Sunday, March 6, 2011

#345. No Longer being "Nigga Rich"

The French have a wonderful term for those come into money for the first time. It's called nouveau riche:
They hate to not be nigga rich
Nouveau riche (French for "new rich"), or new money, refers to a person who has acquired considerable wealth within his or her generation. This term is generally to emphasize that the individual was previously part of a lower socioeconomic rank, and that such wealth has provided the means for the acquisition of goods or luxuries that were previously unobtainable.
The citizens of the United States reflexively reject anything French, so a more apt term for those who acquire a considerable fortune is (uh-oh, it includes the-word-that-must-not-be-named) nigger rich:
a derogatory term used to refer to a selfishly extravagant person who has no prospects of ever paying off the debts they incur. (Esp. someone whose sole purchasing power comes from disreputable credit cards or drugs.)
Professional athletes - primarily Black athletes in football and basketball - have come to define the idea of nigga rich. Hip-hop artists and rap singers who decided saving money for the future was an act of fiduciary nonsense also fall into this category. And don't forget boxers.

Spending lavishly on "making it rain" and purchasing opulent clothes, extravagant fleets of cars and multiple residences where nocturnal recreation will inevitably lead to unpaid child support are actions that define the nigga rich motto of "get rich or die trying."

Sadly a lot of Black people with low credit scores rely on payday loans to purchase wants instead of needs that further increase their debt load. With single Black mothers having a net worth of $5, this only exacerbates the problem. Fortunately government programs do exist that help Black people get by, such as subsidizing cell phone service.

The rates of student loan defaults in the Black community show that a nigga rich entitlement culture is found among those Blacks with degrees who feel paying back loans is an akin to acting white.

Were these Black athletes and rappers aware of the magic of compound interest they'd never be in the predicament of Jamarcus Russell, a former NFL Draft No. 1 pick whose penchant for imbibing the purple drank and spending lavishly has eroded a contract that had $31 million guaranteed (with the opportunity to earn more than $60 million):
JaMarcus Russell's return to greatness isn't going as well as planned.

The former No. 1 pick of the Oakland Raiders, famous for wearing mink coats and taxing a heavy toll on the team's bench, needs to find a job soon.

Foreclosure proceedings have started on Russell's Oakland mansion, according to TMZ. If the former LSU star can't come up with $195,512.05 in backed mortgage payments in the next three months, his house will be auctioned off.

Russell purchased the house in 2007 for $3 million before he even signed his contract with the Raiders.

The 5,800-square-foot has six bedrooms, six full bathrooms and two half bathrooms, a four-car garage, four fireplaces and bay views.

Russell returned to his native Alabama after being released by the Raiders in 2009. His attempts to return to the NFL have been slowed down by charges that Russell was illegally sipping "purple drank."

The Raiders signed Russell to a six-year contract worth up to $68 million, with $31.5 million guaranteed. But in true Al Davis fashion, the team is trying to recoup some of the signing bonus.

Buying bling, grillz, and other luxuries items, including paying for groupies -- as well as paying for entourages of brothers from the hood who act as leeches on an individual Black person's success -- all adversely impact a once healthy bank account.

Richard Lapchick has shown the disparity in college degrees attained by white athletes and Black athletes in football and basketball. It is a fact that most of these Black athletes at major colleges have woeful graduation rates and it is also a fact that NFL and NBA teams have rosters that are 70 and 80 percent Black.

Low Wonderlic scores an indicator of future financial insolvency? Perhaps a stacking in certain college courses and majors to help maintain Black eligibility in disciplines that lack any math, accounting or finance? 

The vast majority of these Black athletes sign contracts making them instant millionaires. The vast majority of these same Black athletes are financially illiterate, never understanding that the rules outlined in The Richest Man in Babylon can ensure monetary growth without continued earnings. These Black athletes are recruited to attend colleges where they are surrounded by adoring white alumni and a white fan base that is not nigga rich, but nevertheless treats them as Gods.

