Rob Varnon, Connecticut Post, Sept. 21, 2009
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The Washington-based Corporation for Enterprise Development and its local partner in the study, Connecticut Voices for Children, released the Connecticut Family Assets Report Card Monday. According to a review of net worth by race, using 2006 and 2004 U.S. Commerce statistics, Connecticut had the second highest rate of racial disparity in the nation. The median net worth of a white-headed household was $195,771, while minority-headed households was $3,000.
According to the report, the largest gap nationally was in New York, where the median net worth for a white family was $108,218, compared to $855 for a minority family. The study only contained data on 33 states.
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The study takes into account savings, home equity, business ownership and other investments and income. It also rates the states on access to health care, educational attainment and other factors upon which household wealth can be built. Connecticut received an overall grade of B.
One of the study’s authors, Joachim Hero, a CVC research associate, said he doesn’t have information on why minorities are faring so badly in the state, whether racism is playing a part or if there are factors other than skin color or heritage. “It’s hard to say whether the reason is tied to race specifically or low income,” he said.
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“We would expect it will be much worse in ‘08 or ‘09” because, Hero said, urban areas with high minority populations have been hit hard by foreclosures and high unemployment.
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Original article
(Posted on September 22, 2009)
Comments
Are people like Joachim Hero really this stupid? Does he actually believe that racism plays a part in these low income minority families? What planet has he been living on the last few decades? Surely he knows how far Uncle Sam has gone to try to better these people and give them opportunities we white people have to earn the hard way.
Climb down out of the clouds Mr. Hero, and take a long look around you. And DO try to be honest about what you see if ever you take off those rose colored glasses.
It’s not hard for me to say. Whites have better spending and saving discipline than blacks and Hispanics (in NYC, “Hispanic” means Afro- or mulatto-Caribbean). Almost every black who saves two nickels to rub together all of a sudden has relatives he never knew existed banging down his door wanting to take them away for bail, “bus fare,” i.e. liquor, “food,” i.e. liquor.
We can easily beat the insane Left with their own laughable argument here:
Unless, of course, the blacks couldn’t survive without whites to leech off…
So white people who simply want non-involvement with other races - i.e. to simply live with their own kind, are “racists”? That’s like calling a woman who refuses a man’s sexual advances a “sexist.”
“Average household net worth in New York: whites, $108,218; non-whites, $855.”
STATISTICS DO NOT LIE, BUT LIARS USE STATISTICS.
It’s only fair.
from the article: “It’s hard to say whether the reason is tied to race specifically or low income,” he said.
Maybe the next study can explore the linkage between low IQ and low income so we can finally neutralize the blame whitey racist propaganda that people like Tim Wise make a living promoting.
Hero knows perfectly well what’s going on here. The very fact that he’s quoted as saying “It’s hard to say…” rather than screaming “Racism!” from the git-go proves he knows the truth but cannot bring himself to honestly articulate it.
Joachim Hero, a CVC research associate, said he doesn’t have information on why minorities are faring so badly in the state, whether racism is playing a part or if there are factors other than skin color or heritage…
Well, I’m no “research associate” like Mr. Hero, and didn’t do too well in my stat class, but perhaps doing a basic regression matrix with some other factors — education, for one — might help? A one-variable study is worthless.
And hey, here’s a little additional free research help. We don’t know what the median incomes of blacks/minorities and whites are in CT, but nationally, it’s $35,000 vs. $65,000. Assuming it’s a similar ratio in CT, then blacks make 64 percent of the income, but have only 1.5 percent of the wealth. Wow!
I don’t know how Mr. Hero would interpret that fact, but to me it looks like blacks are simply spending it as fast as it comes in, while whites manage to save up, or invest. Or is it racism that makes blacks blow money on chrome rims, designer sneakers and other “bling”?
And this stupidity: “We would expect it will be much worse in ‘08 or ‘09” because, Hero said, urban areas with high minority populations have been hit hard by foreclosures and high unemployment.
When you ain’t got nothing, you got nothing to lose, right? There’s not too far to fall from $3,000 to $0. The gap must have narrowed considerably in absolute terms, not become “much worse.” This isn’t rocket science.
From what I know of NYC ( I am an outsider ), if you are white, you better have a lot of money before you decide to live there. White natives of the city have told me that there are nice areas of Queens and Brooklyn that are cheap. I have been through some of these “nice” areas, and to me they still seem too diverse for me. But then again I am a southerner and big cities scare me to death. The only way I would live there is if I had lots of money and I was able to live on Staten Island or in Mannhattan. If you are a native New Yorker please feel free to indoctrinate me on this…I am quite ignorant of this topic.
Unless one is born into a wealthy family, or a family of politicians, the greatest determinate factor of relative financial worth is behavior. The writer illustrates differences of net worth between White and “minority” families. Presumably, the writer is using the term “minority” to indicate “Blacks”.
The writer does not indicate whether or not he believes this disparity to be a bad circumstance or not. If he believes it to be a detrimental factor in need of improvement, he offers no examples of how “Black” society can change its behavior in order to achieve Government mandated “equality”.
I hope the writer is not just another disingenuous White elitist media writer who is making sport of “Blacks” because they presumably exist on a relatively lower financial status than he.
Ronald
Could this be evidence that Herrnstein and Murray in their book The Bell Curve are right about intelligence contributing to greater success?
