"Economic enslavement through welfare is your 'social justice' and our vote getter!!!"
Posted on 05/19/2010 10:47:13 AM PDT by reaganrevolutionin2010
A huge wealth gap has opened up between black and white people in the US over the past quarter of a century – a difference sufficient to put two children through university – because of racial discrimination and economic policies that favour the affluent.
A typical white family is now five times richer than its African-American counterpart of the same class, according to a report released today by Brandeis University in Massachusetts.
White families typically have assets worth $100,000 (£69,000), up from $22,000 in the mid-1980s. African-American families' assets stand at just $5,000, up from around $2,000.
A quarter of black families have no assets at all. The study monitored more than 2,000 families since 1984.
(Excerpt) Read more at guardian.co.uk ...
http://www.npr.org/templates/story/story.php?storyId=4865449
There were also social factors, the study found. "In African-American families there is a much larger extended network of kin as well as other obligations. From other work we've done we know that there's more call on the resources of relatively well-off African-American families; that they lend money that's not given back; they help cousins go to school. They help brothers and sisters, aunts and uncles, with all kinds of legal and family problems," said Shapiro.
“Shapiro says the gap remains wide even between blacks and whites of similar classes and with similar jobs and incomes.”
That makes no sense.
I am not going to quibble about what the exact ratio is, since neither of us have exact figures right now, but I am going to bet its much higher than just a 2:1 ratio.
Unemployment amongst British blacks is much higher than amongst whites in the UK, and when blacks are employed, they have much lower paying jobs, and are hardly ever in executive positions. UK backs tend to live more in the council flats in the inner cities where crime is high, etc etc. The Guardian could do a whole series on these issues, but no, they'd much rather trash America every time.
I know the Guardian very well. I used to read that paper every day for years when I lived there. They are more anti-American than any newspaper I have ever seen, and I am fed up with their nonsense.
“And the reason is illuminating: the toxic loser-culture that pervades the ‘African-American’ experience is much less of a factor in Britain: our Jamaican, Sierra-Leonian and other African-extraction citizens do not have such colossal chips on their shoulders”
Look, we have had at least nine African Americans who have been CEO’s of Fortune 500 companies, including the CEO's of some of our biggest companies, like American Express and Xerox Corporation, two of Americans most prestigious companies. As far as I can recall, I have never seen any black guy head any of Britain's top companies before, not the FT 100 companies.
As for the Jamaicans in Britain you are going on about, I still remember them carrying out some serious riots in Brixton(South London), because they thought the British police were too racist and had been harassing them. Both the US and the UK have had issues with race, but to hear the Guardian tell it, America is the racist country.
“A huge wealth gap has opened up between black and white people in the US over the past quarter of a century – a difference sufficient to put two children through university”
MIT offers every single course online for free at ocw.mit.edu - the material and plan is there if the student is motivated. Many other schools are doing the same to some degree.
If you’re motivated, education is free. Supervision and certification costs extra.
There is no excuse.
I demand an answer.
Let me ‘splain it to you.
If two families both make 50k,
and one saves/invests 10%, buys investments that go up in value, etc,
and the other spends 99% of their income on toys, consumables, interest payments on credit cards and
car payments, and buys other non-appreciating “assets”,
which one is going to be wealthier after 10 years?
The answer is easy. THE DEMOCRAT PARTY. They need to have a group(s) that will always be kept in need to justify their existence.
More racist conspiracy theory from the Left. Nazis did the same thing with the Jews.
Yeah?
Ever heard of a guy called Bernie Grant aka “the high priest of conflict”, who also just happened to be a Labour MP?
Guy was one of the biggest demagogues I ever saw.
Correct me if I am wrong, but didn't this guy regularly demand special “black sections’ within the Labour Party?
They didn't call him “Barmy Bernie” for nothing.
Race is not a relevant factor in lifetime earnings. The determinants are:
1. Father in the household.
2. Finish high school.
3. No pregnancies before marriage.
4. Marriage after 20.
5. No arrests.
Each and every factor that determines income is under our control. Refusing to take responsibility for your life and blaming others for your problems are good predictors for losing the game of life.
No need to read the article. Don’t we already know?
because once a person of color becomes “rich” then they are no longer counted as a person of color.
You can’t count your gubernment housing as an asset.???
A $95,000 question: why are whites five times richer than blacks in the US?
Short answer: time preferences
Definition of time preference:
Inclination of a consumer towards current consumption (expenditure) over future consumption, or vice versa. What may induce a consumer to delay consumption is called Rate of Time Preference amount of money (expressed as a proportion of the consumer’s current income) that will compensate him or her for forgoing current consumption. This rate corresponds with the market interest rate and depends (among other factors) on the consumer’s expectations of the future income. If the future income is expected to be higher than the consumer’s current income, he or she will have a high rate of time preference; thus, the interest rate has to be high enough to induce savings instead of spending. Similarly, if the future income is expected to be less than the current income, a rational consumer will be inclined to save even if the interest rate is low. Also, the consumer’s rate of time preference (hence the interest rate demanded) is likely to rise as the amount of his or her savings rises. Therefore, the consumer will limit his or her savings to the amount at which the rate of time preference equals the rate of interest. This concept forms the basis of the theory of interest proposed by the Austrian economist Eugen von Bohem-Bawerk (1851-1914).
This is probably related to cultural and other human factors.
Bingo. 7 out of 10 born outside marriage. Not a solid start.
Maybe just maybe because most whites are out busting their butts working or going to school to make something of themselves not thumping a basketball on the courts listing to crack music. Maybe we have a work ethic or a sense of responsibility to improve our lives and not leech off society. just maybe.
"Economic enslavement through welfare is your 'social justice' and our vote getter!!!"
It is well documented that within the same income stratum whites SAVE MUCH MORE THAN BLACKS. All other things being equal, a black man making $75,000/year will save less than the white guy in the same cube making the same salary.
Racism has nothing to do with it.
“One could not have devised a more effective plan to destroy the African American race than the Great Society and Welfare has done.”
Agreed, yet upon close examination all social programs have as their bottom line, buy votes, no matter the cost. Fiscal or human.
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