Whites to Become a Minority in the US by 2050

The US is projected by Pew Research to have a minority white population by 2050.  Already white births are in the minority.  This change is projected primarily because of  high Latino immigration and the high fertility rates for that group compared to whites.  Blacks are projected to remain at 13% of the population while Latinos will rise to 29% from 14% now.  Asians are projected to increase from 5 to 9 percent of the population. All of these are projections of current trends.

From Reuter's "Whites to become Minority by 2050"

The U.S. population will grow to 438 million in 2050 from 296 million in 2005 if current population trends continue, the Pew Research Center study found.  Non-Hispanic whites would account for 47 percent of the total in 2050, it concluded.

By that time, one in every five Americans will be a foreign-born immigrant, compared to one in eight in 2005.

"Of the 117 million people added to the population in this period due to the effect of new immigration, 67 million will be the immigrants themselves and 50 million will be their U.S.-born children or grandchildren," the study said.

While the white population, with its lower fertility rate, ages, the Latino population, the nation's largest minority, will triple in size. Latinos will be responsible for 60 percent of the population growth until 2050.  They will account for 29 percent of the population, or 128 million in 2050, up from 14 percent now, the study said.

"The number of whites will increase, but only by 4 percent," said D'Vera Cohn, one of the report's authors.

The Asian population will almost double in percentage terms, from 5 to 9 percent, while blacks will remain around 13 percent of the total, the report said.

This country's collective IQ will decline somewhat when the proportion of whites declines.  This isn't racist, it's just math. Latinos and blacks are reported to have median IQs of 89 and 85, respectively.  It doesn't sound like much, but even slight changes of the nation's median IQ means significantly less persons in the "gifted" range and a significant increases of those in the "intellectually deficient" range.  For example, the black population in the US with a median IQ of 85 (and a standard deviation of 13) has about 50 times less gifted persons (IQ greater than 130) as a percentage of the population than whites.  In a similar way, the relative number of deficient and severely deficient is much higher.

Both groups have very high and persistent secondary school dropout rates upwards of 40 to 50% and both populations have shown themselves to "fall" for populist politicians with detrimental consequences in their native continents and countries.  For example, name one prosperous African country. There aren't any! Most are in collapse. 

As we become more Latino and Black, expect this country to look more like Africa and South America.  Think of Detroit as a piece of Africa in America (or Memphis or New Orleans) right now. These groups, on average, can't hold a candle to the cultural and intellectual success of the Northern Europeans who founded the USA.

US Stock Market Is Expensive

It's no wonder the US stock market is running into trouble this fall.  Revenues and earnings guidance are now under pressure. Some 80% of S&P 500 companies, that have given forward guidance this quarter, have given negative guidance.  Meanwhile every market "expert" is still projecting strong earnings growth next year despite the fact that the Fed will remove the "juice" of QE in the coming year. These prognosticators are expecting stronger economic growth next year, but it looks unlikely to me.  Removing QE will probably trigger the next profits recession, since the expansion of the Fed's balance sheet is highly correlated to the rise of corporate profits.  Some say that the Fed can never remove the "juice" now.

From my blog Jeremy Grantham's Expected Market Returns-Next 7 Years, Grantham says that expected real returns for US stocks are now negative for the next 7 years:  meaning that US stocks are expensive.

From Mebane Faber Research, they point out that corporate earnings always revert to the mean and that to ignore the CAPE (the cyclically adjusted PE or Shiller PE) is to do so at your own peril.  (CAPE is the current S&P 500 price divided by the 10 year earnings average.  It's supposed to smooth out peaks and valleys to give a long term view of market valuations.)

The market's current Shiller PE (CAPE) is 23.7 which is above the long term average of 16.5.  By this measure, you could say that the market is overvalued by about 40%.