Financial Gods they are not:
In a less public way, other athletes from the nation's three biggest and most profitable leagues—the NBA, NFL and Major League Baseball—are suffering from a financial pandemic. Although salaries have risen steadily during the last three decades, reports from a host of sources (athletes, players' associations, agents and financial advisers) indicate that:
• By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress because of joblessness or divorce.
• Within five years of retirement, an estimated 60% of former NBA players are broke.
• Numerous retired MLB players have been similarly ruined, and the current economic crisis is taking a toll on some active players as well. Last month 10 current and former big leaguers—including outfielders Johnny Damon of the Yankees and Jacoby Ellsbury of the Red Sox and pitchers Mike Pelfrey of the Mets and Scott Eyre of the Phillies—discovered that at least some of their money is tied up in the $8 billion fraud allegedly perpetrated by Texas financier Robert Allen Stanford. Pelfrey told the New York Post that 99% of his fortune is frozen; Eyre admitted last month that he was broke, and the team quickly agreed to advance a portion of his $2 million salary.
The Wall Street meltdown is only the latest threat to athletes' financial health.
"Athletes have a different set of challenges from, say, entertainers," says money manager Michael Seymour, the founder of Philadelphia-based UNI Private Wealth Strategies. "There's a far shorter peak earnings period [in sports] than in any other profession, and in many cases they lack the time and desire to understand and monitor their investments."

Being nigga rich is a Black privilege in America, where the federal government will provide money for cell phones, free lunches, subsidized housing and other amenities. Minority contracts from the government also help to create the impression of being nigga rich, as well as the artificial Black middle-class that has been created through government jobs and affirmative action. 

The white privilege of paying for these programs would make a wonderful addition to the whiteness studies programs and curriculum nationwide. Saving money for the future is a white privilege that enables white families to teach their children the value of hard work, frugality, and wealth creation. Instead of being entitled to money, the idea that you rightfully earn it:
The guaranteed contract is a fundamental principle of Major League Baseball, as much a part of the game as balls, strikes and outs. No matter how a player performs, or how his body holds up, he must be paid in full. Only in rare cases — an injury sustained off the field, gross personal misconduct — does a player forfeit his paycheck.
But the case of Gil Meche is rare for an entirely different reason. Meche, a 32-year-old right-handed pitcher, had a contract that called for a $12 million salary in 2011. Yet he will not report to Surprise, Ariz., with the rest of the Kansas City Royals for spring training next month. He will not have surgery to repair his chronically aching right shoulder. He will not pitch in relief, which involves a lighter workload.
Meche retired last week, which means he will not be paid at all. 

“When I signed my contract, my main goal was to earn it,” Meche said this week by phone from Lafayette, La. “Once I started to realize I wasn’t earning my money, I felt bad. I was making a crazy amount of money for not even pitching. Honestly, I didn’t feel like I deserved it. I didn’t want to have those feelings again.” 
Being nigga rich doesn't last forever. Bills must be paid, debt must be collected, and mortgages are due. Child support and alimony payments are recurring and problematic reminders of past indiscretions. Purple drink hangovers aren't exactly classified as fun, but neither is the morning after "making it rain."
Live for the now, fail to invest in the future. That is the unofficial motto of Black Run America (BRA) and Stuff Black People Don't Like includes no longer being nigga rich. Spending more than you make is a recipe for bankruptcy and financial ruin and a hallmark of being nigga rich.

The problem is Black people love being Black and being nigga rich is a goal of almost all Black people. It's the consequences of this spending spree and the loss of financial security that displeases Black people.

Ironically, being niggardly with ones money is an obvious indicator of not being nigga rich.

25 comments:

Anonymous said...

LOL I love that word "niggardly."

Hirsch said...

Oh, well. Money and class are certainly not synonymous. As Paul Fussell wrote in his landmark book, when JFK watched Nixon on TV and remarked, "He has no class," he certainly wasn't talking about money.

http://www.amazon.com/Class-Through-American-Status-System/dp/0671792253

This book was brilliant and dead-on.

Anonymous said...

Nigga Rich is the absolute spectral opposite of the Greek proverb: “A society grows great when old men plant trees whose shade they know they shall never sit in.”

Anonymous said...

Three groups are always required in the progressive paradigm:

1) Bad lifestyle habits including immediate gratification and lack of personal responsibility are perpetually subsidized for one group. Sudden wealth of the nigger rich do not promote them out of this group.
2) Responsibilities for the subsidy are shifted by theft onto the backs of a second (productive) group.
3) A cut for the subsidy transfer is skimmed off by a third (elitist) group in order to entrench its wealth and power.

What is the end result? The end result is a kind of suicide cult:
Group #2 is sucked dry and killed off, followed closely thereafter by the eradication of group #3 by group #1, after which group #1 self-eradicates because its members have neither the personal nor external resources to save themselves.

Of course, nobody ever said that group #3 is not smart and cunning. They very well might wake up in time to slightly alter the paradigm, so that group #2 is kept alive just enough to always supply the other two groups... in effect, slavery and/or a kind of living death for group #2.

We got this way because the left patiently and cynically preyed upon the natural sympathies and goodness of Judeo-Christian traditionalists, by distorting language to disguise its agenda.

Anonymous said...

