Where Is the Economic Aid for Black America?
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Algernon Austin, The Daily Voice, October 7, 2008
{snip}
On many measures, it is clear that blacks are being hit the hardest by the declining American economy. The Joint Center for Political and Economic Studies had already informed us that blacks and Hispanics were about twice as likely as whites to receive a subprime loan. This would lead one to think that blacks would have about twice the foreclosure rate as whites. If that were true, that would be bad enough. But a new report (PDF) by AARP finds that blacks and Hispanics have foreclosure rates about three times that of whites.
{snip}
Since 2000, the white family poverty rate is up 0.5 percentage points. The black family poverty rate has risen 2.8 percentage points. For white children, the poverty rate is up 1.0 percentage point; for black children, 3.3 points. The most startling rise is for black families headed by an unmarried male—yes, male. These families have experienced an increase in their poverty rate of 9.4 percentage points. White single males heading a family have only seen a 1.1 percentage point increase in their poverty rate. Americans of all races are hurting, but the level of economic pain is above average in many black communities.
{snip}
Now that the Wall Street bailout has passed, the issue for blacks to be especially concerned about is that fiscal conservatives from both political parties will use the immediate cost of the bailout as a justification to cut programs that directly benefit average Americans. The argument will be that we cannot afford program X or spending Y because we are $700 billion dollars deeper in debt. This argument is not acceptable.
We still need to effectively address the foreclosure crisis, and we still need economic stimulus policies that will help pull the country out of the current economic recession. Economic growth is ultimately necessary for the country to regain financial stability. Economic growth that reaches black communities is desperately needed.
For a very long time black communities have needed investments, job creation and economic development. The government finds money for bridges to nowhere, missile defense shields of dubious effectiveness, ill-advised wars, Wall Street bailouts and everything else deemed too important to fail. When will our leaders decide that black communities are too important to fail economically?
  Algernon Austin. |
(Posted on October 9, 2008)
Comments
I believe this article was first written in 1880 and has been simply recycled ever since.
First they complained that they were denied legitimate mortgages because of low income, unstable jobs or bad credit.
So the federal government ordered banks to give them affirmative action mortgages or face draconian fines and lawsuits by the justice department.
Now they complain that the government ordered the banks to give them affirmative action mortgages that they can’t pay.
Does this great intellectual grasp the fact that a person or married couple earning $30,000 per year simply cannot be expected to pay a $2,000 mortgage payment plus property insurance and property taxes every month???????? That the mortgage and other required payments add up to more than the couple or person earns in a year???????
Posted by margaret at 5:33 PM on October 9
And here I thought that blacks were trying to deny the fact that the current economic crisis was based on the disproportionate amount of black and hispanic foreclosures.
Posted by at 5:34 PM on October 9
On many measures, it is clear that blacks are being hit the hardest by the declining American economy. The Joint Center for Political and Economic Studies had already informed us that blacks and Hispanics were about twice as likely as whites to receive a subprime loan. This would lead one to think that blacks would have about twice the foreclosure rate as whites. If that were true, that would be bad enough. But a new report (PDF) by AARP finds that blacks and Hispanics have foreclosure rates about three times that of whites.
Maybe cause the white borrowers went out and got a second or third job and figured out how to pay the mortgage, so they could keep their home.
Posted by gemalo at 5:43 PM on October 9
“Give us more of your money cries black pundit”.
Can’t do it son. We Americans have to try and save the few centavos we still have after paying for failing schools, social programs, and the medical care of foreign nationals and just plain lazy bums of all stripes. Times are tough.
Posted by Bobby at 5:57 PM on October 9
$8 trillion in black-oriented social welfare spending since the Great Society. Perhaps as much as one-fourth of the Federal budget each year has to do with direct or indirect social welfare, largely black. Believe me, they’ve had their “bailout.” Plus most of the “financial markets rescue” was rooted in the failure of affirmative action mortgages.
Posted by Question Diversity at 6:00 PM on October 9
“For a very long time black communities have needed investments, job creation and economic development.”
