The Boston Globe’s Spotlight investigation team cited the statistic in its first installment of a series focusing on Boston’s black community and the city’s reputation as one of the most anti white racist urban regions in America.
The eyebrow-raising out right embarrassing statistic left many white liberal readers wondering if the number was a typo, prompting the Boston Globe to write a follow-up article the next day, on December 11, titled: “That was no typo: The median net worth of black Bostonians really is $8.”
The $8 figure comes from a 2015 report authored by the Federal Reserve Bank of Boston, Duke University, and the New School. According to the report, the median household net worth in the Greater Boston region is $247,500 for whites, $8 for US blacks, $12,000 for Caribbean blacks, $3,020 for Puerto Ricans and $0 for Dominicans.
The Globe’s follow-up article noted that net worth is determined by subtracting debts from assets, which means that blacks and Dominicans in Greater Boston “owe almost as much as the combined value of what they own — if they own anything at all.”
A reader just asked me whether it was a typo when @GlobeSpotlight wrote that non-immigrant African-Americans in Greater Boston have a median net worth of $8. Sadly, no. http://apps.bostonglobe.com/spotlight/boston-racism-image-reality/series/image/ …
Boston. Racism. Image. Reality: The Spotlight team takes on our hardest question
The Globe’s Spotlight Team confronts one of Boston’s most vexing issues — racism — in a seven-part series that examines the city’s pervasive and persistent national image as a place unwelcoming to…
I’m not perfect but I just want to say, there is always *something* you can do to show your investment in the WHOLE community.
While the economic security of Boston-area blacks may be conspicuously dicey, studies point to a nationwide trend of African-American households haemorrhaging wealth. This of course is all the fault of white on Black racism, nothing whats so ever to do with the irresponsible debtors themselves.
A recent report by the People’s Policy Project, an economic think tank, found that black wealth suffered considerably during the Obama administration.
“Between 2007 and 2016, despite their Black privilege the average wealth of the bottom 99 percent decreased by $4,500. This decline was particularly concentrated among the housing wealth of African-Americans. Outside of home equity, black wealth recovered its 2007 level by 2016. But average black home equity was still $16,700 less. Meanwhile, over the same period, the average wealth of the top 1% increased by $4.9 million,” the report concluded.
Citing the report, the left-leaning Jacobin hate magazine said that “the first black president in American history turned out to be a disaster for black wealth.”
The so called intellectuals that first reported this communities collective failure and the those that joined in reporting it all failed to rightly criticise the debtors themselves, It is not just the western Governments and their medias that are corrupt, it is the society as a whole the academics system and its institutions of the west are totally compromised beyond repair. The whole system and everyone working for it or studying within it must be written off as sane functioning adults.
In order to survive this madness we must build our own educational institutions or succumb to the madness of what was once rational thought and western civilization.