Greatest Racial Wealth Gap in Decades

[SUJagFan]

http://www.huffingtonpost.com/rev-al-sharpton/ethnic-wealth-disparity-_b_910720.html


"The Pew Research Center just released a startling and sobering new study stating that the median wealth of White households is now 20 times that of Black households, and 18 times that of Latino households. The data, gathered from 2005-2009, indicates that a typical Black household had just $5,677 in wealth (assets minus debts), while the average Latino household had $6,325, and the ordinary White household had $113,149. And about one-third of all Black and Latino households had zero or negative net worth in 2009 alone."


How do we feel about this and what should be done about it?

 

[CEE DOG]

It can not be solved over night.

 

[Kendrick]

http://www.huffingtonpost.com/rev-al-sharpton/ethnic-wealth-disparity-_b_910720.html


"The Pew Research Center just released a startling and sobering new study stating that the median wealth of White households is now 20 times that of Black households, and 18 times that of Latino households. The data, gathered from 2005-2009, indicates that a typical Black household had just $5,677 in wealth (assets minus debts), while the average Latino household had $6,325, and the ordinary White household had $113,149. And about one-third of all Black and Latino households had zero or negative net worth in 2009 alone."


How do we feel about this and what should be done about it?

Well, when the system gets manipulated to create these social gaps, stuff like this happens.

 

[SUJagFan]

I do believe some of it is systemic, but I wonder how much of it we're responsible for. I wonder if it's possible for us to do something to lower that gap and what is it. Things we can control.

 

[Kendrick]

I do believe some of it is systemic, but I wonder how much of it we're responsible for. I wonder if it's possible for us to do something to lower that gap and what is it. Things we can control.

Sure it is. Better investment of our money is one thing we can do to turn it around. Secondly, financial education is another thing we can do to be more prosperous or close that gap. The third thing we can do is vote for people (not parties) who will be willing to truly fight for the common man and not the rich.

But most of this is systematic, though. It has to be, considering a small portion of the population controls nearly all the wealth.

 

[nevaehinvesting]

http://www.huffingtonpost.com/rev-al-sharpton/ethnic-wealth-disparity-_b_910720.html


"The Pew Research Center just released a startling and sobering new study stating that the median wealth of White households is now 20 times that of Black households, and 18 times that of Latino households. The data, gathered from 2005-2009, indicates that a typical Black household had just $5,677 in wealth (assets minus debts), while the average Latino household had $6,325, and the ordinary White household had $113,149. And about one-third of all Black and Latino households had zero or negative net worth in 2009 alone."


How do we feel about this and what should be done about it?

Whoa, not good. We gotta buy more assets, less liabilities. Gotta save some vs spending everything. Google 'smart financial decisions'. This is not as hard to solve as some think. Overnight fixes are possible for most.