Wealth Gap Widens Between Whites, Minorities

Hope Yen, The Macomb Daily, July 26, 2011

The wealth gaps between whites and minorities have grown to their widest levels in a quarter-century. The recession and uneven recovery have erased decades of minority gains, leaving whites on average with 20 times the net worth of blacks and 18 times that of Hispanics, according to an analysis of new Census data.

The analysis shows the racial and ethnic impact of the economic meltdown, which ravaged housing values and sent unemployment soaring. It offers the most direct government evidence yet of the disparity between predominantly younger minorities whose main asset is their home and older whites who are more likely to have 401(k) retirement accounts or other stock holdings.

{snip}

The median wealth of white U.S. households in 2009 was $113,149, compared with $6,325 for Hispanics and $5,677 for blacks, according to the analysis released Tuesday by the Pew Research Center. Those ratios, roughly 20 to 1 for blacks and 18 to 1 for Hispanics, far exceed the low mark of 7 to 1 for both groups reached in 1995, when the nation’s economic expansion lifted many low-income groups to the middle class.

The white-black wealth gap is also the widest since the census began tracking such data in 1984, when the ratio was roughly 12 to 1.

“I am afraid that this pushes us back to what the Kerner Commission characterized as ‘two societies, separate and unequal,'” said Roderick Harrison, a former chief of racial statistics at the Census Bureau, referring to the 1960s presidential commission that examined U.S. race relations. “The great difference is that the second society has now become both black and Hispanic.”

{snip}

Other findings:

{snip}

–Asians lost their top ranking to whites in median household wealth, dropping from $168,103 in 2005 to $78,066 in 2009. Like Hispanics, many Asians were concentrated in states like California hit hard by the housing downturn. More recent arrivals of new Asian immigrants, who tend to be poor, also pushed down their median wealth.

{snip}

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  • Anonymous

    Was it normed for how many blacks are in prison or are ex cons who can’t get jobs?

  • Anonymous

    I thought that race is a social construct that doesn’t actually exist in reality. So why an article that separates by race?

  • Jay

    The elephant in the room that NO ONE ever addresses, and that we need to trumpet, is how the lifestyles and culture are different between those who have something and those who have nothing.

    Poor values equals low wealth and it keeps your kids in poverty and with diminished ‘opportunity’ also.

    This rule is color blind.

    There are plenty of trashy white people who do drugs, get drunk and raise Hell all the time. They don’t read much, learn much or have goals on the horizon. Are they deserving of affirmative action or something?

    It would be a waste because they would not sustain the boost due to their poor habits that get passed on every generation. A few of the kids see the light and claw their way out to the middle or upper classes, and this is the American dream and promise: if you work hard and stick to good or mostly good habits, even if you were dealt a bum hand, you can succeed in one way or another.

    Liberals never want to address this issue because it indicts bad habits, and liberals support bad habits as ‘personal choices.’ Premarital sex may seem so innocent, but out-of-wedlock births cost us all. Drug use may seem so cool and ‘hip’ but it costs us all. I could go on and on.

    So if a single black mother has four kids from four different fathers, and she herself had a bad time growing up, it is a bum hand. But no one can say there aren’t role models all around of people who lifted themselves up. (Black people – see Pursuit of Happyness with Will Smith! Latinos – see My Family with James Olmos.)

    Even welfare mothers or crack addicts have risen up. Maya Angelou’s book, “I know why the Caged Bird Sings” is required reading in most schools now. Her story is about her horrible childhood and early twenties, but then she got herself together. Oprah had a hard life early on. And so on.

    If you open your eyes, anyone can increase their net worth. You have to have that moment where you say “Enough!” and you look for ways to change. It’s hard, and most do not succeed as much as they would like. Some fall flat, but the promise of America is that if you reach for something and stay out of trouble you can possibly attain it, and if you screw up, you can have a second, a third chance.

    Black and latino people can look to Asians for inspiration if they want examples. Just leave us white people alone. Don’t we send enough of our sons and daughters as brainwashed liberal do-gooders into your communities to serve you?

  • Chicagoan

    The problem with stories like this, carried by the mainstream media, is that it lumps everyone into one category. The majority of poor people in the US are white, which you wouldn’t know from reading this. The wealthy ones living in exclusive areas don’t generally come into contact with the average white person on a day-to-day basis. Middle class and lower middle class whites have been hit fairly hard and continue to get hit. That there are whites out there doing extremely well financially means nothing to the average white person trying to pay for housing, stay employed, have medical coverage, have access to suitable schooling and live where they can feel safe.

  • Sureesh

    I see my fellow Indian immigrants continuing to do well, despite how they say Blacks have been hardest hit.

    Maybe it’s because we have something called WORK ETHIC?

  • Anonymous

    Wanna bet people of color receive 18 times more government assistance in the form of free housing, vouchers, etc., as a start, than white people do? Don’t expect this to be part of the urgently needed debate on race.

  • Aware One

    It really doesn’t what a person’s assets are. Welfare recipients have a guaranteed income, which should be treated as an asset, just like money in a pension or an annuity for calculating net worth.