Furthermore, compared to some 40 investable markets, the US is 2nd most expensive market now. From Mebane Faber Research:

There are well over 40 investable countries in the world, why just settle for one?  We have shown numerous times that selecting countries on a relative basis on CAPE works great to not only pick winners, but also to avoid the bubbly losers.  And according to CAPE, the US is the second most expensive market we track right now…and according to 1 year PE, it is the 4th most expensive…and according to P/B…etc

If you do a composite across 10PE, 1PE, FCF, P/B, and dividends…the US is still the 4th most expensive…

Corporate Earnings Always Revert to the Mean

It's hard to remember at a market top that corporate earnings always revert to the mean.  Earnings are very volatile!  They go down in recessions.  Check out this chart from Mebane Faber Research showing the cyclic-ality of  corporate earnings.  Notice how European corporate profits are double-dipping now.

 Profits Always Mean-Revert: US and Europe profits Vs Their 10 Year Moving Average

From that same article, they quote SocGen as saying:

At the peak of the cycle, when profits are far above average and the economy is doing well, it is hard to imagine earnings collapsing back below the average, as it is to imagine a depressed region recovering. Mean-reversion in earnings, though sometimes delayed, is as undeniable as the economic cycle itself. Cyclically adjusted (or trend) PE calculations will always give a conservative valuation estimate. But that is exactly the point of valuation – to offer a degree of safety (a margin of error) and to smooth the dangers of the economic cycle. That peak profits typically accompany peak valuations only reinforces the point.

Here's a chart showing how earnings volatility appears to be increasing. It also shows how we get short-sighted our thinking is. In short, the business cycle is not dead! From TheShortSideofLong blog:

T

The Corporate Earnings Cycle 'Amplitude' Appears to Be Increasing

Another chart showing the 'swings' in S&P 500 Earnings from Crestmont Research:

S&P 500 Reported Earning and the Shiller PE

Get ready for some fireworks in the years ahead.

Economic Freedom Declining In US

Economic freedom brings prosperity.  Conversely, loss of economic freedom brings lower prosperity and poverty.  From Investmentu.com

There is a strong correlation between economic freedom and prosperity. Countries with the highest level of economic freedom have the highest level of per capita income. And vice versa. Nations with severe restrictions on investors, businesses and consumers struggle financially.   Note that the more economic freedom a nation enjoys, the higher average per capita income goes up.

What comprises economic freedom and how do you measure it?  Heritage Foundation measures it by quantifying four major categories (and ten subcategories) as follows:

1. Rule of Law:  Freedom from corruption, property rights
2. Limited Government: Tax rates on individuals and businesses, government spending as a proportion of GDP, 
3. Regulatory Efficiency:  Labor freedom, monetary freedom, business freedom
4. Open Markets: Trade freedom (absence of tariffs or other barriers), investment freedom (ease of capital movements), Financial freedom (financial sector's independence from government control or influence)

Economic Freedom is Highly Correlated to Economic and Income Growth

From an article in National Center for Policy Analysis, they summarize the benefits of high levels of economic freedom.   Here's the advantages of freer economy: 

1. Freer economies grow faster
2. In freer economies, people have higher incomes
3. Freer economies attract more investment
4. Helps reduce poverty (proving that a rising tide lifts all boats)
5. Income distribution is better in freer economies
6. People live longer
7. Freer countries are more democratic
8. Higher well-being of it's citizens

 

How is the USA Doing?

The USA has had declining economic freedom since year 2000. From Zero Hedge,

The ranking of the US has fallen precipitously; from second in 2000 to eighth in 2005 and 19th in 2010. By 2009, the United States had fallen behind Switzerland, Canada, Australia, Chile, and Mauritius, countries that chose not to follow the path of massive growth in government financed by borrowing that is now the most prominent characteristic of US fiscal policy. By 2010, the United States had also fallen behind Finland and Denmark, two European welfare states. Moreover, it now trails Bahrain, the United Arab Emirates, Estonia, Taiwan, and Qatar.

