For decades, the political world and it’s minions have profited off of the myth that Black folks are poor, beat down, and broken. While poverty rates tend to be a bit higher in minority communities, starting from OUR own media we tend to look over our steady economic growth. While I can appreciate people like [...]
Prior to Obama, then president Clinton defined “wealthy” in this country as someone who makes at least $250,000 per year. As far as I knew, that applied to ALL Americans. So why am I seeing headlines this morning that are suggesting a lower number for Blacks?
Sphere: Related Content
White men in suits “wasting” government money by getting retention bonuses (AIG) is not only bad, but should be taxed at a 90% rate to get the money back.
But…
A “community organization” made up largely of poor non-Whites instructing folks how to side-step the law and routinely found guilty of voter fraud gets roughly 8.5 billion [...]
WASHINGTON – (AP) Millions of older people face shrinking Social Security checks next year, the first time in a generation that payments would not rise. The trustees who oversee Social Security are projecting there won’t be a cost of living adjustment (COLA) for the next two years. That hasn’t happened since automatic increases were adopted [...]
From the Real Clear Politics article “Get Ready for 14 Percent Unemployment”.
Like the Bush administration before it, the Obama team is pinning its hope for economic recovery on “stimulus”. Despite the fact that Bush’s $168 billion stimulus package in early 2008 had no impact at all, Obama rammed a $787 billion stimulus bill through Congress [...]
Here’s another air ball.
“On the other hand, the Social Security Administration continues to send out monthly checks to 35 million retirees and their spouses, 9 million disabled workers and their families, and 6 million families whose breadwinner has died. In other words, the government system has proved to be much less fragile than the private [...]
Okay, walk with me on this for a minute.
Who is Jeff Immelt?
“He is the current chairman of the board and chief executive officer of the U.S. based conglomerate General Electric. He was selected by GE’s Board of Directors in 2000 to replace John Francis Welch Jr. (Jack Welch) following his retirement. Previously, Immelt had headed [...]
WASHINGTON (AP) — A senior administration officials says President Barack Obama is ready to ask federal department and agency chiefs to find $100 million to cut from the budget when he holds his first formal Cabinet meeting. (more…)
Here’s your slice of perspective, sir.
Cost of stimulus bill: $787 billion
Total cost of stimulus bill (with interest): $3.27 [...]
From washingtonpost.com.
During an expansive Q-and-A session with Morehouse students after his speech, Bernanke was asked about the household wealth gap between whites and blacks in America.
“It’s absolutely right the difference between minority and white wealth is very significant, and part of that is related to income levels where whites have a higher average income,” Bernanke [...]
Thx Keith for the heads up.
From the NY Times
China Urges New Money Reserve to Replace Dollar
SHANGHAI — In another indication that China is growing increasingly concerned about holding huge dollar reserves, the head of its central bank has called for the eventual creation of a new international currency reserve to replace the dollar.
In a paper [...]
July 2, 2008
McCain Dogged by Economy Comment
abcnews.com
Sen. John McCain’s comment from last year that he doesn’t understand economics “as well as he should” has dogged him all the way to South America today during a foreign trip meant to burnish his standing as a presidential candidate ready to be a world leader.
[...]
The original remark that [...]
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