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Study finds median wealth for single black women at $5

Discussion in 'Political Discussion' started by Holy Diver, Mar 10, 2010.

  1. Holy Diver

    Holy Diver Rookie

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    Read more: Study finds median wealth for single black women at $5

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    Among the most startling revelations in the wealth data is that while single white women in the prime of their working years (ages 36 to 49) have a median wealth of $42,600 (still only 61 percent of their single white male counterparts), the median wealth for single black women is only $5.

    Read more: Study finds median wealth for single black women at $5

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    This CAN'T be accurate...5-bucks?
  2. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    God Damn White Bastards, what can we do to help out in this situation, why is this happening--------:confused:
  3. Michael

    Michael Moderator Staff Member PatsFans.com Supporter

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    #12 Jersey

    What's Aunt Zuchinni's net worth? :confused2:


    "So that gives you an idea of how far in debt some women of color are."
  4. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    Aunt Zucchini is still trying to get an invitation to a White House dinner and I bet it won't be long before she does, she'll look great sleeping in the Lincoln bedroom, after dinner she can dance with Windbag Biden........:rofl:
  5. Holy Diver

    Holy Diver Rookie

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    $12.5 million as of 2008...

    en.wikipedia.org/wiki/Nancy_Pelosi
  6. BelichickFan

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    #24 Jersey

    At least they have enough for lunch . . .
  7. Holy Diver

    Holy Diver Rookie

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    yeah....once.
  8. Mogamedogz

    Mogamedogz Rookie

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    #80 Jersey

    Fixed that 4 u. :)
  9. BelichickFan

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    #24 Jersey

    Well when they go to work and make a little more money they can buy lunch again.
  10. Holy Diver

    Holy Diver Rookie

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    Thats what I can't really grasp, the 5 bucks is for the average of single black women for the entire YEAR?.....that cant be true?
  11. BelichickFan

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    #24 Jersey

    It's not median income, it's median wealth, i.e. what the own minus what they owe. So if they owe $5K on a car that's worth $2K that counts as $-3K of wealth.

    In case you're wondering, yes I think this is funny that an entire group of people can be so pathetic. Although I heard the NY high school dropout rate was an all time low last year so that's a start.
  12. Holy Diver

    Holy Diver Rookie

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    Okay, that what I figured.

    I have the docu-comedy "Good Hair" on the way from Netflix, it by Chris Rock and its about how much $$$$ African American women spend on their hair. I was shocked at how much money African American women spend on their weaves etc.

    YouTube - Good Hair ft. Chris Rock- HD Official Trailer

    creamy crack
  13. Real World

    Real World Moderator Staff Member

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    If you live check to check, and don't own anything at all, what is your net worth going to be? Try virtually nothing. My net worth when I got out of college was negative $7,000.

    Anyhow, it's explained in the article. As are the people who contributed to the report.


    With a name like that, I would apply a little salt to their results. Regardless, net worth is meaningless in a sense, because a person could make $150k per year, but have a net worth of zero, or in the neg.


    If you have a mortgage, then the balance owed would be considered a negative, or liability. The flip side of that is the value of the home. For example, you buy a house, it's worth $400k, you have a mortgage of $300k, which would then give you a net worth of $100k from your home alone. Now, anyone who purchased a home in the last 5+ years, is likely under water on their mortgage. So their situation would be a $300k mortgage, on a home worth $200k, so they'd have a net worth of negative $100k. Ouch!
  14. Stokes

    Stokes Rookie

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    Well I think they're talking about wealth, not income, so those in debt will count as negative numbers.

    edit: sorry, I didn't see that this was covered already.
    Last edited: Mar 10, 2010
  15. Mrs.PatsFanInVa

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    #11 Jersey

    Do you think that maybe it's because they accept social responsibilities and care more about what's important than other entire groups of people?

    In a 2008 study of black women and their money, the ING Foundation found that black women -- who frequently manage the assets of their households -- financially support friends, family and their houses of worship to a much greater degree than the general population.


    Read more: Study finds median wealth for single black women at $5
  16. PatriotsReign

    PatriotsReign Rookie

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    .........and?

    This is the kind of statistic most people would think....

    "So what?....and?"

    What is your point?

  17. BelichickFan

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    #24 Jersey

    Any maybe it's because they need to. For example, I would statistically not financially support friends or family - because no-one in my family dropped out of high school or had a kid at 16, etc. If my sister were in dire straits I imagine I would help. She isn't so I don't. That's a piss poor statistic right there.
  18. Mrs.PatsFanInVa

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    #11 Jersey

    Yep, right...I suppose giving a portion of your income to your church is out of the question, too.

    Just as an aside, I was telling MRPFnV about this thread and these statistics and I told him what I'd said and he pretty much quoted word for word what the response was going to be....thanks a lot, BC, you have no idea of the bet we had riding on it. I can't believe I'm going to have to do this.....
    Last edited: Mar 11, 2010
  19. BelichickFan

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    #24 Jersey

    I don't believe that they do. I don't personally go to church but everyone who does gives money, maybe less as a percentage if they have almost nothing.

    You have no idea what a turn on it is to be affecting your sex life like this :D
  20. Mrs.PatsFanInVa

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    #11 Jersey

    You'd be wrong....

    While the rich do give more in overall dollars, according to the Social Capital Community Benchmark Survey, people at the lower end of the income scale give almost 30 percent more of their income.

    Many researchers told us lower income people give more because they think they are more likely to need charity or know someone who needs charity.

    And what about the middle class? Well, while middle-income Americans are generous compared to people in other countries, compared to the rich and the working poor, they give less. "The two most generous groups in America are the rich and the working poor," says Brooks. "The middle class give the least."


    Who Gives and Who Doesn't? - ABC News

    But damn it, it was double or nothing you'd reply the way you did to the betting situation and he called that one correctly, too.

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