Is It Time To Wake Up Yet?

This sums up everything I’ve been saying for the past few years. This is from 2009!  I know it’s only worst know that it was. Maybe the chart can put everything in prospective.

2011-wealth-gaps-24

Other notes from this study:

Blacks: The net worth of black households fell from $12,124 in 2005 to $5,677 in 2009, a decline of 53%. Like Hispanics, black households drew a large share (59%) of their net worth from home equity in 2005. Thus, the housing downturn had a strong impact on their net worth. Blacks also took on more unsecured debt during the economic downturn, with the median level rising by 27%.

No Assets: About a quarter of all Hispanic (24%) and black (24%) households in 2009 had no assets other than a vehicle, compared with just 6% of white households.

Black People is it time to wake up yet?

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About The Reemachronicles

This blog is about the great NY dating scene. My focus will be on improving your overall greatness, the online dating game, some fashion tips and just other random thoughts helping guys get better with women. I will even give you updates on the current women in my life. Get on for the crazy ride that is my life.
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5 Responses to Is It Time To Wake Up Yet?

  1. Did you know that it is harder for blacks to get loans? That during the housing boom most of the mortgages that black people were given were sub prime even when compared to whites that had the same lending qualifications. I am not saying that we don’t have things to work on; I am simply sating that we are still a part of a very shady system.

    • Up until the 60s it was legal to deny Blacks housing and home loans. I get that. That created a wealth gape. The point of this chart is to show that Black people are moving backwards. The wealth gap shouldn’t be getting worse. The median net worth of a Black family is less than $6,000. Do you see how fucking sad that is? Black people spend billions of dollars a year. BILLIONS! Why is our net worth only 6k? It’s not because we’re broke. Other groups of people GET RICH strictly off Black people. For Black people, spending all their money with the dominant society is what makes them feel accepted. As far as subprime loans, I work in finance. I work with mortgage loans everyday. No one can force you to sign loan documents. If you choose to take out a mortgage that you know you can’t afford or don’t understand what your signing, that’s your fault. You can blame bankers for greed but you also have to blame the homeowner for the same thing. The only way to fight the system is to become independent from that system. I’m done with the excuses. Black people need to wake up. It’s time for group economics. Nothing is stopping Black people from pulling their money together and working with other Black people. I give home loans to Black families all the time. Nothing is stopping a Black family from walking into my office and buying a home.

      • bossymoksie says:

        I don’t think Blacks will want to be independent and take on responsibility partly because, like you said, they want to be accepted in THIS system.

        • Also, a lot of people are just scared to challenge the system. Most people are so dependent on the system that they’re scared to speak up. If you’re the only Black person at your job what can you say? You don’t want to get fired and it’s not like you can go to a equal black company and get a job. Black people are not politically smart. Until we understand racial politics, it’s going to be tough to change it. I understand that part of it but if you’re not doing anything to make changes, you really can’t complain. This is why I wanted to work for myself. This is why I support black owned businesses and support grass root projects. Also, right now more jails are being built than schools. In Detroit, 79 schools have closed in the past 3 years. Where do you think most of those kids are going

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