Why are Blacks Still a Lot Less Wealthy than Whites?

According to an article on the CNN Money website the net worth of whites is 13 times the net worth of Black families.  For instance white net worth in the economic recovery rebounded to an medium of $141,900 while in contrast the net worth of a Black family was down 33% to only $11,000 (BTW Hispanic/Latino family net worth was down 14% to $13,700).

The source for the stats in the CNN Money article was the respected Pew Center for Research.  The CNN article also gave opines on why there is such a wealth discrepancy...

"Minority households' median income fell 9% between 2010 and 2013, compared to a drop of only 1% for whites. So minority households may not have been able to sock away as much or may have had to use more of their savings to cover expenses.

Also, the financial markets have rebounded much more than housing in recent years. Since whites are more likely to own stocks, they have seen a bigger wealth boost.

Real estate, on the other hand, makes up a big chunk of blacks' and Hispanics' net worth. But homeownership declined faster among minorities than whites between 2010 and 2013.

Only 47.4% of minorities were homeowners in last year. But 73.9% of whites owned homes." 

Therefore Black family net worth is far less than white families. That is net worth not income.   One of the reasons our net worth is far behind is we are paid much less.

The average Black Family makes $20,000 less than white family. And it isn't all because of education.

Recently a study showed a Black man with a BA is only as employable as a white high school graduate. If you do the math $20,000 less a year over a 40 year work career at 6% compound interest is 1.3 million dollars Black families financial shortfall.

Therefore, most Black families don't have the money to invest in assets to improve their net worth. They're having a hard time just paying necessities to survive.  Contrary to what most people believe Black families aren't overwhelmingly buying Jordans for their children.

Or they may get last years styles at a mark down. They're all not paying $300 for Jordans.

Latinos and Asians have more net worth than Blacks because they invest in businesses while Blacks have been conditioned/socialized to seek good employment. It is hard to get ahead and get assets to increase your net worth when you work a job as your primary source of income.

About the Publisher of Kamau's Qu!ps

Kamau's Qu!ps is Published by Kamau Austin. Kamau is a popular Blogger, Writer, and Internet Marketing Professional helping small businesses grow more profitable businesses online. If you need web design, blogging, search engine or social media promotion contact him at Search Engine Plan

Kamau's Qu!ps reaches over 30,000 web users a month through it's Blog and Social Media Promotions. For Advertising Opportunities visit our Advertising Page

Is the Black Church an Outdated Relic from the Past?

Dr. King and Christian Churches in the South Helped Fight Jim Crow Segregation

A lot of people have never studied the history of the Black Church. They listen to a few Afrocentric scholars who castigate the Church and the image of a white Jesus, and think they know all about it.

They never study how our early churches reinterpreted the Bible to be a book inspiring their struggle for equality, liberation, and freedom. In fact I had to do years of my own study and go to seminary and study with progressive Black theologians to learn about the progressive wing of Black Christianity.

Churches and Black preachers were in insurrections, revolts, advocated leaving mainstream churches, were involved in escapes from slavery and the Underground Railroad, compelled Blacks to fight in the Union Army, started our 1st independent schools, insurance companies, businesses, colleges etc.

Harriet Tubman a Devote Christian Helped Free Slaves in the Underground Railroad

This is sad because the Church is one of the few organizations we run that has a cash flow model that works well. Unfortunately too many of our people see the materialistic focused TV ministry of today and think this is the totality of our churches civic practice. But this isn't true for all churches.

Or they see the social escapism or apathy from politics by some of our more recent denominations like the Pentecostal/Holiness churches which wait for the 2nd coming of Jesus and think this sums up the Black church. It does not. There are still very progressive community focused churches today.

For example a number of Black churches in NYC own commercial real estate. Actually some Black churches in NYC own hundreds of millions of dollars in commercial real estate. There's one that owns 1 billion dollars worth of real estate in Harlem and a lot of mainstream corps pay them rent. They also started 1st home buyers housing developments so Blacks could own their 1st homes and not pay rent. They also started senior living houses, housing for battered women, anti-gang activities, homeless shelters, independent schools, and business startup support groups. While some Blacks feel Christianity is a "white man's religion," many of the black churches in the NYC area don't have imagines of white Jesus' either.
Also Remember the 1st Christian Churches or oldest denominations are in Northern Africa know as Coptic Christians. Also Black Jews known today as Falashas have the oldest versions of the Old Testament books. I don't know about other areas of the country but in NYC and NJ their are churches that do a lot of economic and business development. For instance Abyssinian Baptist Church has 1 billion dollars of commercial real estate. There are a lot of other churches like Allen Cathedral and Christ Church that do similar things with hundreds of millions of dollars.

Black Churches like Allen Cathedral in Queens Build Housing for Seniors

About the Publisher of Kamau's Qu!ps

Kamau's Qu!ps is Published by Kamau Austin. Kamau is a popular Blogger, Writer, and Internet Marketing Professional helping small businesses grow more profitable businesses online. If you need web design, blogging, search engine or social media promotion contact him at Search Engine Plan

Kamau's Qu!ps reaches over 30,000 web users a month through it's Blog and Social Media Promotions. For Advertising Opportunities visit our Advertising Page

How Can You Hate the Christian Message?

Some Black people hate Christianity these days. I've seen some people recently curse Jesus out. I mean literally curse him out.

But Jesus shouldn't be the villain for all the self serving political and religious institutions that have used Christian teachings to control and oppress people.  If you read the Bible for yourself you'll see that Jesus took on the self righteous and social elites of his time. He healed people, fed people, and in short uplifted people. How can you hate someone like that?

I also hate the way elites and dogmatic people use the Bible to control and condescend to people. I just can't stand it either how people use the Bible to justify slavery, inequity, poverty, racism, ethnocentrism, sexism, and similar isms.

If you strip away the dogma surrounding the Christian message it is a very simple one. God loves you and while the world may try to victimize you and hold you down with faith and love God's gonna raise you UP!

About the Publisher of Kamau's Qu!ps

Kamau's Qu!ps is Published by Kamau Austin. Kamau is a popular Blogger, Writer, and Internet Marketing Professional helping small businesses grow more profitable businesses online. If you need web design, blogging, search engine or social media promotion contact him at Search Engine Plan

Kamau's Qu!ps reaches over 30,000 web users a month through it's Blog and Social Media Promotions. For Advertising Opportunities visit our Advertising Page