Black People : The Economy: Small talk......

Discussion in 'Black People Open Forum' started by Ralfa'il, Jul 18, 2005.

  1. Ralfa'il

    Ralfa'il Well-Known Member MEMBER

    Joined:
    Mar 25, 2005
    Messages:
    1,781
    Likes Received:
    16
    Ratings:
    +16
    I don't know about you all....

    But I'm HHHHHHURTIN' !

    For the last 3 or 4 few years I have had to rely mostly on independant contracting to make a living, now that the building boom is slowing down...I'm getting hit up.

    Everybody I know is struggling now and either have no job, had to take on several jobs just to suppliment their income.

    ...or is in jail.


    The only people I know who are relatively stable and aren't feeling much of a crunch are those who get S.S. or S.S Disability getting a regular check.


    I personally see no way out of this downward trend because even having a degree don't seem to be helping many people I know maintain their standard.


    Yet the shopping malls and beauty salons stay full!

    Where are people getting all this money to waste?
     
  2. Monetary

    Monetary going above and beyond PREMIUM MEMBER

    Country:
    United States
    Joined:
    Dec 15, 2002
    Messages:
    3,299
    Likes Received:
    182
    Gender:
    Male
    Occupation:
    Economist
    Location:
    Detroit, MI
    Home Page:
    Ratings:
    +236
    CREDIT...AND THEY WILL PAY FOR IT LATER TOO.

    I wish more of our people were conscious of the economy and what's going on in the industries in which they work. They'd be better prepared for recessions or hard times...ESPECIALLY BLACK MEN; for we are the ones who get layed off first in these situations.
     
  3. Ralfa'il

    Ralfa'il Well-Known Member MEMBER

    Joined:
    Mar 25, 2005
    Messages:
    1,781
    Likes Received:
    16
    Ratings:
    +16
    Monetary

    Hot d*mn....

    You are the umpteenth person who has told me that and it makes a lot of sense.

    Like Michael McDonald, I keep forgetting how they're pushing loans and credit cards on everyone.

    I learned my lesson a long time ago.
    I try to stay out of debt and I rarely use any of my credit cards, but they are sending me tons of pre-activated credit cards in the mail every week.

    I remember a time when you had to be wealthy just to get a credit card.

    Now I go to the store now and even bums with tore up cloths smelling like p*ss are pulling out credit cards wrapped in rubber bands and have to choose which one he wants to use.
    (fool got old bubble-gum stuck on half of them)

    I'm seeing little kids with cell phones on contract.

    They are also tricking homeowners into snatching out second mortgages on their property.
    I know a neighbor who basically gave his house away taking out a loan on it just so him and his wife can take a trip to Hawaii.

    People are also having to take out second mortgages just to finance their children's education.

    These people must be trying to drown us all in a sea of red ink and keep us in financial slavery.
     
  4. oceolo

    oceolo Well-Known Member MEMBER

    Joined:
    Jan 25, 2005
    Messages:
    1,271
    Likes Received:
    15
    Ratings:
    +15
    Nobody should even mess with credit because I think that credit is nothing but a racket and the credit companies nothing but loan sharks. These companies just want us to stay in debt so we can keep giving them money making them rich . I saw a program recently where they mention that credit companies hate it when people pay their bills on time because they get more money the longer the person takes to pay off their bills . This way of thinking is crooked so you know their practices and how they handle their customers must be crooked . Thats why I think its just better to save your pennies for wht you want to buy.
     
  5. Monetary

    Monetary going above and beyond PREMIUM MEMBER

    Country:
    United States
    Joined:
    Dec 15, 2002
    Messages:
    3,299
    Likes Received:
    182
    Gender:
    Male
    Occupation:
    Economist
    Location:
    Detroit, MI
    Home Page:
    Ratings:
    +236
    I wouldn't quite say that...but you're basically right. The amount of money that changes hands is slowly getting smaller. Mind you, as inflation rises, your income does not rise by the same amount. So, companies are pinching off your dinero coin by coin on a yearly basis. The increase in the cost-of-living-adjustments doesn't make up for it either. We all must find other ways to bring in income. You will either have to be born with some skill that is rarely available in your area or get an education. And mind you, a degree will not necessarily guarantee you a job...OR a decent wage. This is how you create a class of "Haves" and "Have Nots." You let the economic system do it for you. That way, you can't be blamed for it. Those harmed by this system will blame themselves. People are very tricky in what they do. "Buyer Beware" doesn't only apply to you when you're buying an item.

