Monday, June 15, 2015

African Americans Need to Borrow More to get a College Education and have Less Wealth to Do So!

Almost 50 years after the first huge riots by black Americans in our nation's cities, the widespread disinvestment in their communities by private and government investors in jobs and fostering economic growth and opportunities continues. It's time to ask the hedge fund Kings and Queens, the Fortune 500 CEOs and President Obama and Congress: So What Are You Going to DO About NOT investing in generations of Black Americans for decades and decades? Wait another 50 years or more? NOT acceptable!

(Old) news is African Americans owe more in student loans than most White Americans. And the following is not that much of a revelation - even in 2015 - either:

"But since the focus on racial disparities has been largely focused on income rather than wealth, few people are aware of just how massive the wealth gap is between Black and white citizens. While the median net worth for white households in 2013 soared beyond the $140,000 mark, the median net worth of Black households remained at a shockingly low $11,000, according to the Pew Research Center. That gap, combined with the racial disparities in obtaining an education, is exactly why Bergeron says true equality in America hasn’t been seen.
“We have used expected higher education as a social equalizer in the United States,” he added. “If there are gaps by race or ethnicity … then it can’t fulfill that mission.”  

Read the entire story, 'New Study Shows Disparities in Student Loan Debt Are About More Than Just Income, It’s About a Lack of Black Wealth,', June 14, 2015 | Posted by , at: http://atlantablackstar.com/2015/06/14/new-study-shows-disparities-student-loan-debt-just-income-lack-black-wealth/
-and order and read Economist William K Tabb's important book, THE POLITICAL ECONOMY OF THE BLACK GHETTO, to learn more:

Political Econ Black Ghetto by Tabb K William (Oct 17, 1970)

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