Quote:
Originally posted by Rudey
Monet, your income and spending habits are both important aspects of the equation.
If the incomes are higher for whites in family units and the spending is higher, then what?
-Rudey
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I think your question has many answers to it... You have got to remember history plays are HUGE role in the "economic development" of the African American community as a whole...
After MLK was assasinated, many affirmative action programs were dedicated to "incorporating African Americans" into the mainstream of society by instilling similar values of a "nuclear family unit"... Most folks did not take too kindly to this act, black or white...
But somehow by the time of Ronald Reagan, there were a "handful" of upper middle class African Americans that could "play the game" with the "hand that was dealt" and "make a profit" from it, legally...
So what you are talking about is ~20 years of "active investments" into the Stock Market by African Americans as a community as a whole...
Well, how many African American top Fortune 500 companies are brokerage firms?
With the exception of AMEX, there are only a handful of African American CEO or corporate execs sitting on boards and most of them male...
With more than 75% female headed households, how long do you think it will take folks of African descent to fathom catching up to other ethnic groups level of investing within their communities given there is a global economy?
The fact is the United States government did some unsavory things ~30 years ago that destroyed the economic base of the African American community that they have yet to own up to...
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