    This being true, many of the “poor” would turn out to be quite rich, compared to the rest of us.

    So this story is a falsehood.

  • E Pluribus Pluribus

    Excerpting a letter published in a local paper on the two institutions that have the greatest effect on wealth creation: 1)the family and 2) government, at all levels:

    Broadly speaking there are two models for bringing children into the world: the “responsible model” — high parental investment (from both the father and mother) of time and resources in raising children — and the “irresponsible model” — low parental investment (from the father and mother) of time and resources. Virtually all public policy — federal, state and local — from the civil rights era onward has rewarded irresponsible parenting and punished — via high taxation and other policies — responsible parenting. The result has been a dramatic increase in irresponsible parenting: from 24 percent of out-of-wedlock births for African-American mothers in 1965 to 72 percent in 2008; and from 3.1 percent of out-of-wedlock births for white mothers in 1965 to 29 percent in 2008.

    Government policies that reward irresponsible parenting and punish responsible parenting are not sustainable. If the family is to be restored, governments must shrink. Charities must fill the breach.

  • Anonymous

    “That there are whites out there doing extremely well financially means nothing to the average white person trying to pay for housing, stay employed, have medical coverage, have access to suitable schooling and live where they can feel safe”.

    What a coincidence, the well off financially, who are white, are only concerned about the well-being of people of color, over that of their own family members in most cases, to say nothing of us ‘ignorant’ folk who oppress people of color (as opposed to their own unintended oppression of people of color that the smart person (like them) is aware of.

  • Anonymous

    Seems that affirmative action does not work. Ban White men from college for 40 years. Ban them from government, health care, education non profits and most quasi government jobs for 40 years.

    White men still come out ahead.

  • AmericaFirst

    I’ll add my voice to the chorus. The BIGGEST reason is that people of European ancestry are taught – by example, and by word – to defer gratification from an early age. Work is not fun, but a work ethic is inculcated in us from the time we are 10 or so years old. I speak from personal experience: I had a very large paper route at the age of 12 (125+ customers on Sundays and holidays, 75+ the rest of the time), and paid my way to Scout camp, bought my own bikes, etc. I paid my way through college. (No affirmative action, financial or otherwise, for me or my friends.) I am no different from almost all of my friends and the others I grew up with. Our lower middle-class neighborhood was a “melting pot” of European-Americans: Germans, Italians, Irish and Jews, mostly, with a few WASPS thrown in. No one was handed anything, but all managed to thrive, because of values learned early, and maintained throughout their/our lives. I always saved: my high school educated, immigrants’ son father had me investing in a mutual fund on a monthly basis from the time I was 20 (four decades ago). We were taught to pay our own way, rely on ourselves, and work, work, work! The two societies are separate and unequal due to choice. I am sick of the implication that there is something unfair in the system.

  • Anonymous

    Asians don’t report their income so the statistics on Asian wealth are never, never accurate. All those “poverty stricken” older Asians living on SSI disability have a lot more income than the $700 per month SSI payment. Almost all work full time in their under the radar small businesses.

  • Question Diversity

    I think this article is mostly right about the reason for the decrease in the black and Hispanic net worth, but it misses something important about the temporary increase in the white net wealth — The only reason stock portfolios and stock prices increased since the early 2009 nadir is because of quantitative easings, making the dollar less valuable. Ergo some white “wealth” and therefore some of the increased racial gap is illusory. Once the effects of QE are gone, the stock market will decline again.

  • Seek

    I will guarantee that all manner of egalitarian organizations will seize upon this report to note the hideous “disparities” uncovered. Then, they will call for measures (“fully funded,” of course) to close the gaps. Given the irresponsibility of black and Hispanic behavior, let me say with 100% certainty: The gaps will never be closed.

  • Anonymous

    “The only reason stock portfolios and stock prices increased since the early 2009 nadir is because of quantitative easings, making the dollar less valuable. Ergo some white “wealth” and therefore some of the increased racial gap is illusory. Once the effects of QE are gone, the stock market will decline again”

    They’ve been talking about this net-holding gap for over 20 years now. Admittedly the net-worth gap is kind of new as far as this minority-as-victim coverage goes. It often compares ‘households’, i believe. Up to half of all black ‘households’ consist of a single woman heading a family?

  • Anonymous

    The reason for the difference is simple. White people save their money for a rainy day. Blacks and hispanics tend to spend their money right away.

  • Rick

    I heard this reported on NPR (National Propaganda Radio) and it was spun in such a way as to make it sound like evil whites had done it again—-disenfranchised blacks and now, hispanics. They basically answered the problem in the report(better white savings rates and 401K savings) but the way it was articulated, it sounded like whites were stealing and robbing the poor minorities. The unspoken solution is to re-distribute the wealth from those evil crackas’ and give it to blacks and hispanics so it will be “equality for all”. God I hate socialists!!!

