bobbyw24
10-26-2010, 07:34 PM
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
“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