A $95,000 question: why are whites five times richer than blacks in the US?

The Guardian (UK) ^ | 5/17/10 | Chris McGreal

[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.

[conservatism_IS_compassion]

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 . . . because of racial discrimination

“Racial discrimination hasn’t increased in the past generation.”

You couldn’t be more wrong, there is FAR more racial discrimination in hiring, white males are the last to be considered for many jobs, especially government jobs, there is blatant discrimination against whites in university admisssions. Most absurdly we have a president who obviously would not be in office if he were a blue eyed blond but identical in all other respects.

Thanks for the correction . . . which certainly makes our case!

[DontTreadOnMe2009]

Yes, the usual very very poorly written MSM story

with lots of propaganda built in.

Po’ guy ...

[Cronos]

Reasons:
1. They were discriminated against
2. Like all groups (including "majorities") they tend to congregate
3. Now they have discrimination within these "ghettoes" for those who do not follow the norm i.e. those who study are labelled "acting white"
4. Because the majority in the 70s and 80s were not qualified, employees began following "rational racism" where they thought "ok, so 99 of these ppl's resumes are not worth looking at, there's no point at looking at the 100th"
5. Due to 4, (not really racist at all, just logical employers), most blacks would have wondered what's the point (negative enforcement)
6. This goes into a vicious cycle.
7. Finally, let's be honest, there are exceptionally smart black folks and exceptionally dumb ones too -- it's just that there are statistically a larger % of smart East Asians, Jews, South Asians, Armenians, upper-class Britons etc. (keeping in mind this is for the UK, there are a number of really dumb Brits there, but they're mostly lower class)

[Cronos]

you are VERY Right, and that’s a point I forgot. I think that plays a major factor.

[aruanan]

A $95,000 question: why are whites five times richer than blacks in the US?

They haven't been enslaved by the Democrat Party for about 190 years.

[Cronos]

And, upper-class whites have been richer for centuries!

[Ditter]

Could it be because they are raised hearing “whitey gonna keep you down, he not gonna let you be anything”? I have heard this from a black friend, now deceased.

Then if a kid is good in school he is accused of “acting white” by his peers. That is a bad combination of directives.

[Cronos]

As far as Appalachia, part of the problem is that even if they do get an education, there’s nowhere to USE that education unless they move far from home. Kind of a vicious circle.

And that's the same issue facing blacks living in ghettos

[Cronos]

no, look at Africa. The society there is mainly what Europe was in the 11th century — BIG MEN (i.e. chiefs). Black Africans in Africa are predisposed to dictatorship. In other countries it varies.

[Mom MD]

economic policies that favor the affluent?

How about economic policies that (used to) favor the working?

[RockinRight]

True, but moving from inner-city DC to Reston, VA (for a better job) isn’t the same as having to leave an entire state like West Virginia.

[RockinRight]

Yes, but most of those dictators have a Communist streak.

[Cronos]

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

Because Jamaicans etc. have a strong culture of their own, a positive one. And the Caribbean immigrants to the US also do not have the same issues African-Americnas have.

[Cronos]

Enoch Powell was wrong. There are many immigrants in the UK who merge well. Most of these (who assimilate) tend to be non-Muzzies.....

[Cronos]

at least we've got 1/4 million Poles. They are terrific people.

yes they are.

[struggle]

I’ve been accused of being racist many times by parents - I simply say, “My wife is not white, my brother in law is black.”

They shut up reaaaaal quick.

[Cronos]

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.

The head of Prudential is African.

[Cronos]

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.

The head of Prudential is African from Cote D'Ivoire

[Cronos]

“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.” —> you have a link for that? I’m not questioning you, I’d just like to read those stats for myself — there’s always something new to learn.

[tacticalogic]

Was $95,000.00 the amount of the government grant they got to cherry-pick and cook the statistics to come up with this report?