  • Li Wei

    I would’nt trust some pew survey. Instead I rely on the more authentic and valid US population census study for the year 2009 which shows Asian Americans still leading in terms of household income outscoring whites.

    Indian Americans ( Asians) had the highest income at $97,429, wheras Non Hispanic whites = $54,671.

    I wonder where Hope Yen got his “facts” from ?

    http://en.wikipedia.org/wiki/Model_minority#cite_note-median_income-6

  • Anonymous

    Interesting related story:

    Who’s Really to Blame for the US Mortgage Meltdown?

    Weaver

    Posted under Economics & Political Correctness

    Drew Zahn at WND writes an interesting piece, “Guess again who’s to blame for U.S. mortgage meltdown” (I suspect many will find the entire article worth reading – the following are two short excerpts):

    In a nutshell, Liebowitz contends that the federal government over the last 20 years pushed the mortgage industry so hard to get minority homeownership up, that it undermined the country’s financial foundation to achieve its goal.

    “In an attempt to increase homeownership, particularly by minorities and the less affluent, an attack on underwriting standards was undertaken by virtually every branch of the government since the early 1990s,” Liebowitz writes. “The decline in mortgage underwriting standards was universally praised as ‘innovation’ in mortgage lending by regulators, academic specialists, (government-sponsored enterprises) and housing activists.”

    “The federal government in the meantime has increased pressure on lenders to seek out minorities, as well as low-income groups and borrowers with poor credit histories,” Glenn said. “Fannie Mae recently reached an agreement with the U.S. Department of Housing and Urban Development to commit half its business to low- and moderate-income borrowers. That means half the mortgages bought by Fannie Mae would be from those income brackets.”In that same year, Freddie Mac warned of the logical pitfalls of pursuing loans on the basis of skin color and not credit history.

    The Washington Post reported that the company conducted a study in which it was found that far more black people have bad credit than white people, even when both have the same incomes. In fact, the study showed a higher percentage of African Americans with incomes of $65,000 to $75,000 had bad credit than white Americans with incomes of below $25,000.

    Such data demonstrated that when federal regulators demanded parity between racial groups in lending, the only way to achieve a quota would be to begin making intentionally bad lending decisions.

    The study, however, came under brutal attack in the U.S. Congress and was ridiculed with charges of racism.

    So, basically political correctness and federal attempts to redistribute wealth from “nonethnics” to “ethnics” led to this disaster.

    With a federal government like ours, how can anyone not want smaller government?

  • Bon, From the Land of Babble

    >whites who are more likely to have 401(k) retirement accounts or other stock holdings.

    Geez, Hope, Gimme a Break! Are you that clueless or are you trying to give the government one more reason to confiscate White wealth in the name of “social justice?” (I suspect the latter!).

    Whites have 20X the wealth as blacks because of three main reasons inherent in White DNA: higher IQ, the ability to plan for the future and the capacity to delay gratification — all lacking in black genes.

    We acquired these gifts after thousand of years of natural selection from living along the muddy edges of Ice Age glaciers –you see, those who didn’t plan for the long brutal winters didn’t survive, those who “cashed in” their assets (like eating up their food stores) also didn’t survive; mother nature took care of those stupid enough to believe that others would take care of them.

    Mother Nature is a *****; she forgives not.

    How many blacks even have an inkling about what “stock holdings” mean?

    And, blacks, with an inherent inability to plan for the future (not necessary in tropical climates) or delay gratification, cash in their 401k’s the first chance they get and no amount of convincing changes their minds — an intelligent black financial advisor told me this in a meeting, said he only like dealing with Whites because Whites understand the importance of having a 401k, of planning for the future!!

    You see, Ms. Yen, blacks believe that “others” will take care of them, the government will force wealth from evil White ownership and “spread it around” to them, so why shouldn’t they cash in their 401k’s or worry about the long term prospects of the stock market?

    But then, it’s a White Thing that neither YOU nor blacks understand.

    Did I make myself clear?

    Bon

  • Middle American

    So what’s the point?

    What am I supposed to do? Hand money to Shaniqua and DeJarvious?

    Wealth is tied to intelligence. Also to a work ethic.

    I can’t help it that blacks, lazy and already prone to criminal behavior, have IQs averaging 83.

    Perhaps they should take their $5600 and move back to Africa. Then they will be rich – relatively.

    I hate articles like this. The underlying implication is that white people have taken all the money from blacks and hispanics. No. It’s America (or what’s left of it) – white people are smarter and work harder.

    Give me a break already!

  • Tom Iron

    14 — Bon, From the Land of Babble wrote at 7:36 PM on July 26:

    ____________________________________________________________

    Good points Bon, but where you go wrong is thinking this all has to do with saving and logic and reason. That’s not the case anymore. What’s important to know is the die has been cast. We won’t be allowed to think of such things as stocks or 401ks and the like. The minorities will not allow that. They will come after us and when they do, they will mean to kill every last one of us. The time is now to realize that and prepare yourself and your family for the eventual bloodletting coming our way.

