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Wealth Gaps Rise to Record Highs Between Whites, Blacks, Hispanics
Pew Research ^ | July 26, 2011 | Pew Research

Posted on 04/19/2012 3:05:09 PM PDT by Sam Gamgee

The median wealth of white households is 20 times that of black households and 18 times that of Hispanic households, according to a Pew Research Center analysis of newly available government data from 2009....

(Excerpt) Read more at pewsocialtrends.org ...


TOPICS: Weird Stuff
KEYWORDS: blacks
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Basically looking for critiques. I really have a hard time buying this research. White Americans have 20 times the assets of black American households? How can that even be true?
1 posted on 04/19/2012 3:05:13 PM PDT by Sam Gamgee
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To: Sam Gamgee

“White Americans have 20 times the assets of black American households? How can that even be true?”

Maybe they didn’t put all their faith in Obama’s stash?


2 posted on 04/19/2012 3:06:51 PM PDT by Magic Fingers (Political correctness mutates in order to remain virulent.)
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To: Sam Gamgee

where’s the “That’s RACIST!” kid?


3 posted on 04/19/2012 3:07:44 PM PDT by max americana
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To: Sam Gamgee

I’d like to see these stats compared to welfare stats. There may be a lesson in all this.


4 posted on 04/19/2012 3:11:12 PM PDT by JoSixChip (We had an opportunity to get Newt, but you blew it and now we get mitt.)
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To: Sam Gamgee
. . .the bursting of the housing market bubble in 2006 and the recession that followed from late 2007 to mid-2009 took a far greater toll on the wealth of minorities than whites.

Should be interpreted as:

The ostensibly noble intentions of government to encourage home ownership among minorities by pressuring banks and mortgage companies to make home loans that would not pay back ended up hurting minorities instead of helping them.

Imagine that. . . our know-it-all federal government screwed it up again. Oh well, what is a few more minorities on government assistance? . . . Votes!!!!!

5 posted on 04/19/2012 3:18:22 PM PDT by RatRipper (I'll ride a turtle to work every day before I buy anything from Government Motors.)
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To: Sam Gamgee

A few years ago when I watched BOR, he had a stat that he threw out that said of black households that had a man and woman in the house, that black familys were only 2% short of what the white families made.


6 posted on 04/19/2012 3:19:12 PM PDT by rightly_dividing (Newt 2012)
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To: Sam Gamgee

That is what happens when they sit on their butts waiting for whatever the poverty pimps give them to live on.

As time waits for no man you either move forward or you will fall back, you will never stay the same because the world will pass you by.


7 posted on 04/19/2012 3:22:33 PM PDT by Sequoyah101
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To: JoSixChip

What I’d REALLY like to see is how these numbers have changed from GWbush vs. under Obama. Since we know Obama has roughly doubled black unemployment, it wouldn’t surprise me if this was true. <p.
And this time it IS Obama’s fault!


8 posted on 04/19/2012 3:22:41 PM PDT by boop (I hate hippies and dopeheads. Just hate them. ...Ernest Borgnine)
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To: boop

Wonder if they compared how many DAD´S were at home with the momma being the principle bread winner...statistic. I´ve always heard that the number ONE cause of poverty is Single Mom households, then Divorce, then Alcoholism, and then Drugs. Would there be MORE black males on drugs than white males. It´s a genuine question. How about whites that finish H.S compared to blacks. Lack of education leads to lower wages.


9 posted on 04/19/2012 3:27:53 PM PDT by rovenstinez
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To: Sam Gamgee

What do they expect when they bring in thru immigration millions of high school dropouts who displace blacks and other Hispanics from low paying jobs?


10 posted on 04/19/2012 3:31:46 PM PDT by kabar
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To: Sam Gamgee

In all race questions. from this to incarceration, to profiling, always ask, “give me the numbers for the Asians”.

In almost all cases it always “proves” that America is structured as a racist society which is racist in favor of Asians over whites, blacks, and Hispanics, etc, shocking, but.......


11 posted on 04/19/2012 3:33:02 PM PDT by ansel12 ( Romney is a Mormon Bishop, as was his father, his uncle was in line to be the Mormon Prophet/Pope)
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To: boop

If you take the time to read the article and the full study, you would find that your question has been answered.

12 posted on 04/19/2012 3:34:58 PM PDT by kabar
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To: RatRipper
Good point. Still the figure of over $100,000 even for whites I have a hard time believing. Seems to me most Americans live paycheck to paycheck.
13 posted on 04/19/2012 3:36:45 PM PDT by Sam Gamgee (May God have mercy upon my enemies, because I won't. - Patton)
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To: Sam Gamgee
It's Pew. Take it with a boulder-sized grain of salt.
14 posted on 04/19/2012 3:39:17 PM PDT by Major Matt Mason ("Journalism is dead. All news is suspect." - Noamie)
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To: Sam Gamgee

Communist propaganda


15 posted on 04/19/2012 3:40:30 PM PDT by TexasRepublic (Socialism is the gospel of envy and the religion of thieves)
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To: Sam Gamgee

It’s probably true. Blacks are a very small percentage of the US population (although you’d never know it, since 99% of our attention is devoted to them) but even so have the highest rates of single mothers, welfare, imprisonment, etc., so averaging it out just between the two groups, the figure is probably correct.

I’m not sure where Hispanics - a group that is so broad it is almost meaningless - fall in the numbers game, but I think there are more Hispanics than blacks in the US, and therefore you have a bigger sample. However, their position is basically that of any immigrants, that is, arriving poor and working their way up, so the wealth gap isn’t that meaningful.

I don’t know what blacks are going to do unless they get that chip off their collective shoulder and start really working to get ahead, like everybody else. When they do, they progress just like everybody else, because there is no reason they shouldn’t. Unfortunately, the current government is encouraging just the reverse, and they feel as if they shouldn’t have to make any effort at all and that their project is something separate from that of the rest of their fellow-citizens.


16 posted on 04/19/2012 3:42:51 PM PDT by livius
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To: kabar

I know. I did read the article. It lists what are included in assets and liabilities. I am just doubtful of the way they obtained this data. It was obtained not objectively but subjectively by a survey. I just don’t know how accurate information can be when you just ask people about their finances. Maybe white are bigger liars?

The article, you are right, does explain that between dates, the housing bubble hurt blacks more than whites. So blacks took riskier terms on their mortgages.

What it doesn’t explain is the presumption that in 1982, whites started by having 12 times the net assets of blacks. I just find that absurdly hard to believe.


17 posted on 04/19/2012 3:45:27 PM PDT by Sam Gamgee (May God have mercy upon my enemies, because I won't. - Patton)
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To: ansel12

The information for Asians is in the report. Yoyu are correct. Asians are doing better than everyone else in terms of mean net worth.


18 posted on 04/19/2012 3:45:36 PM PDT by kabar
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To: Major Matt Mason

That’s what I am wondering. It was sent to me by a person who said class warfare IS race warfare, and this article was his proof.


19 posted on 04/19/2012 3:47:04 PM PDT by Sam Gamgee (May God have mercy upon my enemies, because I won't. - Patton)
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To: Sam Gamgee

I’ll bet the wealth gap has widened. What with the NBA and NFL almost exclusively black, it’s no doubt that the gap would widen.


20 posted on 04/19/2012 3:47:37 PM PDT by crosshairs (As long as there is evil, "Coexist" is impossible.)
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