Historic Wealth Loss
Posted on September 23rd, 2008 by Tariq Nelson
…for people of color
The money-lenders have already sucked the value out of whole communities, urban and suburban. The wealth loss is staggering: People of color have collectively lost between “$164 billion to $213 billion over the past eight years,” with Latinos losing slightly more than African Americans. For the average American, wealth is passed on through the value of homes. That dream, as the report concludes, has been largely foreclosed.
Filed under: Bad Culture
Hence! instability…
@ Tariq
I listened to that crap just to see what your da’wah was, and once again your condition became clear. That was a bunch of black nationalistic propaganda. Where did Ford get the figures he was throwing around, where’s his data so somone with an understanding of inferential statistics can check the validty of his claims. You put it out there like it was an undeniable truth etched in stone. Such is the condition of evil black (also white, red, yellow, or brown) nationalists, who’s deceptive call is the for people to get emotional based on skin color.
The Messenger of Allaah (salallaahu alayhi wa salam) obliterated,and forbade this type of speech with is da’wah to Tawheed, and forbade the people from thinking like this. Yet, you and other nationalists on your blog call the people to it.
Muslims call to the misguidance of nationalism and politics when they lack Religious knowledge. You can never get into an “Qallaa Allaah” or “Qallaa Rasulullaah (salallaahu alayhi wa salam) on this blog because you’re not concerned with that. Infact y’all ridicule anyone who does. Y’all got it backwards.
@ Daud
I was not on that recording. I don’t know how you implied what you are saying. It is some information to take or leave. Lighten up dude. I posted Pat Buchanan the other day. What does that say about my “condition”? A lot of your friends on some of these boards (calling me a non-Muslim that needs to be “punished” and even saying terrible things about my children) have been saying some real evil things about me simply because I am interested in topics other than those you approve.
I just don’t have the energy to deal with people and their extreme hatred anymore
Da’ud, you may (almost) share my name, but I don’t understand why you wouldn’t see that this home foreclosure business affects fellow Americans (and American muslims) and disproportionately affects blacks in the inner-city, as they are more likely to not have homes or receive loans from banks, even if they have the same jobs or careers as whites.
You seem to suffer from a lack of sympathy - and as Allah said of His Messenger: Rahmatul lil Alamin - Mercy to all the Worlds … note that Allah did not say only for muslims… and how can you give daw’ah to people you don’t care about?
@ Tariq
NO ONE CAN CALL YOU A KAFR, NO ONE!
@ Daud
here is a cut-n-paste for you
Al-Nakha’i would say: “When the predecessors would come to a person to learn from him, they would first observe his manners, his prayers and his condition. Only then they would take knowledge from him.”
…hmmmm
perhaps if you had bothered to “read” the report you would understand, where he got the data. That many non-whites were bilked by predatory lending (ie. forced in to ), however I totally disagree with Fords solution, because the situation isn’t that bleak.
There should be NO government intervention to help those who took out the bad loans nor should there be assistance who provided the bad loans.
Now the problem with this is that everybody will most will lose something, but the poor will gain in the end if they act wiser. With the current deflation in housing costs will make home purchase more accessable. For those willing to save and purchase a home within their means.
It angers many when I said it but this bailout/corp welfare is like section 8 for the wealthy except it costs more.
In every poor neighborhood section 8 artificially keeps the prevailing rent high, thus attracting “speculating landlords” rather than ‘homeowners”, and neighorhoods with more renters than owners suck, sad but true
In Detroit a lot of the paper value has been almost bled out, so now is the time to buy low. -note this does hurt those trying to sell- and the cost is so cheap that you wont even need riba.
To give you an example “right now” in Detroit due to the bursting of this bubble $10,000 can buy a nice home, yet the Muslims here aren’t taking advantage of this opportunity to relocate near each other in order to create communities.
For it to work, this also means that the wealthy will have to eat their losses and this is something the Reps won’t allow to happen. unfortunately the govn’t will prop up wallstreet thus inviting the speculators back, thus rewarding their previous actions
I would have bothered to read the report, but there isn’t a report to read:
Sorry!
We weren’t able to find the page you’re looking for.
That could be because we recently upgraded our website, and pages were moved around.
What did you read?
The link to the report I read is located below
http://faireconomy.org/files/pdf/StateOfDream_01_16_08_Web.pdf
The real problem here folks is that the system is run by usurious overlords. The economies of the world are based on riba run by institutions that are controlled by a small elite that keep printing artificial money–or now, just transfer binary codes from computer to computer. When folks begin to address the issues of a hyper-inflated American lifestyle, fiat cash, and the devastation resulting from building the econmy on “sexual intercourse with one’s mother,” then we will know that the American public is serious about having a fair economic system.
With Allah is the success.
http://swarthmoor.wordpress.com/
I’m just getting started with blogging and have learned some nice techniques from your site. Thanks!