How Economic Bubbles Disproportionately Harm Women and Minorities

If there was ever something that caused my life serious damage it was nothing purposeful or untoward, but rather unintentional.  Specifically, people lying to me to spare my feelings.  We've all experienced this before.  Your female friends telling you you'll make some girl happy...just not them.  Follow your heart and the money will follow...in the form of an unemployment check.  Hard work and a strong work ethic will be rewarded...by manipulative bosses who will make you work overtime.  No doubt, like me, these lies you were world cost you years of your life and hundreds of thousands of dollars in lost opportunities because the people in your life then could not muster the courage to tell you the harsh truth.

Conversely, those that have the genuine heart to tell you the truth, are likely the ones responsible for what modicum of success you did have in life.  Your father telling you to change your own damn oil.  The girl who had the heart to say you needed to lift weights.  Or the rare guidance counselor that said, "No, son, you're not going to make it with a degree in communications."

The reason polite lies wreak incalculable damage as opposed to harsh truth is that lies, no matter how kind, do not adhere to The Reality Principle while the truth does.  Ergo, in telling people the truth, no matter how harsh, you are ACCURATELY informing them about reality, allowing them to make decisions based in the real world, and thus have better results and success in life.

This conundrum or paradox, however, perfectly explains women's and minorities' effective "2nd place" in the US and other western nations as they are both the victims of "kind lies."  Propagandized by left-wing politicians, they are led to believe that their second place ranking in society is due to "discrimination" or "sexism."  That women earn 25% less than men because of discrimination...not because they major in easier subjects and work less than men.  That minorities median income is only 78% white's because of evil racism...not that fact 70% of blacks are born out of wedlock which cripples their future financial endeavors.

While you, me, and any other regular visitor here to Cappy Cap Land knows this, there is another way this left-wing propaganda harms minorities.  And it's particularly devastating:

Economic bubbles.

To simplify it, let's say you're a white male.  You're evil, you're sexist, and you don't even know it because you're privileged.  That's all fine and dandy, but in the end, it does not "blind" you to various economic realities.  You're likely aware you have to work hard, probably major in a STEM field, and you're also likely to know not to have kids before you're 30.  The majority of propaganda is to make you feel guilty so you are more willing to pay more in taxes so that the socialist party and continue it's bribery of non-white male people.  It is NOT to delude you about your future or economic reality.

However, the same cannot be said for minorities and women.  Leftist propaganda not only deludes minorities and women into thinking white males and discrimination is the cause of their second-placeness, but that they can do ANYTHING they want.  Ergo, not only is their performance dismissed away (because of you evil white males you), but they can do "anything" and "have it all."

The single, independent, Roundhouse Kicking Chick Cop Show woman CAN become a cop, get her law degree, become a judge at 38, teach at the local university, be a cougar at 48, and find the love of her life to start a family with at a wrinkly 53.

The poor black kid CAN become the ganster-rap artist, an NBA 1st draft pick, a future full back for the NFL, or a general P-Diddy-esque socialite.  Just keep rapping and lifting weights like the other 30 million black kids, and don't think about engineering or accounting.  YOU CAN DO WHATEVER YOU WANT, FOLLOW YOUR DREAMS, labor market realities and "aspiring rap artists'" life expectancies be damned.

I can go on, but the point is that they are not only deluded to think they never made a mistake and are therefore not responsible for their current position in life, but that they are capable of, if not entitled to, great success.

This puts minorities and women in a very dangerous economic mentality because unless they paid particular attention to their college economic courses (assuming they were even taught by a competent economist), they are completely blind to the risks involved with "having it all" and "living the American dream."  This makes them incredibly susceptible to bubbles.

For example (and this is the observation I had that prompted this post) look at the racial and sexual composition of Facebook/Twitter posters on "Law School Lemmings."  Though not the majority, minorities and women account for a disproportionately high percentage of the kids posting about law school and how they can't wait to attend/graduate.  But it's quite apparent than nobody has told them that schools are producing 2 law graduates for every 1 job currently being offered.  Matter of fact, the propaganda is so thorough current applicants and acceptees to law school are completely tuning out the dire financial straits current law graduates are facing today.  The consequence will be that of which only pretty lies can deliver - graduates with $250,000 in debt, no job prospects, and a destroyed financial future.

Another example, the housing bubble.  It wasn't until the later and last stages of the housing bubble were lending standards lowered so far (both by bankers desperate to keep the bubble going and politicians that wanted to "help" minorities) that minorities and women started entering the housing market in droves.  While at the time this may have seemed like "help" and women and minorities were "finally" going to achieve the American dream, all they managed to do was buy into the most inflated housing bubble in history AT ITS PEAK, and thus suffer the largest decline when it burst.

And finally, the retirement bubble.  Again, late to the party, women and minorities (and especially young people) who overcome their economic disposition "finally" have enough money to start stashing away for retirement.  Hurray!  Celebration!  Joy!  They're buying into a market that based on PE ratios is 60% overvalued.  Never mind that would be the exact same thing as being excited to pay what amounts to $5.20 for a gallon of gas, the propaganda and pretty lies have made them think the ability to invest is the goal unto itself, not to get an adequate rate of return (and don't even get me started about how Barack Obama's MyRA harms the disadvantaged).

We could go on, but the point is simply this - in lying to two general classes of people for political reasons you've denied them the ability to be truly independent minded and thorough in their due diligence of researching particular investments.  This is bad enough as it impairs their ability to truly assess various investments, but since you did NOT lie to the other group of people (white males) you've allowed a segment of the population to invest in different areas of life.  This "smart money" or at least "non-propagandized money" invests when it makes sense, realizes the majority of gains in these investments, AND drives up prices to the point it may get bubbly.  When other segments of the population realize how these different investments are "on fire" (housing, Dotcom, education, etc.) they come in, with what little money they have as Johnny-Come-Latelys only to be the last "bigger fool" of the "Bigger Fool Theory," buying when prices were highest, ergo getting the worst deal, and therefore suffering disproportionately compared to their White Male (and naturally-implied) Evil counterparts.

It is here everybody of all races and sexes need to wake up and realize the damage lying to different groups of people in an effort to alienate them, and thus conscript them as life-long voters for left-wing politicians, causes.  Women and minorities are not suffering an effective second-place citizenship because of evil white males or discrimination or sexism.  They are suffering a second place citizenship because leftists and socialists have been lying to them for decades.  Worse still, they believe it, and consequently pay a horrible economic price (Detroit anyone?)

Alas, it is not under my control nor my responsibility to get people to appreciate harsh truths over warm-fuzzy-feelings lies.  I have my own life and have been lectured enough by various sectors of society for daring to speak the truth or hold women and minorities up to the standards I would white males (ie-treating them as genuine equals which I thought was what the goal was).  But what I hope will convince women and minorities is how time and time again socialist and leftist causes and promises

put them in houses they can't afford only to be repossessed
lead them to chase impossible dreams instead or realistic ones
destroy their communities and cities
ruin their families
put them $250,000 in debt for a degee that just won't pay
and in short, just completely destroy and ruin their lives.

Then again, I've never seen such propaganda that was so thorough and so effective.  It would not surprise me if the entirety of my brilliant argument above would simply be dismissed with an accusation of being "white male" or having some kind of "privilege" thus blinding my "ignorant ass" to the "real problems."

Oh well, enjoy the decline.