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 ...
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.