Check out this article about consumption. It says that the less money your peer group has, the more bling you buy. Here's an excerpt...
'An African American family with the same income, family size, and other demographics as a white family will spend about 25 percent more of its income on jewelry, cars, personal care, and apparel. For the average black family, making about $40,000 a year, that amounts to $1,900 more a year than for a comparable white family. To make up the difference, African Americans spend much less on education, health care, entertainment, and home furnishings. (The same is true of Latinos.)'
WTF? SMDH @ how materialism has destroyed many minds. Money looks much better sitting in the bank or in investments than on your chest or hands people.
Thursday, August 7, 2008
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