Black People : Wealth and Poverty

Discussion in 'Black People Open Forum' started by oldsoul, Aug 24, 2011.

  1. OldSoul

    OldSoul Permanent Black Man PREMIUM MEMBER

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    Since the mid-1970s, worker production and wealth creation has exploded. As the statistics throughout this report prove, the dramatic increase in wealth has been almost entirely absorbed by the economic top one-tenth of one percent of the population, with most of it going to the top one-hundredth of one percent.
    ...people do not understand how much wealth has been withheld from them. The average person has never personally experienced or seen the excessive wealth and luxury that the mega-rich live in. Wealth inequality has grown so extreme and the wealthy have become so far removed from average society, it is as if the rich exist in some outer stratosphere beyond the comprehension of the average person.

    The overwhelming majority of the US population is unaware of the vast wealth at hand. An entire generation of unprecedented wealth creation has been concealed from 99 percent of the population for over 35 years. Having never personally experienced this wealth, the average American cannot comprehend what is possible if even a fraction of the money was used for the betterment of society.

    Given modern technology and wealth, American citizens should not be living in poverty. The statistics demonstrate that we now live in a neo-feudal society. In comparison to the wealthiest one-tenth of one percent of the population, who are sitting on top of tens of trillions of dollars in wealth, we are essentially propagandized peasants.
    The fact that the overwhelming majority of Americans are struggling to get by, while tens of trillions of dollars are consolidated within a small fraction of the population, is a crime against humanity.
    (http://www.alternet.org/story/15201...ent_hoarding_the_country's_wealth?page=entire)

    ...we have over 50 million people who need to use food stamps to eat, and a stunning 50% of US children will use a food stamp to eat at some point in their childhood. Approximately 20,000 people are added to this total every day. In 2009, one out of five US households didn’t have enough money to buy food. In households with children, this number rose to 24%, as the hunger rate among US citizens has now reached an all time high.

    We also currently have over 50 million US citizens without healthcare. 1.4 million Americans filed for bankruptcy in 2009, a 32% increase from 2008. As bankruptcies continue to skyrocket, medical bankruptcies are responsible for over 60% of them, and over 75% of the medical bankruptcies filed are from people whohave healthcare insurance. We have the most expensive healthcare system in the world, we are forced to pay twice as much as other countries and the overall care we get in return ranks 37th in the world.

    In total, Americans have lost $5 trillion from their pensions and savings since the economic crisis began and $13 trillion in the value of their homes. During the first full year of the crisis, workers between the age of 55 – 60, who have worked for 20 – 29 years, have lost an average of 25% off their 401k. “Personal debt has risen from 65% of income in 1980 to 125% today.” Over five million US families have already lost their homes, in total 13 million US families are expected to lose their home by 2014, with 25% of current mortgages underwater. Deutsche Bank has an even grimmer prediction: “The percentage of ‘underwater’ loans may rise to 48 percent, or 25 million homes.” Every day 10,000 US homes enter foreclosure. Statistics show that an increasing number of these people are not finding shelter elsewhere, there are now over 3 million homeless Americans, the fastest growing segment of the homeless population is single parents with children.
    (http://pubrecord.org/special-to-the-public-record/6940/economic-elite-people-united-states/)

    To make sense of all this, You need to be in
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  2. Monetary

    Monetary going above and beyond PREMIUM MEMBER

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    I will be there.

    Peace
     
  3. $$RICH$$

    $$RICH$$ Lyon King Admin. STAFF

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    wow........I'm gonna try
     
  4. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    Part of the reason for this is that the income you do generate now and in the future goes to satisfy the interest on debts one contracts into.

    This decreases your current and future chances of accruing some form of surplus.

    The first step to wealth is surplus.
     
  5. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    we used to eat that gub'mint surplus cheese…...
     
  6. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    That's somone else's surplus.
    How about production of one's own cheese with consumption of that surplus?
     
  7. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    revolution……..
     
  8. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    Revolution in what way?
    What kind of revolution?
    How will it look when complete?
     
  9. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    i am not the oracle…….
     
  10. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    But I'm sure you have an idea of what revolution would look like during and after its occurrence?
    I'm sure you have an idea of the end goal?

    Sometimes, revolution isn't what its cracked up to be, case in point: French Revolution.
    Other times, it works for some: American Revolution.

    How do you envision revolution both during and after?
     
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