Obamaconomics Destroyed the Black Middle Class
From the Chicago Sun-Times:
Millions of Americans endured financial calamities in the recession. But for many in the black community, job loss has knocked them out of the middle class and back into poverty. And some experts warn of a historic reversal of hard-won economic gains that took black people decades to achieve.
“History is going to say the black middle class was decimated” over the past few years, said Maya Wiley, director of the Center for Social Inclusion. “But we’re not done writing history.”
Adds Algernon Austin, director of the Economic Policy Institute’s Program on Race, Ethnicity and the Economy: “The recession is not over for black folks.”
In 2004, the median net worth of white households was $134,280, compared with $13,450 for black households, according to an analysis of Federal Reserve data by the Economic Policy Institute. By 2009, the median net worth for white households had fallen 24 percent to $97,860; the median net worth for black households had fallen 83 percent to $2,170, according to the institute.
I discuss how “progressive” economics destroys us all, but most especially those at the bottom of the ladder.
As I recall from vampire lore, a vampire may not enter your house unless you invite him in.
Nice metaphor!
Thank you. I was first, so I tried to keep it pithy.
Obama is destroying middle class wealth too as the Chicago Sun-Times article notes.
generally I meant
“History is going to say the black middle class was decimated” over the past few years, said Maya Wiley, director of the Center for Social Inclusion. “But we’re not done writing history.”
No, they’re not done “writing history” by a long shot. Give Maya and her fellow victim pimps enough time and they’ll hammer the narrative back in place… It won’t be blacks to blame or the complete breakdown of their families dues to an orgy of America bashing and hatred ogpf whites – it won’t be the Democrats or Obama, or devotion to communist wealth redistribution, it won’t be a congential incapacity in the black community to self-critcize, or their culture of violence and desecration of women, it won’t be black bigotry against whites, or black-on-black or black-on-white violence, or blacks clinging to victimology and what America “owes” them that will be the culprit…
When the victim pimps get the narrative back on track, it will be the usual suspects. “White Ameica”, slavery, Racism!(tm), and capitalism that reduced them to their sorry state…
You mark my words, America is remembering those 8,500 people who comprise the United Trinity Church of Chicago as they stood, clapped and cheered as Obama’s minister denigrated America with his anti-white hate speech. The black intelligentsia almost to a man defended him and that’s when America came to realize this anti-white stuff went far beyond Obama’s church.
Black Americans who indulge in and support such hate speech should understand that they’re not making any friends out there and there is a big, wide world out there beyond the insulated confines of black self-absorption with race.
There are some hateful arguments against one’s neighbors you can’t afford to win in your living room when broadcast to the entire neighborhood.
Obama, sites like The Root, and men like Rev. Wright, Boyce Watkins at Syracuse, Cornel West at Princeton, Melissa Harris-Perry at Tulane, Roland Martin at CNN and many, many others have jumped on white America, encouraged by Obama’s success into thinking that we all agree that white people without names, addresses or faces, just white skin, are endemic racists.
Well, we don’t agree and Obama, Holder and their cadre have probably put race relations in America back 30 years. This idea that there is such a thing as defensive hate speech is coming to an end. It’s 2011, get a new clock and stop bitching about lynchings, slavery and Jim Crow as if they’re disgorging slaves in New York harbor this very minute.
During the Reagan years, unemployment % dropped for blacks more than for any other demographic. During the Obama years, it has increased for blacks more than any for other demographic.
Will blacks ever get this?
I know, I know… raaaciiiiist!
The irony is delicious: blacks thought Obama would be their Messiah and take care of them.
As H.L. Mencken put it Democracy: (inter alia) The theory that the common people know what they want and deserve to get it good and hard.
Obama and his band of Chicago and Harvard Merry Pranksters have been as corrupt, lawless and devastatingly bad for America as any Carpetbagger, Scalawag and Freedmen government during the worst excesses of Radical Reconstruction.
Two years ago we were at the edge of the precipice. Since then, we have taken a great step forward.
Thank God it wasn’t a leap, or we wouldn’t be having so much fun tumbling and bouncing all the way down — it’d be just a boring straight shot to the bottom instead.
So, Bachmann was right. Obama has let down African Americans.
LBJ let them down. BHO is looking out for numbah won. There’s *LOTS* of room under that there briar bus.