"Poor mentality" is NOT why you're broke. You're meant to be broke in a capitalist society.
Channel: MaylingStudio
Date: 09/12/2021

Let's talk about “poor mentality” and that’s not the reason why you’re broke. Now you might be thinking that after 2020 most people will have understood that our access to money is largely out of our control… 

However many wealthy people, especially those that claim to be able to teach you how to become rich often seem to base their advice on the premise that rich people just happen to think and behave differently. And if you can just learn their secrets you too can be wealthy beyond your wildest dreams.

But in this video will will talk about 
-Why this premise that there is a “poor or rich mentality” is false.
-And how chasing wealth is what actually keeps us poor.
-The system will never allow you to be rich

It seems to me that this “poor mentality vs rich mentality” talk is a nice way of saying: you’re poor because you’ve never thought of being rich before. When in actuality you’re poor because those are the conditions into which you were born. And if you are born into wealth, well you will likely be taught by your family what to do with your money. I mean you will literally have a reason to learn about saving money and investing etc..

There are literally zero advantages for the system in which we exist to train you to have poor mentality. Everything that benefits capitalism and the people at the top has to do with training people to work, be as productive as possible, and to get you to think that in doing so you will attain wealth and prosperity. 

Stop blaming your “poor mentality” for being broke. You’re meant to be broke in a capitalist system. It’s the only way you’ll agree to be a worker. While wealth is just the carrot on the stick to keep you pushing forward. The actual “rich mentality”: not paying taxes and syphoning the wealth of the working class. 

00:00 Intro
00:44 Poor vs. rich mentality
03:23 The illusion of Upward Mobility
09:02 Can you actually be rich?
16:43 Investing in property
19:56 Conclusion



Sources used in this video:

Steve harvey https://www.youtube.com/watch?v=RGk8QXVnsN8&ab_channel=TheOfficialSteveHarvey

Oprah footage https://www.youtube.com/watch?v=iY_OgRhYH7Q&ab_channel=AmandaSmith

Sorelle Amore Finance “You’re Trained to be poor https://www.youtube.com/watch?v=eAOxiDK8e0Q&ab_channel=SorelleAmoreFinance

Jordan Belfort's Tiktok https://www.tiktok.com/@wolfofwallstreet/video/6983084276518636805

Research conducted by Brad Barber at UC Davis, based on Robinhood users, it was estimated that 90% of day traders lose money over a 7 year period. 

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3715077
https://www.evidenceinvestor.com/why-most-robinhood-traders-earn-lousy-returns/
https://www.reddit.com/r/Superstonk/comments/ne6nse/more_than_90_of_retail_investors_lose_money_in/


Institutional Investors: Power and Responsibility
Speech by Commissioner Luis A. Aguilar
U.S. Securities and Exchange Commission
https://www.sec.gov/news/speech/2013-spch041913laahtm

Which references the study  by Laura Casares Field and Michelle Lowry, Institutional versus Individual Investment in IPOs: The Importance of Firm Fundamentals, Journal of Financial and Quantitative Analysis, Vol. 44, No. 3 (June 2009), pp. 489-516.


The pension gamble is on YouTube  https://www.youtube.com/watch?v=_r0htm5uHPQ&ab_channel=FRONTLINEPBS%7COfficial


Articles about billionaire gains during the pandemic:

CBS News https://www.cbsnews.com/news/billionaire-wealth-covid-pandemic-12-trillion-jeff-bezos-wealth-tax/
Institute for Policy Studies https://ips-dc.org/u-s-billionaires-62-percent-richer-during-pandemic/
The Hill https://thehill.com/opinion/finance/553554-us-billionaire-wealth-skyrocketed-55-percent-during-pandemic-accelerating
Reuters https://www.reuters.com/article/us-wealth-billionaires-outlook-insight/in-2020-the-ultra-rich-got-richer-now-theyre-bracing-for-the-backlash-idUSKBN2BH0J7



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Music: “Business as Usual” by Harris Heller / www.StreamBeats.com