Elizabeth Barrette (ysabetwordsmith) wrote,
Elizabeth Barrette
ysabetwordsmith

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What Social Safety Net?

The economy is melting down, but not all of it is melting at the same rate. One of the hotspots centers on African-American women, destroying much of the wealth they have managed to gather.

Few safety nets for women of color
UNITED NATIONS, Mar 2 (IPS) - As hundreds of activists from around the world descend on the United Nations Monday for a major two-week meeting on women's rights and equality, the economic crisis here in the host country is continuing to have an especially heavy toll on women of colour. African American women were disproportionately impacted by the subprime and housing crisis in the United States that triggered the longer-term global meltdown, and they continue to be marginalised in the ever more precarious U.S. job market.


Nobody works harder than black women, but they are not succeeding very well in this capitalist system. If one thing doesn't drag them down, it's something else. I don't think that's right. And it sure isn't staying "their problem," because the waves of foreclosure are affecting the whole country. Racism was a significant contributor to this mess, it turns out, if you look at the percentages of who got subprime loans. The numbers strongly imply that a lot of people got loans at usurious rates less because of their credit and more because of their color. So you can list this as one of the extremely negative effects of the extremely stupid custom of racism.
Tags: economics
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