A new study of the census data shows that median net worth of Whites is 20 times that of Blacks and 18 times that of Latinos. You heard that correct. Between 2005 and 2009 median wealth fell by 66 percent in Latino households and 53 percent in Blacks. Yet among White households, that number fell only 16 percent creating the biggest net wealth differentiation in over a quarter of a century (http://bit.ly/rodebN).
If that was disturbing enough, it would make sense to add fuel to the fire. Ferrari announced today that global sales are up 11.8 percent from 2010 and 23.9 percent in the United States alone.
For the period ending July 31, 2011, Tiffany and Company saw net profit rise 19 percent (67.7 Million vs. 56.8 Million at this point last year).
Ok, show of hands, who is a little upset with the way things are going right now? Don’t be shy.
Today, we voted to raise the debt ceiling…Everything solved, yet the Dow Jones fell 2.3% and fell under 12,000. Hmmmm, that is unusual. Could it be because consumer spending is falling and manufacturing is at its lowest production rate in over two years. Oh yes, let us not forget that the unemployment rate is still at a staggering 9.4 percent.
Wait, there is more. Christie Auction House reported taking in 3.2 Billion Dollars for the first half of 2011 helped by a single Warhol piece that fetched 38.4 Million (http://bit.ly/rot9II).
New Home sales are down, durable goods production/sales are down, foreclosures continue to be steady or on the rise, food prices and gas prices are on the rise and every day middle to low income families are looking for answers.
Any thoughts or suggestions to ease the minds of those that are struggling to just stay above water?
At least Apple has as much operating cash to play with as the US Government as of Friday. No reason to fret about that since that money is offshore right now.
This is not meant to make you mad or even want to seek revenge. It is a reality, not one much different than realities of the past, but the life we are born into. We are a part of the circle of life that is continuously evolving. Is there a resolution? Is there even a problem? The beauty of debate is that there is justification for both sides.
Fair and equal treatment for all or survival of the fittest…Makes you wonder.
I can sit back and tell you things will get better. With patience and perseverance you will overcome this adversity and be stronger for it. You and I know that words won’t correct this hole that seems to be getting deeper and deeper. We are in unprecedented times. US population growth was 9.7 percent in the last decade and with increased population, increasing inflation and reduction in jobs, you don’t have to be a PhD economist to see where this is going.
There is a chance we will come out of this stronger. It is a long term investment in our future, but one that could help future generations to come. We need to see passed the greed and the gluttony and look to a time when brotherhood was the only world we knew. We struggled for hundreds of years to create a country that has now become the most powerful nation in the world. Yet, 250 years later, we are on the verge of destroying everything we worked so hard to achieve.
It is an individual choice. The answer isn’t war, hatred or jealously. The answer is compassion. Compassion for the poor, for the rich, for the content and for the struggling. Some of the biggest fears many of us face right now is life adjustment. We have grown accustomed to a way of life and now that has changed. Change is good. It isn’t about money, luxury or comfort. It is about the truly meaningful things in your life.
If you house burned down today, you will move on. All the material items would be gone, but in time a new life will be set for yourself and your family. Look at life that way. Each day should be viewed as a day of new potential.
Challenge yourself to accept change and do your part to make this a better place.
The solution will never be one single group event but a series of individual encounters that will collectively show signs of improvement….