Skip to comments.White-Minority Wealth Gulf Widens
Posted on 07/26/2011 7:45:23 AM PDT by reaganaut1Edited on 07/26/2011 7:56:35 AM PDT by Admin Moderator. [history]
The wealth gap between whites and each of the nation's two largest minorities—Hispanics and blacks—has widened to unprecedented levels amid the housing crisis and the recession, according to new research.
The median net worth of white households is 20 times greater than that of black households and 18 times greater than that of Hispanic households, according to an analysis of newly available 2009 government data by the Pew Research Center, an independent think tank.
(Excerpt) Read more at online.wsj.com ...
How many folks understand the difference between average and median?
Lies, damn lies, and statistics.
I’ve seen several of these articles lately: whitey makes more money, etc.
Seems the MSM is complicit in the “big lie” that will start CWII. This next one will be a war of race first then religion as Islam tries to fill the power vacuums across the country.
I really don’t believe this....Whites are the ones that have been hurt by this recession...they WERE working. The other groups are standing in the same hand out lines as before.
There is a cure for that...its called "WORK".
Blacks are the only group in America that at a glance you can know with 95% certainy that they voted for the zero!
There are consequences to all actions.
You need a better simile.
In completely unrelated news:
People who work hard and who have a good attitude tend to earn more money.
People who believe that the world owes them a living don’t do as well.
Actually, you can work as much as you want, but if you don’t spend less than you earn, you’ll never have much wealth.
There are plenty of people of all races who spend their entire income, even if it is high.
Sounds to me like some people better get work and have loftier dreams.
You have to aspire to something greater than you current situation.
You have to have a dream.
It doesn’t happen by accident.
You have to want it. Whatever “it” is.
Most of the wealth of blacks and hispanics came from growth in home equity in the real estate bubble. In the critical states, like CA, real estate prices in really crummy neighborhoods got run up by all the questionable loans and now have gone back to lower levels. In the meantime, a lot of those people refinanced to take cash out and are now broke again.
They are trying to get support for more bad lending and redistribution of wealth at the expense of the real middle class..white, black and khaki.
So what. My family arrived here in the 1850s an have to a man (and woman) worked their butts off for 160 years and five generations, starting small businesses, working in corporations, becoming educated to hold jobs like teacher, couneslor, dentist, accountant and software designer.
Of course we have more money that the people who snuck in last year and live on welfare.
I’m so sick of the MSM, why do they right this tripe? Honestly!
HOW DARE YOU!!!
/S /S /S /S /S
Sounds like a lot of the minorities better get to f$%^ing work then.
I'll bet the differnce between left/right diferentiation for minorities flips like a light switch as you move up the income levels.
Oh, wait a minute, it's justified to take it from them, because they never created anything anyway. See, there was this huge pile of money that just naturally existed, and the rich people just got there first. So just take your share away from them. Don't bother working for a living, Big Government will hand it to you.
The Federal Reserve and our Federal Gov’t are, in sum, Robin Hoods in-reverse.
Their policies hurt the worker and middle class, and in the end, favor the rich and politically-connected.
I would think this has more to do with the recession than immigration. High unemployment hits employees more than employers. If the economy tanks and everyone is dragged down, the percentage of wealth located at the “top” would increase.
“Lies, damn lies, and statistics.”
You pick the statistics for the story you want to tell. In this case the writer is sure that even after decades of affirmative action, preferential treatment in college admissions, and government contracting that somehow there is a great disparity between “white wealth” and “black wealth”.
Using the mean would not tell much of a story, but when you use the median......suddenly you have racism.
I don’t believe it either. The underlying source of the data is suspect to me.
A bunch of people who specialize in “wealth inequality” are not good arbitors IMO. This story, which came otu yesterday, abounds in them.
Why no data presented on really minority - Asians in US ?
They are doing just fine, may be better than others.
How about big screen TV’s, BMW's, custom wheels, number of cellphones, X-Boxes, boom-boxes, low-riders, beer and liquor purchases, ability to game the welfare and healthcare systems? It all depends on how you measure wealth, I guess. Let's call these folks “the insouciant wealthy.”
A trip to the nearest upscale shopping mall reveals the truth.
Check out the luxury cars in the parking lot too.
Asians work their azzes off.
the Cupertino, CA school district is one of the most sought after school systems for it’s competitiveness.
Then look at their work ethic.
I have worked with guys who worked so hard and so many hours they literally fell asleep at work if there was a moment of free time.
Once saw two guys fall in the lunch room.
One was sprawled face down on the lunch table and the other was laying full back, with mouth open, passed out.
Hated to wake them up but I knew they would kick themselves for missing their appointments.
I saw a boss of mine in this position once, but it wasn't the result of working too hard.
