First Black President Can’t Help Blacks Stem Wealth Drop

  • Posted by a hidden member.
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    Sep 06, 2012 12:01 PM GMT
    http://www.bloomberg.com/news/2012-09-05/first-black-president-can-t-help-blacks-stem-wealth-drop.html

    The nation’s first African-American president hasn’t done much for African-Americans.

    Richard Brown, 40, a U.S. Army veteran and college graduate, lost his job as a community organizer in Durham, North Carolina, amid the 2008 credit crunch. Unemployed for seven months, he worked temporarily at a grocery store for one-third his previous salary before landing a position in 2010 at another nonprofit, helping establish minority-owned businesses.

    The employment roller coaster punched a hole in his bank balance and left his net worth “sitting at zero,” says the married father of two. “We’re easily three years behind where we would have been,” Brown says.

    So are millions of other African-Americans whose tenuous hold on prosperity has slipped since President Barack Obama reached the White House. The recession and anemic recovery, while painful for most Americans, have been especially punishing for blacks, stripping jobs, homes and wealth from people who have historically lagged.

    “These groups have been very, very hard hit, not only in the recession, but in the recovery that followed,” says economist Gary Burtless of the Brookings Institution. “Things have been very grim.”

    Today’s 14.1 percent black unemployment rate is almost twice the 7.4 percent white rate, and the racial gap -- after narrowing from 2005 to 2009 -- has widened since the recession’s June 2009 end. At Obama’s inauguration, 7.1 percent of whites were jobless compared with 12.7 percent of blacks.
  • Laurence

    Posts: 942

    Sep 06, 2012 12:05 PM GMT
    Tsk! don't you ever get sick of copying links from other websites Riddler?

    It's boring and makes you look like a loser.

    Most people on here know how to surf the web, why don't you let them do their own research and go and get a life?

    Loz
  • CuriousJockAZ

    Posts: 19136

    Sep 06, 2012 12:27 PM GMT
    Laurence saidTsk! don't you ever get sick of copying links from other websites Riddler?

    It's boring and makes you look like a loser.

    Most people on here know how to surf the web, why don't you let them do their own research and go and get a life?

    Loz



    Oh please, Metta does the very same thing. Nothing wrong with making it easy for the reader by providing a link to back up an opinion, and let the reader decide for themselves if the link is worthy or simply propaganda.
  • Posted by a hidden member.
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    Sep 06, 2012 8:29 PM GMT
    lol, OK so Obama is not playing racial favourites. I can imagine the screams from certain Conservatives had he created special assistance for blacks.
  • TroyAthlete

    Posts: 4269

    Sep 06, 2012 8:31 PM GMT
    Laurence saidTsk! don't you ever get sick of copying links from other websites Riddler?

    It's boring and makes you look like a loser.

    Most people on here know how to surf the web, why don't you let them do their own research and go and get a life?

    Loz


    He's Canadian.
  • Posted by a hidden member.
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    Sep 06, 2012 8:52 PM GMT
    riddler78 said

    The nation’s first African-American president hasn’t done much for African-Americans.

    Kinda hard when.................
  • mke_bt

    Posts: 707

    Sep 07, 2012 1:14 AM GMT

    Silly riddler. Everyone knows that Bill Clinton was the first black President. Your maple leaf is showing.
  • Posted by a hidden member.
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    Sep 07, 2012 1:32 PM GMT
    yourname2000 said
    TroyAthlete said
    Laurence saidTsk! don't you ever get sick of copying links from other websites Riddler?

    It's boring and makes you look like a loser.

    Most people on here know how to surf the web, why don't you let them do their own research and go and get a life?

    Loz


    He's Canadian.

    Don't blame us. Riddler's a loser troll long before he's a Canadian. We are not responsible for that fucking douche.

    "ignore his posts" was made for a piece of shit like this guy. He should be ostracized out of RJ.


    Heh - the irony is palpable.
  • Webster666

    Posts: 9217

    Sep 08, 2012 4:27 AM GMT
    Dear Dumbass,
    Look around you.
    People of all stripes are out of work, not just black people.

    And, it certainly isn't our President's fault.

    Any President would wave his magic wand and wipe out unemployment, if he could.
  • Posted by a hidden member.
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    Sep 08, 2012 7:17 PM GMT
    Webster666 saidDear Dumbass,
    Look around you.
    People of all stripes are out of work, not just black people.

    And, it certainly isn't our President's fault.

    Any President would wave his magic wand and wipe out unemployment, if he could.


    sadly to many of the left, nothing is Obama's fault, there is always someone else to blame. Now how they gonna blame if he looses?
  • Webster666

    Posts: 9217

    Sep 08, 2012 8:54 PM GMT
    tru_blu_auzzie said
    Webster666 saidDear Dumbass,
    Look around you.
    People of all stripes are out of work, not just black people.

    And, it certainly isn't our President's fault.

    Any President would wave his magic wand and wipe out unemployment, if he could.


    sadly to many of the left, nothing is Obama's fault, there is always someone else to blame. Now how they gonna blame if he looses?



    "Now how they gonna blame if he looses ?"
    COULD YOU PLEASE TRANSLATE THAT GIBBERISH INTO ENGLISH ?