    They don't say mental slavery exists for nothing. It replaced physical slavery where they used chains and whips. You're less likely to get in an uproar over this because it happens over time...and slowly. And, if you do, you will be given a bigger piece of the cookie. A bigger piece of the cookie is a still a crumb.
     
  6. Monetary

    Monetary going above and beyond PREMIUM MEMBER

    Country:
    United States
    Joined:
    Dec 15, 2002
    Messages:
    3,299
    Likes Received:
    182
    Gender:
    Male
    Occupation:
    Economist
    Location:
    Detroit, MI
    Home Page:
    Ratings:
    +236
    Mannnnn, you ain't NEVER lied. This is so true. And, they tack on all kinds of fees and costs. You have transaction costs, finance fees and late fees. You're right. It's a racket. And all of these students borrowing money for their education are going to feel it when they get out of school and have to pay those loans back on $30,000 or $40,000 a year. That's not very much money.

    smh
     
  7. Ralfa'il

    Ralfa'il Well-Known Member MEMBER

    Joined:
    Mar 25, 2005
    Messages:
    1,781
    Likes Received:
    16
    Ratings:
    +16
    Oceolo

    This is true...

    In most cases there is actually a PENALTY for paying off a loan "too early".

    Banks make thier money off of interest and penalties like many small towns get most of their income from traffic violation citations.

    People think they're getting over by owning thier own homes but unless you bought your home outright in cash and own the land it's sitting on, you're still paying a hell of a lot in interest for the loan you got from the bank.

    Plus you have to pay taxes on the land it or they'll still take both away from you.





    Monetary

    I just don't understand why so many big businesses are hell bent on creating so much poverty and destitution in society.

    Once they get rich and have all the money they need, why the need to further exploit people and debase them.

    It would seem that those at the top would want to maintain a healthy and sizeable middle-class if for nothing else but to keep the society stable and keep them well cushioned.

    Hell, if even the skilled and degreed people fall into poverty, how long do the wealthy land owner expect to get paid?



    Like slowly boiling a frog in water....


    Like corporations are allowed to expand and maintain their base in America; I think private citizens should be allowed to go around the world expanding and making money as best they can while keeping their rights and privelages as an American citizen.

    Too much competition here.
     
  8. kente417mojo

    kente417mojo Well-Known Member MEMBER

    Joined:
    Jan 22, 2004
    Messages:
    3,756
    Likes Received:
    34
    Gender:
    Male
    Ratings:
    +34
    Yup, I know people all around me talking about they need to get a second job so they can keep their lifestyle going. It's a shame. We're making less money going to work because of the gas prices. Houses are out of reach for most people in Los Angeles and the pay for jobs is getting lower and lower every year. Plus, the population is growing and the amount of jobs is getting less. They are pushing credit cards on everyone because they want people to use their cards instead of cash. Even when you use you ATM card (your own money), some places will still tax you with a $.35 or $.50 fee, just to use your own money. They are going to make it harder and harder to use cash in the future. We will be relying on cards instead. They are making us really pay for our "freedom".
     
  9. Ralfa'il

    Ralfa'il Well-Known Member MEMBER

    Joined:
    Mar 25, 2005
    Messages:
    1,781
    Likes Received:
    16
    Ratings:
    +16
    Kente

    35 or 50 Cents.....

    Man where do YOU bank at?

    I wanna know because I get socked with a $2 fee everytime I use an ATM machine that is not affiliated with my bank.
     
  10. kente417mojo

    kente417mojo Well-Known Member MEMBER

    Joined:
    Jan 22, 2004
    Messages:
    3,756
    Likes Received:
    34
    Gender:
    Male
    Ratings:
    +34
    No man, not the banks, but some gas stations and some markets and stores charge you when you use you're bank card. They say it's a servise fee or some b/s. Banks always charge like $2.00 when you use other ATM machines. You're bank charges you and the bank ATM that you're using also charges you, so sometimes you'll be charged like $5.00 just to withdraw your own money from your bank.
     
Loading...