hoodoodyke:

kiriamaya:

sovietcop:

basically anyone who really shames people for buying their kids shoes or for buying themselves a manicure while poor doesnt understand poverty

poor people often have a lot of disposable income, more than you think, cause they live on cash

they often do not have any means of transforming that cash into assets or into longterm wealth

so yes i had a lot of toys and nice things as a poor kid because you can buy toys at the dollar store too

and like you can pay a lady 10 dollars in cash to do your nails professionally

but you really cannot scrimp, at least not anymore (maybe decades ago you could) to buy yourself a house or to invest in stocks or other things that guarantee financial protection

poor people are liquid- thats why they may have material goods including nice cell phones but they broke ass will always be broke 

hell, even banks and financiers EXPLOIT the liquidity of poor people; cash advance places in the hood and the proven empirical facts that cash deposits from banks in low-income neighborhood go towards major investments and are used as liquid assets by big businesses

keeping poor people in cash and banks in poor neighborhoods are major transfers of wealth in this economy

so please spare me your policing of some lady who decided to get some shoes

Always reblog

It’s back

http://www.nytimes.com/2014/05/01/business/economy/changed-life-of-the-poor-squeak-by-and-buy-a-lot.html