White people have 13 dollars for every dollar held by black Americans


#1

The Great Recession was hard on almost everyone, eroding the net worth of the typical American by nearly 40 percent between 2007 and 2010. But the recovery has been more selective, according to a new analysis of Federal Reserve data by the Pew Research Center. While the wealth of whites leveled off as the economy began to heal between 2010 and 2013, blacks and Hispanics experienced continued decline.

washingtonpost.com/news/get-there/wp/2014/12/12/white-people-have-13-dollars-for-every-dollar-held-by-black-americans/

Obamanomics at work.


#2

I doubt it’s related to President Obama or the current economy. It’s just not surprising given the history of slavery in this country. It would take more than just 150-ish years for minorities to catch up, if it is even possible for the demographic as a whole.


#3

I wonder what black economist Walter Williams, or Thomas Sowell would say in response. :hmmm:

Jon


#4

It’s safe to say that in the grand scheme of things, the average white person is closer to holding the one dollar. The majority of money is sitting in a handfull of peoples’ accounts doing little for the economy.


#5

I think it is certainly possible, but there are a great many obstacles yet to be overcome. 150 years should have been plenty of time, but there is a need for changes of attitude on every side.


#6

So who’s white and who’s black? If you’re 75% European stock and 25% South American stock, are you “white?” What about 65% / 35%? Or does it just depend on skin tone? Because all my forebears are British, but I have Mexican friends who are way paler than my lilly white self? You eventually see the absurdity of race and whiteness and otherness. It really is ridiculous. Are Jewish people white? One of my longest and closest friends is blonde and blue eyed, but he’s Jewish. Is he white? He looks whiter than the Queen of England, so why wouldn’t he be considered white? Truly, all this stuff is just asinine beyond belief.


#7

An intact family is the best predictor of wealth. In addition, the income gap will widen as those on assistance flatline, while those working goes up.


#8

Junk statistics with a racial agenda, intended to inflame. I’d be more interested to know the racial analysis of the tax burden. And perhaps the Washington Post could also enlighten us as to why the situation they’re citing even exists after uncounted hundreds of billions of dollars have been spent since the days of LBJ on the “war on poverty.”


#9

This sounds like one of those “factoids” that is a poisonous falsehood. I don’t believe this for one second. :blush:


#10

I tend to agree.


#11

You’re right; it has a lot less to do with actual skin colour, and more to do with culture. Someone who partakes of “white culture” would be considered “white” even if he is actually very dark-skinned, and someone who partakes of “black culture” would be considered “black,” even if he is blonde and burns easily in the sun.


#12

Via USA census bureau, people who’s ancestors are from Europe, middle east or northern Africa, you are considered white. So your Jewish friend is racially white, ethnically Jewish.


#13

My understanding that there are now only two ethnicities: Hispanic and not Hispanic. Which of course is idiocy as 1) Hispanic is not an ethnic group but linguistic group, and 2) people typically do not define their ethnicity beginning with the word not.

Jon


#14

Never heard that one. Ethnicity is defined as belonging to a national or cultural tradition. I think it is safe to say that there are quite more cultural traditions than Hispanic and Non-Hispanic.
There’s this website called the Joshua project and in 2010 they had identified over 9,000 different ethnicities.


#15

I think somebody else has my $13 . . . :rolleyes:


#16

Back in the day, you were considered Black or Native even if you had white in you. Also, not a good think to be Irish or have a Celtic name.

I’m not fully white, but most Mediterranean people are probably darker than I am.

Truly, all this stuff is just asinine beyond belief.

It is, but people have an agenda and can’t worry about things like human dignity or the truth.

Money to be made, grievances to be addressed and someone’s gotta show those able-bodied straight white men what it’s like to suffer…


#17

African-Americans are worse off under Obama and the current economy.

Slavery? Try big government.


#18

Bingo. They are now in economic slavery. A Trillion dollars spent on the war of poverty kept those that pandered in elective office.


#19

blessed are the poor.


#20

Does big government also include the astronomical amount of money that the U.S. government spends blowing up brown people to hell and gone with ludicrously expensive military equipment?

BTW, being against big government AND recognizing that pronounced wealth disparity exists between whites and people of color in the U.S., are those two things mutually exclusive? Because they aren’t in my case. But a lot of people are acting like they must be.


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