The US economic freedom index keeps dropping after year 2000.  The graph below shows 7.70 for 2010 but it has continued it's decline.  On another economic freedom index, the US has gone from 2nd in the world in 2000 to 18th in 2013.  Notice that decline has occurred during both the Bush and Obama years.  As economic freedom fell,  economic and personal income growth has stagnated, and in the case of real personal income, has declined.    It's no coincidence.  We know Bush was a big spender and there was a curtailment of freedoms after the 9/11 attack. 

Here's a graph of US performance in economic freedom rankings:

Do you think Obama really wants more economic freedom?  Not a chance.  He's all about Stat-ism and big government.  He has only tired old ideas that have been trounced by the lessons of history and the  ideas presented in this blog.  His formative years were spent in Indonesia and Kenya, who rank 76th and 78th, respectively, in the freedom index.  So, he never learned the lessons that Eastern European countries learned under communist systems and are now enjoying strong economies after the end of the cold war.  Obama consistently proves resistant to learn anything that conflicts with his world view.

Much of Europe is seeing improving economic freedom, especially in the Baltic states, Eastern Europe and new members of the EU.  They have improved levels of economic freedom and a corresponding increase in growth rates and income growth.  They have thrown out the tired old central planning model that Obama is trying to adopt!

From The Center For Individual Freedom reports in their release of 2013 economic freedom rankings that:  

A majority of European nations, chastened by big-government experience, actually improved to their highest economic freedom scores ever in this year’s Index. Under President Obama, however, we continue down a path that Europe is gradually abandoning. Alongside Ireland, the U.S. is the only industrialized nation to have regressed for five years in a row.

Economic Freedom Map and Rankings of Countries

(Click to enlarge)

 

Financial Crisis 'Skyscraper' Indicator Points to China

In my blogs Worldwide Financial Bubbles Beginning to Burst? and Financial Crisis Coming to China?, I point out the fact that debt in China has rocketed to levels that preceded financial crises in other countries.  It's the rate of debt increase in China that's the truly amazing feat achieved through "central planning."

It's not just the debt level that tends to precede financial crises, but the country with the tallest skyscraper, interestingly, tends to have next financial crisis.  These grand projects are good indicators of easy money and high investor confidence that usually precede a bust. 

Here's a graphic from Forbes summarizing evidence for the skyscraper indicator (click to enlarge),

Right now that indicator is clearly pointing to a financial bust in China.  The article goes on to say:

Skyscrapers are inherently speculative ventures, in that they are rarely, if ever, built by their intended occupants or with committed tenants. “Build it and they will come” captures the prevailing spirit. Thus you can think of the world’s tallest skyscrapers as indicators of lofty overconfidence. Second, because speculators rarely build such structures with their own money, skyscrapers are powerful evidence of “easy money.” Accepting the importance of these two variables in creating a fertile context for bubble formation, skyscrapers are actually a spectacular indicator of bubbly conditions.

According to Skyscraperpage.com, five of the 10 tallest buildings now under construction are in China. By 2015 the website estimates that Chinese skyscrapers will occupy spots Nos. 2, 3, 5, 9 and 10 of the tallest buildings in the world. Might the booming Chinese economy be susceptible to a bust?

Trumped-up Trial Leaves Zimmerman Bankrupted

The trial, that was never supposed to happen, has financial fall-out for all participants that most people don't think about.

The Zimmerman trial itself was the result of a phony race-baiting exercise and uproar by discredited black leaders---including Obama----who demanded that the State of Florida prosecute (and persecute) George Zimmerman despite the fact that the local jurisdiction didn't see a case worth prosecuting.  See my blog The Failed Political Prosecution of Zimmerman.  It was a Kangaroo trial set up in an attempt to impose a sort of "mob justice" trumped-up in part by the President himself and backed up, of course, by Eric Holder. 

