“The Recession’s Racial Divide”
15th September 2009
Steve Sailer, voice of the actual reality-based community, is always worth reading.
So, maybe importing so many millions of foreigners from 2000 to 2007 to “do the jobs [African] Americans weren’t willing to do” wasn’t such a hot idea after all? Well, don’t ask Ms. Ehrenreich about immigration. She evidently has no opinion on the subject, since it doesn’t come up in her long spiel.
In other words, blacks weren’t as good credit-risks on average, even when incomes were the same. So, why, then, four decades of government effort to change the culture of lending in order to get more mortgage dollars into the hands of minorities? Maybe the old culture had a more accurate view of the creditworthiness of blacks than the new government-nurtured culture?
It’s like Ptolemy’s complex system of epicycles intended to “save the appearances” of the theory that all planetary orbits were perfect circles. Our era’s Ptolemaic theory is that minorities can only be victims of discrimination, not beneficiaries of discrimination, so the only logical solution is that all those blacks who defaulted on their subprime loans were victims of discrimination: see, they should have gotten prime loans!