Skip to comments.Wealth Gaps Rise to Record Highs Between Whites, Blacks, Hispanics
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 ...
“White Americans have 20 times the assets of black American households? How can that even be true?”
Maybe they didn’t put all their faith in Obama’s stash?
where’s the “That’s RACIST!” kid?
I’d like to see these stats compared to welfare stats. There may be a lesson in all this.
Should be interpreted as:
The ostensibly noble intentions of government to encourage home ownership among minorities by pressuring banks and mortgage companies to make home loans that would not pay back ended up hurting minorities instead of helping them.
Imagine that. . . our know-it-all federal government screwed it up again. Oh well, what is a few more minorities on government assistance? . . . Votes!!!!!
A few years ago when I watched BOR, he had a stat that he threw out that said of black households that had a man and woman in the house, that black familys were only 2% short of what the white families made.
That is what happens when they sit on their butts waiting for whatever the poverty pimps give them to live on.
As time waits for no man you either move forward or you will fall back, you will never stay the same because the world will pass you by.
What I’d REALLY like to see is how these numbers have changed from GWbush vs. under Obama. Since we know Obama has roughly doubled black unemployment, it wouldn’t surprise me if this was true. <p.
And this time it IS Obama’s fault!
Wonder if they compared how many DAD´S were at home with the momma being the principle bread winner...statistic. I´ve always heard that the number ONE cause of poverty is Single Mom households, then Divorce, then Alcoholism, and then Drugs. Would there be MORE black males on drugs than white males. It´s a genuine question. How about whites that finish H.S compared to blacks. Lack of education leads to lower wages.
What do they expect when they bring in thru immigration millions of high school dropouts who displace blacks and other Hispanics from low paying jobs?
In all race questions. from this to incarceration, to profiling, always ask, “give me the numbers for the Asians”.
In almost all cases it always “proves” that America is structured as a racist society which is racist in favor of Asians over whites, blacks, and Hispanics, etc, shocking, but.......
If you take the time to read the article and the full study, you would find that your question has been answered.
It’s probably true. Blacks are a very small percentage of the US population (although you’d never know it, since 99% of our attention is devoted to them) but even so have the highest rates of single mothers, welfare, imprisonment, etc., so averaging it out just between the two groups, the figure is probably correct.
I’m not sure where Hispanics - a group that is so broad it is almost meaningless - fall in the numbers game, but I think there are more Hispanics than blacks in the US, and therefore you have a bigger sample. However, their position is basically that of any immigrants, that is, arriving poor and working their way up, so the wealth gap isn’t that meaningful.
I don’t know what blacks are going to do unless they get that chip off their collective shoulder and start really working to get ahead, like everybody else. When they do, they progress just like everybody else, because there is no reason they shouldn’t. Unfortunately, the current government is encouraging just the reverse, and they feel as if they shouldn’t have to make any effort at all and that their project is something separate from that of the rest of their fellow-citizens.
I know. I did read the article. It lists what are included in assets and liabilities. I am just doubtful of the way they obtained this data. It was obtained not objectively but subjectively by a survey. I just don’t know how accurate information can be when you just ask people about their finances. Maybe white are bigger liars?
The article, you are right, does explain that between dates, the housing bubble hurt blacks more than whites. So blacks took riskier terms on their mortgages.
What it doesn’t explain is the presumption that in 1982, whites started by having 12 times the net assets of blacks. I just find that absurdly hard to believe.
The information for Asians is in the report. Yoyu are correct. Asians are doing better than everyone else in terms of mean net worth.
That’s what I am wondering. It was sent to me by a person who said class warfare IS race warfare, and this article was his proof.
I’ll bet the wealth gap has widened. What with the NBA and NFL almost exclusively black, it’s no doubt that the gap would widen.
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