Tag: racial wealth disparity


the color of money

July 31st, 2011 — 10:29am

(learn more about the book at the “Ask Me Anything” on Reddit)

A newly released report from the Pew Research Center about the inescapably color-coded impact of the recent recession brought some startling data to light: the median net-worth of a white family is now 20 times that of a black family, nearly doubling the size of the pre-recession gap.  The wealth differential between whites and minorities in America is now at an all-time high, a startling reality that was reported on by many major news organizations.

But no one explored the long-standing economic disparities that existed between races in America long before the current economic crisis emerged, or even attempts to get to the root of the issue.  Roots which extend back to the birth of sub-prime mortgages, an industry that wasn’t about classifying the mortgages themselves but instead about categorizing and labeling the people applying for them based on one important and decisive factor.

Plenty of articles mentioned the fact that between 2005 and 2009 although white families saw their median wealth fall by 16%, blacks watched their median wealth plummet 53%.  Much of the disparity is accounted for by the Pew Research Center as a result of declines in media home equity, but why should black and white homes have such different values?

Eminem seemed to have no sense of the irony that was invoked as his self-consciously white autobiographical film, 8 Mile, highlighted the hopeless plight of Detroit’s urban black community that’s existed for generations. The 8 Mile district was created in 1941, when a six-foot wall was built around a black enclave that was deemed unfit to accept loans from the Federal Housing Administration. This was “part of a system that divided the whole city, in theory by credit-rating, in practice by colour.” And so the segregation that emerged in Detroit “was not accidental, but a direct consequence of government policy.”1

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the more things change

June 8th, 2011 — 11:00am

(read the book free online – get a copy for your Kindle – read the Reddit AMA)

Al-Qaeda didn’t realize it at the time, but the blueprint for their next campaign of terrorism against America had already been sketched out across the suburban roads and streets of Washington D.C. nearly a decade ago.  In the fall of 2002 the DC Sniper terrorized suburban Washington, killing ten people and critically wounding several others.

It’s taken awhile, but they’ve finally put the pieces together and in the first operational video released since Osama bin Ladin’s death are calling on Muslims in America to carry out the exact same type of attack, simple random shootings that don’t require a cell of fellow terrorists or the resources to construct a bomb – just one bullet and one victim at a time.

These random, utterly unpredictable shootings can be terrifyingly effective. If you weren’t there at the time it’s almost impossible to portray the aura of terror that settled across the beltway duringthe DC sniper’s attacks:

“As the DC Sniper methodically laid victim after victim against the silent and unflinching pavement, every element of society became clotted with the blood of his victims. The first morning of killings was followed, never more than three days later, by more deaths. Deaths which came at intersections you recognized, at gas stations you’d filled your car up at, in parking lots you’d parked in. There was no telling who would die next – no segment of society was being spared.  And so, inside the first week, the mechanics and behavior of DC-area communities began to change.

High school football teams went through plays meant for games that had been suspended indefinitely on the lifeless floors and under the sterile lighting of a gym, instead of surrounded by the smells and memories of grass and dirt and grit that high school football is meant to anoint its followers with.  For weeks, the paths of children walking to school changed from careless and curious Family Circus-esque meanderings to the tactical and strategic zigzags of hardened soldiers operating in hostile territory.

Gas stations no longer enticed new customers by offering free carwashes or lower prices but by stringing up giant tarps in front of their pumps to keep you out of sight while you waited for your car to fill, still pacing behind the tarp in an effort to be a harder-to-hit moving-target. Sitting at a dead stop in your car during rush hour wasn’t frustrating, it was out and out terrifying.

You no longer walked your dog, you ran your dog.

And, in no discernable pattern and with no unifying link, the bodies continued to fall. After the first day of four shootings, a grandfather was followed by a mother-of-two who was followed three days later by a thirteen-year-old boy followed two days later by Vietnam vet. Then came a bus driver. Victims were shot at bus stops, at gas stations, in front of their schools, in parking lots, and inside a city bus. Schools kept the blinds closed in front of every window that had them and taped colored construction paper meant for art projects in front of the windows that didn’t.

