[RKBA Democrat]

Note how often cash is mentioned in this article.

[RKBA Democrat]

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[econjack]

I think I remember an article stating that, in Japan, earnings (i.e., interest) from savings accounts, bonds, and CD’s is tax exempt, which encourages people to save. This also encourages a larger pool of capital for investment purposes. This seems to make sense, which is probably why we do exactly the opposite in this country.

[monkeycard]

Note how often cash is mentioned in this article.

Cash is king.

[blam]

How are the Black ethnic centers doing?

[padre35]

1. A Asian/Mexican sushi chain?

I’d like to visit that restaurant!

2. Not only cash, but gold, these are unconventional investors and business people, old school Indians are known to buy Gold every week as a form of savings that cannot be inflated out of existence.

And of course, cash economy means little to no tax economy, which of course means Obamao’s minions will be trying to find a way to tax the wallets off of them.

[NaughtiusMaximus]

A friend of mine who was in the restaurant supply business told me that up until a short time ago when the IRS made minimum bookkeeping mandatory for all businesses, Chinese restaurant owners kept all records in their heads. Millenia of experience with taxation by despotic governments had taught them that lesson.

[Red6]

Cash is nice and most personal debt is to pay for consumption of services and products unrelated to anything that amounts to a real investment. However, in business, it is the various forms of debt that allows new ventures, massive growth, inspiring ideas to become reality, the real inventments that bring a return..........

Nice story, and the lessons people will try to deduce from this are irrelevant as it pertains to our economy at the macro. When lending gets tight, growth slows down. I don't care about La Toya and her $400,000 home. Let her go under, she should have never had that loan to begin with. But, it's the investments in capital machinery, R&D, new factories, the ability to have a great idea become a multi billion dollar industry in this nation which I'm worried about. Tight lending = economic slowdown.

[Altura Ct.]

So ethnicities support their own. Imagine that? Wonder what white people will do?

[Lorianne]

One important point not mentioned in the article is that Asian families tend to pool their resources and help each other out. Extended family members loan money to each other to start new ventures, most of the money stays within the family group. They all help each other out, and are good business people. This is the secret to their success over other groups ... family.

[AmericanInTokyo]

One thing is for sure.

You would have to be blind as a bat not to notice this and see this coming over the last 10, 20, 30, 40 years in America.

I have witnessed case after case of (particuarly Asian) immigrants, even dirt-poor, scared refugees fleeing chaos, courageously coming into the USA with very little, and moving up the ladder at astonishing speed.

ON the other hand, I saw Americans who came from five or six generations of Americans already here, on their fat asses, only putting in 9-5 M-F, couch potatoes, dumbed down and seduced by credit-cards and "Dancing With The Stars", and then complaining when life (and more industrious people) passed them by.

It's the turtle and the hare isnt it?

I just guess some people are destined to watch "Who Wants To Be A Millionaire". And then are are others who are just destined to work hard, not complain, and BECOME one.