Many years ago, the Saturday Evening Post was one of the best-known magazines in America. But somehow I learned that the Saturday Evening Post was actually published on Wednesday morning. That was a little disconcerting at first. But it was one of the most valuable lessons, that words do not necessarily reflect reality.
Recent statistics on the average wealth or net worth of blacks are a painful reminder that rhetoric favoring blacks does not mean that politicians using such rhetoric are actually helping blacks. The media seized upon the statistics published by the Pew Research Center to show that whites averaged far more net worth than blacks, and that this disparity was now greater than it was in years past. But what is even more revealing is that the net worth of blacks in 2009 was less than half of what it was in 2005.
What happened to cause such a sharp loss in such a few years?
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Thomas Sowell (photo)