Home | About | Donate

The Racial Wealth Gap Is Leading to An Almost-Nonexistent Middle Class


#1

The Racial Wealth Gap Is Leading to An Almost-Nonexistent Middle Class

Julia Conley, staff writer

A new study finds that if the racial wealth divide is left unaddressed, the median wealth for black Americans will fall to $0 by 2053, with Latino Americans reaching the same median wealth two decades later.


#2

Yeah! The plan is working!
Slavery to coloreds!

The rentiers need to jack up rents a little more.
The Bezoses need to put some more small businesses out permanently.
The Kushners need to invite some more money laundering Chinese into the country to fatten the stock market based economy.

Print More Dollars - Yah Stock Market and Yachts!!. (Go Yellen! Go Yellen! (that be some fine yelling))
Tax cuts in the fiat for the rich and to the Military and brain fucking GOD!

We are done, Bernie Care or otherwise.


#3

Policy determines the distribution of wealth. Free market Jahadists are destroying the world. With Labor Unions their were only sisters and brothers, no Diversities. All need to unite against the Oligarchs.


#4

A more succinct definition of “an almost non-existent middle class” is neofeudalism whereby the 1% own everything and the 99% own nothing, which is the oligarchs’ goal.

Most of what is left of the US middle class is so deep in debt that the next downturn in the business cycle will push far more Murkins out of the middle class than were pushed out by the 2008 crash.


#5

" We must be dissatisfied until the walls that separate the city of wealth and comfort and the city of poverty and despair is demolished by the forces of justice.

We must be dissatisfied until integration of all Americans is not seen as a problem but as an opportunity to participate in the beauty of diversity.

We must not allow the necessities be taken from the masses to give luxuries to the rich and to finance wars of profit."
MLK


#6

This, as Dr. King tried to warn us in 1967, coupled with the profligate waste of our wars, will almost guarantee a violent revolution eventually. America has sown the seeds of its own destruction for decades. Only a radical change in policies and attitudes can avert this, but it’s getting late!


#7

Timeless Truth! Thank you!


#8

We know how they solved the MLK problem. That is their way of getting rid of problems. Not the “democracy” thing like they would like us to believe. We need to call them out - who they are and what they do. Saw William Pepper the other night and recently read his book on the MLK assassination. Seems like the guy who was all “law and order” and has his name on a building in Washington - was behind this assassination. A lot of our former leaders and their monuments need to be torn down in the fury of a national disclosure of the truth of our history.


#9

Another important piece of the puzzle is US government policy, which explicitly discriminated against blacks in housing, thus denying them this opportunity to accumulate wealth that it gave to white Americans:

“The most important role of the Federal Housing Administration was it subsidized mass-production builders of entire subdivisions, entire suburbs. And it did so with a requirement that no homes be sold to African-Americans and that every home in these subdivisions had a clause in the deed that prohibited resale to African-Americans.” – from an NPR interview with Richard Rothstein (http://www.npr.org/templates/transcript/transcript.php?storyId=526655831)