Mark O'Mara, who was George Zimmerman's lawyer, has filed to recoup some $300,000 of the non-lawyer expenses from the state.  This debt is on the shoulders of George Zimmerman.  From Fox News,

Since he was found not guilty, Zimmerman is entitled under a Florida law to recoup the defense costs, minus private attorney fees, said his lawyer Mark O'Mara. It also says that any costs already paid can be refunded with the approval of a judge

Mark O'Mara will not get paid anything since he took the case pro bono. Had he not donated his time, his bill would have been over $1 million for over 16 months of work. We're not counting any other legal counsel costs that might have been incurred. In short, everyone involved in the trial has been financially busted.

Think about that when Holder called for yet another case against Zimmerman (see my blog here).   It is the height of irresponsibility.  It's entirely unfair that Big Government, with unlimited resources wants to further persecute exonerated individuals---even after a jury has spoken.  And this by the nation's Attorney General!  Nobody can withstand or afford such an onslaught.  Nobody should.  Shame on you Holder.   Shame on you Obama.   Shame on you Al Sharpton.  Shame on all of you and all of your supporters!  All of you have lost my support!  All of you are unworthy of my support.

Obama Boxed-In By Syria Red Line Talk

You would have thought that we learned our lesson in Afghanistan and Iraq about how treacherous is our involvement in middle east regime change.  The devil you know is better than the one you don't know.

I guess there is one case where military intervention was justified and successful: the war between Serbia and Kosovo during the Clinton administration in the late 90's.  Serbia and their genocidal regime was brought down thus saving the lives of countless Muslims.  It involved all the NATO allies and the UN and it did involve troops on the ground.  Muslims really paid us back for helping them in 2001.

Along came the Arab uprisings which revolutionaries termed "Arab spring" but now has predictably morphed into "Arab hell."  The Obama Administration got caught up with the revolutionary fervor in Libya (leading from behind of course) and we turned against the 'reformed' Ghaddafi.  What did we get in return?  We got more chaos and the death of our Ambassador and staff (and the subsequent cover-up scandal).

Obama also got caught up with the protests against Mubarak in Egypt and called for Mubarak to step down (it was lose-lose so there wasn't a good choice).  What has followed is a disaster for the country as one form of tyranny gets replaced by Islamic tyranny then back to miltiary tyranny.  Mubarak, as it turned out, had held the country together (with an iron fist), kept the Muslim brotherhood in check and kept the peace with Israel for decades.  Now Egypt is basically on the verge of collapse except for international 'welfare' from the Gulf States.

In every case of Arab unrest and revolution the subsequent result has been a worse situation.  Arab civilization is indeed collapsing. 

I'm told that the upcoming missile strikes in Syria are not intended for "regime change" but once you lob missiles, you don't know what will happen.  The fact that we are arming and training the Syrian resistance belies the claim that the punitive missile strikes aren't intended for regime change.

Obama stated that he would not get involved in Syria unless they used chemical weapons.  Now, the administration claims that Assad has used these weapons.  I don't know if it's true.  It's reminiscent of the claims of weapons of mass destruction (WMDs) in Iraq.

Maybe it's more like a case of the President being seen to "act presidential" to help his ailing poll numbers.  After all, his only accomplishments in his presidency are in tatters: ObamaCare and Dodd Frank both aren't being implemented and/or completed. The economy has not recovered even after $6 Trillion in deficit spending and $3 Trillion in money printing. This administration keeps getting slapped down by the courts in a wide variety of cases. Both Obama and Holder keep showing how out of step, out of touch, and how inept they are. You could say that they entire administration is in tatters. It's a miracle that his approval ratings are in the 40s.  Apparently many people are still falling for Obama's (smoothly-delivered) bullshit. 

So, now that the administration is stating that chemical weapons were used, they have no choice but to act.  Such is the consequence of drawing "red lines"in the sand.  Our country's credibility, already low, is even more on the line.  If Obama doesn't act, he'll be perceived as weak (which he is and everyone knows it).

