Blacks and Hispanics Hit Hardest by Recession

In the previous post we watched the video of an angry black man who claims only white people are racist.

In this article we find out some very likely facts...mainly that minorities suffered the most financial loss in the housing collapse and recession.

Anger and poverty have proven to be an explosive mix.

WASHINGTON (MarketWatch) — Blacks and Hispanics in the U.S. were the biggest losers in wealth during the recession, according to a study published Tuesday by the Pew Research Center.

The results based on an analysis of Census data revealed that the wealth gap between whites and the nation’s two largest minority groups have grown to their widest levels since the government began publishing such data a quarter century ago.

“The median wealth of white households is 20 times that of black households and 18 times that of Hispanic households,” the group’s researchers wrote.

As a result, the typical black household had just $5,677 and the typical Hispanic household had $6,325 in wealth, while the typical white household had $113,149.

Young Hispanics and blacks bought their homes near the top of the market and were hit hard by the drop in their housing values, said Timothy Smeeding, a University of Wisconsin-Madison professor who specializes in income inequality.

The study also suggested that white households are more likely to have benefited from the stock market rebound since 2009 than minority households because a “much higher share” of whites own stocks.

See it here;  http://www.marketwatch.com/story/black-and-hispanic-wealth-hit-hardest-by-recession-2011-07-26

Now of course we can have a discussion til the cows come home about why blacks in America are so poor...broken families, lack of fathers, no jobs, uneducated so easily taken advantage of, etc....  And the same discussion may apply to Hispanics as well.  It is all part of the Satanic world we live in and all part of humans sin nature.

But the Bible tells us that as the last days approach we can expect to see the rich getting richer and the poor getting poorer....and we can certainly see that all around us.  The Bible also tells us that in the last days people will generally be out of control, angry, brutal, perverted, disrespectful, lovers of violence, greedy, etc....   Now ask yourselves if you can see class warfare coming for America.  I'm not debating how the poor got poor and the rich got rich, I'm just saying to ask yourself if you can see class warfare and racial warfare coming for America.

I believe most Americans are clueless as to how close we truly are to internal unrest in this country.  We see it on the news everyday in Greece, Egypt, Syria, Spain, etc...and yet we assume in can never happen here.