I don't think there is any great mystery here. The middle class is not exactly bursting with cash in general. As the article noted, with less history of middle class income in their families, and therefore fewer resources to call on in time of need, blacks have a tougher time riding out bumps in the economic cycle and other life events like job loss or serious injury. The constant drum-beat of spending in our consumer society has pushed the middle class farther and farther into the red, and black families are in a tougher position from which to dig themselves out. I think the article glosses over the issue of discrimination, which is still a real issue, though certainly not like it was forty years ago.
On Nov 27, 2007 11:36 AM, Gruss Gott wrote: > SOME black Americans are doing very well. Barack Obama is pulling > ahead of Hillary Clinton in Iowa. Tiger Woods is the world's best-paid > athlete. Stan O'Neal was given a $160m golden parachute as he was > ejected from Merrill Lynch last month. But these exceptional folk are > indeed exceptional. For members of the black middle class, the news is > gloomier. New research suggests that their grip on affluence is > precarious. > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| ColdFusion is delivering applications solutions at at top companies around the world in government. Find out how and where now http://www.adobe.com/cfusion/showcase/index.cfm?event=finder&productID=1522&loc=en_us Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:247073 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
