How America Created Its Shameful Wealth Gap | Robert Reich
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- čas přidán 2. 12. 2019
- Co-Founder of Liberation in a Generation Solana Rice explains how a combination of institutional racism & white supremacy created America's racial wealth gap.
Watch More: The Secret GOP Plan to Keep Power ►► • Why We Need a Wealth T...
The fact that conservatives can't understand how the past affects the present is mind boggling.
Some conservatives know better, others practice willful ignorance.
Conservatives know exactly how the past affects the present. They choose to perpetuate systems which benefit them. Deplorable!
Another reason it's so hard for many of them to understand the Theory of Evolution.
They know. They just don't care
@@NonnysHouse im from finland and just saying murikas system is million times better than our. It is harder here for the poor to get rich cuz the socialism is too much. We should cut in many places and make it private cuz private is way better and actually you will pay less than for example in finlands case where we pay 50% of our pay to taxes and more you earn more you pay in taxes. That means that rich benefit from this the most so we should have way more free market. Btw im happy that demonrats here in finland are fking things up. They won last election by 0,2% and barely won over conservatives with 17,7% and demonrats had 17,9%. Well well now tables have turned and demonrats have been in the lead for half a year and lemme say couple things they have done. First thing is that polls are showing conservatives getting new voters everyday cuz people wake up and start listening to conservatives and not be in the bubble all the time. Conservatices now are showing +25% of the votes in polls and demonrats +10%. We are tired cuz they cant do anything and just lie. Their leader/spokesman just made a big ass lie and we havent been able to ship post for weeks and nothing has been done in the house. Now even leftists parties and people in demonrats are saying he should be removed (Antti Rinne) and bruh he kept lying and tried to even save his own ass and make one woman kicked out from his party blaming her. Well this is even better for the conservatives when in couple days he will get kicked out of the leader position and switched to some greenie commie that will bring even more votes to right wing. Ah cant wait 3 more years and we will have god tier parties at the lead and our economy finally going up and making things better for every race legally here in this country just like murica. Too much socialism is the poison but like 30%less than we have in finland and it would be perfect cuz people wont vote for policies that dont benefit them and leftists are too lazy to even make own business and just complain to those who have succeeded. Imo no matter where you started it doesnt matter it just makes it way harder. btw im a mechanic and for me to succeed in finland it would be very hard. Own business is minimal risk of losing 100 000euros cuz the shop and all the tools... That guy who took the risk should be able to earn more are you dumb? Mechanic here earns 2000-3500e a month usually under 3k. About our post system here that is run by government and couple private businesses. The government post called Posti hasnt been shipping anything for +1month now and now they finally will cuz conservatives and more right leaning parties are figuring things out and exposing commies. Green party leader is literally shipping ISIS women here etc. i could continue for days. plz keep america the way it is not that socialism shit it will ruin everything and when it happens then you will understand that it isnt good at all.
Economic slavery, I have been saying it for years, and in this country it's legal.
Correct debt is a form of slavery.
@@mjohnson1741 not for the rich
Debt slavery happens when the middle class competes with upper class for big ticket items like real estate and 1 ton crew cab trucks
How is it slavery? You are not told how too spend your money, or where to work or where to live.
@@choosefreedomisback8898 the slavery is in the wages that we are paid, prices rise, college tuition rises, home prices rise, car payments rise, wages have stayed the same since the 80s. Wake up and see reality.
My father told me how they took my grandfathers farm here in Ga. The sheriff arrested my great uncle and told my family they needed a bond to get him out. They had no cash and serving time in Adairsville Ga at the time was a death sentence, check that too. They put up the farm, the sheriff and judge changed the date of the case, no one shows up...they take the farm and my great uncle dies in a chain gang for a charge no one ever explained. Gotta hate Ga.
God that’s horrible.
Jeebus, people in this state really have no shame...
OMG. I'm so sorry. That is tragic! 😭
Wow. If they can do that we will never over come.
Sounds dubious
This is our country's biggest shame. It is embedded in our society, our politics and our government. I am not a smart man and have no answers, but education must surely be the answer.
@Anthony Slaga it will be women and the young who will change our world....we must always lift them up!!
@Anthony Slaga Absolutely!! That despicable cretin has got to go along with corporate monopolies and the GOP....I hope people are paying attention to the corruption and care!
Education is supposed to be the “great equalizer” but schools today are practically institutionally segregated and funding disproportionate. Then add charter schools to the mix...
@@fritzsmith3296 I believe he was commenting on the ironic contradiction of the comment, not the English. Give it a re-read. Thanks.
Education yea right. To get into student loan debt. School isn’t free
*What the public education system doesn't want you to know*
Huh? How do you figure that? It`s more about the way public schools are funded. I agree if that`s what you mean.
Brad Christy so how are private schools are better? What do they teach that’s so much better. And give me some details to your answer please.
Jumanne Jahi It’s not WHAT they teach, it’s that they actually TEACH.
Private schools have long produced far better results in regards to preparing their students for the life that lies ahead of them. On average, private school graduates go on to lead more self-sustainable, lucrative careers, with no discernible pattern in regards to incomes of students families.
In the public school system, when reducing graduations standards was determined the solution to decreasing graduation rates, educating the students was no longer the goal. The public schools system has become nothing more than a Leftist indoctrination internment camp.
Brad Christy I don’t think it the schools prepares student for life better that public schools. Look at were most of the kids come from who attend private schools. Also what do you mean by better equipped to deal with life? If mean making more money that may have some validity, it also may not. I don’t know how you’ve come to your conclusions , ask yourself this , do we want to live in a society where education is only for the financially elite? That’s a problem, at least in my mind.