So, expect some kind of attacks on Syria from our "peace" president, which may open Pandora's box of reprisals in the months ahead from Iran, Russia and their proxies.  Get ready for unintended consequences as we intervene in another civil war and roll the dice on what happens next.  Recent history shows that everything gets much worse after our involvement, which in turn requires even more involvement.   All this to save Muslims from other Muslims who all hate us?  I say let them destroy themselves.

I've learned my lessons.  But this administration, full of neophytes and imbeciles, have proven to be immune to any lessons of any kind.  That's what happens when idiots come to power.

Jay Z's Big Pimpin'

To all you whitey's out there who are not in touch with mainstream American black culture, I thought I'd enlighten you a bit.  Here's a piece from mainstream black artist Jay Z 

From Wikipedia,

"Big Pimpin'" was the most commercially successful single from Jay-Z's fourth album, as it reached #18 on The Billboard Hot 100 and #1 on the Rhythmic Top 40 chart.  In Rolling Stone's updated 2010 list of "The 500 Greatest Songs of All Time", the song ranked at #467.

 The video got 5.1 million hits on YouTube.  Enjoy.  Be Enlightened.

  

Here's the lyrics from Metrolyrics so you can fully appreciate this artistic achievement. 

Uh, uh, uh, uh, it's big pimpin' baby
It's big pimpin', spendin' G's
Feel me, uh huh uh, uh huh
Ge-ge-geyeah, geyeah
Ge-ge-geyeah, geyeah

You know I thug 'em, fuck 'em, love 'em, leave 'em
'Cause I don't fuckin' need 'em
Take 'em out the hood, keep 'em lookin good
But I don't fuckin' feed 'em

First time they fuss I'm breezin'
Talki'n 'bout, what's the reasons?
I'm a pimp in every sense of the word, bitch
Better trust than believe 'em

In the cut where I keep 'em
Till I need a nut, till I need to beat the guts
Then it's, beep beep and I'm pickin' 'em up
Let 'em play with the dick in the truck

Many chicks wanna put Jigga fist in cuffs
Divorce him and split his bucks
Just because you got good head, I'ma break bread
So you can be livin' it up

Shit I parts with nothin', y'all be frontin'
Me give my heart to a woman
Not for nothin', never happen
I'll be forever mackin'

Heart cold as assassins, I got no passion
I got no patience and I hate waitin'
Hoe get yo' ass in and let's R I I I I I I D E
Check 'em out now

Financial Crisis Coming Soon from China?

In my recent blog in June 2013, Worldwide Financial Bubbles Beginning to Burst?,  I mention that Fitch has called China's financial system the "worst financial credit bubble in modern world history."

Debt has soared there in recent years and has found it's way into a "shadow" financial system apart from the government controlled enterprises.  From that blog:

It's likely that bursting bubbles in Asia will be the trigger for a larger world-wide financial bust. Asian bubbles include: China's credit market bubbles (official and shadow markets), dramatic, China and Hong Kong's property/debt bubbles, Thailand's property/debt bubble, Australia's property and debt bubbles, and inflated emerging market equity/bond markets all threaten a similar repeat of the Asia Crisis of 1997. When bubbles burst, banking system crises and currency crises are sure to follow.  Capital flight from emerging markets have already started and will aggravate the problems.  So, get ready for huge financial turmoil in the coming months.

Maybe I'm a little early in my prediction.  You could say that I'm on "debt-crisis watch."  In my opinion, the nexus of the next wave of the financial crisis may very well come from China (or Japan).   

Now, from Guggenheim Partners, comes a brief article and a fascinating chart showing the rise of debt in countries that subsequently had financial crises. You can see from the chart that China may very well be reaching a level that has marked financial crises in other countries.  Some people peg China's debt level at 200% of GDP, not the 170% shown on the graph. The Chinese themselves might not even know! 

