Manage your money and prepare for the graying of the game, say rappers L.L. Cool J and Nas, who spoke this weekend at a Russell Simmons-sponsored event called the Hip Hop Summit on Financial Empowerment. "Ten percent to the church, ten percent to your house" was the distribution recommended by L.L.
Wow. That’s pretty flippin’ responsible. My gin-and-juice outlays alone outstrip those estimates. How do we feel about this, debt-ridden America? I mean, really: financially fastidious rappers? Sustainable wealth that isn’t one jewel-encrusted Hummer away from destitution? I thought the whole point of the conspicuous excess thing was to force hip-hop artists into debt, so they’d have no choice but to return with humiliating reality shows in the twilight of their careers? If they start saving and investing, well, whither the grim, shared irony? What will this do to shares of Cristal — to say nothing of the platinum bathtubs you’re supposed to keep it in? (It really does spoil if you don’t.)
L.L. must come to realize that, in today’s jumpy market, his comments carry Greenspan-ish weight. This could spawn either a recession — or perhaps a new breed of hip-hop artist. Get ready for Li’l Thrifty, with a new album, The Portfolio, produced (to cost) by the Notorious 401K. Now touring with Deductible.
With my credit cards, I can live like LL Cool J too!
Viva La Debt!
I’m liking the fact that symposiums like this have the chance to reach out to kids (as well as adults who act like kids), and show them that there is life after buying the great car, huge house and all that, and that they need to prepare for it. Probably the only thing to have made the session mean more would have been to have MC Hammer there, and have him share his story of bankruptcy and how his money went to all the wrong places. There’s nothing wrong with financial responsibility (says the girl in debt up to her eyeballs), and I applaud anyone with the influence to be heard for speaking about it.
A dollar short and a day too late. Wu Tang Financial has been around since at least three years and already gave us sound financial advice.
“Diversify your bonds, sucka”. Except they didn’t say “sucka”.
I commend these hiphop artists and empresarious, for their attempts to make hiphop culture more financially responsible.. Other genres of music have been doing it for years. We like our wealth to extend more then one generation!!!!!!!!!
the blacks can’t live in debt forever whitey
Whatever C, African Negro Colored Americans don’t live in debt baby. How can they be in debt when you CANT GET CREDIT!!! HAHAHA When you do get credit all that interest goes to the European Anglican Caucasions.