For Blacks, is Debt a Bigger Problem Than Racism?

[bobbyw24]

The rich rules over the poor, and the borrower becomes the lender s slave. Proverbs 22:7

“Blacks across America are drowning in debt and, unless they start putting finances in better perspective, their future freedom is at stake. ” Rev. DeForest Soaries, pastor of First Baptist Church of Lincoln Gardens in Somerset, N.J.

A very wise mother used to have a saying: “It’s not the high cost of living that’s the problem, it’s the cost of high living” The answer is easy. Specifically regarding the cost of housing: Only about 60% of people should ever expect to own a house. The US tried to make home ownership for everyone with really cheap mortgages. You can see where that got everyone. The second point is the average house price is about $300,000, which means there are also a lot (probably about 50%) of houses below $300,000. So that means that only about 40% of the population should actually have a house that is at or on the high side of the mean. In most cases, that will not be the first time owners!

The problem is that the problem is not really race per se; it’s distribution of wealth. It just happens to be that some races are on average poorer than others. If all the poor black people became white tomorrow, they still have the same problems for the most part.

http://www.thecomingdepression.net/main-street/bankruptcy-main-street/debt-is-larger-problem-than-racism/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+Thecomingdepressiondotnet+%28 TheComingDepression.net%29

[Lord Xar]

I think for 90% of black americans, race - is the most important aspect of their decision making process when deciding policy/politics.

I think it is ingrained via tradition, schooling, demogoguery/liberal/democrat, and culture.

Now, in relation to your subject - well I think most would say their economic conditions weigh on them more than "racism", but most politicians/policies that actually negatively affect the black community are easily passed & supported by using RACE to garner support even when its detrimental.

Look at where this country is headed. Sky high unemployment, huge debt, collectivism in the extreme and 92% of black americans still support Obama. That is pure racial. I would never ever support a man/women based on race who was the antithesis of individual liberty, but black americans do. Why? I personally know more than a few black americans, and when the topic of Obama came up, I wanted to know why they voted for him. Not one could elicit any deep knowledge of policy, and even a few said "because he is black". That was it. I am not gonna say "all" believe this way, but it is sizable. Sure, the same can be said of neo-cons or liberals -- "Why did you vote for..." - "cause I vote party lines...". Is it that simple. Perhaps, but my sense is that it is not.

I believe the liberals have beaten the self-esteem out of black america via handouts, illiciting the victim & race card, affirmative action, and this collectivist mindset so most decisions are viewed thru a prism of race. And vis the vis, control & manipulation. Now this same method is being used on hispanics.

That is my take.

[Theocrat]

Also, one needs to take into account typical Black American culture, where the music, movies/TV shows, and emphasis on Afrocentrism influences young Blacks to seek after riches by being an athlete, pop star, or a "hustler/diva." That's coupled with the victimization of Blacks (by the federal government, no less) because of past events like slavery and Jim Crow laws which compel Blacks to insist that society owes them a wealthy life.

That's my take on it, having come from that culture and having observed many other Black Americans grow up in that same culture. Racism becomes a way of life and expectancy for many Blacks, and more important issues like financial/familial responsibility are placed in the "back of the bus."