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Recession hit minorities much harder than whites, report says
Orlando Sentinel ^ | July 26, 2011 | Kate Santich

Posted on 07/26/2011 6:56:28 AM PDT by ConservativeStatement

The Great Recession may have affected Americans from all walks of life, but it took a dramatically lopsided toll on the personal wealth of blacks and Hispanics, erasing many of the gains made over the past two decades, a new report shows.

The report, released early Tuesday by the nonpartisan Pew Research Center, found the median wealth of white households at the official end of the recession in 2009 was 20 times that of black households and 18 times that of Hispanic households — the biggest gap since the U.S. Census Bureau began collecting such data a quarter century ago.

(Excerpt) Read more at sun-sentinel.com ...


TOPICS: Business/Economy; Culture/Society
KEYWORDS: minorities; recession

1 posted on 07/26/2011 6:56:32 AM PDT by ConservativeStatement
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To: ConservativeStatement

how could that be?

we have black president who is so intelligent and economically literate.

/s


2 posted on 07/26/2011 6:58:05 AM PDT by ken21 (liberal + rino progressive media hate palin, bachman, cain...)
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To: ConservativeStatement

Just think when the freebies go away after January, 2013. Horrible /s


3 posted on 07/26/2011 6:58:33 AM PDT by SanFranDan
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To: ConservativeStatement

Women, children, minorities, homeless and the poor hardest hit....................


4 posted on 07/26/2011 6:58:33 AM PDT by Red Badger (PEAS in our time? Obama cries PEAS! PEAS! when there is no PEAS!..........................)
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To: ConservativeStatement

They voted for it.


5 posted on 07/26/2011 6:58:46 AM PDT by Tax-chick (Do you know why I love reptiles? It's because they don't play guitars.)
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To: ConservativeStatement

Well then it’s clear that minorites MUST want 0bama out.


6 posted on 07/26/2011 6:59:04 AM PDT by Principled
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To: Red Badger
I know a few white people who have been told this over the years: "Since I am a professional, it has been very difficult to find a job because all the places where I applied told me I was overqualified," said Arroyo, who has a bachelor's degree in business administration. "You do not see the same treatment for Hispanics as for the [non-Hispanic] Americans. We knock at many doors, and they do not open for us."
7 posted on 07/26/2011 7:01:07 AM PDT by ConservativeStatement (Obama "acted stupidly.")
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To: ConservativeStatement

Well, they elected the Kenyan. They need to deal with it.


8 posted on 07/26/2011 7:01:44 AM PDT by FlingWingFlyer (Hey Barry! Compromise this!!!)
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To: ConservativeStatement

Arroyo?.................means dry ditch.............


9 posted on 07/26/2011 7:03:39 AM PDT by Red Badger (PEAS in our time? Obama cries PEAS! PEAS! when there is no PEAS!..........................)
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To: ConservativeStatement
Well, it's always minorities that suffer the most, no matter what the trauma du jour may be.

And the solution, of course, is always to give them more of whitey's money.

10 posted on 07/26/2011 7:04:33 AM PDT by Joe Brower (Sheep have three speeds: "graze", "stampede" and "cower".)
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To: ConservativeStatement
If this does not prove that redistribution of wealth does not work, then what will?
The 'rich' and middle class got robbed, trillions of dollars were squandered and the poor are worse off than before.
And the left want more of this?

11 posted on 07/26/2011 7:05:09 AM PDT by BitWielder1 (Corporate Profits are better than Government Waste)
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To: ConservativeStatement

but what’s the value of those Cadillacs with those bouncy wheels?


12 posted on 07/26/2011 7:09:21 AM PDT by MNDude (so that's what they meant by Carter's second term)
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To: ConservativeStatement

Guess they will have to live with that change they helped put in the White House.


