When you put all the fathers in jail and women making less than men are supporting the children, you stay poor. With welfare reform it seems to have gotten worse post crash. Yay!!!

nowhere near gained it back.

The system is set up for something, that's for sure. And blacks have kept losing net worth, even post-recession -- which distinguishes them from other racial groups.

I wonder how poor whites are doing right now. Probably horrible since the reforms hit them just as hard.

the deeper we sink *sigh*

Things are getting harder for everybody. Well, you know what they say, 'poor white is the new black!"

when you take out the 1%? Know it still exists, but how much small?

That means it isn't as vulnerable to outlies. Median means that 50% of the group have more and 50% have less, it is a better measure for things like wealth where you have enormous outliers.

The bottom half of the world’s population owns the same as the richest 85 people in
the world.

Median analysis of wealth provides an accurate picture of how the typical person is doing.

Given, the purpose of the article was not to gauge wealth disparity. It was to compare what the average white person and what the average black/hispanic person has. To do that they used the perfect measure of central tendency.

There are a million articles that mention wealth disparity. Go make a thread about one, don't complain that one about the typical wealth of the typical member of certain races doesn't also demonstrate something you feel is important (and would be impossible to demonstrate at the same time as talking about the thing that was, ya know the point of the article).

The person wondered what the picture would look like if you took out the 1%, my answer was exactly the same because Median isn't skewed by outliers (that is why you ask for the median salary when apply to a company, not the avearage that is skewed massively by CEO, you want to know what the middle of the pack people make).

The problem I have with economic models. They pretend that they have assumed all the variables necessary in their models which don't represent reality, and then when it fails someone is hurt.

The reason joe white and joe black have such disparate lives is precisely because of the inequality - those 85 people make the choices for the rest. They buy politicians and tell them to keep the wealthy healthy and that will be good for all of us, yet over 10 million people, black and white and all colors, have fallen into poverty just during this administration. These stats smooth it out, make it look invisible.

It's somewhat like pretending racism is a thing of the past to pretend that the inequality between rich and poor has nothing to do with the inequality between black and white, or anyone else.

suggests that it has to do with one's largest asset - usually a home. But if you are a renter, then about all you have as an asset may be a car. And of course the housing crash wiped out too many black homeowners - particularly those targeted with predatory loans (which were rampant in urban areas).

above is just squabbling among the serfs, ignored by people with real money.

Here.

Would be interesting to take the 1%, since they are fucking everyone regardless of color - out of that mix and see what it looks like.