mjh's blog

Rich White People Still Doing Well

FresnoBee.com: Nation: Study: Recession widened racial wealth gap

The enormous wealth gap between white families and blacks and Hispanics grew larger after the most recent recession, a private analysis of government data finds.

White households had a median net worth of greater than $88,000 in 2002, 11 times more than Hispanics and more than 14 times that of blacks, the Pew Hispanic Center said in a study being released Monday. …

Only white homes recouped all their losses between 2001 and 2002. Both Hispanics and blacks lost nearly 27 percent of net worth between 1999 and 2001; the next year Latinos had gained almost all back (26 percent) though blacks were up only about 5 percent.

Does this have more to do with the supposed recession or Bush economic policy? mjh

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