13 posted on 07/26/2011 7:09:25 AM PDT by ZULU (Crapo, Coburn and Chambliss are a herd of renegade RINOs.)
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To: ConservativeStatement

b/s article, the gas pump charges everybody the same price.
What I have observed is many who thought after electing Obama, they could do nothing and prosper. This was not true before Obama, and it still is not true.


14 posted on 07/26/2011 7:09:41 AM PDT by swamprebel ((jmho))
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To: Red Badger

Women, children, minorities, homeless and the poor hardest hit....................(By Obama’s dreams of becoming world dictator!)


15 posted on 07/26/2011 7:11:36 AM PDT by Steamburg (The contents of your wallet is the only language Politicians understand.)
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To: swamprebel

Something similar to this?

http://www.youtube.com/watch?v=P36x8rTb3jI&feature=related


16 posted on 07/26/2011 7:12:18 AM PDT by ConservativeStatement (Obama "acted stupidly.")
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To: ConservativeStatement
I just don't trust these stats, these days I am poor, but since I own my home I would be counted as rich. BS, all this stat is saying is that minorities lost most of the houses in the sub-prime. Which makes sense since most of the sub primes were to minorities, by design!
17 posted on 07/26/2011 7:13:44 AM PDT by jpsb
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To: ConservativeStatement

Hey, minority folks, out there. Quick question, “How’s that Obama Hope & Change working for you??? Please learn some some honest fact right now!!! POTUS Barack Hussein Obama has been and is your worst nightmare and enemy!!! The sooner you folks come to terms with that, the better off you will be!!! Becoming economic slaves of Obama and the Democrat Party is no way to move forward for yourselves and your children to come!!!


18 posted on 07/26/2011 7:16:36 AM PDT by JLAGRAYFOX
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To: ConservativeStatement

ahh yes, exactly! And this gut too...
http://youtu.be/vY84fF2hzhY


19 posted on 07/26/2011 7:22:45 AM PDT by swamprebel ((jmho))
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To: ConservativeStatement

ahh yes, exactly! And this guy too...
http://youtu.be/vY84fF2hzhY


20 posted on 07/26/2011 7:23:10 AM PDT by swamprebel ((jmho))
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To: ConservativeStatement

They wanted change, they got it.....enjoy!


21 posted on 07/26/2011 7:24:47 AM PDT by dfwgator
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To: swamprebel

Many are shocked to learn Obama cant improve their lives, only they can do that.

http://youtu.be/_Ojd13kZlCA


22 posted on 07/26/2011 7:28:28 AM PDT by swamprebel ((jmho))
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To: swamprebel
Judging by Julio's enthusiasm, maybe he was thinking Obama would say “Me and Julio down by the school yard.”
23 posted on 07/26/2011 7:33:02 AM PDT by ConservativeStatement (Obama "acted stupidly.")
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To: ConservativeStatement

Ah, so we’re expanding the group.

We have the disgusting corporations, the selfish rich, and now the privileged whites.

I keep thinking the Jews will have to fit in here somewhere, but so far the Marxists have been too guarded to do that.

Just like Hitler, they’ll get around to it.

One wonders what the “Final Solution” will be this time.


24 posted on 07/26/2011 7:34:28 AM PDT by DoughtyOne ($1.8 tril yearly deficits = $18 tril in ten years. So now we're talking $4 tril cuts? Really?)
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To: DoughtyOne
I had a close friend who was born in Cuba. He passed away some time ago. Absolutely hated liberalism. I lost touch with him but in his obit there was a mention of his conservative ideals. I can only imagine how he would be critical of articles like this.
25 posted on 07/26/2011 7:37:56 AM PDT by ConservativeStatement (Obama "acted stupidly.")
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To: ConservativeStatement

What is left unsaid is, for the most part, minorities total disdain of education. Hard to get and hold a job when you lack very basic skills, like reading and writing.


26 posted on 07/26/2011 7:50:16 AM PDT by engrpat (A village in Kenya is missing their idiot...lets send him back)
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To: ConservativeStatement

Sounds like a guy who had his head screwed squarely on.

Too bad we lost him.