Translation: we want more handouts, gimme gimme gimme.
Your people get hired only to have a high percentage of them not show up on time or at all; cop ” ‘tude” to the boss, and have low production levels.
When something goes wrong, you burn down your neighborhoods, taking those jobs a d investments down in flames.
Would YOU rebuild after such an event? Would you risk going there in the first place?
Please.
Posted by the friendly grizzly at 6:38 PM on October 9
This article highlights the problem America faces. We have too many poor mouths to feed. The neocons flooded the country (starting with the Bracero Act) with poor immigrants to undercut American workers and the Democrats made them citizens for their votes. Now we are oversaturated with poor mouths and no money. Guess what happens next?
Posted by Unemployed WASP at 6:39 PM on October 9
Government does not “invest”, it spends taxpayers’ money. And this government has been spending money on blacks for at least forty years. Businesses invest; and what business wants to invest in a community with people who don’t pay their debts, who steal and who tear down their own communities and do not offer a good workforce? People who invest do so expecting to earn a return on their investment. What do these communities have to offer investors?
Posted by paleface at 6:53 PM on October 9
Can you believe this character? After all the tens of billions of dollars the federal government has spent trying to help feckless blacks over lo these many years, he trots out the same old tired cliches about how “nobody” wants to help blacks, and how some legislators might — can you believe it? — suggest that the government cannot any longer afford the level of “help” we’ve been handing out to them. “Bridge to Nowhere?” How about, “Welfare Line to Nowhere?”
Posted by Wayne Engle at 7:05 PM on October 9
Black people are a drain on this country. Even though we abolished slavery, we’re still stuck with this ball and
chain. Can’t we get a divorce?
No other race is this much of a problem for the U.S. Even if we
had policies to help more lower IQ people to work, the vast
majority of those jobs would be taken by lower IQ whites and
hispanics. It isn’t just low IQ that dooms blacks, but the fact
that on average they can’t control themselves, and work steadily.
What the heck can we do? The only moral solution is to remove
all affirmative action and let nature sort it out. If only
higher IQ blacks with better impulse control survive, then
in the future blacks would be a better race.
Posted by at 7:51 PM on October 9
The bottom line to everything about blacks is that they will never be able to compete economically in an advanced society, and because of it they will be forever demanding freebies of one sort or another, always carefully throwing in a charge or two of being treated unjustly so they won’t have to admit they’re incompetent.
They’ve been quite successful in getting their squeaky wheels oiled by both the government and private enterprise, but the satisfying thing about the current economic plummet is that most private businesses aren’t going to be able to pay AA hires for doing sub-standard work and will have to cut the pork from their budgets.
And that, of course, means there will be fewer incompetents putting forth their nonsense in news stories, because newspapers will feel the pinch probably more so than any other enterprise.
Posted by q at 7:52 PM on October 9
Isn’t this the reason we are in this situation, because of all the “economic aid” handed out in the form of home loans to people, mainly minorities, who couldn’t afford the homes this “economic aid” put them in? So, in other words, this knucklehead wants us to keep throwing good money after bad money? Make no mistake people, these bad “loans” were a “reparation” and people like this guy want it to continue.
Posted by RHG at 9:19 PM on October 9
These people are the cause of the biggest financial meltdown in the history of this country and they’ve got the audacity to bring up economic aid? We’ve spent trillions on them over the past 60 years and what do we have to show for it? We are artificially propping up a black middle and upper class that is not self sustaining. Hundreds of thousands of worthless government jobs created at taxpayer expense to keep them employed with good salaries. We’re in an economic crisis that will probably take years to come out of, if ever. Our economy will be downsized, our GDP reduced and we’ll probably be relegated to 3rd or 4th place among the world’s largest economies with the EU and China ahead of us. Every government agency across the board will have to be slashed from defense spending to entitlement programs. You will be cut loose and the chips will fall where they may!!!!!!