Jumanne Jahi Are you seriously suggesting that kids from wealthy families are simply more easily educated because they are from wealthy families?
The statistics are very clear. Private schools consistently produce higher testing graduates, and there is no correlation in regards to wealth levels of the students. Not all students in private schools come from wealthy parents. I personally had several friends growing up that went to private schools, and they were anything but wealthy, and they all went on to become very productive contributors to society.
I’m not suggesting any such thing. I simply think we should all have a choice as to where our educational dollars go. If we feel the public schools are failing our children (which they are), we should have to option of spending our education funds on educators that have proven more effective, which would be private schools. This doesn’t inherently defund the public school system. If our public school systems would actually educate our children (they don’t) instead of simply churning them through (which they do), very few exercise the private option.
Additionally, statistics also clearly show that funding bears little influence on education results. Some of the highest per capita budgeted schools yield some of them pay abysmal results.
At the end of the day, the only reason the Left is so defensive of the public school system is because they have managed to infiltrate them, due to the lack of expectations of results, and they know they will never be able to do so with private schools. The last thing the Left wants is for future generations to realize their parents’ dependency on the Democratic Plantation Party started with their public education, and that that dependency is easily severed with the real education they will get from private schools.
We need more people of color in government, preferable in progressive roles, to help change this. This system isn't ok
Bernie 2020
JJ W we also need these alleged “POC” who gain prominent positions to help their own people and and not turn their backs to us and towards whiteness.
I agree! Bernie 2020 & beyond!!!
There are people of color in government and many of them are corrupt. Why do you think Kamala dropped out? It's because she is corrupt. The answer is to replace every corrupt politician with a True Progressive. I think that it would be refreshing to see a True Progressive Republican! Ha!Ha! Imagine that! =-D
@@brindlekintales What a stupid and ignorant comment! Ignorance is not bliss and should not be displayed like a badge of honor! Peace.
We need more people with a conscience, an understanding of history, and the courage to eliminate systemic inequalities. I don’t care what color they might be, personally.
The American dream is dead and if it's alive to make a few people who can obtain it...
The American dream is alive and well but you have to live in Denmark to to enjoy it
@@gregb6913 why Denmark explain...
The american dream has always been a fairy tail to serve the rich
@@michelvanosch5465 you are so right I can't agree with you more that's the point.. don't get me wrong it does help some poor people who get out of it it is not meant to help you or me.. it is set up for those people the rich like you said..
@@skapunkoialternativeliving6522 it's ranked the happiest place to live their more a socially democratic and the middle class is growing not shrinking. I really believe we could be in the same place if everyone wasn't freaked out by hearing democratic socialist and would agree to try it for 4 years then 8 if it's really working because socialism for the wealthy and capitalism for the rest like we have now is just making the wealth gap grow
Bernie 2020!!!!
because a dessicated commie who never held a real job, was the 'amendment king' riding the coattails of legislators actually doing something productive, who produced 'feel good statement' legislation that did nothing to actually make the lives of Americans better, whose only message is 'free stuff!' that isn't really free, is just what America needs.
alexander williams “Free poverty for everybody!”
-Bernie Sanders
@@mediamattersismycockholste562 Who's getting free stuff? "High-tax, traditionally Democratic states (blue), subsidize low-tax, traditionally Republican states (red) - in a big way."
"Blue high-tax states fund red low-tax states", Associated Press, December 9, 2017
@@LisaBeergutHolst the same AP that went on and on about a Russian Collusion Hoax for three years, right? I'm pretty sure all the inner city welfare recipients in blue states would disagree with that article. Find a source that didn't lie to Americans for three years.
@@mediamattersismycockholste562 That's a serious allegation. Where's your proof?
Another lie that I despise is "Black people didn't turnout to vote." The majority of black people live in cities that are in states that are STILL mostly white. So our votes & values become diluted, especially with gerrymandering.
It’s gerrymandering. They put all the black voters in one district. Then, why vote? You get the Democrat. I want the Libertarian!
Bernie Sanders is the only candidate that is trying to right these wrongs..
I think Bernie Sanders is the not the only candidate, he is however the most well known, there are others.
THIS should be taught starting in the high schools!!!! ALL of them!!!! Get the facts!! Check for yourself!!!!
Both parties prefer the masses to be uneducated it makes it easier to pick our pockets. I think it may be better to help fix the problem ourselves, than to wait for the government to educate us in things like Marxism, socialism and civics, something's that they clearly wish we wouldn't learn in the first place.
There are 7.7 billion people on the planet. 26 people own the wealth for 3.8 billion people
That's half the worlds population. 26 people out of 7.7 billion own the wealth of 3.8 billion people. The disparity is a Global Shame.😔
What if the rest of us just beat the hell out of those 26.
This was awesome. I don’t see how you can decouple racial injustice and economic inequality. There is much for this country to be ashamed of and much to be done to correct it.
You should go up to black people on the street and hand them your money. For racial justice. It's just the right thing to do.
@@mediamattersismycockholste562 I'd rather hand them the Koch Brothers' money, LOL.
@@LisaBeergutHolst because that's how the left works.. with other people's money, right?
@@mediamattersismycockholste562 Yes. That's called "fairness".
@@LisaBeergutHolst no, it's called 'theft'. This country is about equal opportunity, if you want equal results, go to Cuba, Venezuela, etc where people are equally starving and poor.
I realize that this is a short video but I am surprised that no mention was made of the fact that part of redlining included locking minorities into loan/mortgage rates that were usually higher than those for whites in similar economic situations.