27 posted on 07/26/2011 7:56:47 AM PDT by DoughtyOne ($1.8 tril yearly deficits = $18 tril in ten years. So now we're proposing $4 tril in cuts? Really?)
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To: ken21
how could that be?

we have black president who is so intelligent and economically literate.

Well, when you have an economic illiterate in the White House who has no clue as to what impacts his actions may have on the economy, it's simply the law of unintended consequences. obama just doesn't understand that removing the ability for people to get jobs in so many areas of the economy (primarily energy), the remaining available jobs go to those who are the most qualified and in the right place. his constituencies just don't make the cut, so naturally they're hurt the most.

28 posted on 07/26/2011 7:58:29 AM PDT by Real Cynic No More (The mighty zero, obama,does not warrant the respect necessary for his name to be capitalized.)
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To: DoughtyOne

Happened to catch a black liberal radio station today ...they are FEASTING on this research report today.

All whitey’s fault ...oh, yes it is. They were commisserting how they ALWAYS end up at the bottom, ALWAYS end up with the short end of the stick.

NO mention of baby mammas, baby daddies, or welfare squatting for the past, what, six generations or so??

It’s too comfortable to sit in a corner and cry racism ... too tough to TRULY give it a go and try to survive in a white man’s world. Might have to work, be humble, keep your marriage together and make it on your own ....nah, easier to just pull out the CARD.


29 posted on 07/26/2011 8:06:16 AM PDT by LibsRJerks
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To: ConservativeStatement

Unexpected.


30 posted on 07/26/2011 8:12:27 AM PDT by Disambiguator
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To: LibsRJerks

Sadly, I think your pretty close to a bulls-eye there.

The Democrat party, Lyndon Johnson, Jessie Jackson, Al Sharpton, the NAACP, and Roe of Roe vs Wade certainly worked their magic for blacks didn’t they.

On top of that you had the mirage of unbelievable mortgages going to put blacks into a home of their own too.

Swell!

This march to turn the U.S. into South Africa, has been revealed for what it is. Sadly, hardly anyone will understand the truth of it.


31 posted on 07/26/2011 8:14:27 AM PDT by DoughtyOne ($1.8 tril yearly deficits = $18 tril in ten years. So now we're proposing $4 tril in cuts? Really?)
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To: ConservativeStatement
Idi Obama and Holder have failed "their people?"


32 posted on 07/26/2011 8:15:23 AM PDT by N. Theknow (Obama and the Dems - The flash mob raiding the Treasury.)
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To: ConservativeStatement

Ha ha. The WSJ can’t read a balance sheet.

OK, so a bunch of financially un-qualified minorities were pushed into houses with no down payment liar loans. The housing bubble hits and they receive a massive influx of funny money from bubble prices. Call this “fake net worth”.

The bubble collapses, wiping out their “fake net worth” or better yet, they suck out all their “fake net worth” using their homes as ATMs.

Presto! Minorities look like they lost all manner of wealth in the housing collapse when in fact the wealth was never real to begin with.

I so hate the MSM with their PC lies.


33 posted on 07/26/2011 8:26:59 AM PDT by Freedom_Is_Not_Free (SP12: They called Reagan "unelectable", too.)
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To: Freedom_Is_Not_Free
I so hate the MSM with their PC lies.

A GREAT sentence by Bernard Goldberg (my emphasis): "Some in the media, I said, told their viewers and readers that default was just over the horizon because they were Obama allies and behaving more like stenographers than journalists.

One commenter on his website had this gem: "I listen to the mainstream media the way I used to listen to Radio Moscow during the Cold War: not for the news but for what they want us to think about the news. Those Americans of the World War II generation might remember Tokyo Rose and Lord Haw Haw."

34 posted on 07/26/2011 9:42:02 AM PDT by Oatka ("A society of sheep must in time beget a government of wolves." –Bertrand de Jouvenel)
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To: ConservativeStatement
nonpartisan Pew Research Center

An oxymoron if there ever was one.

