The Racist History Behind the U.S. Racial Wealth Gap | Doha Debates
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- เผยแพร่เมื่อ 16 ก.พ. 2021
- Generations of slavery, followed by predatory financial practices and housing discrimination, have stolen opportunities - and billions of dollars - from Black Americans and widened the U.S. racial wealth gap. Could reparations begin to equal the playing field?
To learn more about the racial wealth gap, check out "The Color of Money: Black Banks and the Racial Wealth Gap" by Mehrsa Baradaran: bit.ly/3ub9ThH
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#RacialWealthGap #WealthGap
I never knew the reason blacks distrusted banks I’ve heard my grandparents talk about their distrust in banks I never knew what happened to create that distrust
You were taught wrong. You don't need a Bank or be a certain color to buy and collect Silver Eagles or Dividend Stocks. There are many ways people get rich without a bank. The Democrats keep fooling people to stay exactly where they are.
This is one of the best videos I've seen on TH-cam. This channel did a great job of explaining the racial wealth gap, which I believe is one of the most significant issues in American society. I definitely plan to share this video with others so they can be enlightened on this important topic.
All this video does is confuse people, it's far from the reason for the wealth gap. A bank is a business that has to assess risk in order to make money. If there was money to be made, any group of people would be getting these loans. The wealth gap has a lot to do with values.
More African Americans would be in the position to earn wealth, if in every profession, they didn't need to navigate and overcome so much bias. In the past, systemic racism was pervasive and it was made legal by the United States government. Some would argue the remnants of systemic racism are still a challenge, but thankfully many racist laws have been repealed since the Civil Rights Act. However, that didn't stop individual bias, which is now the current fight against racism. In my two industries, for example, which are education and real estate, bias runs rampant. The vast majority of America's homebuyers and sellers are white, and they only hire white realtors. Many black realtors, and black realtors in particular, are avoided by the nation's buyers and sellers.This results in a high turnover of black agents being forced to leave the real estate industry, because they aren't being hired as often as white real estate agents.
In education, the vast majority of principals who interview teachers for teaching positions at their schools are white females. In my 20 years in education, I've noticed there is a preference for white females, because the principals are white females. Far too often, principals will choose teachers who remind them of themselves, especially in affluent communities where public schools tend to be better supported and teachers get paid more. Affluent neighborhoods is where you will see a high concentration of white female educators and hardly any black educators with classrooms. The black educators are all concentrated in the worst schools in America, because those are the only schools that give black educators opportunities to teach.
Not every black person is equipped with the skills necessary to navigate bias. Many people now assume racism is over, so they don't prepare their children for bias, especially bias that is difficult to prove. After many years of trying to get accepted, some black job applicants (with college degrees) might give up out of frustration because they are either unaware they're being discriminated against or they know it, but it would difficult to prove and too complicated to address with certainty.
To rid ourselves of bias that prevents people from having a decent job, people everywhere must realize accepting differences in the workplace isn't limited to accepting different skin colors. That is minimal acceptance. You are not truly being accepting of others in the workplace if the people you accept are brown, but they must also talk like you, be like you, and remind you of people you already know. Remember, there are different ways of being, which you must also accept.
Stellar job
Honestly - I LOVED! This video and the solutions suggested. Brilliant!! Really I've never heard of that and I'm from South AFrica where we do have a reparations programme called - Broad Based Black Ecpnpmic Empowerment. (BEE) that encourages private businesses to involve black people in business operations. Which is a good Idea but falls short when you consider the high unemployment rates in the country. With one of your solutions - Down payment assistance funds, I think - could actually help to improve the living conditions here. Sorry for the whole essay but this video got me so inspired!
This is a HORRIBLE video, it's not the reason for a wealth gap. You can take everything away, completely remove racism and in ten years everything would be exactly the same. Good Values, ambition, understanding trade and barter, what causes inflation, assets vs liabilities, networking are some of the things you need to succeed. For example, trade skills, collecting silver eagles, dividend stocks, will put you in a place to find success rather than a political science degree, chrome rims and Louis Vuitton Bags.
excellent video
@@PoldarkGodzilla these are not stones. These are facts. What youre doing is throwing stones from a glass house
The case for reparations comes down to one simple question. How long will you allow your nation to be a caste system that was created by human rights violations.
The answer is Forever. We just have to get them to say it out loud
@@TroyBrownTV FOREVER BULLSHT.
@@enoughalready8413 your use of all caps demonstrates the ferocity with which hWite Supremacists hate being called out
Explain why recent Nigerian immigrants to this country do better than blacks whose families have been here for centuries. It's not skin color or caste system, it's CULTURE and ATTITUDE.
@@TroyBrownTV "Forever" is what people say when they have been brainwashed into an entitlement mentality. Nobody alive today owes you ANYTHING. Get off your lazy @ss and get a job.
In 2021 it is still going on I just lived it for 45yrs in San Diego California
I disagree with the emphasis on closing various types of gaps. If this means some groups or individuals accelerate away from others, so be it. It is my understanding that we benefit greatly from the culture and technology which largely comes from those with Westen values and who have IQs over a 120. So I'm not okay diverting academic resources away from those that are cognitively gifted just so you can close gaps. Also, schools will naturally exacerbate gaps because individuals that are fast learners (high g) will accelerate away from the low g students. Schools don't need to close all the gaps. Don't throw all your money at the smart kids, and don't throw all your money at the slow ones either. It is especially important that you don't throw all your money at the students that are learning English as a second language. I'd hate for music, robotics, or archery classes to be deprioitized relative to special ed and ESL courses.
If depends if you never had, then never and had help to know how to understand money.
