Post by Deleted on Aug 31, 2021 14:43:18 GMT
The fact is that white racism is serious business.
Literally.
Now when I say this, I am not just talking about the millions grifters on the right make expoiting the racial animosity of the right wing base. No, I am talking about even more serious business.
“It will end up costing the U.S. economy as much as $1 trillion between now and 2028 for the nation to maintain its longstanding black-white racial wealth gap, according to a report released this month from the global consultancy firm McKinsey & Company. That will be roughly 4 percent of the United States GDP in 2028—just the conservative view, assuming that the wealth growth rates of African Americans will outpace white wealth growth at its current clip of 3 percent to .8 percent annually, said McKinsey. If the gap widens, however, with white wealth growing at a faster rate than black wealth instead, it could end up costing the U.S. $1.5 trillion or 6 percent of GDP according to the firm.”
Brentin Mock, “White Americans’ Hold on Wealth Is Old, Deep, and Nearly Unshakeable”
www.mckinsey.com/industries/public-and-social-sector/our-insights/the-economic-impact-of-closing-the-racial-wealth-gap
I ain't talking about 1869, or by 1928. The statement says 2028. Just over 6 years from now. Get it? If racism was such a thing of the past why does this exist? I suggest you guys read the study before you come back with your leftist propaganda garbage.
But this was not the first warning.
In 2011, DEMOS did a study named “The Racial Wealth Gap, Why Policy Matters”, which discussed the racial wealth gap, the problems associated with it along with solutions and outcomes if the gap did not exist. In this study DEMOS determined that the racial wealth gap was primarily driven by policy decisions.
“The U.S. racial welth gap is substantial and is driven by public policy decisions. According to our analysis of the SIPP data, in 2011 the median white household had $111,146 in wealth holdings, compared to just $7,113 for the median Black household and $8,348 for the median Latino household. From the continuing impact of redlining on American homeownership to the retreat from desegregation in public education, public policy has shaped these disparities, leaving them impossible to overcome without racially-aware policy change.”
www.demos.org/sites/default/files/publications/RacialWealthGap_2.pdf
On October 24, 2013, the Kellogg Foundation sent out a press release about a report they had done entitled, “The Business Case for Racial Equity”. This was a study done by the Kellogg Foundation, using information it had studied and assessed from the Center for American Progress, National Urban League Policy Institute, Joint Center for Political and Economic Studies and the U.S. Department of Justice.
“Striving for racial equity – a world where race is no longer a factor in the distribution of opportunity – is a matter of social justice. But moving toward racial equity can generate significant economic returns as well. When people face barriers to achieving their full potential, the loss of talent, creativity, energy, and productivity is a burden not only for those disadvantaged, but for communities, businesses, governments, and the economy as a whole. Initial research on the magnitude of this burden in the United States (U.S.), as highlighted in this brief, reveals impacts in the trillions of dollars in lost earnings, avoidable public expenditures, and lost economic output.”
The Kellogg Foundation and Altarum Institute
wkkf.org/resource-directory/resources/2018/07/business-case-for-racial-equity
I suggest you guys read the study. The download is free. You see, I've read these things and I consistently get argued with by people who haven't who think that just because they have an opinion that an unlearned opinion has the correct answers.
But despite these warnings over the years, we hear and read the same junk from the same sources on the right. It's all liberal propaganda. Meanwhile our deficit increases and our economy struggles. "But IM2 this has nothing to do with the deficit, we just need to quit spending, that will solve the problem, Race has nothing to do with that," is what some will say. I'll get to that one shortly.
Nearly one year ago, last September in fact, Citigroup released a study. I have shown this study before but our so called intellectually brilliant trump supporters still refuse to see the picture.
Since 2000, U.S. gross domestic product lost that much as a result of discriminatory practices in a range of areas, including in education and access to business loans, according to a new study by Citigroup. Specifically, the study came up with $16 trillion in lost GDP by noting four key racial gaps between African Americans and whites:
$13 trillion lost in potential business revenue because of discriminatory lending to African American entrepreneurs, with an estimated 6.1 million jobs not generated as a result
$2.7 trillion in income lost because of disparities in wages suffered by African Americans
$218 billion lost over the past two decades because of discrimination in providing housing credit
And $90 billion to $113 billion in lifetime income lost from discrimination in accessing higher education
ir.citi.com/NvIUklHPilz14Hwd3oxqZBLMn1_XPqo5FrxsZD0x6hhil84ZxaxEuJUWmak51UHvYk75VKeHCMI%3D
That 16 trillion dollars lost from 2000 until the publication of that study amounted to 800 billion dollars lost per year. That 13 trillion in lost business revenue averages 650 billion annually in lost business revenue that could have created approximately 6.1 million jobs. That 2.7 trillion of lost income avegages 135 billion dollars of lost taxable revenue annually. This is money that would circulate through the economy with part of it returning to government as revenue. This money would have reduced the deficit between what the government takes in and what it spends. We're talking about losing 800 million dollars annually that would be a huge economic stimulus and it is because of racism.
Racism is not just one individual being mean to another one. It's time some people learned that. But of course this is just leftist propaganda, it's the democratic party telling blacks that we are victims so the can keep getting our votes.
