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George Bush had one of the worst economic policies and economic corruption in my lifetime, causing the great recession.
But Obama, like Bush, stacked his economic cabinet almost completely with Goldman Sacs banksters and not one
corrupted CEO or bankster ever went to jail despite their travesties.. He bailed out the banks, the phony insurance agencies, the rating companies, with no repercussions.
The Too-big-to-fail banks that Obama promised to reform, DOUBLED in size under him. So in my books I put Obama just as corrupted and responsible for our economic corruption and mess as Bush.
The economy after eight years finally started to recover DESPITE Obama and the democrats original majority, as congress got turned over to the republicans.
Perhaps they ought to start teaching financial management in schools, instead of art/music/basket weaving, etc.
Just a thought.
In the state I live in "personal finance" is a requirement. Art, music, basket weaving are not and we still have negligible wealth amongst the black population...
I really doubt this $8 figure is true. I'm pretty sure most black people own a car if not a house, and they'd need a hell of a lot of debt to cancel that out.
I really doubt this $8 figure is true. I'm pretty sure most black people own a car if not a house, and they'd need a hell of a lot of debt to cancel that out.
You’ve never heard of being upside down on a car?
I really doubt this $8 figure is true. I'm pretty sure most black people own a car if not a house, and they'd need a hell of a lot of debt to cancel that out.
Own or lease?
I think it’s defijitely true once you factor in bills and debt. The problem with this is most white folk are in the same boat. The difference is the few super wealthy at the top skew the numbers.
That's because they vote Democrat no matter where they are, on average of course.
Being a Democrat isn't simply about who you vote for...it's a mentality.
Then explain Tchula, Mississippi. That town had a Black Republican mayor at one point. It didn't improve the town's economic prospects. It is still one of the poorest places in America.
Atlantic City, New Jersey. It had a Republican mayor during the 1980s. Didn't really help that city much, and the mayor got caught up in a scandal. While alot of casinos might have been attracted to Atlantic City, alot of crime still took place. Blacks were still more likely to be unemployed and living in poorer conditions compared to other groups.
Now, answer this. How would voting for a Democrat in a Republican-ran area keep Blacks from getting jobs or living better? If they are living in an area ran by Republicans, does it really matter?
Many black people in Atlanta primarily move to the above locations because they have school aged children and APS school district is pretty crappy and even the worse West Cobb schools are usually better than APS. Stone Mountain actually has a pretty deep black population base due to the former white flight that occurred in DeKalb back in the 1960s and 1970s. They also have nicer homes in the burbs.
Most poor black people don't own anything either like a home and so they of course would not have any wealth and are subject to rent increases, which along with the crappy schools, increase the likelihood of them moving out to the burbs.
I know this. I was just bringing up one part of the situation, as it applies to the title of the thread. It talked about Blacks in Boston having a net worth of $8. I think that statistic is highly exaggerated. However, my point is that the net worth for Blacks is lower compared to other groups throughout alot of major cities. I was pointing out the role gentrification is playing.
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