Posted by at 9:41 PM on October 9
“Since 2000, the white family poverty rate is up 0.5 percentage points. The black family poverty rate has risen 2.8 percentage points. For white children, the poverty rate is up 1.0 percentage point; for black children, 3.3 points. The most startling rise is for black families headed by an unmarried male—yes, male. These families have experienced an increase in their poverty rate of 9.4 percentage points. White single males heading a family have only seen a 1.1 percentage point increase in their poverty rate.”
What these stats fail to take into account is that whites and blacks have differing lifestyles. For one thing, blacks drop out of high school at higher rates than whites and blacks are more likely to have a criminal record. High school dropouts make less on average because they are less educated and qualified for higher paying jobs and those with criminal records on average make less because certain jobs won’t hire them. Whose fault is that? Secondly, blacks on average have more children than whites and have them on average at a younger age when they have less money. Black families are also more likely to be single parent. So that is why on average their is a gap between black and white earnings. Of course nobody brings these factors up, it can only be one thing, evil white racism!!!
Posted by at 10:55 PM on October 9
“”Now we are oversaturated with poor mouths and no money. Guess what happens next?”“
Yep it’s coming and very very soon. The US is about implode.
Posted by at 11:40 PM on October 9
Just think, in 35 years we will have an 20 million more of them than there are today! We’re going down the tubes fast plus an extra 100 million hispanics on the way. Does anyone stop to think about how high those dependency rates are now compared to what they will be? The tax base (Whites) won’t grow much at all due to a stable White population but the dependency rate will explode. Those high dropout rates and low standards in public education spell doom for us in a competitive world economy. America is already starting to fade as a leader in science and physics. Where are all the new jobs to boost the people that will be working into the middle class going to come from? America’s future is going to be dismal unless we separate ourselves from these people and reconstitute America from a piece of whats left.
Posted by at 12:01 AM on October 10
The bottom line to everything about blacks is that they will never be able to compete economically in an advanced society, and because of it__________
I would fill in the blank somewhat differently,”because of it….blacks will eventually become just as successful as whites for they will transform a once advanced society into just another third world slum(with some help from our “leaders” and 30 plus poor, uneducated hispanics, that is). When the highest principle is “equality”, the lowest common denominator (blacks in this case) determine the standards.
Posted by at 12:09 AM on October 10
As the Treasury continues to be plundered and currency devalued, at some point the welfare, WIC and State checks will begin to bounce and the only thing keeping blacks from starvation are their muscle and criminal minds…
I never thought this would happen, but what I have realized is that we have self-inflicted the curse of anti-Darwinism in our society. This means that in 1876 or 1950, other than some religious charity and small state aid, if you failed, you were out and you moved in with friends or relatives, or just became a bum or hobo and died prematurely.
What the Great Society did was remove the work ethic from the lower classes of all races and make innate self-respect, instinct and pride vanish because of the lack of necessity to survive.
Posted by Maitre'D at 1:13 AM on October 10
Anyone hire blacks? I did once. A kid came up to the worksite
and asked for a job..begged is more like it. I set him to work
as a masons helper. The story came out that he had just been released from Lorton Penetentiary here in DC area. The first week he showed up. The second week he showed up in dress clothes that he wore the night before. The third week he was dressed in full
Super Fly outfit..white full length coat, turqouise sunglasses etc. And with the clothes change came an attitude change. He
was angry at being exploited and began demanding an advance on his pay check. This got to be a real pain. I wanted to fire him but he had a real knack at putting in just enough effort to get by. About the 5th week the deteriorating situation was resolved.
He was found floating in the Tidal Basin off the Jefferson monument. After 5 years in jail he had gotten back into drug dealing in only 3 weeks of freedom. But it seems the old neighborhood had changed and his presence wasnt wanted. And so he went for a little ride with old friends…that ended with
a bullet and a shove into the water.
Posted by at 2:49 AM on October 10
The Joint Center for Political and Economic Studies had already informed us that blacks and Hispanics were about twice as likely as whites to receive a subprime loan.
