Extra Extra, Read All About It!!!

Yesterday, two very interesting pieces of news were brought to my attention – it’s almost as though, when people think black, they think blacktress. Seeing as I’ve been waiting for this kind of power for years, I take no offense to such an association.

Let’s start with the bad news first. This bit of news actually came from my former boss—we still K.I.T like two friends from summer camp. I think the best part is that he provided no commentary whatsoever. He just emailed me an email with the subject line "wow," and posted the link below:
Study finds median wealth for single black women at $5

Y’all, we need to get this straightened out – seems like we’re still making slave wages!! Sojourner can’t handle this truth in 2010, recession or not!

For those who aren’t up for the reading, here are some highlights from the article:

For all working-age black women 18 to 64, the financial picture is bleak. Their median household wealth is only $100. Hispanic women in that age group have a median wealth of $120.

"That means half of [black women] have a net worth of more than $100 and half have a net worth of less than $100," Ms. Lui said. "So that gives you an idea of how far in debt some women of color are."

Married or cohabitating white women have a median wealth of $167,500.
Married or cohabitating black women have a median net worth of $31,500.


In a 2008 study of black women and their money, the ING Foundation found that black women -- who frequently manage the assets of their households -- financially support friends, family and their houses of worship to a much greater degree than the general population.They also are more likely to be employed in jobs and industries -- such as service occupations -- with lower pay and less access to health insurance.

"If wealth was based on hard work, African-Americans would be the wealthiest people in our nation," she said. "It's not about behavior. It's about government policies. Who does the government help and who is it not helping?

The huge disparity between the median wealth of cohabitating/married black women and cohabitating/married white women is particularly interesting, especially hot on the heels of this unofficial experiment conducted by a strong black women on a popular online dating site. She explains it in greater detail on her blog, but basically, she set up two profiles that were identical in terms of content (favorite movies, job, interests, etc), only one profile had her own photos, and the other featured those of a perky Caucasian friend. Needless to say, the responses were very different. Although we all have preferences, and the inherent “racism” of potential suitors is certainly up for debate, the one curious finding was this:
The fellas who were down with the brown weren’t down with the ejumucation. She notes:

Erin’s (fake girl’s) dudes are rocking the shit out of higher learning. 7 have Master’s degrees. There’s a frigging DOCTOR trying to get a piece. Her least educated suitor is currently in college.

More than half of my suitors didn’t finish or never even attempted college. 3 didn’t even bother listing their education level which can not be a good thing.

Even in the online world, the only men trying to get a piece of a strong black woman are unable to ultimately provide a lifestyle that could close the large income gap this article acknowledges.

WHAT ARE WE TO DO????

Okay, y’all, that was a little Thursday morning truth. Maybe not funny, but we all need to note these hot messes.
I’ll put the good news in my next post.