35 posted on 07/26/2011 10:05:17 AM PDT by Oatka ("A society of sheep must in time beget a government of wolves." –Bertrand de Jouvenel)
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To: engrpat

Or when they assume that their skin color is the only qualification they need.

My job involves helping new hires make a smooth transition between training and production. I telecommute, so I have no idea what my coworkers look like unless they add a picture to their instant messenger profile. And I hate to say it, but 90% of the time if there’s a “problem employee”, when I go to talk to them the photo that pops up is of an african-american.

Now, this may be just demographics, I know a lot of my best coworkers are also african-americans. But I seldom see the “I’m so perfect, I can ignore the training” mentality nearly as often among the other ethnicities.


36 posted on 07/26/2011 10:06:29 AM PDT by Ellendra (God feeds the birds of the air, but he doesn't throw it in their nests.)
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To: ConservativeStatement

It is obvious why this report came out the way it did. Many of the minorities are newer arrivals and illegal. They held illegal building jobs during the real estate boom.

Other minorities are affirmative action placements and a company that is fat can afford to pull the dead weight in a booming economy, whereas they can not afford it in the obamaeconomy. Whites are older than are minorities and people who are older have more money than people starting out.

And then there is was the publication of the Bell Curve which put this radical left anti-white racist nonsense to rest in the 80’s. You can not get around people’s basic mental abilities in careers and earnings. You can’t get around people’s third world foreign cultures in multiculturalism either.


37 posted on 07/26/2011 1:13:36 PM PDT by SaraJohnson
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To: Oatka

Those are accurate sentiments. My problem is that too many Republicans and even conservatives are so busy with their lives, they don’t properly cull the MSM and are not yet skeptical.

For 10 years my younger brother tried to alert me to the bias in the MSM and I refused to believe him because I wasn’t ready to believe him and I didn’t have any basis to be skeptical of the MSM. That sounds incredible to me now just writingt that, but it was true at the time.

In the early 1980s I began shooting and owning guns and my first awakening to the MSM lies was that my personal experiences with guns and gun owners did not jive with the lies the MSM had been telling me all along. For once, I had a clear comparison between their lies and my own personal experiences.

Owning guns raised my awareness to the MSM lies.

My newfound skepticism gave me cause to cull their stories about Bill Clinton with internet sources such as Free Republic, and I saw a glaring difference between truth and their malicious spin and Democrat serving propaganda.

People have to be ready to see or they can’t see. More and more people see the extreme bias in the MSM but too many are just too busy working and raising children and trying to budget what is left of their over-taxed incomes to develop that initial awareness and skepticism they need to see the bias in the media.

And then there is the delusional lib-tards who live in a dream world where the MSM is telling them the “truth” need to cling to in order to reinforce their fantasies of utopian love and peace and harmony, Kumbaya. These can’t be talked too until a wife or daughter is raped, or a business is driven into bankruptcy, or a green job causes mass layoffs in their workplace. LLike the worst of junkies, these delusional sheep have to be severely harmed before they will even consider letting go of their Godless utopian socialist love dreams.


38 posted on 07/26/2011 3:00:47 PM PDT by Freedom_Is_Not_Free (SP12: They called Reagan "unelectable", too.)
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To: ConservativeStatement

since I am not white, but my wife is...does that mean I’m hit harder by the recession than she is? (LOL)


39 posted on 07/26/2011 3:07:38 PM PDT by BookmanTheJanitor
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To: BookmanTheJanitor

Is that a Good Times reference for your screen name?


40 posted on 07/26/2011 3:11:15 PM PDT by ConservativeStatement (Obama "acted stupidly.")
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To: ConservativeStatement
What idiot wrote this in past tense?

From where I sit, Øbozo's recession is still alive, well, and destroying Americans' dreams...

41 posted on 07/26/2011 8:04:13 PM PDT by TXnMA (There is no Constitutional right to NOT be offended.)
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