Yeah, that's the ticket!
Literally.
Now when I say this, I am not just talking about the millions grifters on the right make expoiting the racial animosity of the right wing base. No, I am talking about even more serious business.
“It will end up costing the U.S. economy as much as $1 trillion between now and 2028 for the nation to maintain its longstanding black-white racial wealth gap, according to a report released this month from the global consultancy firm McKinsey & Company. That will be roughly 4 percent of the United States GDP in 2028—just the conservative view, assuming that the wealth growth rates of African Americans will outpace white wealth growth at its current clip of 3 percent to .8 percent annually, said McKinsey. If the gap widens, however, with white wealth growing at a faster rate than black wealth instead, it could end up costing the U.S. $1.5 trillion or 6 percent of GDP according to the firm.”
Brentin Mock, “White Americans’ Hold on Wealth Is Old, Deep, and Nearly Unshakeable”
www.mckinsey.com/industries/public-and-social-sector/our-insights/the-economic-impact-of-closing-the-racial-wealth-gap
I ain't talking about 1869, or by 1928. The statement says 2028. Just over 6 years from now. Get it? If racism was such a thing of the past why does this exist? I suggest you guys read the study before you come back with your leftist propaganda garbage.
But this was not the first warning.
In 2011, DEMOS did a study named “The Racial Wealth Gap, Why Policy Matters”, which discussed the racial wealth gap, the problems associated with it along with solutions and outcomes if the gap did not exist. In this study DEMOS determined that the racial wealth gap was primarily driven by policy decisions.
“The U.S. racial welth gap is substantial and is driven by public policy decisions. According to our analysis of the SIPP data, in 2011 the median white household had $111,146 in wealth holdings, compared to just $7,113 for the median Black household and $8,348 for the median Latino household. From the continuing impact of redlining on American homeownership to the retreat from desegregation in public education, public policy has shaped these disparities, leaving them impossible to overcome without racially-aware policy change.”
www.demos.org/sites/default/files/publications/RacialWealthGap_2.pdf
On October 24, 2013, the Kellogg Foundation sent out a press release about a report they had done entitled, “The Business Case for Racial Equity”. This was a study done by the Kellogg Foundation, using information it had studied and assessed from the Center for American Progress, National Urban League Policy Institute, Joint Center for Political and Economic Studies and the U.S. Department of Justice.
“Striving for racial equity – a world where race is no longer a factor in the distribution of opportunity – is a matter of social justice. But moving toward racial equity can generate significant economic returns as well. When people face barriers to achieving their full potential, the loss of talent, creativity, energy, and productivity is a burden not only for those disadvantaged, but for communities, businesses, governments, and the economy as a whole. Initial research on the magnitude of this burden in the United States (U.S.), as highlighted in this brief, reveals impacts in the trillions of dollars in lost earnings, avoidable public expenditures, and lost economic output.”
The Kellogg Foundation and Altarum Institute
wkkf.org/resource-directory/resources/2018/07/business-case-for-racial-equity
I suggest you guys read the study. The download is free. You see, I've read these things and I consistently get argued with by people who haven't who think that just because they have an opinion that an unlearned opinion has the correct answers.
But despite these warnings over the years, we hear and read the same junk from the same sources on the right. It's all liberal propaganda. Meanwhile our deficit increases and our economy struggles. "But IM2 this has nothing to do with the deficit, we just need to quit spending, that will solve the problem, Race has nothing to do with that," is what some will say. I'll get to that one shortly.
Nearly one year ago, last September in fact, Citigroup released a study. I have shown this study before but our so called intellectually brilliant trump supporters still refuse to see the picture.
Since 2000, U.S. gross domestic product lost that much as a result of discriminatory practices in a range of areas, including in education and access to business loans, according to a new study by Citigroup. Specifically, the study came up with $16 trillion in lost GDP by noting four key racial gaps between African Americans and whites:
$13 trillion lost in potential business revenue because of discriminatory lending to African American entrepreneurs, with an estimated 6.1 million jobs not generated as a result
$2.7 trillion in income lost because of disparities in wages suffered by African Americans
$218 billion lost over the past two decades because of discrimination in providing housing credit
And $90 billion to $113 billion in lifetime income lost from discrimination in accessing higher education
ir.citi.com/NvIUklHPilz14Hwd3oxqZBLMn1_XPqo5FrxsZD0x6hhil84ZxaxEuJUWmak51UHvYk75VKeHCMI%3D
That 16 trillion dollars lost from 2000 until the publication of that study amounted to 800 billion dollars lost per year. That 13 trillion in lost business revenue averages 650 billion annually in lost business revenue that could have created approximately 6.1 million jobs. That 2.7 trillion of lost income avegages 135 billion dollars of lost taxable revenue annually. This is money that would circulate through the economy with part of it returning to government as revenue. This money would have reduced the deficit between what the government takes in and what it spends. We're talking about losing 800 million dollars annually that would be a huge economic stimulus and it is because of racism.
Racism is not just one individual being mean to another one. It's time some people learned that. But of course this is just leftist propaganda, it's the democratic party telling blacks that we are victims so the can keep getting our votes.
Yeah, that's the ticket!
