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Median wealth of black Americans ´will
fall to zero by 2053´, warns new report

Guardian [UK], by Jamiles Lartey

Original Article

Posted By:Ribicon, 9/13/2017 10:54:27 AM

Growing up in the projects of Baltimore in the 1980s, things like savings accounts, stocks and bonds were completely foreign to Mysia Hamilton. Asked if her parents could have passed along some money to help her buy a car, go to school or put into a house, she can’t help but chuckle. “No, that wasn’t there. There was no wealth. My mother was working, she was providing – we weren’t on the street begging – but there was no money in terms of ‘here you go’. No money to pass down.” (Snip) Latino-Americans, who are also experiencing a sustained downward

Comments:
Marxist drivel from the Ford Foundation. To address problems of why some people do not or cannot plan for the future, will the Ford family hand over its white-earned wealth to be squandered by minorities (who the article says will soon be the majority)?

Notice also that it´s blacks and "latinos" who are specifically targeted by these mysterious forces. Asians fare very well, but this is ignored because it disturbs the narrative.

      


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Reply 1 - Posted by: Mickturn, 9/13/2017 10:59:49 AM     (No. 11382083)

All of them are doing exactly what their Democrap masters tell them to do...apparently the bad education they get in government screwels keep them down as well. WAKE UP FOLKS this IS NOT working for you!

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Reply 2 - Posted by: horacer, 9/13/2017 11:13:14 AM     (No. 11382103)

There was more wealth creation in the black community during the Reagan years than there was in the entire history of the nation up to that point. Free enterprise, free markets, free minds gives you the opportunity to create wealth. The lefts all out assault on the family and bourgeois values is killing black families.

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Reply 3 - Posted by: Northcross, 9/13/2017 11:16:50 AM     (No. 11382105)

If Bernie Sanders gets his way, the median wealth of all Americans will fall to zero by 2023.

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Reply 4 - Posted by: john56, 9/13/2017 11:20:18 AM     (No. 11382109)

Is that when you back out the "wealth" of the Obama family and various NBA stars?

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Reply 5 - Posted by: Jully, 9/13/2017 11:23:06 AM     (No. 11382111)

I read someplace that for all income levels, the savings rate for blacks is one fifth that of whites.

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Reply 6 - Posted by: Bur Oak, 9/13/2017 11:37:02 AM     (No. 11382126)

Evidently they aren´t counting all the taxpayer funded freebies.

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Reply 7 - Posted by: zephyrgirl, 9/13/2017 11:53:24 AM     (No. 11382144)

What is the role of culture in wealth accumulation?

I once shared an office with a black woman who bought modest cars, lived in a modest house and saved her money. Her mooching relatives were always asking her for money, and made fun of her cars and house. In a fit of anger once, she told me "yeah, they make fun of my little car, but they can´t afford gas for their Cadillacs, or their Cadillacs are up on blocks."

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Reply 8 - Posted by: FormerDem, 9/13/2017 11:53:50 AM     (No. 11382146)

Trump is on the way to fix this. He is getting zero credit but he understands the issue and it was one of the first things he said he planned to do, improve things (jobs, safety, schools, happiness) for the black community. He is getting on with it. I Love That Man. He is getting no help, is being called a Nazi, and he plows onward using all his cleverness to assist. My President. All others Dorks.

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Reply 9 - Posted by: earlybird, 9/13/2017 12:05:35 PM     (No. 11382156)

We lived a good life without a surplus of money due to excellent management by our parents. There were no stocks and bonds. There was not a great fortune left when they passed, although their investment in a home had considerably appreciated (much of that due to their taste, efforts to improve it, and excellent maintenance). But they gave us so much more.

I bought my own first car. I had no expectation that that would come as a gift from my parents. My education was at a community college. At that time, free except for taxpayer support. I began weekend and school holiday work with a permit when I was 14. I got the job on my own. That work experience gave me little spending money but priceless tools for success in my later life.

It is up to them to get the tools, live a decent life and value the right things. Not expect a handout from anyone, including their parents.

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Reply 10 - Posted by: Ribicon, 9/13/2017 12:07:31 PM     (No. 11382158)

Also not mentioned is that the Democrats have configured the welfare programs to ensure that the rich benefits flow only to unwed mothers, and to people who have almost no assets. This guarantees continued (manufactured) poverty, so like LBJ said, "I´ll have those N-words voting Democrat for the next hundred years." Spending every dollar that comes in is very good business for vendors of car accessories, gold teef, hair extensions, nail salons, etc. People who spend every cent right away are the best consumers money can buy, and are valued contributors to the American economy.

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Reply 11 - Posted by: BigGeorgeTX, 9/13/2017 12:39:17 PM     (No. 11382181)

How about going to work and buy your own car, pay for your own school and save your own money towards a house purchase like the rest of us "not to the manor born" do?

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Reply 12 - Posted by: JediJerry, 9/13/2017 12:58:48 PM     (No. 11382195)

Democrats are executing their Progressive plans to perfection and the results are beyond expectations. This will help unify the poor into greater class envy and warfare and increase the poor´ dependence on government to make it right. The left creates the problem then proposes the solution which is of course higher taxes increased welfare and more and bigger government with them in complete control. Welcome to Ameritopia.

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Reply 13 - Posted by: LC Chihuahua, 9/13/2017 7:56:22 PM     (No. 11382589)

Just an observation. Could be wrong....

Black culture has gone out of its way to spurn parts of white culture. Consequentially, more blacks do not save. If a black person saved money, other blacks might say they are ´too white´.

There are other things blacks won´t do because it might make them ´too white´. What percentage of blacks continue on into higher education, and what kind of degrees do they get?

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Reply 14 - Posted by: Charactercounts, 9/13/2017 11:49:47 PM     (No. 11382740)

Dr. Walter Williams has written about this.
He says that when blacks marry, stay together, and then have children, their economic status is comparable to whites.

His advice to whites is the same: education, marriage, then children.

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Reply 15 - Posted by: radrelic, 9/15/2017 2:47:12 AM     (No. 11383903)

I you took all the mixed blood "blacks" out of the equation how would that median income look right now?

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