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Black Americans Not Getting Good Financial Advice

 

by TEWire
Special to the Trice Edney News Wire from the Afro American Newspapers
Originally posted 4/27/2011

Only two out of every 10 African-Americans are on a path to achieve their retirement goals, according to a six-month-old survey of Blacks conducted by a major wealth manager.

 

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McJobs Are Not the Cure for An Ailing Economy

Editor's note: Annette Bernhardt is policy co-director of the National Employment Law Project, a national advocacy group for the rights of lower-wage earners. She was lead researcher on NELP's recent report, "A Year of Unbalanced Growth: Industries, Wages, and the First 12 Months of Job Growth After the Great Recession."

(CNN) -- We are starved for signs that the economy is picking up. So when McDonald's threw its doors open to hire 50,000 workers nationwide, media networks scrambled to film applicants lining up across the country for that increasingly elusive piece of the American dream -- a job.

A Black Prof Discusses Racial Bias in Financial Decisions

Your Black World reports

Have you ever tried to get a loan, and felt that you weren’t being treated the same as if you were white?  What about watching that promotion at work being given to the white guy down the hall when you were the one slaving night and day for 20 years?  Well, this feeling is not uncommon.  A recent survey at YourBlackWorld.com showed that nearly 90% of African Americans feel that they’ve experienced some kind of discrimination in the workplace.  In spite of our having a black president and attorney general, new laws have not been introduced to help people of color fight discrimination in the workplace.

Another prominent type of discrimination is the racial bias in other kinds of financial decisions.  Millions of black people were victims of predatory lending during the recent financial crisis, leading to a massive decline in black family wealth over the last decade.  Additionally, the ability to build a business, get government contracts or do other things to create financial security for your family can be impacted by the color of your skin.  Prof. Stephanie Yates Rauterkus at The University of Alabama Birmingham speaks on the topic in the video below.

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Deborrah Cooper Explains What It Means for a Woman to “Submit” To Her Man

 

by Dr. Boyce Watkins, Your Black World

Given the importance of the critical theme of black relationships (which we’re hitting from various angles this week on YBW), I had to get another perspective on some of the things that folks are quoting from the bible as it pertains to how black relationships need to be structured.  What does it mean for a black man to “lead” in his relationship?  What does it mean for a woman to “submit?”  One thing that many of us can agree on is the fact that black relationships have been falling apart for a very long time.  The majority of our homes are being run by a single parent, and far too many children are growing up without their fathers in shouting distance.  What some don’t acknowledge is that there is a direct correlation between the break down of the black family and the growth of the prison industrial complex.  Locking up men for decades for the sale of drugs that were brought into our communities has devastated many of us, and urban decay in the 1980s led to job losses with few viable alternatives to illegal activity.  A recent study in The Economist showed that a one percentage point increase in the incarceration rate leads to a 2.4 percent decline in the percentage of black women who eventually get married.

 

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