Maybe, just maybe if a large percent of “minority head of households” weren’t in prison, there would be less of a gap.
The blacks I work with, who make 40K a year less than me, drive new Mercedes-Benzs while i drive a late 90s Ford. Could lack of priorities be a clue in the net worth mystery?
Even a net worth of 100,000 of today’s dollarettes is hardly what I would call wealth (it will pay for about 3 years of retirement or about 3 years of college tuition, room, and board). But watch the liberals use this data as an excuse to steal from white savers and give it to black wastrels.
It is probably those racist grocery stores charging the minorities 10 times more for food products, again!!!!
Some of these statistics are wholly unbelievable. Somewhat lesser average income cannot account for a family accumulating virtually no net worth over a period of years. Spend everything you earn today and let the government take care of you tomorrow. Is this a culture I can’t understand or are they really that slow of thought?
This paper may help Mr Hero understand the gap.
http://personal.lse.ac.uk/Kanazawa/pdfs/MDE2005.pdf
How can any group be so ignorant as to not save $100,000? A husband and wife that save a mere 9 dollars per day each, will have saved $98,550 in 15 years. Add the 28,000 in interest (at 4%) and you’ve $126,500. It’s not rocket science.
Here in Detroit, the blacks all have money for fast food, cigarettes, lottery tickets and gasoline.
To get welfare and food stamps you cannot own anything in your name. So people put things in other people’s names. I’ve seen people living in gov’t housing with an Escalade in the driveway.
this is to Courtney:
Courtney wrote at 8:34 PM on September 22:
I lived in NYC after college for 6 years late 80s/90s and have got back to visit, hang out.
Your view has some merit, but only if you try to live the life of a 48 state American, desiring your own home/castle, garage or just safe place to keep a car.
Most White New Yorkers choose to live lives like students/artists, share home space or live in work/artist space. The very interesting city is the place you spend your time and money and lots of things are free. You don’t try to make a home/castle and sadly not raise a White family - to do that you have to commute huge distances to suburbs other states and then, well, just move.
I feel very safe now in most parts of NYC - the subways are clean, air conditioned and used at all hours by White folks - the NYC subway car doesn’t look like a scene from Death Wish or the Warriors.
The clean up of NYC and 90% reduction of violent crime in NYC from the Dinkin years is a great example to all Whites everywhere looking to take back places taken over by NW crime, corrupt NW politicians like Dinkins, Marion Barry, Coleman Young etc.
The NYC clean up was done so many, many ways - bringing in White artists, students, White gays and finding ways to clear out NW populations, make life less desirable for them - that was what was done.
My last trip to NYC was last month for the US Open tennis. Everyone there remembers or was told about the bad Dinkins years, no one wants these bad times back.
Moral is to finesse the race issue, presented the right way most everyone will go against turning the city over to the worst Blacks, NWs.
From what I know of NYC ( I am an outsider ), if you are white, you better have a lot of money before you decide to live there. White natives of the city have told me that there are nice areas of Queens and Brooklyn that are cheap. I have been through some of these “nice” areas, and to me they still seem too diverse for me. But then again I am a southerner and big cities scare me to death. The only way I would live there is if I had lots of money and I was able to live on Staten Island or in Mannhattan. If you are a native New Yorker please feel free to indoctrinate me on this…I am quite ignorant of this topic.
_____________
You are right. I am a native and the only places that are livable to me are certain parts of Manhattan which are largely WASPY and old money, such as the Upper East Side. Other parts are filled with the nouveau-riche types that can be any variety of mystery meats and are more concerned with acting degenerately and concurrently anti-White than with acting in accordance with their family. Staten Island is very White and probably the closest thing to a pro-White community in the entire city, although the accents are very strong and many of the young Italians are sort of…. lost.
I grew up in Staten Island. I can tell you that during my younger years, Staten Island was a great place to grow up. A very homogenous, Italian-American population… Mostly white schools, no busing, no section 8 housing etc. The government has done a lot since my childhood to ruin that.
Another thing that distinguishes Staten Island from the rest of the city is accessibility. It is only accessible to the rest of NYC by the Verrazano bridge, a toll which currently stands at a whopping $11. It used to be effective at keeping the minorities out.
Now that I have grown and left Staten Island, I live in a very secluded area of Manhattan: battery park city. The rents/fees are exorbitantly high—so high, that the profits of which go to support up to $300million in “affordable housing” around other parts of the city. Sadly, I think of this as worth the price for the peace of mind I get from having the minorities live elsewhere. This neighborhood is separate from the subways and main streets. It is composed mostly of Asian and White professionals, and families. My spouse and I both feel that it is the only acceptable area to live in Manhattan.
I have long wondered where the supporting data is for our myriad of government welfare and wealth transfer programs. To wit, what do people spend their money on? Immediate gratification items, socially satisfying bling while ignoring savings, frugality of home cooked meals, and health care expenses?
I live in Staten Island and while it’s better than the rest of NYC it has become too crowded. I’m half Italian but alot of people here behave like fake mobsters and the teens try to be black. It’s a mixed bag. I’m not a big fan of NYC in general.
Had a student last year—Mamma worked for a doctor, daughter was “eligible” for and eating a taxpayer-funded free lunch every day. She was getting dropped off and picked up from school by mom driving a new Lexus. Workin’ the system, bay-bee.