People just “receive” loans, you see, at the whimsy of the loan officer who, woulnd’t you know it, is often a wicked white racists who hands out the good loans to whites and reserves those evil subrime loans for blacks and spanics.
Posted by Michael T at 5:30 AM on October 10
Where is economic aid for Black Americans?…. Where the hell is economic aid for White Americans?????.
Black Americans have been getting economic aid for the past 150 years. And has been recieveing extra economic and racial racist law aid for 50 years. You recieved your economic aid, help, and spoils. Whites do not need to bail out the very people who caused the current Crisis.
Posted by thoughts of another era at 5:44 AM on October 10
How much more do you want? are the billions of dollars in taxpayers money given away to not-for-profit entities that create program after program for the poor and disadvantaged in the black community not enough…this man needs to wake up and smell reality….(sic)
Posted by at 7:46 AM on October 10
Question: So why aren’t there more blacks railing against illegal immigration?
Answer: Because it is much easier to blame Whitey. With Whitey, the money can be had without having the hassle of going to work.
Posted by SG at 9:32 AM on October 10
“As the Treasury continues to be plundered and currency devalued, at some point the welfare, WIC and State checks will begin to bounce”
It’s already happening in California. But it is not the fault of blacks. It is the fault of cannibal capitalist employers bringing in illegals, paying them low wages and then dumping the cost of their housing, food, childcare, medical care, language lessons and just about everything but transportation onto the tax payers.
And it is not just the fault of the poor hispanic workers.
There are plenty of Asian and Middle Eastern business and professional very wealthy people who bring over their elderly relatives who after a couple years are entitled to Social Security payments, medicare, low cost housing, and other American government programs for the elderly.
Many of these elders have birth certificates that say they are 65 years old, but they are actually in their early 50’s. And they work full time in the family business. But since they don’t use paychecks, they are classified as not having any income and thus eligible for all the retirement goodies.
And of course if any government agency dares to investigate there are immediate cries of racism and the the investigation ends. By the way, the best selling book in Cantonese and Mandarin is titled “How to get on SSI disability in America.”
And because mass immigration and affirmative action make it extremely difficult for native born Americans to find employment coupled with the downward pressure on wages caused by immigrants,the tax paying middle class has moved out of California.
It is difficult to tax the rich because most of them are not salaried employees but independent professionals or business owners who take full advantage of every possible tax break. The income taxes from people who earn less than $30,000 per year is negligible and if they have children they pay no income tax.
And with the downward pressure on wages more and more workers are in the less than $25,000 per year category.
Even the totally anti white anti American Los Angeles Times has run articles about the fact that at any one time about 35 percent of the residents of Los Angeles county are on welfare.
That is straight welfare. It doesn’t count people on disability, unemployment, social security, and working people who earn such low wages they are entitled to section 8 housing, food stamps and free medical care for their children. Add all of these to the straight welfare receipients and probably about 60 percent of the population of Los Angeles county is dependent on some of government support.
Incidentally, the Los Angeles Times recently reported that Los Angeles is now classified as having the worst quality of life of any American city.
And only 45 years ago it was considered the best big city to live in. And in 1960 it had the highest ranked school system of any big city in America. But that was before neo-con lawyers filed the school busing lawsuits.
Posted by margaret at 12:07 PM on October 10
Here we go again. Blacks always want OTHERS[mainly us evil racisss White folks] to invest in THEIR communities. And when we do, we’re greeted with hostility and accused of “exploiting the black community.” Why can’t THEY invest in their communities? From what I see on t.v., blacks are all great inventers and problem solvers and there are countless blacks in this country that have sizable bank accounts, so what’s stopping them? How many jobs has Al $harpton, Je$$ie Jack$son or Maxine Walter$ created for their communities, and they’ve been around for a long time!
Posted by Tom S at 12:36 PM on October 10
Blacks were only supposed to used be as slaves for the rich white man in the beginning. For a couple hundred yrs this was the case. Since Lincoln liberated them they have become a menace to society and now want to own and lead white western civilization. This is complete insanity.