Pretty sure that IS part of redlining. Now that redlining is illegal they use other means to keep people separate like land use laws. Municipal regulations that make sure that all houses in a neighborhood are basically the same, for instance.
It's less about race as it is about class. If every house in your area has to be a two story, single family home, that guarantees that the only folks who can live there are in the same socioeconomic class as you. Minorities were more likely to be seen as inferior in decades past (lower class), now it's the poor. Opinion "news" and editorials bare this out. Just watch Fox news for every reason that the rich are better than the poor. Our own president sites good genes as the driving factor for wealth creation.
It's about keeping the poor away from the rich. The haves away from the have nots. Still segregation, but with a different mechanism of control.
The sub prime loans were encouraged by BOTH parties. I don’t know what the new trick with banks will be, but zoning is still being used to keep “nice neighborhoods” white. Look at Houston. No zoning means diversity. Even in Texas.
@@nunyabidness3075 it's not as much about keeping neighborhoods white. It's much more about keeping the classes separate. The rich hate you if you're a poor white too, or they at least don't want to live by poor whites (or anybody they see as "lower" class.)
You can see this playing out in politics. Look at the support for rich black politicians among upper and upper middle class whites. It's because those rich black politicians share their values because they're all rich.
It just so happens that minorities are still struggling from the very real and widespread racism of yesteryear or they're immigrants who don't have as much wealth because they're just starting out in a new country.
Anthony Twohill , It’s a distinction without a lot of difference. The minorities are disproportionately the poor. The racial component is dying off for sure. The racists are increasingly poor who cannot afford nice neighborhoods. Stupid and classless people generally cannot make enough money to be rich in general. And when they inherit, they lose the money.
@@nunyabidness3075 you're missing an important piece here. Behavior is learned. When classes mix, both sides can learn better behaviors and attitudes from one another.
Your point about the "stupid and classless" illustrates exactly why diversity is a good thing. It's the crux of what I've been alluding to. People of a certain socioeconomic class dislike those from a lower class than themselves because they are perceived as stupid or as one of the "unwashed masses." That is to say, lesser than. You bought into it too, and you're incorrect.
There's intelligence and stupidity among both the rich and successful, and the poor.
Cheers.
If you don’t have parents that can help you get your start in life, the odds are stacked against you
Numbers don’t lie. Would be helpful to include Native Americans in the data as well for an additional comparison. As someone who has worked so hard to stay afloat, I know how much harder you have to work. I am almost 40 and will be completing my BA in 2020 with as little student loans as possible. Being a chicana woman, I did not have the luxury of having college help from my parents growing up and had to join the workforce right away . I have worked the entire time to pay for it myself. My husband and I also bought our first home this year! As a Native male, he is one of very few to be a homeowner in the US without govt assistance I might add. It takes so much work but SOOO worth it! Don’t give up!
Great story!! Congrats on ALL ur accomplishments!!
Good for you guys!! Positive vibes from New Hampshire.
That segment in the beginning. The budget nonsense. I just had a conversation yesterday with a conservative who said exactly that.
Yeah, 'If you didn't buy those shoes/telephones/lattes you could buy a house.' Sure you could. They also like to say, 'If you don't like your job at Theonlyplacethathirespeople in Podunk, Redstate, you should just quit and find another one' - in a city a hundred miles away, where the cost of living is three times as high.
@@chezmoi42 even worse is the presidents daughter saying we should, “just find something else”, yet she attained everything in her life through nepotism
But it’s true. Regardless of race look at how people spend their money. Blacks are not excluded from any job in America, including president. Can attend any college, major in any field. Read the millionaire next door and see who the real wealthy people in America are and how they got that way. It’s propaganda pushing a narrative. It’s cruel and wrong to tell people they cannot get ahead in life because of their color. The democrats have been fucking blacks over since slavery.
You literally can't save enough to get ahead when racism locks you in jobs your paid less for because of your race... There's no better place in America that pays a living wage, and we literally can't afford to leave.
Someone once said, “Their should be a revolution in every generation.” We need a cultural and economic revolution, friends.
Thomas Jefferson said "a little rebellion every now and then is a good thing", and I'm pretty sure he said something about a revolution every generation or 50 years or something like that
@@StevenFarnell thanks, I am the worst when it comes to names.👍
and we elected President Trump and got one. :)
@@mediamattersismycockholste562 dude Trump is literally just another rich guy trynna milk the system. No more billionares running the country!!!
@@cynque45 Did you public schooling teach you that? Trump has tried to not take a paycheck, now he just donates it. Some guy who has made billions, and overcome a lot of financial adversity while he was at it, is just who we want running the country. Just imagine how great it would be if Trump didn't have to have the activist anti-American media wasting his time constantly? No one with anything to lose is buying the left's bullshit anymore. Most of you on here are just foreign or domestic paid trolls, or a few useful idiots. Most Democrats don't have the acumen or experience to run a hotdog stand, much less a city or country, as can be seen by all their massive failures for the last 30 years, much less their corruption by foreign interests such as the ChiComs. Keep preachin' the company line bud, but no one is buying, lol! Remember! HILLARY WAS 98% TO WIN..... R I G H T . . . . . .
As MLK put it America has an unfulfilled promise.
Preach sister. This should be a country for everyone, not just a select few.
Medicare for all and free higher education would definitely help a ton!
A ton to the power of the population.
No it would just cost a lot more money for everyone
It does not guarantee that people are better off. Not everyone wants to go to school, even if it is free. Also, someone will have to pay for those free stuffs. Nothing in life is free.