Non-Financial Debt to GDP

 From the Guggenheim article, they go on to explain:

A rapid increase in private sector leverage in a relatively short period of time often presages major financial crises. Historical examples include the collapse of the Japanese property bubble in 1990, the financial crisis in South Korea in 1997, and the most recent crises in the United States, Britain, and the euro zone, which all happened after private sector debt surged to or above 170 percent of GDP. Chinese private sector leverage has reached this significant level. Over the past four years, non-financial private sector debt in China has more than doubled, primarily driven by massive corporate borrowing endorsed by government officials to maintain economic growth rates. Although the recent data show signs of a stabilization in the Chinese economy, the elevated debt burden should continue to cast doubt over its growth sustainability.

My Adjusted ETF Portfolio Mix

In a recent blog called Easy Investment Portfolio Management Using ETFs, I talk about how the advent of ETFs has enabled small investors to participate in domestic and international stocks and bonds at very low costs.

I included my current IRA ETF portfolio mix and made a projection for converting my taxable account.  If you remember, I said that I'm waiting for a market correction, hopefully this fall, before converting the portfolio to an ETF portfolio.  Something's changed.   In a blog called Jeremy Grantham's Expected Asset Returns--Next 7 Years, Jeremy Grantham, a very respected investor, confirms what I suspected; that US stocks are pricey with potential negative 7 year returns.  The other takeaway is that international stocks and bonds look cheaper.

Therefore I've adjusted my projected taxable account ETF portfolio to reflect more international exposure. (I've added int'l stocks but haven't researched emerging market bonds--I'll post another blog with the result of that research).  Remember, I'm waiting for a hefty correction this fall to convert from my cautious mutual fund portfolio in my taxable account.   Here goes:

SPY     Large Cap 2% yield                                                                      12.5%
VIG     Vanguard Large Cap US Dividend Appreciation 2% yield          12.5%
VXF     US Market-Total market excluding S&P500                               15%
VB        US Small Caps                                                                              5%
EEM    Emerg Mkts 2% yield                                                                    5%
VUE     World Markets excluding US stocks                                             5%
AGG    Aggregate Tot Bond 2.85%                                                            0% for now
IEI        3 to 7 year Treasury bond 0.6%                                                     0% for now
BIV      Vanguard Interm Muni 3.2% plus cap gain distributions               0% for now
MUB    Long Munis 3%                                                                              0% for now

Cash                                                                                                          45%

The breakdown is as follows:

Stocks   55%
Bonds   35%
Cash     10%

For stocks, there's 10% emerging markets and a total of 20% international stocks.  Go to Fidelity or your preferred site to research each of these ETFs before investing.  Also, Market Watch has some good articles on Lazy ETF Portfolios that are good "food for thought."  I'll update this information if I make changes.

Jeremy Grantham's Expected Asset Returns--Next 7 Years

Jeremy Grantham,  one of the most respected investors in the world, has come out with a report that ranks various asset classes for their expected inflation-adjusted performance over the next 7 years.   His company, GMO, manages about $100 Billion for investors.

From The Big Picture, I've included a graph of his projections.  The takeaway is that US stocks are very pricey, with negative expected returns of -2% for large US Stocks and -3.5% for Small US Stocks.  He says that "high quality" US stocks should return about 3% per annum.  I'm not sure what he means, but I'm interpreting "high quality" as large cap stocks with international exposure like those in the S&P 500.  Normal equity returns are above +6% per annum (excluding dividends). 

But, according to his analysis, international and emerging stock markets are cheap(er) with +2% and +6% expected returns, respectively.  Notice that emerging market debt is cheaper too.  He includes timber as an alternative asset class as a sort of 'teaser.'  I guess he's saying that commodities might be a good investment.   All in all, the world's stock markets are too expensive.  If you can wait for a 20% correction, then expected returns would be much better.  If you're patient, you'll get it.  I think that such a correction may very well be underway now and that there may be a selling "climax" in October of this year--not unlike 1987.

Here's the graphic (Click graphic to enlarge).

