Posted on 12/12/2014 7:31:45 PM PST by ConservativeStatement
An unequal economic recovery has helped create the largest wealth gap between minorities and whites in more than a decade, a new report found.
The gap has grown, as white Americans -- who are more likely to own stocks -- rode surging financial markets to greater wealth, the Pew Research Center said Friday.
Meanwhile, minorities, hit harder by the housing crash, saw their wealth decline between 2010 and 2013.
(Excerpt) Read more at latimes.com ...
This is such drivel. I have friends who lost everything during the last housing market crash and because they are in their 70’s they will never be able to make up that loss. And, before that, the stock market tanked and they lost any investments they had. My husband and I lost well over a $200,000 in investments. We are also in our 70’s and if it weren’t for the fact that we are diversified in stocks, real estate, and have pensions, we would also be in dire straits. With the economy as unpredictable as it is, I have no expectations that our life style will improve. We do OK but we are not well off.
Obama killed $500,000 of my retirement investment. My wealth declined too.
During the Clinton era, immigrants coming into our country were given interest free loans to start businesses. When I heard that, I was VERY angry. Nobody ever gave us anything. More like, the government took as much as they could from us and more than they should.
I was referring to the housing crash. Minorities aren’t the only minorities. Many were vulnerable, and once trapped, they were trapped. There has been no relief since ... well, a little! ... but the situation remains the same.
Anyone depending on government is going to have an increasingly hard time.
The debt party can’t go on forever.
$500,000. . . that is so terrible. Our pensions weren’t that big to begin with.
“How about all the white people who own no stocks and got shafted by mortgage lenders AND layoffs?”
They are in the minority. No pun.
Probably because Obama and crew have been pulling the ladder up making it harder and harder to get up the ladder...
Duh...
These phony statistics never mention that non-cash benefits from government are not counted when they talk about income or in poverty statistics. People can be getting “free” everything - housing, food stamps, education for the kiddies, meals at school for the kiddies, free or reduced utility bills, and even a free phone - and none of that is counted. Nor is the earned income tax credit.
When you add in money made under the table and all the stuff that do-gooders collect for the “poor” - food, blankets, school supplies, fans, coats, subsidized phone and internet service ... you name it, and you get a completely different picture of income inequality.
Most poor people in the US have cars, houses, cell phones, cable TV, and other things that poor people in other countries can only dream about.
I do not believe there is anyone hungry in this country unless they are mentally ill homeless people or addicted to drugs or alchohol. The only kids who are hungry are those whose parents either neglect or abuse them or trade the family food stamps for drugs.
The people getting killed in the US are those of us in the middle who are taxed and guilted into supporting a burgeoning class of people who think the world owes them a living.
Don’t get me started! Every year at this time, our local Sunday paper features a family in need. Almost always it is a single mother with lots of kids. Where are the fathers? Why aren’t they supporting their own kids? And why do people continue to have children they know they can’t afford to feed? It’s infuriating.
I’m tired of the guilt being laid on people who support themselves and their families but who are forced to pay for the bad choices of others. Adding insult to injury is the absurd notion that responsible people somehow have to “give back” to people who never did a damn thing for them.
Must calm down now.....
Jews and Asians are minorities, and you don’t see too many of them on the dole or shoveling crap, do you? Maybe that’s because they have certain ... dare I say it ... values?
Jews are thrifty and apparently Asians have a slightly higher IQ than whites. Asians also tend to have several generations living together, sometimes above a restaurant of other shop that they own.
The blacks are victims of The Great Society which destroyed the culture that they previously had of being married and having small businesses.
There is no way around the fact that the family that stays together all the time and not just for rabid rioting in the street will do better.
Gee, what’s the diff between all of us who go to work every day and all the thugs and welfare bums who have endless amounts of time to spend standing on the streets and highways chanting “I can’t breathe”.
We can pay our damn bills. Get a clue, low-lifes. You can’t breathe because you’re sucking the air out of your own lives.
I have the theory that when hard times come, people start to either become more singular and start shedding frivolous behavioral traits and survive, or refuse to change/adapt and end up sinking. We’ve seen this through history time and time again. I do know that unless blacks drop the rioting and national temper tantrums, they will sink as a community and people. They can’t survive the hard times we’re in and the rest of the country’s communities can’t carry them anymore.
The government could stop it immediately by ending the life of leisure it affords welfare sows; they demonstrated that with the 1996 welfare reform (which put a dent in the black birthrate, helping propel Hispanics ahead of them as the minority du jour).
The “black church” is a political wing of the Democrats, which feeds the victimhood notion without a hint of any real Christianity.
Got shafted by mortgage lenders? Surely you jest.
Pew, I knew I smelt something, there goes that white priveledge again, I say we whites just sign up for all public assistance and allow the blacks and hispanics to take our places in the job market and fund us.
“funny thing is lots of foreign immigrants come here and after working hard become better off than native-born minorities.”
After that report a couple of months ago indicating all job growth had gone to immigrants (legal or otherwise), I’d say many of those foreigners are doing better than many other Americans as well. Companies are hiring the immigrants instead of Americans; they just cost less, and can be worked like serfs.
I have worked and paid in to Social Security for 50 years Did my best to save money for old age. I am not interested in the whining of people who only game the system for freebies and whine from their Escalades about how unfair it all is
Bill Cosby had the same issue with blacks buying expensive sneakers instead of Hooked on Phonics...
All about priorities. Blacks would be as successful as immigrants if they had to be; they aren’t because they don’t have to be (due to government programs which basically made them wards of the state).
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