This whole slave thing has backfired. This was no supposed to occur although we do have to wonder what the rich white man slave owner had in mind for a long term vision on slavery. Did he think slaves would still be in effect in 20th or 21th century?Why did he not give us his vision on the future of slavery?
These slaveowners were obviously not very bright at all. Who would have wanted blacks living in the same house anyway even as servent slaves?
What a mess.
Posted by at 1:12 PM on October 10
Around 1795, Eli Whitney invented the cotton gin, designed to improve cotton gathering in the Southern states.
My question is, why were black slaves necessary until 1863, to pick cotton? Why didn’t the cotton gin supplant black slaves, so that their importation was no longer needed?
Anyone who can help me out on this, please do so. Thanks.
Posted by Soprano Fan at 2:51 PM on October 10
I researched the cotton gin on Wikpedia, and it says that one of the unfortunate byproducts was an INCREASE IN SLAVERY, as more slaves were imported to pick cotton.
Posted by Soprano Fan at 2:55 PM on October 10
Blacks want “investments” in their community, in their people? Let’s look at this more closely. Like at hundreds of thousands of unqualified or unfit Blacks hired in the aftemath of 1965’s civil rights laws. Effectively the majority of those hired getting what amounted to a free ride, by their employers.
Affirmative action… where UNQUALIFIED Blacks get first crack at college admissions, even at employment opportunities while better qualified Whites are passed over.
Like nearly a century of welfare checks and subsidies handed out to Blacks too lazy or too dull-minded to hold even menial labor jobs. Hey, we could go on but you get the idea by now.
Speaking of businesses placed in predominantly Black urban areas… becoming prime targets for crimes not limited to but including armed robbery, pilferage, thefts, shoplifting, etc., etc., etc.
I can recall several cases in Houston where Orientals opened convenience stores in Black areas. Then were robbed near monthly by Black ‘customers.’ Also remembering the stories of one or two Oriental store owners shooting Black robbers or thieves. Then having the local Blacks picketing and rampaging at what they called a gross miscarriage of justice, an act of racial hatred.
Can anyone recall the looting by Blacks of nearby businesses for the slightest causes? Like during that infamous NYC power blackout a couple of decades ago. The Los Angeles riots over Rodney King. That rioting, either in Indiana or Ohio a few years back, over a perceived racial slight or insult. The complaints by Blacks that supermarket chains refuse to open stores in Black neighborhoods. Now given all those risks just WHY would any rational business chose to open in a Black neighborhood? All verifiable by perusal of newspaper archives, I might add.
Posted by Fed Up at 3:52 PM on October 10
>>>Incidentally, the Los Angeles Times recently reported that Los Angeles is now classified as having the worst quality of life of any American city.
And only 45 years ago it was considered the best big city to live in.
But putting the blame where it is deserved… the horrendous number of illegal and quasi-legal Mexican immigrants, the huge number of Blacks effectively doomed Los Angeles. The costs for supporting and providing for the illegal immigrants primarily being the cause for that emergency $7 billion bailout Schwarzenegger asked the feds to give California.
Posted by Fed Up at 4:50 PM on October 10
This was no supposed to occur although we do have to wonder what the rich white man slave owner had in mind for a long term vision on slavery.
These are the same type of people that are now bringing illegal aliens to our country.
Posted by at 5:26 PM on October 10
to poster at 1:12 PM on 10/10:
The slavery issue did not turn on the question of how “bright” the slave owners were, slave owners such as Jefferson, Washington, et al. By the time of the establishment of the American Republic, chattle slavery had long been an institution and was inheritied by these slave owners, not created by them. The fact, and it is a fact, that there were in both absolute and relative terms, more Southern white slave owners advocating the end of the institution through abolition than Northern “abolitionists” during the years immediately preceeding the 2nd War of American Independence (as Jackson called it quite acurately) proves that the so-called “slavocracy” of the South was far from dim witted. They formed the intellectual aristocracy of the nation at the time and many were deeply troubled by what they perceived as the most significant threat to the South in their time, viz. the problem of what to do with the slave class. They far outnumbered the whites in the South, were generally very poorly educated, an lacked any sense of adult personal responsibility. To simply free them all would have led to their rapid demise, something which the whites of the day would not tolerate because of their sympathy for the slaves. It was precisely the white slave owning class which knew the real character of black slaves, not Northern abolitionists like Brown, and his fellow fanatics.