Let's vote Bernie Sanders or Andrew Yang to help black families
Highteckhobbies let’s vote Bernie to help all families. Universal programs are the only ones that won’t get undone with the next Republican Presidency. I don’t oppose UBI, but I strongly oppose the regressive VAT to pay for it. And I don’t like the idea of replacing fossil fuels with nuclear, since that would only move our carbon emission pollutants from the air to nuclear waste in or on the ground. Any energy that produces toxins as a byproduct is not clean energy by definition. Andrew Yang needs to fine tune his message and try again in 8 years. Meanwhile, we can convince Bernie to fight for UBI without the VAT.😁
@@sheriaddis6573 all lives matter response. He's not saying let's ignore all other families, he's saying let's make sure black families get the help they need because they have been targeted and dismantled for generations. If any group needed this the most it would be black families.
Sheri Addis in a climate emergency, nuclear power is a legitimate alternative to fossil fuels. Renewables also have issues with toxic byproducts, and they are not enough to produce the energy we need right now, but the reason we need them is because it’s still better than fossil fuels. The same applies to nuclear. Also, newer reactors and fuels are safer and produce less toxic waste than older ones. Yang is simply being realistic about the path to fully green energy being less than perfect until we get there, but better than doing nothing until the perfect comes along.
I am an ex-middle class white American who went off the financial and economic cliff about 15 years ago. Now I finally understand what black Americans have been experiencing throughout their history. After the epiphany I received from falling into poverty I became a lot more empathetic to what my black brothers in America have long been going through for a long time. A lot of the same things that blacks have complained about for years started happening to me. I even got arrested for the first time in my entire life for putting a fake inspection sticker on my car because I couldn't afford the repairs but I still needed to drive the car. My father used to say, "The system makes you cheat". Well, he was right. It does. They force you into a corner and then when you break one of their little rules trying find your way out they are right there with handcuffs, lawyers and judges and then either fines or jail.
I think one thing that needs to occur is for all Americans near or down at the bottom have to start realizing that we all have a common enemy. Instead of fighting amongst ourselves we need to become united and start demanding that those at the top start creating a more fair society that gives everyone a more equal share.
If you're going to steal, do it big. White collar crime almost never receives the consequential punishments that it should. It's easier to pick on the poor because they don't have lawyers and a pile of cash to get out of trouble, like Trump and his Republiturd buddies.
@@milfordcivic6755 The inscription on the US Supreme Court Building should be changed from "Equal Justice Under Law" to "As Much Justice As You Can Afford". And the scales of justice have two piles of money on them and the bigger pile determines who wins.
Redlining never stopped:
The testers reported racially disparate treatment in 40 percent of interactions with realtors. Black testers experienced disparate treatment in 49 percent of cases, Hispanic testers in 39 percent and Asian testers in 19 percent. Some realtors refused to show listings or conduct house tours for minority testers, others steered them away from predominantly white neighborhoods. They warned white testers away from black or Hispanic neighborhoods while also showing more listings and allowing them to see homes without proof of mortgage-ready financing.
This was one investigation in one part of the country with a specific history of housing discrimination and racism. But a similar study from 2012 - conducted by the Urban Institute and the Department of Housing and Urban Development - showed nationwide patterns of housing discrimination. After conducting 8,000 tests in a representative sample of 28 metropolitan areas, researchers found that, compared with whites, black renters and home buyers were shown substantially fewer units, as were, to a lesser extent, Asian-Americans and Hispanics.
projects.newsday.com/long-island/real-estate-agents-investigation/
But i partly disagree. I do agree that many white people may use black behavior as a deflection from unequivocal racism/discrimination, but Many studies indicate that, indeed, black and brown people have a worse handle on money, education attainment, and finances. Somwhere around 60% of nba players are bankrupt a decade after they retire. The same trends appear in the nfl-both are predominantly black sports. I don't think white racism and black behavior are mutually exclusive. It's both. Why can't we tackle them all?
FYI in Spanish “Latinx” is still pronounced “Latino”. The x is just put in writing to show a lack of gender.
Thanks!
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She helped me recover what I lost trying to trade my self
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We don’t have a democracy in this country, we live under a plutocracy where trickle down economics rule. No union means no bargaining for better wages. We have a healthcare system that is unaffordable for most people. Housing costs are way too high. Student debt is in the trillions and the cost of childcare forces women to stay home and jeopardize their own financial future. We have a long way to go before we can claim greatness. We are definitely not the best country on earth
Bernie Sanders 2020 - time for a change
If older black voters stay with Joe Biden, that is part of the problem, not part of a solution
Very true and this is an excellent presentation that is the truth. I'm a white male in my 70's and the attitude in America is very certainly racist. Your presentation is really great. I hoped for years that this disgusting racism would at last stop. Hope is all I have left. I hope everyone will watch your presentation. And I hope it helps.
It's sad that nothing will change because of the crook in Washington
As part of the comment a bit of background story. I am a foreigner to the states (an immigrant) but I am white and from Scandinavia so to most I guess I can count myself among the lucky.
