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Post by Sapphire on Oct 21, 2010 23:30:25 GMT -5
I didn't know they were doing another BIA... Is anyone watching it? Thoughts?
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Post by peppermint on Oct 25, 2010 22:58:06 GMT -5
I'm mulling over the statement that debt is worst than racism
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Post by Kranium2K10 on Oct 26, 2010 0:21:05 GMT -5
I'm mulling over the statement that debt is worst than racism Same here. overall, I didnt really care for the special. I thought it missed the mark. The problems discussed with debt and blacks werent really unique to black ppl. Anyone of any race experiences a majority of what was talk about all the time.  |
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Post by peppermint on Oct 26, 2010 0:54:12 GMT -5
I agree, I think there were trying to point out how the differences could be in religion. It showed the church can help and hurt the situation.
IDK about paying off all student loans before buying a home. Some people have $100k in loans at a 2% APR... if that person desires home ownership and truly has the money, I'm not sure they should hold off. Especially if student loan is their only debt.
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Post by Sapphire on Oct 26, 2010 1:38:38 GMT -5
I didn't finish watching it... since I missed the beginning I thought I would give it a fresh start where I could watch it from the beginning. But it wasn't that enlightening. It seemed more to be a problem with folks being out of work then it was about poorly managed finances in the black community. Did it go into investing or financial planning at all?
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Post by T-Rex91 on Oct 26, 2010 6:48:31 GMT -5
I saw the second hour but haven't had a chance to watch the first part off the DVR.
As usual, Soledad did a great job presenting an objective view of the issues. One of the basic things that the pastor said about the family that was losing their house was that "their lives have changed and at this point, they simply cannot afford THAT house anymore." I can't imagine trauma of having to uproot one's family under such circumstances but his point was that just because that's where you were, that doesn't mean that's where you are.
I thought the pastoral intervention in the young man's college acceptance and the gentlemen's job search were also ideal. It was nice to see a pastor actively supporting his parishoners that way.
It bothered me in the Q&A at the end when Soledad asked TD Jakes whether people should be tithing or paying their bills with their last money and dude actually had the nerve to imply that the tithing was the better investment. I wasn't surprised that a prosperity preacher took that perspective but I do disagree. Manage your debts down so you can pay your bills AND tithe if you choose.
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Post by Southie on Oct 26, 2010 12:14:22 GMT -5
I only watched a few portions of the show...they had a young lady that I think is in High School, talking about spending money and not wanting to know anything about her family finances.
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Post by Sapphire on Oct 26, 2010 14:07:40 GMT -5
Yeah I was surprised at not being able to pay your bills (basic utilities) and still tithing. It's admirable, but I don't think I could do it.
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Post by Kranium2K10 on Oct 26, 2010 14:49:02 GMT -5
The Q&A panel needed some Suze Orman.... tho I did enjoy Terrie Williams
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Post by peppermint on Oct 27, 2010 0:30:34 GMT -5
Suze Orman would have been a great commentator!
The tithing thing really depends on how you were taught. Some people are taught that if they tithe, God will make a way for everything else. I personally know people who are in dire financial straits who pay their tithes faithfully. On the other hand, I know a woman who stopped paying tithes to avoid financial difficulties. Well things didn't work out. She went to her church and explained the situation... they don't assist those who do not tithe.
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Post by Sapphire on Oct 27, 2010 1:03:49 GMT -5
Good point Pep. And I get that.
I must have missed the panel, was that at the end?
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Post by T-Rex91 on Oct 27, 2010 7:59:01 GMT -5
Yep Sapph, the panel was on for the last 15-20 minutes
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Post by Bunny Hop on Oct 27, 2010 9:24:23 GMT -5
It sounds like I didn't miss anything by not watching another BIA, LOL.
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Post by All Pledging Is Legal on Nov 23, 2010 20:38:46 GMT -5
Black people are not risk takers, in terms of finance. They just copy middle class whites, but end up in a worse condition because they have no support structure.
Sure, many whites are doing bad. But a good deal of them have family members that are middle class and may be able to provide some assistance. Most middle class blacks do not have this. Often a middle class black family is a first-generation middle class family. They have no parents or grandparents to support them. Once they go broke, they may never become middle class again.
Basically, black people can only get rich or be financially secure from taking risks. This involves starting and sustaining a business and/or investing. Black people need to be bold, creative, and tenacious when it comes to money. Getting a degree and a job is not enough.
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