    Tom Iron…

  • sbuffalonative

    The elephant in the room that NO ONE ever addresses, and that we need to trumpet, is how the lifestyles and culture are different between those who have something and those who have nothing.

    I agree. I’m tired of hearing and reading about ‘the poor’ without context.

    Are we talking about people, who through no fault of their own, have experienced great lose and are in need of a hand up or are we talking about people who abuse drugs, commit crime, or made the choice to be lazy?

    Few people object to programs that help people who have experienced trouble. What most object to is lumping in miscreants and deadbeats with the true poor who would benefit from temporary help.

    You can’t help people who refuse to help themselves and I resent funding the ‘lifestyles’ of people who refuse to change.

    “Fool me once, shame on you. Fool me twice, shame on me.”

  • Enough

    Gosh I guess everyone that really believes in “social justice” should give everything they own to a black or a Mexican and shoot themselves in the head.

  • Howard W. Campbell

    “The white-black wealth gap is also the widest since the census began tracking such data in 1984, when the ratio was roughly 12 to 1.”

    This was only 20 years into AA; you mean that 47 years after AA that the gap has increased, I’m shocked! Whites who would be great candidates for Jerry Springer have more financial responsibility than state and federal employees with almost ironclad job security, imagine that!

    I’m sure the Obama administration is going to double down on mortgages and once again we will see people with little more than a pulse getting 300K loans on a burger flippers salary. Life is going to get interesting when China shuts the tap off and the money runs out.

  • Anonymous

    whites buy their own house by way of a bank. People of color live in a house owned or subsidized by the government. Now even this is used to prove white oppress people of color.

  • JG

    Why does the American media never compare black income in America compared to black income in sub-Saharan Africa?

  • Guilty Liberal

    Actually I think that if you invert the meaning of a liberal’s assertion you can often come across some truth.

    The liberals are practically screaming that income inequality will lead to violence.

    But I’m not so sure.

    I almost wonder if income inequality may actually reduce violence against whites.

  • Anonymous

    Thought experiment: Give a random sample of blacks an amount equal to what whites have for wealth. Then return 1, 2, 3,4 and 5 years later to see what those blacks did with it and whether they had less, the same, or more wealth beyond what they were given. Bets?

    Building AND HOLDING onto wealth takes discipline. Skills help too.

  • boogieboogie

    Most all of these are the same and we all agree that they really won the LOTTERY when they were brought over here.The ones I worked with spent their money on all stuff and are still working while I am retired,need I and you wonder why.They really are smarter than us by not working and letting us keep them up!And it goes to the next generation and we keep giving it to them,WHY?Is the US setting itself up for a civil uprising? When 51% pay no taxes and 43% get a Government check,why should they try to be smart and save and move up a class.The Uncle Tom’s do not want to be around them and understand also that you cannot change them.

  • AvgDude

    I’m white and live a very average life, but my current net worth is about $400,000 in the black because I’ve planned it that way. I really think that the problem here is that planning for the future is really a phenomenon of the white and asian mind, and not so much the black or hispanic mind. Amazing how many $50,000 cars their are in the ‘hood. I’d never buy a $50,000 car, and I can actually afford one.

    Some live with tomorrow in mind while others can’t see past tonight. It’s as simple as that.

  • White Pride

    #8 E Pluribus Pluribus:

    I believe you’re contributing to the dismaying trend of elevating blacks as “African-Americans” while demeaning us as “whites.”

    In this context, we should always be represented as “European-Americans.”

  • john

    This is a real shocker. Everybody knows how blacks in Africa and Mexicans in Mexico have always developed advanced societies in their native lands. It’s only when they find themselves in the US that they run up against carefully contrived obstacles.

  • Dave

    The elephant in the room that NO ONE ever addresses, and that we need to trumpet, is how the lifestyles and culture are different between those who have something and those who have nothing.

    I agree somewhat, some of the problems in the Black community are of their own making. But I disagree that lifestyle and culture are at the core of the problem. To rise out of poverty in contemporary America requires more than a positive attitude: it requires an intelligence that the majority of the Black community does not possess. In today’s market, higher paying jobs often require some technical skill to obtain an entry level position. You can’t become an engineer, an accountant, or an actuary if you do not have the IQ to perform those jobs.

    It is true that substance abuse, out-of-wedlock births, gang affiliation, ect., are all detriments to acquiring wealth, and that those problems cross racial lines. But those problems also disproportionately affect those with lower IQ’s, and those with family members and neighbors who have lower IQ’s. The reason Black culture will never value education as much as other cultures is because Blacks, on the whole, are not adept at academic learning. Instead, Black culture focuses on things that come naturally to Blacks, such as fertility, athletics, aggression, and music.

    I don’t think it’s fair to simultaneously hold that Blacks possess less cognitive ability than Whites, and also hold that Blacks are lazy and insouciant for falling into the same traps that low IQ Whites fall into. If Blacks are, on average, less intelligent than Whites and Asians, than there is no way they can be as successful as those groups.

    Personally, I think White liberals are the primary culprits for creating the urban nightmare that we face today, but that is another discussion.