Middle class black status is propped up by welfare, governtment jobs programs for unemployable low IQ blacks, and affirmative action for blacks.

I have noticed that black "wealth" is always presented in a very cheap plastic ghetto way...lots of labels, bling bling, fake designer bags, elaborate sculptural hair styles, furs, diamonds, dripping gold, pimped out cars, status license plates, shine and sparkle, but no real class.

You have to have the middle class value system to go along with the money, and blacks just don't have it, ever. They don't have the family or social structures in place to support a middle class lifestyle or to build TRUE wealth. Blacks have learned how to find the loopholes in society, and so they always find a way to not pay their bills. They can just declare bankruptcy or walk away.

Ever see the lines at your local Payday check cash joint? That place is always hopping, especially in da hood.

Anonymous said...

"Middle class black status is propped up by welfare, governtment jobs programs for unemployable low IQ blacks, and affirmative action for blacks."

Are you serious? Middle class status from welfare?

Who ever gets a job that pays over 9 dollars an hour through some jobs program, especially the unemployable?

Where was I or most of the US when all of these IQ tests were given out?

As far as affirmative action is concerned, please send me a at least one link to an actual affirmative action program. The old, "I scored 100% on a police entrance exam and some black guy got 10% and became a cop" doesn't cut it.

-Black guy

Anonymous said...

Slang words like "Bling", Making it rain",and nigga rich will tell about as much about blacks as "The Brady Bunch" and "Father Knows Best" can tell us about white people. NOTHING.

-Black Guy

Anonymous said...

Slang words like "Bling", "Making it rain",and "nigga rich" will tell about as much about blacks as "The Brady Bunch" and "Father Knows Best" can tell us about white people.

I disagree.

And somehow I'm missing the connection between black slang terms, and sitcoms from the 50's-70's.

Karl Ketzer said...

>As far as affirmative action is concerned, please send me a at least one link to an actual affirmative action program.

Would you settle for an actual book? (Or would that be like kryptonite for a brotha?)
The Affirmative Action Hoax: Diversity, the Importance of Character And Other Lies (2d Ed.) by Farron Steven.

Anonymous said...

"Slang words like "Bling", Making it rain",and nigga rich will tell about as much about blacks as "The Brady Bunch" and "Father Knows Best" can tell us about white people. NOTHING."

OK, so tell your black brethren this next time you get your fade at the barber shop. They will laugh in your face. Black behaviors tell us a lot about black people. Black people are not like white people. We are different in all ways.

Blacks work TIRELESSLY to make sure we all know how black they are. Being black is a full-time job. This includes all of the above and then some. I believe them when they tell me who they are, but you are truly in denial.

And Black Guy, why are you always so surprised about everything? You don't know much about authentic black people. Blacks cannot build or hold onto wealth, they can only mimic white behavior. And you have missed the point that black "middle class" is a misnomer. Like the terms "family" and "marriage", it is just another example of black mythology. I thought you were an expert on sarcasm?

Anonymous said...

Post your face

Anonymous said...

I bet Black Guy is an Affirmative Action Negro, but he's too dim to realize it.

John said...

"Ironically, being niggardly with ones money is an obvious indicator of not being nigga rich. "

You've obviously never worked as waiter.

Jessica said...

Wow...this site is extremely ignorant. Funny how you all put yourselves on this high-horse, yet you all are FULL to the brim with HATE! I can only pray for you all, and await the demise of the older and very racist generations.

Anonymous said...

harsh truth

something black people don't like or appreciate at all. When facing something that is blatantly apparent and true , they will rebel against it no matter how factual it is. All you white people need to wake up and stop worshiping blacks due to their lack of education and civility. It seems that being black is a privilege nowadays. Welfare is suppose to help you get a job ; not nurture you for the rest of your life.

"we need to help them. they have been through a hard life"

What is this ? Are the lives of blacks your responsibility ? Let them handle their own life and see if they can manage it. Stop nurturing fully grown adults just because they are black.

They need to be responsible on their own just like all other races.

- Indian guy

Anonymous said...

Here's how the media is cheating you. Why didn't the media, newspaper or TV, make any mention of skin color originally when this happened?

If a white dare SAY anything about blacks, it's a major "hate crime", but this wasn't. Why is that?

http://www.snopes.com/politics/crime/newsom.asp

http://www.snopes.com/politics/crime/newsom.asp

Anonymous said...

I have a coworker that is black and is totally nigger rich... He's probably done the dumbest thing I've ever heard a man do... Moved in a online girl friend (never met before in person) into a new townhome that is 2k a month. Brags about buying her LV/Couch purses and now wants to buy a 10k trained dog... We work overseas and make plenty of money, but he's doing crap like this and is dumb enough to brag about it..... Stupid nigger rich... His picture should be shown next to this word when looking it up online.... Dumb nigger...

