The Average Black Family Would Need 228 Years to Build the Wealth of a White Family Today

[Strange Shadows]

according to the nation, filial wealth-sharing, the generation to generation dist. of previous holdings, has been pointed to as being one of the main culprit in the economic disparity between black and white families. more below:

Those are the key findings of a new study of the racial wealth-gap released this week by the Institute for Policy Studies (IPS) and the Corporation For Economic Development (CFED). They looked at trends in household wealth from 1983 to 2013—a 30-year period that captured the rise of Reaganomics, expanded international trade and two major financial crashes fueled by bubbles in the tech sector and housing prices. The authors found that the average wealth of white households increased by 84 percent during those three decades, three times the gains African-American families saw and 1.2 times the rate of growth for Latino families

the author adds that,

If those trends persist for another 30 years, the average white family’s net worth will grow by $18,000 per year, but black and Hispanic households would only see theirs grow by $750 and $2,250 per year, respectively. . . According to Princeton University sociologist Dalton Conley, the wealth of a child’s family is the single greatest predictor of that child’s future economic prospects. Conley, whose data did include things like cars and household goods, found that even white households hovering around the poverty line have a net worth of $10,000 to $15,000, but the typical black family at that income level will often be under water, with a negative net worth. In many cases, that means turning to usurious predatory lenders to stay afloat—an added expense of being poor.

a.) do you believe the disparity is this pronounced?

b.) if yes, how can the gap be lessened/what is the cause?

 

[uncommon]

a.) do you believe the disparity is this pronounced?

Pre industrial era? pilgrim style differences? No.

Fortunes can be made and lost within a generation

 

[irish_thug]

My net worth better be growing faster than that or I'm gonna be pissed.

 

[RerouteToRemain]

Well the average family per race is quite a bit different. African American families (from a quick Google search) are roughly 70% single parent household. Whites also have a lower birth rate. Average white first time mothers age is three years older than blacks. Is any of that taken into account. Study is comparing very different average household/family unit.

I think it also has more to do with the area you live in. Some places have very little opportunity regardless of race.

Blacks(or whatever race) with a strong family unit in a nice area likely (I'm not sure, feel free to correct me) have similar wealth growth/opportunities.

 

[Deleted member 196663]

according to the nation, filial wealth-sharing, the generation to generation dist. of previous holdings, has been pointed to as being one of the main culprit in the economic disparity between black and white families. more below:



the author adds that,


a.) do you believe the disparity is this pronounced?

b.) if yes, how can the gap be lessened/what is the cause?

That article is incomplete because it totally ignores the limiting factors of the group itself as a cause for it's current rate of wealth growth. If you are truly concerned about these types of issues, you have to include the problems within "Black American culture" first.

 

[Thunderflash500]

The problem is culture, dependence on the state, and learned helplessness. The left keeps feeding them a lie that they are weak and crippled. That without the white man they are just completely helpless. That they need our money, they need our guidance, and without it they will never succeed. And the right isn't helping either by aggressively locking them up for victimless crimes.

The problem is complicated enough I don't think it can ever be fixed because the powers that fight against real change are too powerful. The leftist media would never allow it. There is a slight chance the free market will fix it, but that's a long shot. Or possibly by a real Martin Luther King figure, but the left would call a man like that a racist and bigot. Even if we gave them free schooling, medicine, food, housing, it wouldn't help. You can't have a people so fractured that 70% are raised by single moms. It will never improve.

The best thing we could do is legalize drugs, demand results with schooling or fire the staff(only fire staff if you're allowed to kick out students as well, can't half ass it). Copy the charter school model of strict discipline and dress code. Kick out kids who are violent. Mandate school uniforms to combat excess materialism found in poor areas. Build the culture back from the ground up. Push hard skilled trades and stem fields. Along with higher education push the building of strong community on the local level.

But real changes like that won't happen. Instead the Soros funded blm will cry about reparations and getting even with whites (a large percentage came over from Europe after slavery ended anyway).

 

[Stoic1]

I think the average black family needs to fix their values before they can fix their finances.

