Black Money Business Jobs : Nation's MIDDLE CLASS is becoming meaningless

dustyelbow

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Oct 25, 2005
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Study: Big Banks Need To Satisfy ‘Mass Affluent'
BY JAY AKASIE - Special to the Sun
March 1, 2007
URL: http://www.nysun.com/article/49572

In their efforts to be everything to everyone, America's megabanks are in danger of becoming a lot of nothing to nobody, especially when it comes to members of the "mass affluent" market, a new study shows.

The rapidly growing number of Americans with between $100,000 and $1 million in liquid assets generally think they are poorly served by the three or four financial services with which they now do business, the study by Guideline says. The research company's work indicates that the investment firms that market solid, personalized service will be the ones left standing after a shakeout in the crowded financial services field during the coming decade.

"Our most shocking finding is the degree to which the mass affluent feel underserved today," the managing director of Guideline, Brian Methvin, told an audience of 350 investment advisers in Midtown yesterday. He noted that women, ethnic minorities, and owners of small businesses in this wealth class are particularly neglected by many financial planning firms.

Another finding of the study: Customers are overwhelmingly loyal to their financial advisers, not their firms, which is prompting banks to assign teams of advisers to each customer so that a defection of one adviser won't result in a noticeable loss of business.

...

The study found that although the majority of the mass affluent are white men in their 60s and 70s, their wives are beginning to make many of the financial planning decisions for them. Women are far more likely to consult investment advisers for advice on their savings, according to the study.

Mass affluent customers prefer mutual funds: More than 90% of this group owns shares in at least one fund, yet only 26% own Treasury bills. Indeed, these investors tend to shy away from debt instruments, with only 29% holding bonds.

"The killer app is mimicking services offered to high net worth clients but at a lower price point," the principal and head of retail marketing at Vanguard, Kevin Feldman, said during the panel discussion.

Mr. Poe of BlackRock said that as banks have merged with other financial services firms, they face challenges in integrating the two: "It didn't mean anything because most banks couldn't get past their nasty customer service. If you can't get my checking account right, why should I trust you with my investments?"

Not SURPRISED that the MIDDLE CLASS NATION DREAMER is starting to be SHELVED by RUTHLESS WHITE. Wasting TIME crying 'REVERSE DISCRIMINATION' while YOUR FUTURE including your WIFE and FAMILY is being DEALT with UNDERHANDEDLY.

That's the NATION at WORK.

Oh well.
 
20 year till black middle class is FINISHED says

bowser.jpg

Benjamin Bowser Lectures on the African American Middle Class
Contact: Holly Foster
Phone: (315) 859-4068
April 11, 2007

According to the predictions of Benjamin Bowser, the African American middle class could completely disappear in as little as 20 years. Bowser, chair of the Department of Sociology and Social Services at California State University, East Bay, spoke on April 10 about his recent book “The Black Middle Class: Social Mobility – and Vulnerability,” in the Kirner-Johnson Red Pit at Hamilton. The former president of the Association of Black Sociologists has written extensively on race, ethnic relations and HIV/AIDS prevention.

Bowser showed with graphs and statistics that the African American middle class is far less present than the white middle class in America, yet he noted that neither group is thriving. Nonetheless, the black middle class has grown greatly since the 1940s. This happened not because of the civil rights movement and desegregation, but because when employment increases significantly overall, it improves even for the very bottom. Still, the African American middle class has many qualities that make it distinct, according to Bowser. The black middle class is the canary because of ideology of race. Bowser believes that the term “race” was coined by colonizers in early America in order to obscure class. North and South Carolina passed legislation specifically saying those of African ancestry were Negro slaves, whiles those of European ancestry were white, believing that “race” would prevent Africans and Europeans from uniting against them. It is not so much African American culture that hurts the black middle class, but what the upper middle class society wants to do with African Americans. Ultimately, Bowser believes the lack of a successful middle class is evidence that racism is alive in America.

To Bowser’s knowledge, black Americans have yet to enter the upper class, and Italians, Greeks, and many other minorities still haven’t really joined the class of wealth yet either. Black people may drive nice cars, and wear nice clothes, but what they have is not what Bowser would call wealth, although he noted that the average white American isn’t worth that much either. Bowser has not met one African American who has enough net financial assets to live six months without working. The average net financial assets for white married couples are $1150 and zero for black married couples, whether statisticians control for age or not. For white-collar workers, the wealth gap is even wider, as the average net worth is $8680 for whites, and still zero for blacks.

...
 
What is Class/Mind Devision based on/in ?

Hotep

When you have a "JOB"...no matter how much it pays...you are only trading "Time for Dollars"...and you are only a working "Class" person...who might feel lucky enough to look down your nose at your lower paid or no paid poorer brothers and sisters who are all in the "Same Boat" regardless.

If Middle Class really meant any thing real...and not just a false concept of illusion...then how can it be just wiped out of existence by just the loss of a few Dollar$ ?

The house negro always thought that they were in a better position being in the house / belly of the "Beast"...known to them as "Masa" or "Master" and even "Boss House" and "Big House"!

No situation of Slavery is better than the other. One bird is kept in a stick cage...and the other bird is kept in a solid gold cage...with diamonds encrusted all over it...but both birds are "Trapped" just the same...this is the "Middle Class" that is really no class at all...except working class with a higher pay that can be taken away by being laid off, down sized, fired/kicked out etc.

We must know that there are millions of volumes of books written on subjects that are based on nothing but "Lies"...so what does that make those books worth? The answer is nothing...but beautifully printed, leather bound, golden gilded to look even more impressive...but only...bounded pages of "Trash"...to support the "Fabrication" of "White Supremacy"...ware your local "Lie-brary" is full of them...worthless paper that supports any...lie they could think of.

There has never been a...so-called Black Middle Class! Who is defining who? What middle class...got off the "Slave Ships"...on the "East-Coast" of the Amerikkkas? The answer is none...because the middle class did not exist then as it don't exist now...except in our mass, collective hallucinations of...grander as only hired and fired negro slaves could do...that white folks...don't need any more...and don't know what to do with except to try and eliminate and destroy us...as we discuss the loss of our...old jobs...with tears in our eyes.

We need to stop acting so crazy and foolish and check our minds for reality and wake up...now!!! Let us stop fooling only our selves...because the so-called white man has all ways known...what "Class he put us in"...and that is "No Class at All"!.....People Know Thy Self......Do MA`AT and Live!

Ase`
 
nation's middle class...

alot of us are one paycheck from being homeless[maybe two if your spouse works]i cringe at the thought of jobs being taken away from us but it's happening with great regularity every day as cheaper labor becomes the new norm in this society,that's why so many of the so-called lawmakers are turning a deaf ear to restrictions on illegal immigrants because we all know whose hiring em.
 

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