Or black Africans from Africa or the West Indies. I recall they are doing very well, and appreciate being here.
In that case, we need to talk about the oppression and needs of Scots-Irish, Palatinate Germans, Lowland Dutch, Mennonite communals, Bohemian Czech, Ruthenian Catholics, Galicians, Hueguenot refugees, Dal Riata Scots, English Freedmen, Ukrainian kulaks, Serbo-Croatians, Slovenians, Tuscan Italians, Sicilian gangsters, and....well, everyone gets the idea.
Mexicans, Cubans, Spaniards, Guatemalans, Colombians...they're not a "victim" minority. They're just foreign ethnicities, ethnics who have been at war with Protestant civil society for 7 centuries. The reason for their "poverty" is their own social order, which they now seek to inflict on the previously mentioned ethnicities because...misery loves company, I guess.
They deserve no special consideration, certainly not income redistribution.
And a large fraction of them merely deserve deportation.
...Under demonrat Governance
...Because of obama, Reid and Pelousy.
Mean = rich white folks
Median = that grassy area in the middle of the road
Mode = a shopping place
Range = where the deer and the antelope play.
WHY IS THIS SO?
Boil it all down and it results in the fact that more of the one demograph work, strive and sacrifice and less of the other one does. Of course, this fact would be obviscated by pronouncements that the other has “less opportunity” etc, and therefore the governemnt must correct the issue through discrimination.... and wealth redistribution ploys.
Who would have ever guessed the dems and their “TRICKLE UP” economics would make the rich richer and the poor poorer?
You increase the number of people receiving goods and services paid for by the govt., the wealth doesn't go to the people at the bottom receiving the goods and services, the wealth goes to the people at the top providing the goods and services.
“Most people miss opportunity because it comes dressed on coveralls and looks like work”
(Hopefully I didn't butcher the message).
Grandpa had to have a certain amount of cash in his pocket and the promise of a job and a place to live in the States. He also had to have a sponsor guaranteeing same. He and Grandma had to be in good health with no communicable diseases. If all this was not in order, he and Grandma couldn't get on the ship for the New World.
Today, immigrants, legal or illegal, don't have to have any cash-in-fist, don't have to have a place to live and don't have to have the certainty of a job. They can have TB, AIDS or other communicable diseases and no one checks.
For this lack of any residence, job or health qualifications, they are rewarded very handsomely with our tax dollars....subsidized housing, food stamps, free medical care, free education.....and a job swiped from an American.
Progress...this is what it's all about, a century of American progress.
I really dont believe this
repectfully, i do.
for several reasons, most of which are the liberals fault.
there are many hard working black Americans.
and they have been hurt most by Obama’s policies.
and, the HUGE increase in minimum wage, ironically,
most hurt minorities.
so, many working minorities, are now completely out of work.
which increases the “disparity”.
Also, the EITC encourages many people to NOT earn more.
if that $6-9,000 was added to the “income” figures
(since it is “free” money they did NOT earn...)
it would further reduce the “disparity”.
plus i believe food stamps, and other benefits are not included.
...the points above about Asians, are interesting.
Just as with the “Achievement gap” in schools.
Don’t worry, to “correct” this, our government is dumbing down our public schools so our kids will not have an advantage over the illegal immigrants. There is still a gap now because they haven’t figured out how to stop the wealthy, which are predominantly white, from sending their kids to private school, or home schooling.
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.
Hmmmm... maybe they need to start “acting white”. Bums are responsible for their own misfortune.
These don't seem like the cultures of wealth. Do they count all hispanics and blacks in jail as zero income?
. . . or back in Mexico living the good life. I think it was a poster here who wrote that he knew of illegals buying a house during the run up, then after six months, selling it to a relative for $50K more, rinse and repeat a couple of times. Then after about a $200,000K profit the last seller and buyers all skip and let the house go into foreclosure.
“Im so sick of the MSM, why do they write this tripe? Honestly!”
Simple. The MSM are willing tools of the communists infesting our government. Their propaganda is designed to incite racial envy and social turmoil to overthrow this country. Those sickos are spiritually and morally bankrupt and corrupt.
It gives me great pleasure to think that at least half the guys in those pictures are no longer on this side of the grass.
There's your 5% black that didn't vote for obama.
“...the other was laying full back, with mouth open, passed out.
I saw a boss of mine in this position once, but it wasn’t the result of working too hard. “
Union worker from Chrysler?
We have GENERATIONS of minorities who have never worked a real job and have not had the benefit of their forebears telling them they must do this to get ahead. Their work ethic disappeared and they can’t and don’t want to get it back.
In the near future it will literally come down to if you don’t work, you don’t eat.
I wish there was study on how many indigents the average working class family supports through taxes...