Black Money Business Jobs : Why the racial wealth gap won't go away

Discussion in 'Black Money Business Jobs' started by Clyde C Coger Jr, Jan 28, 2016.

  1. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    In the Spirit of They Say,

    Bernie speaks to income inequality and about political revolution.



    Video: Why the racial wealth gap won't go away

    For many black and Hispanic families in the United States, achieving financial security remains frustratingly out of reach



    A big reason for that is that blacks and Hispanics have far less wealth to start with than their white counterparts -- a concept known as the racial wealth gap.

    Wealth, or net worth, is the value of assets including your home, retirement savings and income minus the debt owed against those assets. According to federal data, the median wealth for white familiesin 2013 was around $141,900, compared to Hispanics at about $13,700 and blacks at about $11,000.

    "Everyone is pushing a boulder up a steep hill, but for African-American and Latino families it's a much steeper climb," said Jeremie Greer, the vice president of policy research at the Corporation for Enterprise Development, a Washington, D.C.-based economic think tank. Those families "are less financiallysecure than they've ever been," he said ...



    http://money.cnn.com/2016/01/25/news/economy/racial-wealth-gap/index.html

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    A new report issued by CFED paints a sobering picture of the economic future for many families of color, despite federal policies and programs that were created to help struggling Americans


    ...


     
  2. TheBlackBlur

    TheBlackBlur Well-Known Member MEMBER

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    All of that wealth gotten from the free labor of our people.

    Murica
     
  3. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    Yep, America is pitiful ... Which is why I will never give up on deserved Reparations like the others:

    https://destee.com/threads/bernie-and-hillary-have-the-same-position-on-slavery-reparations.85377/page-2#post-940440



    Reparations Movement Growing Strong...Closer than you think
    Discussion in 'Black People Politics' started by Clyde C Coger Jr, Apr 29, 2010

    https://destee.com/threads/reparations-movement-growing-strong-closer-than-you-think.61773/


    ...
     
  4. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    ...


    Federal Reserve Report: Black People Are Not Likely To Become Millionaires



    ... While the statistics did not go through the entire scientific verification process, Bloomberg did gather information from the Federal Reserve Bank of St. Louis and found some interesting results. For instance, they found that race may play a significant factor in determining a person’s chance of accumulating wealth ...


    http://financialjuneteenth.com/fede...ople-are-least-likely-to-become-millionaires/


    [​IMG]

    By Robert Stitt


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    ...
     
  5. Chevron Dove

    Chevron Dove Well-Known Member MEMBER

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    WOW! This is so depressing! How White people still managed to keep the wealth to the point of having statistics like this after 8 years of president Obama is so upsetting. Numbers don't lie though.

    I'm so grateful that you posted this thread.
     
  6. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    It is very depressing Chevron Dove.

    But it only continues to signal that Black Folk ain't united yet. We outspend all others, but we don't buy from our own :facepalm: not even books.

    Also, recall that Mr. Obama had to fight Congress, repeatedly. Whatever our first Black president wanted, they risked being obstructionist without even caring.

    When White Folk okay the dropping of America's credit rating, even some Democrats, just to go against Mr. Obama, no one can be upset with the president, without being more upset at the "do-nothing" 113th Congress:


    As a reminder, here's the 113th, do nothing Congress of "all time:"

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    It’s official: Congress hits all-time low in Gallup poll

    http://destee.com/index.php?threads/polit


    :facepalm:
    ...
     
    Last edited: Jan 29, 2016
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