I like to think that this blog can sometimes be used as an educating tool with useful information so that you can feel smarter during your existence on Earth. From time to time, I do present some astonishing information that I come across in my life that most likely you’d never see. I feel like I get readers who are Sam’s friends in the young 20 range, my friends in the 25-28 range and some older lurkers who stumble upon my blog through Facebook or random Google searchers. With that demographic reading my blog, I’m curious how many of you have ever even thought about this chart below.
This should be jaw dropping for some and hopefully enlightening. First thing that should amaze you is the absurd headline they use, “The net worth of whites declined less percentage wise than for Blacks or Hispanics during the recession.” The chart says that white households, on average, now have almost 20x as much wealth as blacks and 15x more than Hispanics, up from about 11x and 7x respectively before the recession. Yes, I think that is an amazing headline, however, isn’t the real story the discrepancy in net worth? I’ve seriously been living in fantasy land. It’s common knowledge that the white race founded the country and have been leading America for hundreds of years to obtain wealth. Due to slavery and such, it’s fairly obvious African Americans had a huge mountain to climb getting started accumulating wealth. Hispanics assimilated into this nation over time and wouldn’t have the same opportunities as Whites. This range though is nothing I would have imagined. If I made a poll to guess these numbers I bet people out there would be absolutely clueless. I guess I’ve felt that the nation has progressed quicker in terms of equal opportunity. I don’t “feel” this chart. These numbers have to be put in front of my face (and now all of yours) to get a better understanding of financial terms amongst our society.
I do want everyone to know that these numbers are all going to be irrelevant August 2nd. Our divided White House won’t be able to come to an agreement. The US credit rating will be cut, our dollar will become worthless and everyone’s net worth will be equal at 0. Load up on the canned food and find shelter because there is going to be chaos. If you don’t read the paper, and this chart means nothing to you, you most likely live a carefree life immune from fiscal responsibility. Money doesn’t matter to you, you find happiness in love and the world keeps on turning. I envy that but reality tends to strike the unbeknownst first. At least you read my blog so I can give a piece of the tiny clue I have.