Whites now 20 times as wealthy as blacks, Hispanics lose 2/3rds of their wealth

Started by jimmy olsen, August 23, 2011, 05:15:58 AM

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jimmy olsen

August 23, 2011, 05:15:58 AM Last Edit: August 23, 2011, 09:28:16 PM by jimmy olsen


http://www.citylimits.org/multimedia/382/wealth-gap-hits-record-between-whites-minorities
QuoteA report by the Pew Research Center finds that white households' average wealth is 20 times that of black households and 18 times that of Hispanic households - the largest such gap in 25 years when records began- and roughly twice the ratios that had prevailed between these three groups for the two decades prior to the Great Recession that ended in 2009.

Aside from being terrible results in their own right, this is bad, bad, bad for social cohesion.
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11B4V

#1
August 23, 2011, 05:20:10 AM
Maybe "they" better get off welfare and quit haning out on the corner.
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#2
August 23, 2011, 05:20:40 AM
What the report doesn't say is that drop from white pipples from 2005 to 2009 was specifically all of Berkut's money.

The Brain

#3
August 23, 2011, 05:41:10 AM
Do these numbers include illegal wealth?
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#4
August 23, 2011, 05:41:43 AM
Quote from: jimmy olsen on August 23, 2011, 05:15:58 AM
Aside from being terrible results in their own right, this is bad, bad, bad for social cohesion.

So you're saying white people should spend more money?  :hmm:
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#5
August 23, 2011, 06:34:45 AM
Quote from: jimmy olsen on August 23, 2011, 05:15:58 AM
Aside from being terrible results in their own right, this is bad, bad, bad for social cohesion.
How the fuck is this true "now" when the data is from two years ago?   :huh:

This kind of "analysis" is  :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: ^100000

Two snapshots chosen for no scientifically valid reason does not tell us fuck-all.  The more so when it is data that is old and cryptic.
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Valmy

#6
August 23, 2011, 08:14:32 AM Last Edit: August 23, 2011, 08:18:00 AM by Valmy
How does a household make $5,000 a year?  That is one third of the annual income of one person making minimum wage.  The average black household has one third of a person working a minimum wage job?
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#8
August 23, 2011, 08:18:35 AM
Bah it is the median household....

Still.
Quote"This is a Russian warship. I propose you lay down arms and surrender to avoid bloodshed & unnecessary victims. Otherwise, you'll be bombed."

Zmiinyi defenders: "Russian warship, go fuck yourself."

Valmy

#9
August 23, 2011, 08:19:05 AM
Quote from: Ed Anger on August 23, 2011, 08:17:40 AM


It must be nice to be rich enough to afford poker playing dogs.
Quote"This is a Russian warship. I propose you lay down arms and surrender to avoid bloodshed & unnecessary victims. Otherwise, you'll be bombed."

Zmiinyi defenders: "Russian warship, go fuck yourself."

garbon

#10
August 23, 2011, 08:23:09 AM
Quote from: Valmy on August 23, 2011, 08:18:35 AM
Bah it is the median household....

Still.

Your point still stands as that means that less than half of black households are making that amount. I guess most are making 0?
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#11
August 23, 2011, 08:24:48 AM
Quote from: CountDeMoney on August 23, 2011, 05:20:40 AM
What the report doesn't say is that drop from white pipples from 2005 to 2009 was specifically all of Berkut's money.

WTF is your deal?

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DGuller

#12
August 23, 2011, 08:29:15 AM
Quote from: Valmy on August 23, 2011, 08:14:32 AM
How does a household make $5,000 a year?  That is one third of the annual income of one person making minimum wage.  The average black household has one third of a person working a minimum wage job?
This is net worth, not income.

Valmy

#13
August 23, 2011, 08:33:14 AM
Quote from: DGuller on August 23, 2011, 08:29:15 AM
This is net worth, not income.

Ah so really it is a measure of home ownership versus debt for lower and middle classes.  I guess this means that over half of Latinos and Blacks rent.
Quote"This is a Russian warship. I propose you lay down arms and surrender to avoid bloodshed & unnecessary victims. Otherwise, you'll be bombed."

Zmiinyi defenders: "Russian warship, go fuck yourself."

Martinus

#14
August 23, 2011, 08:33:30 AM
I suspect this is more to do with negative equity caused by the real estate bubble burst than with people actually becoming poorer as a result of drop in income.
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