Every traffic light seemed like the pull of a trigger in a game of automotive Russian roulette. Halloween pumpkins rotted in their patches, remaining unpicked because spending time bending over in an open field to find the perfect canvas for your jack-o-lantern would mean turning a class of 3rd Graders into a gallery of shooting ducks.

You only felt safe in your own home as long as the window you were standing in front of was shuttered from the evil lurking and killing outside of it. This was terrorism at its awesome finest.”

The one man and one boy team accomplished this with the bare minimum of resources, a handful of bullets, one sniper rifle, and a used 1990 Chevy Caprice purchased on the one-year anniversary of 9/11 as an intentional tribute to that day’s attacks.

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Comment » | current affairs, domestic terror, islam, racial inequality, terrorism

accidental guerrillas in our midst

July 10th, 2010 — 8:37am


(learn more about the book at the “Ask Me Anything” on Reddit)

After London’s suburbs were wracked by the worst riots in a generation after a young black man was shot to death by the police, it becomes even more obvious that any vague talk of an impending revolution of the “poor” in America against the “Super Rich” is overlooking one very obvious reality of our present demographics.

Maybe it doesn’t mean much to you that the average black family has eight-cents of wealth for every dollar of wealth owned by whites, that the the ongoing recession has doubled the wealth gap between blacks and whites, or that the unemployment rate of blacks is edging up on twice as high as the white rate – easily surpassing it when you count incarcerated blacks. After all, a black child in American is nine-times more likely than a white child to have a parent who’s locked up.

But let’s look into the data and the implications a little bit more, because no economic disparity is starker than the one that correlates directly with race.

The very idea of what it means to be poor is color-coded, as while 1 in 3 blacks live in poverty, less than 1 in 10 whites do.  Despite making up roughly 13% of the population, African-Americans only control one-point-three percent of America’s net financial assets.  And yet the very definition of poverty itself now varies to the point of absurdity, since “poverty level whites control nearly as many mean net financial assets as the highest-earning blacks, $26,683 to $28,310. For those surviving at or below the poverty level, this indicates quite clearly that poverty means one thing for whites and another for blacks.”

And as the real estate market crashed blacks have suffered much more severely than whites. Even when income and credit are controlled for, black families now have their homes foreclosed on and are on their way to being kicked out into the streets over three-times as often as white families.

The impact of these facts have echoed across generations, as nearly three-quarters of all black children grow up in homes with no net financial assets. That’s nearly double the rate of white kids.  And nine in ten black kids grow up in homes without enough monetary reserves to last more than three months at the poverty line if their income were to drop, roughly four times the white ratio.

Good thing our African-American population doesn’t have anything else to be ticked off about.

It’s hard to imagine a more poetic dichotomy than LeBron James furiously stroking his ego all over the national media during a one-hour ESPN special at the exact same time Oakland’s African-American community was threatening to begin a slow-motion implosion.  While every major news channel was busy fluffing LeBron, a jury lacking a single black member ruled that Johannes Mehserle, the cop who shot Grant in the back after he was called a “bitch-ass nigger” and while he was handcuffed facedown on the ground, was guilty only of involuntary manslaughter.

The legal equivalent of accidentally jumping a curb and running someone over with your car, admitting only that Grant is in fact dead and Mehserle’s reckless – but possibly accidental – actions lead to his death.

Folks in Oakland were, understandably, just a little bit unhappy.

Any outside element seeking to sow the seeds of dissension and unrest in America doesn’t have to squint too hard to see that there are potentially hundreds of thousands of other men who might be a little bit pissed off and a little bit predisposed to violence.

Men who have spent time in prison, have no jobs, no love for the police – and who might jump at the idea of killing a few of them. And the nation we’re currently engaging in a soft nuclear detente with is easily the most likely to try and take advantage of this situation, which was best illustrated by what Iran did at the very start of the Iranian Hostage Crisis. Right after they released all the women and children, they released one other subset of the hostages.

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