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The Globetrotter

Kenneth Holley cringed last winter every time he heard someone on the television news compare the current U.S. recession to the Great Depression of the 1930s. “They went too far,” says Holley. “Unemployment was 25% during the Depression, and there were thousands of banks that went under. The parallels aren’t there.” (The nation’s jobless rate at press time: 8.9%)

Penny-pinching and Prudent

Surely, no one needs to tell you we’re in a crisis. It’s all around you. People are losing homes and jobs as their assets and savings decline in value. This recession is one of the worst in anyone’s memory. In an economy where staying afloat has become a challenge, we wanted to know: How are you doing? To find the answer, we posted a Financial Crisis Survey on blackenterprise.com. The numbers we gathered as part of this exclusive three-month effort tell a powerful story about how African Americans are adjusting to difficult times.

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