And now to the comment: I am 100% with you (the presenter) but to really push forward the war on the huge wealth gap in America I think it would be productive to create alliances with some of the low income ‘racist’ Trump voters. The wealth inequality is so big in the states that a very few have it all and most have none. The statistics are misleading when they describe white as being of the same ‘tribe’. I think there’s a lot of marginalized poor white people that can’t recognize the generalized pictures being painted of them being better off. The gap is also an issue of race but it is even more, I think, a war between the have and have nots. If we want to win this war we need all the allies we can get. Poverty creates racism. In a more equal society there will still be racists but only the fanatics will be left and they are usually beyond reach. We need to convince the poor (probably primarily from the southern states) that color is NOT the enemy but greed is. And we need to go after them all, also the so-called good billionaires like Bill Gates and Warren Buffett and Bloomberg! There’s just something plane wrong when your personal wealth is bigger than the gdp of a small country and that while normal hard working patriotic Americans (of any color) can’t make ends meet. It time to go to war. Let’s sacrifice the few for the betterment of the many.
(Reading guidance: remember that the pen is mightier than the sword).
I agree with you. Institutionalized poverty is part of an oppressive system that also victimizes white people -- who also suffer from deliberately underfunded scools and lack of education and the butt end of the police state and prison gulag.
That other person who responded is right about those morons to an extent. They might be so obnoxious you don't want to deal with them, but they're not hopeless. We need each other as allies to overcome a very powerful enemy who has learned lots of ways to divide us because dividing us makes us weaker.
Shut the fuck up
I don’t know about everyone else but we are a college educated PhD family with a mountain of debt, taking out loans to pay our taxes. I guess it depends on medical conditions and such
What I'm tired of being omitted from alot of inequality talks is poor or lower middle income white families like mine.
We dont suffer from the racial disparities of those who are of color, but ours has the same effect.
Because I don't make enough to secure credit, mortgage, a decent car, or further my education I find my family in the same financial situation as those of color. No matter how hard or how much my wife and work we cant save cant get credit cant get loans, everything we can get is left overs. And always being told we dont how to budget or save, or that we live outside our means. The scourge of wealth inequality starts with credit, and effects Americans of all colors.
that's unfortunate, and I'm sorry to hear it, but that's not the systemic kind of disadvantages shes referring to here
@@jasonclarke7557
If your dont think or cant see the systemic disparity of class warfare, or dont think that we all have to work together to fight it your missing the point. Your helping them to further the divide in this country, no matter your ethnicity the war is on all of us, racism is a tool they can only use on minorities, the rest of their attacks are on all of us
@@jimmykpat2138 who is 'they' in your scenario? this can be part of a larger discussion, but she is speaking about racial based inequality, not that poverty can't impact other people, but that it disproportionately affects people of colour.
i get that you have your own issues, but you should be able to see how this affects some people more than others, and that there are systemic reasons for that.
@@jasonclarke7557
And point missed again.
They, RICH WHITE PEOPLE AND CORPORATIONS.
You want to discuss disparity to minorities, a valid discussion, but your propagating the divide between people.
We can never remove systemic racism by arguing with each other, only by sharing common ground, this system of disparity can only be removed by a coming together of all peoples who are being trampled by the system. White,blacks,ect.
Look beyond color to the true enemy, to it's true goal... we fight THEY keep the wealth
@@jimmykpat2138 sorry, i think it's you that is missing the point. she is proposing the idea that outside of all these disparities that affect all people, they are systematically designed to hammer certain people harder.
it's not being divisive to point out a problem that affects some people at an alarming scale more than others. you would dismiss her cause she's not being inclusive enough to what you perceive as a class struggle, and that's not what her point is. it's a different argument, and while they may overlap each other in some ways, you can't dismiss her perspective because you think it doesn't include you enough.
that or make a video of your own. but it's some high level whiteness that you don't like that her video about racial disparity doesn't speak to you.
Reminds me of something one of my right-wing coworkers said disparaging "white privilege" by claiming he had worked hard to earn what he has. He conveniently ignores any starting advantages he got from his parents, the support of education and other public institutions, and the good graces and/or luck of employers choosing to hire him over someone else. Nobody can make it in the modern world completely on their own. And just because you don't see your economic situation as above average doesn't mean you're not more priviledged than others.
A lot of folks do forego the lattes, fancy cars, phones and avocado toast to buy that home. I know a Chinese lady who bought a home in NYC after decades of hard work selling vegetables. I think it’s great if everyone got help buying a home. The crunch is real for everyone.
As an old retired white man born with all the the the unspoken advantages my position entitled me to have I only ask one thing. I ask that our society make a much greater effort to utilize the untapped talent of the now disadvantaged people of color. For my sake and the sake of my children it’s time we smartened up.
My adult son with autism lives in a group home and attends day habilitation. All his caretakers are people of color. Most of them are people of color with accents( immigrants). They have very difficult jobs. Parents expect them to be teachers. Administrators often ask them to do tasks that are undoable. The population they serve is also very challenging. Caretakers are never invited to meetings where decisions about their work is decided. They earn less than $15 hour. Some people who do this work earn as little as $10/hour. It is simply not true that you don't need smarts to work with someone with an intellectual or developmental disability. Actually the job requires a lot of smarts to know how to put your point across to someone who doesn't understand. You make some good points regarding housing and red lining, but it seems to me that the jobs that people of color tend to do are simply not respected and not as well paid as jobs that white people tend to do.
Literally because white managers won't hire people of color for good paying jobs... The same way bossy men are management material and bossy women don't know their place. 🙄
This is true. Same with jobs associated women. It take a lot of intelligence to be a teacher but they are not respected in America 😔
Love this presenter! The topic is so frustrating. I am forever banging my head against a wall when I hear people like my own elderly mother, who is not overtly racist, say things like, "The blacks should be grateful that they are no longer living in Africa" and "They have all the rights and opportunities whites do; that was what the civil rights movement took care of." As a southerner, she clearly wants to exonerate herself from any blame, but it prevents her from even acknowledging the problem, much less taking steps to fix the problem. I'm going to have her watch this video. thanks! #WarrenReich2020
Even as I am disappointed that there were no cartoons to depict the essence of the story, this was powerful truth telling.
or propaganda, dummy
Thank You for this video. I really enjoyed you putting it out there and telling it like it is! - Just a 58 year-old white guy.