 

[El anciano]

This is why reparations are a very real neccessity. We cannot continue to allow white people to leave minorities behind. There must be some sort of justice.

 

[Prime Ang]

 

[Strange Shadows]

 

[lifelessheap]

Can I sue white people for being born poor?

Obama's daughters have never spent a day in a trailer park....................... fuck all this. I know being poor.


I've seen starving white people... fuck all of this.

 

[KBE6EKCTAH_CCP]

Just a thought, but correlation doesn't mean causality ?

Maybe if whites or blues lived like blacks, they would be as fucked up ?

 

[TheFirstEMP]

I'll never make as much as Lebron. So fuck that.

 

[CableandThanos]

That article is incomplete because it totally ignores the limiting factors of the group itself as a cause for it's current rate of wealth growth. If you are truly concerned about these types of issues, you have to include the problems within "Black American culture" first.

You done gone and done it now, watch as everyone comes in and says there is no such things as Black American culture.

 

[BruceLeeOnTRT]

Millions of immigrants of all colors come to USA, start with nothing, and work towards a better life. Not only that, but some of them start with a major disadvantage in communication, and have to learn a language while providing for their families.

If they can do it, anyone can.

 

[CableandThanos]

The problem is culture, dependence on the state, and learned helplessness. The left keeps feeding them a lie that they are weak and crippled. That without the white man they are just completely helpless. That they need our money, they need our guidance, and without it they will never succeed. And the right isn't helping either by aggressively locking them up for victimless crimes.

The problem is complicated enough I don't think it can ever be fixed because the powers that fight against real change are too powerful. The leftist media would never allow it. There is a slight chance the free market will fix it, but that's a long shot. Or possibly by a real Martin Luther King figure, but the left would call a man like that a racist and bigot. Even if we gave them free schooling, medicine, food, housing, it wouldn't help. You can't have a people so fractured that 70% are raised by single moms. It will never improve.

The best thing we could do is legalize drugs, get rid of school unions in run down areas, demand results with schooling or fire the staff. Copy the charter school model of strict discipline and dress code. Kick out kids who are violent. Mandate school uniforms to combat excess materialism found in poor areas. Build the culture back from the ground up. Push hard skilled trades and stem fields. Along with higher education push the building of strong community on the local level.

But real changes like that won't happen. Instead the Soros funded blm will cry about reparation and getting even.

That has always ben what I said as well.

People want to find the fix, well hat if there is no fix? What do w do then?

How do you change culture? How do you get that ball rolling? Since its not illegal to be a bad parent, ot lazy one, how d you fix that?

HOW DO YOU SPARK THE CHANGE THAT NEEDS TO BE MADE?

I was listening to a guy namedTommy Sotomeyor. He was talking about back women and culture and What's "hot" in society. He said you will see plenty of women who have their ass shoved out in their photos and facebook profiles. He said you know what you dont see. Black women holding up their degrees from colege.

If all of a suden it became the "it" thing to do, more people would attempt to do to it.

But again, How to you change a culture thats 30 years ingrained now?

 

[Big_Chief_Stove]

according to the nation, filial wealth-sharing, the generation to generation dist. of previous holdings, has been pointed to as being one of the main culprit in the economic disparity between black and white families. more below:



the author adds that,


a.) do you believe the disparity is this pronounced?

b.) if yes, how can the gap be lessened/what is the cause?

how many years for Asians to surpass whites?

 

[kickboxjh]

Sounds like rubbish to me.

 

[Bloodworth]

Not even close....is it white people problem that back culture has poor family values which is a root in the cause of all this.

Cultures are very different, some are harder workers and smarter then others. That is why you see their accomplishments as a country.
Some have shown little positve change in the last 100 years.

Like the refugees in Germany, they are offered a job. Refuse to work
They are provided food and shelter and still show zero respect for their host nation .
They want to do what ever they want.

This will force good people to eliminate the do nothings of the world

 

[kickboxjh]

Sounds like rubbish to me.

But theoretically if it is true, then:

Equal opportunity exists, so these problems are down to the individual, or black people's own culture to fix from within.

Nobody can or should be looking to solve these problems but themselves, it'll do more harm than good.