Disastrous Irresponsibility

From Debt and the Racial Wealth Gap:

The most recent federal survey in 2013 put the difference in net worth between the typical white and black family at $131,000. That’s a big number, but here’s an even more troubling statistic: About one-quarter of African-American families had less than $5 in reserve. Low-income whites had about $375.

This is a disaster.

Is racism a factor? Sure – but that’s the lesser half of the story. As North notes, most Caribbean (or African migrants, I’d add)  who enter the U.S. today are going to earn a good deal more than $5 in their first few days at work in the country.

The NYTimes article is based on a recent Pew survey on ready money: cash you can quickly get in case of an emergency.

  • Income less than $25,000: Blacks have $5, and Whites $375 in ready money
  • $25,000 to $49,999: Blacks have $400, Whites $2,100
  • $50,000 to $89,999: Blacks have $2,000, Whites $6,000

Actually, I find even white savings to be quite small in relation to savings: a decent rainy day fund should be closer to half a year’s income, no matter what your race.

From Pew’s report, on the first page (footnotes removed):

In addition, recent research conducted by The Pew Charitable Trusts demonstrates that income alone, no matter how consistent, does not guarantee that households can accumulate a sufficient financial cushion to protect themselves from the unexpected. One in 3 American families reports having no savings at all, including 1 in 10 of those with incomes of more than $100,000 a year. This lack of savings tops the list of financial worries in many American households.

That bit about the $100,000 households without any savings is crazy!

North’s article on the subject is “When People With No Reserves Get Evicted” and the subtitle is “There will be millions of them in the next recession….” A lot of families, black and white, are going to get smashed in the next recession/depression. And all that upper-class ‘race blindness’ is going to burn away, just like that, when food money is on the line.

And then we face the next decade or two out, as the welfare system dries up and blows away, and the Establishment tools for controlling Black America crumbles and fails.

It’s most likely that the police (increasingly defunded by a bankrupt government) will pull back to defend their own families and neighbourhoods, and the fires will burn out as everyone looks out for just their own homes and counties: but the death of the American Empire may not be nearly as graceful and peaceful as the end of the Soviet Empire.

I’m quite confident that serious Christians from all races can hammer out a Mosaic legal system, permitting safe travel & trade (and a rebirth of both self-government and prosperity) between the successor local governments: but that’s a distant goal, and there’s going to be a lot of pain getting from here to there.

As for Western Europe and China… that’s a tale for another day.

Preferably told from a great distance.

North recommends that Christians learn to tithe: always give 10% to your church. When you get used to doing this, it’s a lot easier for believers to stash another 10% – 40% of your income as savings, to eventually to a small business. This system to recapitalize Christian society will work for both whites and blacks, building wealth while teaching a future-oriented viewpoint.

Getting & keeping a job, graduating from high school – preferably from a home school – and getting & staying married also helps to build a society, regardless of race.

And there you have it: a simple, yet doable, way to finance the rebuilding of America, after all that costly welfare-warfare Establishment lying nonsense has run it’s course.

I wonder if all those vocally devout Black American Christians will actually do what God says, and reap the benefits, both now and in future generations.

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