Projected Annualized Real Returns Of Assets Over 7 Years (from GMO)

   

Given this information,  I need to adjust my projected portfolio mix shown in my blog Easy Investment Portfolio Management Using ETFs to a mix more heavily weighted in international and  emerging market stocks and bonds.  Here's the new and adjusted mix:  My Adjusted ETF Portfolio Mix.  Again, I intend to wait for a correction this fall.  

Black "Thug" Culture Strikes Again

From Rush Limbaugh, speaking about the racial assassination of Australian Chris Lane in Oklahoma,

..this is just cold-blooded, first-degree-recreational, for-the-fun-of-it, because-they-were-bored, murder. Two black guys and a white guy in the group. No matter where you look in the media, it's not a racial event. Nothing about is racist. This is the epitome of media irresponsibility. It's a classic illustration of just what role the mainstream media is playing in the destruction of American culture and society.

He's entirely correct. Contrast this case versus the Zimmerman/Martin case where every one of the usual suspects, ie,, media, entertainment, discredited black leaders, discredited politicians got on the race wagon.  Trayvon was very likely a thug plain and simple.  Zimmerman might very well had died if he didn't fight back.  In this case, I had to go to an Australian paper to find coverage of this story that exposes the racial component of this hate crime. From the Herald Sun in Australia, they report that the 15 year old James Edwards (he deeply deserves the epithet "nigger") tweeted hate messages bragging about killing white people after the Trayvon Martin episode.

Edwards posted statements on his Twitter feed including a comment on April 29 where he tweeted "90% of white ppl are nasty. #HATE THEM".
Edwards also weighed when George Zimmerman was acquitted over the death of Trayvon Martin.

"Ayeee I knocced out 5 woods since Zimmerman court!:) lol sh*t ima keep sleepin sh*t! #ayeeee."

"Woods" is derogatory slang for white people. The feed also contains tweets glorifying violence, guns and gangs.

Hmm..you could say that Obama and all the other race-baiters encouraged him (and then).

Black Thug Culture

This country has an epidemic of crime by black men that is mostly ignored by dunghead media.  From my blog Ultimate Political Correctness: Blacks Commit the Majority of Gun Murders:

Blacks make up 13% of the population (both sexes) but commit 57% of gun homicides. It's even worse since it's more like 6.5% of the population (males) committing 57% of the gun homicides. Where is this discussion in the media?  Where is the program or plan to alleviate this problem?

Further, there is a large portion of the black population that is so stupid that their brains don't even work correctly--leading to criminality.  On top of that stupidity, black "culture"is incredibly decrepit, hate-filled and decayed.  Their "crap" culture is worsening too while white apologists and bullshit black leaders continue to blame anyone but themselves for their sorry state.  Heck, young people even "glorify" the criminal rap "culture." 

Along Comes Black Pastor James Manning

"80% of black kids are born to a family without a father and are raised by Hoochie-Mamas on food stamps."  Those aren't my words, they are from James Manning, a black pastor from Harlem.  Check out his "refreshing" message that stands out in such stark contrast to our politically correct, bullshit media world/culture.  Have a listen.  He might go a little too far, but I'd rather hear his version rather than our bullshit, namby-pamby, politically correct national media charade.

Gallup Data Shows Sharp Rise in Unemployment in August 2013

Uh oh, we have a problem.  The latest data from Gallup shows that unemployment has risen to 8.9% from 7.9% in just one month.

Check out this chart that I made from Gallup data showing unemployment trends for the latest month (July 20,2013 to August 20, 2013).   It's not seasonally adjusted like BLS numbers, but a trend is a trend.  In this case, the trend is not your friend.   With all of the manipulation of data at the BLS, I like the raw data from Gallup.  Yep, I trust the Gallup organization more than the Government.

The last data from Gallup is that "Underemployment" is at 17.9%.  Some "recovery." There's a chance that we've entered a recession.