A new survey of 1,200 participants commissioned by The Smiley Group and Nationwide Insurance shows 58 percent of African Americans expect their household situation to be better a year from now, compared to only 30 percent of the general population sharing similar optimism. Full Story »
Posted by Dale Penn
The piece is a press release by a newsmaker. Arguably, it is not journalism at all. Conspicuously, it omits all blacks-vs-ooverall comparative data as to the criteria it says are most important: whether people are "practical, proactive and prepared". Instead of comparing races as to planning, advisors and actions, it gives comparatives only as to the respondents' feelings and situation. However, even though it does not seek further information than its own data and does not seek expert assessment of the data at all, the article does attempt to report the information it has. And it certainly is an original source on which many journalists may rely, so in that sense it's just as important to read as journalism.
After reading the article, I suspect that African Americans - even if not "practical, proactive and prepared" - are nevertheless just about as practical, proactive and prepared as the general population. People all talk a good line, and blacks are understandably trusting of the President, but it's a human trait for the actions of everyone - not just one race - to fall short of their circumstances and expectations. I feel bad about this press release, since I do not know what percentages of the general population have a written financial plan, a financial advisor, an idea of where to start in planning, and a college savings plan. How can you say African Americans are overconfident compared to others?