance. Lord knows my family hasn't gotten squat from our ancestors

7/11/2011 9:34:18 PM

7/11/2011 9:35:24 PM

^ ^You may be more of the exception than the rule.

Having little money in the States correlates very well with not getting to college. A lot of users on TWW may think that they are "poor" when in reality you are mid to upper class.

Having parents that didn't go to college also correlates very well with not going to college. And this is a huge killer for the black community. So, the fact that they can not get out of this slump is not surprising to me at all considering that it is very difficult for them to find legit jobs because racism is still an issue in the State. Also, the criminal justice system as it is only keeps people in prison, and it is very frequently targeted towards the black community.

Basically, they are kind of in a terrible spot because racism is a much bigger issue than people care to admit.


[Edited on July 11, 2011 at 9:47 PM. Reason : sda]

7/11/2011 9:45:25 PM

^^^People don't talk about money, and they really, really don't talk about inheritance (and with good reason).

But, if you look around, somebody's definitely inheriting something...

[Edited on July 11, 2011 at 10:03 PM. Reason : ]

7/11/2011 10:00:33 PM

^ that is so so true

I feel like that suburban culture in the States tries very hard to cling to some identity so that they may escape from many of the dull aspects of their lives. A lot of them will cling to the "I'm poor" or "my parents were divorced" cards, but the reality is that they are getting help from their parents, divorces or not, and they have never tasted anything close to a life of poverty. So, what happens is that people are mum and hush hush about mommy and dady and their inheritance, but they get all of that help.



[Edited on July 11, 2011 at 10:16 PM. Reason : sdd]

7/11/2011 10:10:04 PM

Naw, my family got pretty screwed by the Depression apparently. All that money went poof with the stock market.

7/11/2011 10:10:23 PM

it's a shame blacks probably had more economic impact as a commodity than they do now

7/11/2011 10:10:49 PM