  • Anonymous

    I would really like to know the statistics used and the methodology employed to derive these figures. I have many questions I would like to ask whoever arrived at these figures. For example, how are they measuring “net worth”? They say the black “net worth” is only $5,677.00. If a black worked for twenty years and only saved $283.85 each year (or just 77 CENTS a day) he would have this amount. This figure doesn’t even include any interest for the time period in question. Something is very strange about this “study”.

  • Anonymous

    #12 Anonymous, you’re right about asian immigrants. The elderly come here never having paid a penny in taxes, get SSI checks, medicaid, food stamps, housing. Ambulettes chauffeur them around to doctor appointments for free. Younger immigrants aren’t much better. Medicaid, food stamps, WIC checks. Many have tax-free income off the books. They sure do have lovely designer handbags though! Queens, NY is such a joke.

  • Anonymous

    mobs attacks just occured in greensboro nc blacks beat 58 year old white man plus monday flash rob in georgetown dc

  • Bon, From the Land of Babble

    The minorities will not allow that. They will come after us and when they do, they will mean to kill every last one of us. The time is now to realize that and prepare yourself and your family for the eventual bloodletting coming our way.

    Tom:

    Minorities are not intelligent enough to come after Whites. They will, however, be called upon by the USG, sicced on us, to play out their primary role of useful idiot, a job they have been primed for by the media, educational system and government.

    I believe you’re right about the bloodletting, but it will be in the form of mass destruction: The USG will throw everything it’s got in its arsenal at us, as in biological, chemical and nuclear weapons.

    As I wrote back in March: The government has all kinds of modern weaponry to throw against our rifles and shotguns, weaponry that can atomize large areas, tanks that will roll over us just as surely as they rolled over innocent Chinese in Tiananmen Square, 2,000 of them according to the International Red Cross; the USG will rain hell fire on us from above.

    Don’t think for an instant that the USG won’t hesitate to turn these weapons on Native Born White Americans as we White Kulaks are declared “useless surplus population” and slated for elimination.

    This is the scenario I believe we face; and I have seen no evidence of this NOT being our future.

    Bon

  • Anonymous

    No amount of wealth can compensate for poverty of intellect.

  • Lee

    It’s just a matter of time before our morally corrupt government will try to implement a “one time tax” on our 401K’s, our stock portfolios, our equity stakes in property. To oppose this tax will be considered “racist” as most of the wealth is owned by us evil white devils.

    —————————–

    Next time you’re in traffic, look around and take note of the number of blacks driving luxury cars. Affirmative action has done real well for Mercedes, BMW, Lexus, and Cadillac Escalades.

    Me, I’m driving a used Chevy Impala with 150,000 miles and putting the savings in a 401k – which, in all likelihood, will be seized by the government (see above comment).

    Maybe I should have enjoyed myself and blown the money on a new Beemer.

  • Anonymous

    This is about reminding us that Blacks are always the true-victims, and whites should always shut-up about all complains, forever and ever, and should always defer to 3X victim-blacks, at the very least.

  • Anonymous

    This is about reminding us that Blacks are always the true-victims, forever and ever. Black should always be racial conscious, and whites should always shut-up about all complains and always defer to 3X victim-blacks.

  • sam d

    This proves the truth that, “Statistics do not lie, but liars use statistics.”

    This story gives the false impression it is comparing all whites and all blacks, but it isn’t. It’s comparing all blacks with the wealthier segment of whites, which is a blatant distortion, because wealthy whites have had a lock on the riches of this nation for decades with the unwashed masses fighting constantly for their piece of the pie.

    White wealth IS greater for certain, but certainly no where near the figures they want us to believe.

  • Cid Campeador

    11 — AmericaFirst wrote at 6:30 PM on July 26:

    “I’ll add my voice to the chorus. The BIGGEST reason is that people of European ancestry are taught – by example, and by word – to defer gratification from an early age. Work is not fun, but a work ethic is inculcated in us from the time we are 10 or so years old. I speak from personal experience: I had a very large paper route at the age of 12 (125+ customers on Sundays and holidays, 75+ the rest of the time), and paid my way to Scout camp, bought my own bikes, etc. I paid my way through college. (No affirmative action, financial or otherwise, for me or my friends.) I am no different from almost all of my friends and the others I grew up with. Our lower middle-class neighborhood was a “melting pot” of European-Americans: Germans, Italians, Irish and Jews, mostly, with a few WASPS thrown in. No one was handed anything, but all managed to thrive, because of values learned early, and maintained throughout their/our lives. I always saved: my high school educated, immigrants’ son father had me investing in a mutual fund on a monthly basis from the time I was 20 (four decades ago). We were taught to pay our own way, rely on ourselves, and work, work, work! The two societies are separate and unequal due to choice. I am sick of the implication that there is something unfair in the system.”

    Bravísimo America First,

    I’m glad that you’ve added your voice.

