Posted on 04/19/2012 3:05:09 PM PDT by Sam Gamgee
The median wealth of white households is 20 times that of black households and 18 times that of Hispanic households, according to a Pew Research Center analysis of newly available government data from 2009....
(Excerpt) Read more at pewsocialtrends.org ...
Did you read the full report, i.e., the PDF? The report describes the methodology and how the data were collected.
Here in Atlanta, you see a high end Mercedes, Bentley, or Italian exotic sports car it is being driven by a ‘person of color’ 9 out of 10 times.
You make some great points. Single motherhood is rampant in urban black communities as is generational welfare, and most reliable economic studies show single motherhood is one of the chief indicators of decline in wealth for women.
Which means this is not so much an economic problem but a moral or social problem within the black community itself.
If a white man has more than a black or Hispanic man it could be just that the Democrat party has kept the Black and Hispanic man on the handout line so much they have unwittingly become slaves of their own making through Generations of handouts ...
It ain’t got a darn thing to do with color it’s got to do with how your raised and what type of work ethic you were raised with ...
Of course you cant tell them that or a emocrat thet for that matter because the white man that works is unfair and racist because the party says so ...
Are they all that way ? of course not ! blacks , whites and Hispanics can all be racist but i don’t have to explain that to anyone here if you have ever been out in the world you have seen it from all races and in all cases in races racism is a usless evil tool used by the weak to justify their own lack of courage and willpower...
I’m going to go out on a limb and guess that ‘wealth gap’ and ‘at least one person in household employed gap’ are tightly correlated. I’m also going to guess that ‘wealth gap’ and ‘father in home gap’ are also closely linked.
Maybe blacks have a larger percentage of youth, which would explain lack of assets.
The SCF has been conducted triennially by the Federal Reserve Board since 1989. However, wealth data from these surveys are broken down into only two broad racial and ethnic groups: non-Hispanic white households and all other nonwhite or Hispanic households.
From the PDF
It also shows that blacks depended 65% of the time on their home as their financial asset of choice vs 44% of white. Other words blacks put more eggs in that rotten basket.
In which case one could make a couple conclusions:
One, blacks are the victims of misfortune of not being prepared for the bad lending practices of the US market.
Two, the push for home ownership by Clinton and Bush was misguided generally, and since it was pushed even harder on blacks, both Administrations, share some blame.
Let’s see a line chart with Black women having multiple babies out of wedlock, and counting on government as their support, and I’ll bet it would match these stats....what did they expect?
Of course they do. If you spend you life on welfare, you have nothing.
Better to look at blacks who whent to college and then have worked consistantly since graduation to one who has done the same thing, and who is white and hispanic and compare them.
To compare the 10+ years of hard work in factories and night school, and then a 20+ year professional career against 30+ years of welfare collection. To somehow suggest that there is a statistical difference, belies that fact that hard work produces results and wealth and welfare leaves the recipient poor.
Does anyone remember Apostle Paul’s admonition about teaching a man to fish?
Don't get out much, huh?
More whites have 401K plans, which are counted as wealth. More blacks work for government, and the net present value of a government pension is not counted as wealth. Neither is the income stream from welfare.
“Wealth Gaps Rise to Record Highs Between Whites, Blacks, Hispanics”
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I guess wealth is a reasonable metric of effort, ability, perseverance, stability of family, respect for the law and fiscal responsibility after all....
It couldn’t be from Intellectual Capacity, could it?
Not so much, I think. If you were correct, then why does the gap fluctuate so much from one year to the next? The answer is the economy. When the economy goes down the shitter, the bottom half suffers the most. Those with less education tend to be in the bottom half. Immigrants and ghetto dwellers have much less education.
ding ding ding
winner winner chicken dinner
She used to take kids into her home at times to protect them from their parents.
Bubba Rednecks pays for his food, clothing, shelter and kids' home schooling for the month and has enough left over to sock away $1000 a month in the bank.
Juan Valdez pays for his food, clothing and shelter for the month and has enough left over to send $1000 a month to his family back in Cartagena.
Eric Holder's person spends it all the first day on cornrows, a four-pack of 24-ounce Colt 45 malt liquor and a street-corner game of craps.
At the end of a year Juan Valdez and Eric Holder's person have spent all their money and have nothing to eat and plead with pResident Obama to help them.
Barack Obama has the FBI check everyone's bank accounts and discovers that Bubba Redneck has been hording money and, in the name of "fairness," has it transferred to the federal government, where a fourth of it is distributed among the two poor families of Juan Valdez and Eric Holder's person, and the rest is used to cover federal overhead expenditures, Las Vegas junkets for various federal agencies, and golf memberships for the entire White House staff at Augusta National.
The cash equivalent value of the total benefits a welfare family will receive is about $2 million. They are virtual millionaires.
Asians and non-Hispanic whites do better materially than blacks and Hispanics because they are better educated.
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