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Subject: "It wasn't meant as a Rebuttal" This topic is locked.
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M2
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Sun Jul-20-03 02:16 PM

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22. "It wasn't meant as a Rebuttal"
In response to In response to 18


          


It was meant as a statement on how the economic dynamics of the present are so different from those of the past, and those of other ethnic groups that are used as examples, that we can't superimpose them over the economic dynamics of Blacks in American and expect them to work.

I don't deny that Tulsa or Chinatown exists - I merely point out that the former existed in far different economic conditions than we have today and the latter is a totally different situation that isn't the source of that ethnic groups's wealth in the first place.

The Small Towns in the West and the South are interesting - but there are problems with that idea as well:

1. Where is the capital to start these businesses going to come from?

2. What about the people who can't start businesses? - After all Everyone can't be a business owner

3. 80% of all Business Fail and a business failure often creates so much economic hardship for the owner that they regret starting the business - what happens to those people?

4. In an area that isn't that well off to begin with, how much economic strength would really be generated by these people starting businesses, wouldn't it just create "Black Chinatowns" and is that any degree of progress?

It seems to me that educational programs that helped people seek out and acquire better opportunities in terms of employment would be more effective.

At the end of the day, the advantage in owning a business over a job in building wealth is that in SOME cases, you can make more with your own business, and the business can generated revenue for you even if you're not involved in it's day to day operations and that it can be sold for a large sum of money.

Thing is - that's not always the case with all businesses and plenty of people build weath with jobs.

The focus should be on general wealth building strategies that are almost always effective and that the majority of people can use.

If Blacks decided to spend 15% less (as a group) per year and decided to save that 15% instead - that would create 94.65 Billion dollars in Black Wealth Per year - and that's without any sort of capital gains or interest.

IF - Blacks invested that 15% in a manner that would generate even just 4% worth of appreciation per year - over the course of 10 years, that money would grow to 1.3 Trillion Dollars in collective Wealth for Blacks.

Even if we all try to spend 5% less and save/invest that 5% it would be over 400 Billion Dollars.

That's a true wealth building strategies that a lot of people can use.




Peace,








M2

The Blog: http://www.analyticalwealth.com/

An assassinís life is never easy. Still, it beats being an assassinís target.

Enjoy your money, but live below your means, lest you become a 70-yr old Wal-Mart Greeter.

  

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Does black america have real wealth? [View all] , Chris40, Fri Jul-18-03 08:55 AM
 
Subject Author Message Date ID
The Real Issue
Jul 18th 2003
1
So M2
Jul 19th 2003
2
My beef with M2's
Jul 19th 2003
3
Wealth Building is Simple Math
Jul 19th 2003
7
the east indian community in houston
Jul 19th 2003
4
RE: the east indian community in houston
Jul 19th 2003
5
Based on What?
Jul 19th 2003
8
      I guess you have to see it to understand
Jul 19th 2003
9
           Okay.......
Jul 19th 2003
10
                lol
Jul 19th 2003
14
                     Abandon Fantasy
Jul 19th 2003
15
Missing the Point Entirely
Jul 19th 2003
6
At the risk of sounding ignorant..
Jul 20th 2003
18
     
RE: So M2
Jul 19th 2003
11
Excellent Points
Jul 19th 2003
12
RE: So M2
Jul 20th 2003
17
      not nearly on the same level
Jul 20th 2003
20
RE: The Real Issue
Jul 20th 2003
16
Which only enriches certain individuals
Jul 20th 2003
23
      RE: Which only enriches certain individuals
Jul 21st 2003
28
RE: The Real Issue
Jul 21st 2003
30
      Prove me Wrong
Jul 21st 2003
31
In my center
Jul 19th 2003
13
the trend of convergence.
Jul 20th 2003
19
      RE: the trend of convergence.
Jul 20th 2003
21
           can u elaborate
Jul 22nd 2003
32
                RE: can u elaborate
Jul 22nd 2003
33
                     Further
Jul 23rd 2003
37
                          RE: Further
Jul 23rd 2003
38
the main issue
Jul 20th 2003
24
ding ding ding
Jul 22nd 2003
34
Defining Wealth Building
Jul 20th 2003
25
great post M2
Jul 22nd 2003
35
      Seek and you shall find
Jul 22nd 2003
36
nice read
Jul 20th 2003
26
80% of all Businesses fail in Five Years
Jul 21st 2003
27
I USED THE WRONG TITLE TO THIS TREAD!!!!
Jul 21st 2003
29

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