    This is just another inflammatory attempt to stir the pot of discontent among the non-producers seasoned with references to the Kerner Commission report. Another demonization of Euro-Americans; perhaps setting off more physical attacks on us by FLASH MOBS etc. Just another piece of kindling in the fire and another inspiration to take from the “haves” and give it to the “will nots”.

    If there is a default there will be big trouble. White people! Stay in your homes and be locked and loaded.

  • The Bobster

    Jugdesh bloviated:

    I see my fellow Indian immigrants continuing to do well, despite how they say Blacks have been hardest hit.

    Maybe it’s because we have something called WORK ETHIC?

    _________

    Maybe it’s something called hiring quotas and undercutting existing pay scales?

  • ProudtobeWhite

    Blacks have a different mindset when it comes to money…for them it is all about instant gratification, not saving up for the future. With their risky lifestyle they never know if they will live to see another sunrise. Their lack of fiscal discipline and responsibility will keep them in perpetual poverty and squalor, and above all, dependent on Whitey as their benefactor.

  • Anonymous

    5 — Sureesh wrote at 6:18 PM on July 26:

    I see my fellow Indian immigrants continuing to do well, despite how they say Blacks have been hardest hit.

    Maybe it’s because we have something called WORK ETHIC?

    ———————————————–

    Here you go again….Then why aren’t YOUR people in India living the “good life”? Aren’t they “hard working” also? Have a work ethic?

    I will wager that your Indian immigrants benefited from our government’s hand outs to your people also. I have been to the Social Security office many times and have seen YOUR elderly getting in line to TAKE what they never paid a dime into. Does that also ADD to your income? I sure bet it does!

    I will also wager that YOUR people got these give away (free) government “loans” (only for NONwhites) to open businesses? This is why we only see mostly Indian, Arabs, Asians that have taken over EVERY donut shop, pizza eatery, 7-11’s, liquor stores, motels, and you name it. These places USED to be run by Whites in the GOOD ole days…until “our” government flooded this land with nonwhites the world over and gave them OUR dollars in the way of taxes. Go back to India since “our” government GAVE your people OUR jobs.

  • Tim in Indiana

    This story reminds me of the quote that has been attributed to both Horace and Juvenal: “Drive out nature with a pitchfork, yet she will always return.”

  • Bon, From the Land of Babble

    It’s just a matter of time before our morally corrupt government will try to implement a “one time tax” on our 401K’s, our stock portfolios, our equity stakes in property.

    ——————————————-

    I don’t believe it will be a one-time tax. It will be outright confiscation.

    The national debt today is a staggering $14.25 trillion. In the past 3 years alone, our government added $5.5 trillion in new debt – nearly a 60% rise.

    Federal spending increased a record 29% during President Obama’s first 3 years. The government budget deficit is estimated to be $1.2 trillion.

    ‘Total monetary and financial collapse of the massive government debt bubble is upon us, with devastating real-world consequences for your savings property values, investments, and other assets,’ says Robert Mundell, an economist at Columbia University. ‘We’ve never been in this unstable position in the entire currency history [of] 3,000 years.’

    Where can the federal government turn to for cash that can help it dig out of this hole?

    How about your IRA?

    ‘Extraordinary measures.’ Is how President Obama’s Treasury Secretary described his decision to raid federal employee retirement accounts recently – just as the federal government slammed into its $14.3 trillion borrowing limit.

    The reality is no matter what happens with the debt ceiling debate this week, if you have your money in a traditional retirement plan, you could be in GRAVE danger in the near future. Obama’s Treasury and Labor Departments recently had executive branch deliberations on nationalization of private retirement accounts, and they are actively looking for the opportunity to ram this asset grab through.

    Of course, they’ll say they’re doing it to ‘protect you’ from losing your money in the stock market.

    Politicians only look ahead as far as the next election and will not hesitate to lie to any/all to retain their power. Financial gurus look over the long term, what is coming up on the horizon; their success depends on their track record.

    The successful ones all seem to be predicting the same scenario; government confiscation of private retirement funds.

    Bon

  • Kenelm Digby

    There is only one way an individual can have such pitiable low personal wealth as black and hispanic Americans apparently have – By only working very few years on average during their ‘working lives’.

    By the law of accumulation even a worker on low pay who puts in a steady, long working career will build up a substantial nest-egg by the mere fact of putting in many hours.

    We can see this in China and other oriental nations where wages are low, but in general most of the working classes have substantial assets by American terms.

    The same was generally true of Italians, Poles and other ‘ethnics’ in the USA of 100 years ago.They worked hard and they saved hard.

  • True Blue

    E Pluribus Pluribus; stand your statement on it’s head and look at the question from a eugenic standpoint. Then ask yourself why you would want to breed up a population of irresponsible, dismally low IQ, violent children.

    As for the 401k and investment question; don’t worry, there are already plans to force your 401k into government bonds -in the name of ‘protecting your investment’; the government will then call these bonds they forced you to buy an ‘asset’ and use that to leverage more debt -for them to give away as bread and circuses -and for you to repay through inflation and direct taxation. Niccolo Machiavelli would be sooooo proud…

  • Anon

    #37

    I met that white man a day after it happened. He said they were trying to turn over cars too. I used to frequent that area too.