This 50year old white lady also sees what is happening. Positive vibes from New Hampshire and remember to be kind.
Nice to hear from people in their 50s. I get so tired of the news saying all us old white people are right wing nationalists supporting the madman.
Not only are justice and fairness good moral decisions, it also makes a better society for all of us.
Our policies create poverty, and then we complain about having to use tax dollars to help take care of the poor.
I'm a 57 year old white guy. Yes, I've worked hard to have what I have. But I've had the advantage of being white. Every job interview I've gone to in my life was with a white person. Can't imagine how it would be to black in America, and every job interviewer and boss I ever get is white.
I mean, I agree that people don't know how to budget anymore, and that is a problem, but that isn't anywhere near the reason for our wealth disparity
Regarding incarceration, I've been watching a few episodes of "Beyond Scared Straight" and I've noticed that the majority of inmates are people of color. The difference was dramatic.
Many people fail to understand that prosperity for all makes life better for all. If everyone in the USA had a good job with a fair wage, access to health care and a good education, childcare, housing, and public transportation there would be less need for welfare, prisons, and other costly government programs.
It's important information to be sure just shameful we frame it without including Native Americans in these discussions.
Couldn’t agree more. Not far from here navajo nation has 3rd world living conditions and more than 50% unemployment
@Danny T The point, we continually and shamefully overlook, my point is, Native Americans/First Nation People WERE HERE BEFORE ALL OF US. Get past color and include ALL as human beings those holding the power make it about color to keep us divided. Yours is the sad logic because you buy into their narrative.
Excellent video introducing the topic of wealth inequality as it affects POC. I would like to see a series of these, explaining the discriminatory practices in more granular detail and presenting policy proposals that could address some of the inequities. btw Redlining originally wasn't just about racial differences - it was to keep out Jews and other marginalized groups out of certain neighborhoods too. But over time, particularly after WW2, the real estate and loan industries have focused their bigotry and discriminatory practices on POC.
Thank you for your knowledge!
This is sickening. I hate what these people did to us.
Robert Reich for President.
If not Australia could use a competent prime minister...
The head bobbing took away any gravitas her message was supposed to have. This is not how intellectuals speak.
Consider her targeted audience.
True...
@@edhuber3557 Her "targeted audience?" Way to be indirectly racist. Smh
@@Taylor-sj2mm Your 'crying wolf' desensitizes and degrades response to actual racism. But, I guess you can't help yourself; a hammer sees all as a nail.
1:26 but.... You just explained why redlining was done, and how it was a logical, and not racist. Those areas had a higher chance of defaulting, and when they gave them loans, they defaulte, and crashed the economy
The redlining story is always entertaining. The officials never set out to hurt blacks, they just found out that low income black neighborhoods were a terrible place to invest in. Even then, this wasn’t binding but rather guidance. On average everything was correct, in fact, if you were white living in a majority black neighborhood, you’d be discriminated against, not the other people around you.
Reality can be deduced in a similar way from the other stats presented. Median white wealth is so low, within a few decades blacks on average could easily achieve white levels by just saving a bit, as American wages are insanely high compared to even most European countries. But they won’t, because they prefer to squander their money, which people understood 300 years ago just as much as they do now.
She is very Persuasive.
Here's my story of resilience. My grandfather worked on a farm, and I was born into a lower income family. I simply did what we were all told as teenagers, which is save more than you spend, invest it and give it time to grow. It takes time, but we can all grow wealth with discipline and time. It's not rocket science, but it takes dedication and discipline. You can live above your means and never achieve true wealth, or save/invest, and generate generational wealth over time. It's not racial, it's behavioral.
It doesn’t matter how many facts you put on these videos because this was their plans all along and it’s working just fine in their favor.
Yes, let's hear those plans.
This was very informative. Many of the practices, I have been well educated about, but I love the refreshing look at why we say some of the same things that shame us when we make certain purchases. I know that in no way are you excusing frivolous spending, but we must correct many of the problems that have shamed us for decades.
I just came across this channel. I'm an Uruguayan that tries to understand her country, her region and the world (the goal is too ambitious I know) Anyway, understanding the US is key since what happens there affects us all. Thank you for this videos, they are really very helpful
You cannot talk enought about this. Please do a hundred more videos.
I am white and from the UK, I found it upsetting, it means the so called American dead is dead for many people.
Except perhaps on Oct.31, 'dead is dead'.
First off, having a budget and living within your means is crucial for everyone that is not extremely wealthy and perpetuating a victim mentality and not doing what is best at the individual level is not the way to go. Yes, there are systems, long established, in this country that make gaining wealth more difficult for minorities, but it is important to know what to do with what you have now, so that you’ll be better off in the future whether those systems change or not.
Such a stupid response. Even with this video, you still talk this nonsense. Shameful.
The only thing worse than people choosing to embrace their own stereotypes is people enforcing stereotypes on others.
Here’s two lines I get tired of being subjected to: “...you’re lucky to have an education and a home.” I’ve gotten this line from relatives. Some of whom I was raised with and had the same opportunities I did, but they chose what was easy for them. The other one is about how, “...(I)should quit complaining and be “grateful“ for what I have...”. That one‘s a classics. It was particularly annoying to hear during the NFL kneeling protests, as if those players didn’t bust their asses and sacrifice every day to become a professional athlete. All said, I’m sick of the implication that I didn’t work for what I have. That it was given and not earned.