Anonymous said...

I have read several posts, I am a black man, and there is certainly no shortage of some blacks being "Niggardly", or living the "Nigga Rich" lifestyle. However, this mentality is not strickly relegated to blacks. There is also an ample supply of "White Trash" that yearns to showcase the "Nigga Rich" lifestyle (brief as that may be). Where are your stories about whites that have squandered away fortunes? This certainly isn't exclusive to blacks, and you can even find many examples of whites who were "nigga rich" in the realm of sports. The one solid point that you had before your article became about race bashing is that newly rich people are not very fiscally responsible. BUT you cannot stick this term soley to blacks as if no white person has ever in the history of the earth handled money in a not-so-smart fashion! This is more of a class/social/economical issue than a race/stereotype issue.

I could go on and on, but either you understand it or you don't. I invest wisely and live within my means to accumulate wealth! My experiences, education, and trials have taught me to invest wisely. I won't waist precious resources such as my time making a second arguement.

Anonymous said...

Whomever.. blogged, posted this absurd theory of all blacks..stop being a hater.. all of u that agreed with this ignorant shit. I will assume your ass is struggling.. and you need someone to blame and be angry with because, your life is going down the shit drain. Dumbass why the fuck would it matter to you how others choose to spend their money. Hey you should ask some of your white counterparts to support your hater fund. Like those white trash on meth, selling their grandmothers prescriptions medication for pain. How about all that damn plastic surgery, crackers spend to look like the niggers.. Dumb fuck.. talk about a race how about all those damn mexicans.. with all of their kids.. you feed them??? Some hood blacks, are smart to play the system vs.. lol!! And whatch subtle crackers like yourself... kill yo self when you loose your job. Better yet crackers will become depressed from not being able to keep up with the Jones's and kill the whole damn family including infants. Sick CRACKERS.. Oh , from Harvard white female.

Anonymous said...

How come all those " gangstas" cry when they get arrested. There's no all this " love ya bro " and " we family to each other" and " got your back" but the minute they get caught they start flipping the " brothers "

Jurisha Yarbrough said...

This is the most racist, ridiculous, bull crap I have ever read. Your ancestors brought us to the Americas...& you have the audacity to throw my people under the bus with this nonsense. Someone seems to be jealous. Why are you so angry with us and not all of my people live this way. To my knowledge it's a few of your people who are not so well with funds. The simple fact is your ancestors basically stole this country built this country with my people's blood. Your people still to this day want to destroy us because of a beef that happened 1000 of years ago (read the bible). Why are you all so bitter still. Find another topic to write about. It's not a race thing anymore. You're blinded by the truth we are all new era slaves everyone one of us are slaves to the American dollar, the Federal Reserve Banking system that has everyone in this country in debt. I mean you so called white people surely help raise that ceiling to the point of no return. You reap what you sow. The most powerful country built by thieves and murders is going to end. It's going to end if we keep division amongst the people, keep pointing fingers, & throwing up the race card. People with your attitude is the reason we can't go further. We all make this world go round not just "whites". Get off your alien spaceship Timmy & come back down to Earth open your eyes wake up you racist prick.

Ed M said...

Wow you colored folk looking for any reason, my meth addictions, my poor unwashed upbringing, my racism. Don't yall realize it's true? Y'all yes I said y'all, y'all can't figure it out yet? 2020 you'll be the majority in america and still be the lowest class citizens due to YOUR actions. Feed me, clothe me, make sure my kid has a christmas. There will always be a lower class, but you got the numbers. Change it. Stop begging and woman up, god knows your men are punks.

Ed M said...

Well i guess I must write again. You speak of folk angry and lashing out at colored folks I don't believe it's anger as much as it is reality. Last note I've read, posted by an obvious darker skined woman was quite rude. Fingers are not pointed. It's not us verse them,. The matter at hand is financial bankruptcy. Understand? The darker skined part of americia is draining the funds which the average american contributes thru taxes. It's sad actually. We pay for the incarcerated , we pay for fatherless children, we pay for your bus passes and rent..... You must come to realize you are the future. By 2025 you will by the majority in America. What then? Y'all. Yes y'all. Y'all must woman up ladies it's up to you.

Tahsheanna Pratcher said...

I'm going to pray for you, and hope that God has mercy on people like you
-sincerely the black girl

Tahsheanna Pratcher said...

I'll pray for you and hope that God has some sort of mercy for you
-sincerely the black girl who doesn't fit in your pathetic stereotypes