  • OBSERVER

    SUREESH

    You bother me. You derive your wealth from the society created by the white race. Where would you be if we whites had not created the industrial world?

    Back in India swatting flies.

    You come here to brag about how smart and great you are doing by fail to realize if there wasn’t a WHITE race for you to invade, you would be squating beside some fart belching bovine.

    Take away what the white man has created and you will find yourself working along side LaTrina and LeBoy.

  • Anonymous

    18 — Li Wei wrote at 7:12 PM on July 26:

    “I would’nt trust some pew survey. Instead I rely on the more authentic and valid US population census study for the year 2009 which shows Asian Americans still leading in terms of household income outscoring whites.

    Indian Americans ( Asians) had the highest income at $97,429, wheras Non Hispanic whites = $54,671.

    I wonder where Hope Yen got his “facts” from ?”

    Uh, I wouldn’t trust a Wikipedia article nearly as blindly as a Pew Report. According to the MSM reports I saw yesterday on this issue, whites represented well over $100,000.00 average income. That’s higher than Asians as you report it.

    Also, note that Asians have AA, and Protected Groups status for college and government job admissions, as well as many private sector corps that cowtow to these federal rules. The majority of Asians I see work at government jobs or Chinese restaurants.

  • Anonymous

    Many Asians jumped straight into the housing scam, turning over properties. The report I saw on Fox and CNN yesterday said that Asians got hit pretty hard in the foreclosure crunch. The only two houses on my block to foreclose so far were in the first case, owned by a Chinese family who apparently were addicted to gambling (Chinese are notorious gamblers, not so smart), and a white guy who smoked dope everyday. The white guy saw his tree trimming business crash when money tightened, but the Chinese family foolishly threw their money away on gambling, just like the ones that gambled that the housing bubble would make them rich (and some did get rich off it).

    Let’s not get too far along in Asian superiority stereotyping. They’re being given lots of advantages for some time, while whites are being beaten down. Belief in the myth will harm us. We’ve already got Sureesh as a regular propagandist here.

  • Li Wei

    To 54 — Anonymous wrote at 5:03 PM on July 27:

    Well check again, the link I provided will take you straight to the US population census 2009 which clearly shows that an Asian American group ( East Indians) are at the top of the economic ladder especially in terms of their median household income. The Pew survey by comparison is rather ambiguous.

  • Anonymous

    #56 (Li Wei) is right about particular groups.

    I know East Asians have higher net worth, but Asians as a group have lower net worth than whites as a group. This is partly because mostly upper-middle class immigrants came here from those areas.

    But also, Arabs and parts of Central Asia, as bizarre as it sounds, is counted as ‘white’ in the American census. If you would look for the original definition of white, North Europeans, then the numbers would be quite different.

  • Anonymous

    #56 (Li Wei) is right about particular groups.

    “I know East Asians have higher net worth, but Asians as a group have lower net worth than whites as a group. This is partly because mostly upper-middle class immigrants came here from those areas.

    But also, Arabs and parts of Central Asia, as bizarre as it sounds, is counted as ‘white’ in the American census. If you would look for the original definition of white, North Europeans, then the numbers would be quite different.”

    I’m that poster. Now that you put it in this light, it makes more sense. I know that I have seen many Indian owned motels and other businesses that they bought with wealth they imported. I recall reading an article some time back that this was a trend. I have even stayed in a couple Indian owned motels in the past six years. They are usually older, but clean. I imagine there were not too many Cockney land owners out in the Empire making investments during the Victorian/Edwardian (Pre-WW2) periods either.

    So this makes sense about the stats, but does not contribute to the implication that Indians are wealthy because of higher intellect or ability. My direct experience with Indians is that they are pleasant to deal with, but often use fraud and scams in creating advantages for themselves. I read an article in Wired I think, a few years ago where a writer was exposing the trend to hire an Asian, any Asian in high tech because it was assumed that they were automatically better trained. It had turned out that many hardly knew the basics, but it did get them into the U.S. I recall a “professor” I had at my private college in the late 1970s who was from India. It turned out that she hardly knew her subject and was dismissed from the faculty. But she had a PhD, and now a foothold in America.

  • Anonymous

    Please remember that this is wealth, not income.

    Wealth is real estate, insurance policies and investments. This article is only about the average White wealth. I am sure that Bill Gates, Warren Buffet, Steve Forbes and Richard Blum Senator Feinstein’s husband have enough wealth that when averaged with 5 hundrend thousand Whites with no assets whatsoever not even a car half paid for it looks like they are worth $113,149.

    Remember,all those billionaire Whites are the ones who fund the anti White organizations like ACLU/NOW/SPLC. When Judges order colleges to discriminate against White applicants whose family incomes are far below the poverty line, the Judges will use the fact that the average White has property worth $113,149 to justify discrimination against Whites.

