"From 2005 to 2009, the average black household's wealth fell by more than half, to $5,677, while white household wealth fell 16 percent to $113,149, according to the Pew Research Center. In 2009, 24 percent of black households had no major assets other than a vehicle, compared with 6 percent of their white counterparts."A generation of wealth and assets are evaporating, and the presidential candidates aren't making a peep about it," said Keeanga-Yamahtta Taylor, 40, a doctoral candidate in African-American studies at Northwestern. "We're talking about historic changes in manufacturing, and these are systemic changes in the economy and in the midst of this, people are being left behind." But much less attention has been given to the black middle class, which since the recession and slow recovery has suffered massive decreases in wealth and high rates of home foreclosures. Blacks overall are experiencing a 13.4 percent unemployment rate, according to figures released Friday, much higher than the national rate of 7.8 percent.The Pew Charitable Trusts' Economic Mobility Project recently released a report projecting that 68 percent of African-Americans reared in the middle of the wealth ladder will not do as well as the previous generation.In August, the National Urban League's State of Black America 2012 report found that nearly all the economic gains that the black middle class made during the last 30 years have been wiped out by the economic downturn."http://articles.chicagotribune.com/2012-10-07/news/ct-met-bl...They can thank 'trickle down' government and a government hell bent on making more and more dependent upon government handouts as their major policy. 70 years of 'progressive' policies (liberal left wing socialist Marxist ideas) have fostered an 'entitlement state' .....And did you catch that 'doctorate' in AFrican American studies? I'm sure that is really helping the US retain its lead in manufacturing productivity, invent the next iPhone type idea to provide employment for her kids, etc........ instead, just another 'academic' like Obama trying to 'talk' the economy and the world into doing his/her 'textbook' ideas about a fictional reality in lib land t.
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