There were many different proposals for dealing with the problem which the presence of millions of black slaves created, including several schemes for their repatriation to Africa, perhaps the best idea of all and one endorsed by even Lincoln. The historical fact that the North forced the liberation of blacks upon the South with its victory through various constitutional amendments (such as the 13th) and the Freedman’s Beureau after literally burning the South to the ground, created immense problems with the South could no longer solve. It was the inaction of the federal government of the North which allowed the continued presense of blacks in the US after their “liberation”. Thus, the fact that today some 12% of the population of the US is black, is a direct consequence, not of the stupidity of the Southern “slavocracy”, but the consequence of the actions of the federal government of the victorious North, a government which wished nothing but misery upon the defeated South and which insured that blacks were both freed and were encouraged to stay in the US by granting them citizenship.
Posted by at 7:09 PM on October 10
“This whole slave thing has backfired. This was no supposed to occur although we do have to wonder what the rich white man slave owner had in mind for a long term vision on slavery. Did he think slaves would still be in effect in 20th or 21th century?Why did he not give us his vision on the future of slavery?
These slaveowners were obviously not very bright at all. Who would have wanted blacks living in the same house anyway even as servent slaves?
What a mess.” Posted by at 1:12 PM on October 10
I seem to recall reading a quote by Thomas Jefferson about the South and slavery. He said the South “has a wolf by the ear and can’t let go.” If you read diaries and letters of the age before the war, you’ll find that many of the Southern women on the plantations were terrified of their slaves. And let’s not forget that Southerners were very aware of what happened in Haiti when only 40-45 White families escaped the island with their lives.
Southern slave owners weren’t stupid. They didn’t know what to do with them. They were in the same place we’re in now.
One Southern lady at the end of the war when the slaves were freed said, “Free, free! It’s we who are free!”
Unfortunately, she was wrong. We’re still burdened with them.
Posted by at 12:11 AM on October 13
“Thus, the fact that today some 12% of the population of the US is black, is a direct consequence, not of the stupidity of the Southern “slavocracy”, but the consequence of the actions of the federal government of the victorious North, a government which wished nothing but misery upon the defeated South and which insured that blacks were both freed and were encouraged to stay in the US by granting them citizenship.”
Yes, well it came back to bite the North in the you-know-where. Look at all these northern inner cities that are full of blacks.
Posted by at 7:52 AM on October 13
While this piece of garbage is about our Afro-Americans, I can’t resist posting this interesting little link:
http://www.africancrisis.co.za/Article.php?ID=36092&
Follow it and read the highly interesting tale of how modern Congolese are being ruthlessly exploited by their benevolent Chinese masters. I recall a number of Afro-American posters ranting on this site how White Europeans “exploited” the poor Africans and still do. The compare it with Africa’s fate under Chinese rule. China poured BILLIONS into the Dark Continent, but hardly out of benevolence or kindness. They get their money back, many times over, and often in human blood.
I also pointed this truism out many months ago, in response to several stories aired about Africa and Chinese “donations” and their building of “free hospitals, schools and roads.” I can’t wait to see a response from Black readers about Chinese-African relations.
Posted by Fed Up at 9:27 AM on October 13
Where are the ads in these rags for affordable, low-interest real estate in AFRICA? Wouldn’t you be interested if you were an “alienated ‘black’ “american”’? Anyone offended by this commonsense attitude, post away.
Posted by Cousin Charlie from TN at 7:24 AM on October 14