  • Anonymous

    56 — Li Wei wrote at 6:49 PM on July 27:

    Well check again, the link I provided will take you straight to the US population census 2009 which clearly shows that an Asian American group ( East Indians) are at the top of the economic ladder especially in terms of their median household income. The Pew survey by comparison is rather ambiguous.

    Li Wei: You live in England don’t you? In Britain Indians, Pakistanis, Afghans and even Turks are classified as Asians. In America, Indians, Pakistanis, and Afghans are classified as White Caucasians. Even the black skinned Dravidian southern Indians are classified as White in America.

    Does anyone know what the British government calls people who are Chinese, Japanese, Korean, Mongolian, Laotian, Thai Vietnamese and Cambodian?

    I agree with Bon. The government wants to exterminate us. Literally millions of people make their living herding the poor and dysfunctional. These are all government jobs. Government wants a population with average 80 IQs and millions of badly cared for children so social workers can have lots of work.

    As much as some teachers complain about the influx of below 90 IQ students, those dumb delinquents provide hundreds of thousand of jobs in counseling special ED and all sorts of programs for under achievers that employ millions.

    I think one reason the colleges are so eager to admit the unqualified is all the jobs of coordinators, tutors, advocates and basically herding around those who need herding around just to get to the bookstore and buy their text books. The University where I work has jobs for grad students. I forget the title. It is not tutor. Among other things they are supposed to make sure their affirmative action charges actually go to class and their tutoring sessions.

    A reasonable man would call the job baby sitting or maybe herdperson or AAherder. But reason has fled academia and will never come back.

  • Anonymous

    “most of the working classes have substantial assets by American terms. The same was generally true of Italians, Poles and other ‘ethnics’ in the USA of 100 years ago.They worked hard and they saved hard”

    Why save when someone will give to you? The less you claim to have the more they give you.

  • Li Wei

    60 — Anonymous wrote at 5:07 PM on July 28:

    Yes, I live in London, England. Even here the Asian Indians seem to do quite well. The richest man in UK / Europe is the Indian Steel Tycoon Laksmi Mittal, who owns the biggest steel corporation in the world. And most of the mom and pop shops, Jewellery stores and other such business houses are owned by Indians of a certain ethnicity. I see many top rated Indian medical doctors, researchers and engineers here. In education, Indian and Chinese students score the highest outscoring even white Britons. They seem to be really smart.

    http://goo.gl/MwVy6

    In Europe, the Guurati Indians recently beat the traditional Hassidic Jewry in dominating the gold & Diamond business. Gujurati Indians are the world’s biggest Diamond traders making them very wealthy & affluent. Here in Europe, Indians are considered Asian. Most of them here are merchants or in some kind of academia/ profession related to science, medicine or engineering.

    http://goo.gl/c4MT9

    Thus based on better academic skills and intellect today, Chinese & Indian men get better jobs than native white Britons, thus making them wealthier than the native Anglo-Saxon-Nordics. We can see how intelligence & better education achievement corresponds to wealth. Similarly, whites outscore minorities such as Moslems, Blacks, Pakistanis, South East Asians, Koreans, Arabs etc.

    http://goo.gl/QmgpW

    Also, in terms of Mathematical skills Indians score the highest. Where as in overall Quantitative skills, Chinese are the highest. The west especially USA trails behind them.

    http://goo.gl/4kP2X

  • Courtney from Alabama

    Li Wei, comments such as your’s only make us angry. How dare you talk about how superior your people are while living in a white country, taking jobs away from white people. Just for the record, Indians, overall aren’t smarter than white people. Look at how backwards India is. It isn’t fair to compare the cream of the crop immigrants to the general white population. The same is true of the Chinese. Stay in your own countries if your people are really so much better than us. You make me sick.

    And you also conveniently ignored certain factors that make the Chinese and Indians better in math as you say. If you were to compare the test scores of Indians overall, they would do very poorly compared to whites overall, as the average Indian in India lives in a village. They even explained in the article you cited why Indians do so well, but you ignored that. Of course, if India and China are trying to catch up with the West, they are going to put a lot of emphasis on students going into engineering etc…in their countries. The West is already at the top so we feel less of a need to do this. Have fun reaping the benefits of learning the math that MY ancestors developed mostly. Also, India and China have large populations out of which it is very easy to train small percentages to do extremely well on math tests. I agree that when looking only at the Chinese, and Japanese (and Koreans), that they offer the West good competition when it comes to taking tests. But as I said before, it was my people who invented most of the math as well as the other areas of endeavor that your people are trying to outperform us in, such as space exploration etc…

    Please take your arrogance somewhere else. The white people on this website aren’t interested in hearing about it, especially when our own governments are favoring you over us.

  • Banshee

    Also, in terms of Mathematical skills Indians score the highest. Where as in overall Quantitative skills, Chinese are the highest. The west especially USA trails behind them.

    Yes, China and India certainly DO have us beat in a few areas.

    We trail behind Indian here: http://goo.gl/n7BV4

    And China here: http://goo.gl/BAti

  • ATBOTL

    Am I the only one who finds posts by Asian supremacists to be tedious?