I would like to see something about targeted advertising designed to keep minorities in debt.
You need to mention how Noam Chomsky pointed out that it is a deliberate policy of tougher incarceration laws on African Americans that do certain drugs versus white people who do other types of drugs with less harsh sentences.
Also, you need to point out that a large segment of the population: African-Americans, Hispanics as well as white people etc. give up due to the overwhelming odds against them that you mentioned and that this is the primary reason why they appear to be lazy or not trying harder but in reality they have been crushed to the point of simply giving up.
Mass incarceration was the latest line in systemic/structural racism in the consistent long history of racism in America, but I disagree that the wealth gap cannot be closed. Why? Becuase it's up to African Americans to unify under group economics to do so(while simulatanously vanguarding our gains), only through Black group economics will we have the ability to close the wealth gap within two generations and become a truly self-sufficent and indepentent(free), ethnic group in mass, otherwise, it's further down the rabbit hole.
I’m sick of ignorant racist people. I am a white woman that grew up in a wealthy family. I went to private schools and had the best of everything until my parents got divorced. My mother got a job and I went to public school. I am so glad this happened because I learned a lot about what black people go through the day I met my best friend who happens to be a beautiful black girl. However, even she didn’t know about everything her ancestors went through because they don’t teach anything about black history in school, only white history. Even in white history slavery is the only mentioned and even that is an afterthought.
I believe kids should be taught about other cultures and ethnic backgrounds in school. I believe this would give our, future generations the ability to have a greater understanding of their fellow Americans and what they have gone through then and now. I believe this kind of knowledge would give future generations the information they need to make they changes needed to not only fix the wealth gap but also create a nation where we can ALL more peacefully coexist. ☺️
Give all your money away
Thank you guys for this message. I have known this, however, you broke it down historically.💞✅
Except it’s not true. Coalition is not causation. There’s a lot of half truths and lies in this video. It’s just to push a narrative.
I try to forget it because I want to get along with everyone but I'm just tired now since I'm old. US is just so auto-segregation or self-segregation nowadays.
Unfortunately, this video is way too complicated for the residents of WingnutWorld. Just the story of red-lining would take hours to explain and even then, it would be rejected as fake history.
When you're getting $20 a day in disposable income, it isn't as easy as "saving". If you're lucky enough to have $20 at the end of the day you're still 0robably leading a depressing life working a dead-end job. It's to rationalize saving when you're always pissed off and hungry. Why can I watch videos of you for free here in a library in Indiana instead of get a state sponsored meal? I'm not kidding. God, I'm so fucking hungry.
Shameful is leaning into the neo-libearl Identity fighting, it's about rich Vs the not rich, not white Vs minorities, if we want to help poor minorities we need to help the poor period. Focusing on race just distract us from the real issue of class struggle and boost racist talking points on the other side.
Well, sorta. "Focusing on the poor" means addressing all the reasons why people are poor, right? Some of those reasons are based on race. Likewise, a full solution to poverty would include policies that target or compensate for past injustices, including those that are race-based.
You have to understand the past in order to avoid repeating it...
I'm not certain putting everything in terms of race is helpful. No question everyone not wealthy is falling behind, and the further behind you have been in the past, like black and hispanic people, the faster you are falling. But the real opponent of minority people is not 'white people', it's 'rich people'.
Throwing up barriers between working class people of colour and working class whites is only going to sew division where there should be unity, and ironically plays into the hands of the elites who want to keep you divided.
While this presentation is factual, it aims its guns at the wrong enemy.
Worked a corporate job in the day and worked at a supermarket distribution center at night for four months to get a down payment for a home. Not one single day off for those months and at times I was only able to get two hours of sleep. Father of three girls at the time (now four) and it was all worth it. Could not have done it without the support of my stay at home wife.
Thank you for the valuable information. Such an important topic. The only critique I can offer here would be to include the Indigenous Americans as well. Their voices and stories are continuing to be erased by American racism and greed. They've been struggling in this system for so long. Please don't forget about them.
Food, shelter, medical care...with the amount of wealth in this country (and the world), these things should be regarded as human rights, not something you have to sell your body and soul to get.
I didn't know about Redlining. Thank you! From what I could Wiki in a short time, its rise and fall can be traced historically. But it's effects and more subtle versions of similar practices remain. Too many dated references in those articles refer to 200# and 20##. Meaning, they are current issues that are still being dealt with. The "Melting Pot" idea seems to be that you have an advantaged class out of the fire who cooks everyone else still in the Pot.
We bought a house in Seattle's Capitol Hill neighborhood in '75. The bank didn't want to give us a loan because it was a mixed single/multiple occupancy block, and they were hoping the city would upzone to sell the land for more. There was an actual red line painted down the street, which we pointed out to them. Being a white couple, we got the house and loan. Not sure what the outcome would have been for a black couple.
Work hard, work long and pray brothers and sisters. You will be happy in the afterlife forever. What a scam.
Income inequality is so huge. My kids both work full time jobs and still cant afford rent because they aren't poor enough to qualify for affordable housing and to poor to afford rent. The good land lord policy keeps people from being able to rent because of credit history. Maybe that's just in my state idk. I just know they are ruining the country. The middle class is almost diminished.
You can blame capitalism for that.. it's the most greed and self profited... which is fine if everybody benefits from it.. but they don't..
Great video! I agree with everything in this video.
Solana is a great presenter. She should produce more videos here.
