Comments on: Yes, Why Some People Waste Money On Really Ridiculous Stuff.

By: Pat

Pat — Fri, 21 Feb 2014 03:26:58 +0000

Cicero, you have a lot of knowledge. You need to write to enlighten us!!!

By: cicero

cicero — Thu, 20 Feb 2014 18:19:21 +0000

@angye your tossing low hanging fruit at the situation. Your target audience lacks capitol and its not their fault. Peek at a chart for wages beginning in 1965 and work you way forward to the present.

Wages remain flat, while prices and inflation take over. We need a deflationary period honestly to bring prices in to a good area.

Conversely if you Peek at a Chart showing Productivity of American Workers you will see its going up and spiking (thank tech innovations).

But the author along with yourself like to frame this debate as if its because black people like Nikes// Dats why these boys can’t find work or pay bills they want a nice pair of sneakers or girls spent too much on hair.

Low hanging fruit. Look at the amount of advertising that takes place in our communities for DEBT related products which operate on compound interest profits and predatory lending. Its not that the shoes were bought… by them with a credit card 21% interest and pay the minimum, they will be enslaved by debt not because Nike makes a comfortable shoe. Sheesh!

So the workers are working harder and getting paid less….Then they are being offered “Loans” to make ends meet, which in turn enslave their financial resources.

There is a debt related product to trap every age bracket and gender. Those products are what should be under the spot light. Credit cards to teens, Car financing for 20s-30s, house for 30+ ..reverse mortgage at exit.
to name a few.

But here at Fox blackman dot com we focus on low hanging fruit. Like a $100 of shoes is the reason why Homes aren’t Affordable.

I hope this comment posts…you know they don’t like hearing criticism or being labeled Fox new’s lil bro site. But Watkins your philosophy is dated and narratives are tangent at best, please stop being a Linear Thinker. Lets peel the layers off this onion….

By: Angye H

Angye H — Mon, 10 Feb 2014 19:20:10 +0000

Teaching our kids the value of anything is important but since we live in a money based world, they need to know the value of money; how to spend and save it. There are a lot of people living in poverty, not because they have no money, but because they waste what they have. When you have a closet full of brand name clothes and your lights have been turned off or your rent is not paid, that is a problem. When what you just spent to have your hair done should have paid your car note, that is a problem. You’re not poor in money, but in sense. You take care of your needs before your wants. Pay the living expenses before the playing expenses.

By: cicero

cicero — Mon, 10 Feb 2014 18:44:29 +0000

I really wish we would move the conversation from a dollar to asset accumulation. The value of an asset and a dollar can rise and fall through time and based on supply and demand. Therefore if you focus wealth on dollars which are created out of thin air, your wealth would be worth less and less as more money/debt enters the market. I know you think the printer is printing money, but only 5%-10% are actually physical money. The dollar is a fiat currency. Google. I.e. its faith based and not backed by a true asset. Abe Lincoln I believe said capitol is blood sweat and tears. Assets appreciate while the value of the dollar is defaced when they bailout and quantitatively ease markets. Assets , and using the leverage of the assets to provide credit. Banks on a 30 yr loan make twice the said price in compound interest, but the money they loaned you wasn’t backed by any asset and was created out of thin aire. Just typed into existence……. There is a deeper issue beyond the price you paid for what you wanted.