The nation’s economic news is grim indeed, and is the grimmest of all for black Americans. Recently released census data shows that while the median yearly income in this country is $50,000, it is only $32,000 for black people, the lowest of any other racial group in the country. Hispanics had a median income of $37,000, whites $49,000 and Asians $64,000.
Simply put, black Americans are at the absolute bottom of the economic heap in a county still teetering from the effects of a seemingly endless recession. The term recession is something of a misnomer because it does not adequately describe the worldwide crises endemic to capitalism. As western nations take their citizens on a dizzying race to the bottom with various austerity measures, the fate of people already on the bottom grows more precarious by the day.