Loving the new content!
A good tie-in for this is the book "Merge Left: Fusing Race and Class, Winning Elections, and Saving America
"
by Ian Haney López. I'm reading it now.
AndrewYang 2020 Humanity First
How dark does a person's skin need to be in order to be considered a "person of color"?
They left out the real root of the problem and that is the export of manufacturing to outside contractors, allowing the transfer of wealth upwards.
The past definitely has an affect on the present but I believe the biggest obstacle we face is the victim mindset. Too often when we face adversity we turn and play the victim role to hide our fears or insecurities. We need to teach our children to be financially savvy, understand laws, understand economics, and to always be relentless, fearless, and hungry
Being aware of what's happening and speaking about it doesn't mean you have a victim mindset. If you stop acknowledging the issue then nothing will be done about it
@@jjthoughts9920 I agree, but there is a difference from having a victim mindset and simply being aware. Most people will say “I’m not where I want to be because of x or y” thats having the victim mindset
Although I mostly agree with this video, I don't like how it implies that wealth inequality is purely a race thing. Really, wealth inequality is a growing problem for everyone outside of the top 5%, and it hits minorities even harder. As a white person, that is the truly disturbing part, as bad as it is for my peers and me, it's even worse just a few blocks away.
Could you provide a list of sources in the video description or a link to a document citing sources? You have them in the video itself but it's easier to see them if there is a link or at least a document with full citations.
Don’t drink, don’t smoke, don’t pay for gold teeth, don’t buy $400 fake eyelashes, don’t buy fancy rims for your pimpmobile. Get a job; work hard and take advantage of your company’s 401-k while buying stock and or real estate. I met a middle aged black man who worked for a construction company. He had no special skills but had been using his spare earnings to buy rental properties of which he had 33 at the time. He had a plan and that didn’t include wasting money
Thank you, Dr. Reich! And, thank you to the lovely narrator. Such an important and much ignored topic.
Speak it woman! Thanks Robert! Wealth tax is needed to keep those that do at Bay.
But, but, all you need to do is work hard and you'll make it! You know, pull yourself up by your bootstraps! SMDH
That used to be true BUT the cost of living IS too great...
@@chattycathy8089 not true. I worked my ass off and never got ahead. Full time, 40 hours. Now I am permanently crippled and on SSDI. And stuck in poor housing.
Thank you for this outstanding information!
Black people need to be represented in all areas of education, politics, police, law, government, banking , finance and entry levels.
I'm an old white man who just turned 55 today. I've never found steady employment. I've never owned a new car. I have no retirement. I bought my first piece of new furniture in 2009. I'm unemployable due to a number of factors, and get told that I'm "not a culture fit." I'm on the fast track to being homeless if I cannot find a job that pays a dignified adult living wage.
At least I have privilege?
The color of true power and privilege is green.
I understand what you're saying, but you're losing me. As for a "reckoning," I'm sure that I'll eventually be punished for being white. The only good thing is that I will be dead soon. Happy birthday to me.
You are missing the point.
@@IndiaAniya25 I understood the point, and indicated that I did. You clearly glossed over why this is losing me. Go away.
@@IndiaAniya25 My brother-in-law is black. My ex and her family are Mexican. I don't live in a white bubble.
I do understand the racism and issues around that. The picture is bigger than this.
Every time someone talks about the evil white man, those with the real money and power smile and laugh about it. This takes all of the attention off of THEM.
It's like Republicans blaming brown powerless immigrants for everyone's problems. It's a distraction.
There is truth to the racism that non-whites experience. There is truth to what I experience. Life is complex. The world does not fit perfectly into boxes.
When it comes to life, you have missed the point.
@@DrumWild No. I understand class warfare very well. I also know that race has been a tool for the elite. That's why I don't believe white people are the issue. There are black elites and they could care less about poor blacks. But like you said life is complex so the effects of racism is extensive and the damage is extensive. So we have alot to fight against. I just think if each group doesnt have a better understanding of each other and how the system has set us up to fight against each other. As long as poor whites don't acknowledge racism and discrimination the elite will still win. As long as poor white only want to ensure their futures the elite will win.
It is called capitalism.
Who gives a shit about freedom to succeed Lmao, in an ideal system if the society succeeds we would all succeed
Actually, it's called Corporate Socialism for the wealthy, and Harsh Crony Capitalism for the rest of us.
When we have enough for everyone’s needs, as long as everyone is putting in the work they can :) leaves lots of time for leisure
@ThatGuyOnTheInternet you're literally a 14 year old mexican child who wears a maga hat and says femoid unironically, calm yourself matey
@@chaist94 But when you fail here, you sink to the bottom. I some "socialist" country's like a Sweden, you fail and there's a cushion. They have capitalism also. We have free market cronyism. Big difference.
Dashboards don’t lie. These are the fact-based statistics and numbers our society needs to embrace and resolve. Look at the real gages of our society, they are flashing bright red and in need of immediate action.
Great content! Thanks for sharing!
This is so true. Thanks for sharing because it matters.
on the subject of student loans: what people don't understand, is that college attendance will decrease if any would-be loaner would ask himself or herself, how much they have left after the monthly payment of bills and the loan, especially considering the availability of jobs. the question is no longer what you choose to study if a loan is a debt that you drag along with your life. to say nothing of the impact that this would have on knowledge and education.
God this is depressing
I make 225,000 dollars and I spend 30,000 to live a relatively comfortable life with my family while putting the rest in saving, bonds, and mortgage. We are a family of three in LA. Tell me budgeting isn't part of the problem.