How does it explain the first generational immigrants ( usually POC ) who not only become home owners but also business owners? I know many immigrants who told me that they came to America with $ 5 in their pocket and became successful.
I think using the model minority myth isn’t a good way to look at this situation.Having this type of perspective is a way of generalizing groups of people to then ignore or dismiss the racism other groups of people face. Yes, there’s definitely individual actions that can be done to better one’s life/wealth. Although I do not think that hard work and strong family values alone will be able to solve the problems of racism in our society and the negative economic consequences black people face from more than two centuries of black enslavement.
A few months after Congress passed the Voting Rights Act of 1965, Congress passed the Immigration Act of 1965. This explains why Asians thrive in communities of color by opening Beauty Supply stores and Chop Sueys, and why Middle-Easterns thrive in black communities by purchasing gas stations and liquor stores. None of the immigrants live in the community, but a large portion of the community’s income goes to them.
If you really were looking for the answer to your question, there you go.
@@greendiamond1013Well said, a form of gaslighting without acknowledging the underlying issue. These gaps don't exist just out of laziness but generational and profound systemic problems not caused by black Americans.
It's because immigrants have better values and a better work ethic.
@@greendiamond1013You have a wasted education, you're full of excuses.
This is intentional they know what they're doing and what they have done
They don't have to intentionally do anything, anybody with your mentality will find a way to lose. With a comment like that, you already have it in your head that you can't win.
The government can just give a house to every adult with full ownership like what the western land grab did for whites in the 1860’s and 70’s. also a comprehensive public health care system and public college. With that stability people can help themselves
The government didn't give out houses back then. They allowed you to "homestead" on it. You cleared the land, built a house, and raised crops on it YOURSELF at your OWN expense. Only after a number of years (and in some cases paying taxes on the land) were you able to get a deed to that property. That's FAR different than demanding that somebody else build a house at THEIR expense just to give it to YOU.
@@eastbaykidd8574 If people were not prevented at gun point from building their own houses on the earth that we all share then my point is made. As a builder i would welcome a world where i had housing with my own hands and room to raise all the food i needed as i help others who weren’t able to build their own houses. If this replaced the money or scam system of meeting human needs and greeds I would be happy. In the land grant system of the 1860’s bankers claimed land they never saw thru the magic of politics. The very premise is arrogant and cruel. Tell me this, why is it okay for some to pay for the gifts of the earth while others claim ownership and collect the payments including the labor of others? You can call them governments or whatever you like but it is beyond debate that they are only human beings like those they subjugate.
@@davidcanatella4279 "If people were not prevented at gun point from building their own houses on the earth" - What are you even babbling about?
@@eastbaykidd8574 If you have the dough your good otherwise you’re under arrest. Arrest is gun point
@@davidcanatella4279 WTF are you even talking about?
I like and would support a few of your ideas: Down payment assistance, fully funded child care, and business grants are really hard to argue against. However, creating opportunities means little if SEIZING opportunity in not practiced.
Yeah, none of that would work.
Like 1/10th of their wealth
Yeah, barred because of the colour of your skin you were born with... 🤦🏻♂️F*ck!
This is brutal ☹️
Same with homelessness too I think...
Not to be confused with affirmative action which bans some people from colleges and jobs due to the color of their skin
Well this was dumb lol
Sounds like you're talking about YOURSELF!
Why dont you talk about asian americans as well, or hispanics???
Because their population was inconsequential at that time in America. Asians and Hispanics would have been considered “Colored” at that time. A lot of them owe Black Americans gratitude for civil rights. There are “Black” Asians and Hispanics also. If you separate the skin colors I’d bet you my paycheck that the Darker skinned of these groups are poorer. India’s the same way. South Africa. Pretty much the world...
@@calculatedrisk1 Bravo! Explained well.
Because they dont go through what black folks go through, and believe me you dont want to, it's like GOD took a piss on us honestly
Because that's not what this video is about. There are plenty of other channels on youtube. I'm sure u can find what you're looking for there
ADOS is a unique group in the United States based on history, experiences, and contributions therefore their justice claim has nothing to do with other groups.
It’s been sitting on my mind for a minute but today I decided to ask myself how every single white person just randomly are spawning wealth
I wondered that myself, I certainly don't have any, nor do most other white people I know.
I suppose if you grew up in the coal mine counties of west Virginia and didn’t become wealthy it was your own fault for not taking advantage of your white privilege
It's still going on today here in California
The phrase 'racial wealth gap' is one of the most racist I have ever heard.
I'm white and looking at my bank account and hey I'm not seeing it. Where's my white wealth? I'm ok with you pinning this unfair and unequal racial wealth gap on me, as long as you give me the money first.
Sounds like guilt and hate bc your pathetic lineage couldn't capitalize on a system built for them 😂😂
America is not capitalist.
What woul you define it as?
@@FinanceNation an oligarchy.
@@jutsu1 an aristocracy....? Ha ha lol! Happy New Year!
@@FinanceNation a corrupt oligarchy. Happy new year.
@@FinanceNation it’s not real capitalism like Hong Kong or Scandinavian countries ( with less government regulations) it’s crony capitalism.
My parents were able to purchased a home in 1960, and have paid the house in full around 1988. Please stop with the nonsense people rent because they want to rent. Black people are not victims!!!
It’s only getting worse? Don’t you think that some of those losses are the fault of the individual. You don’t need to start out with wealth to gain anything, all you need is to work hard apply yourself. Everything can’t be blamed on others, but most problems are because of government. There’s practices are not done anymore. I’ve seen black men work their way up to have millions and not one of them were handed money.
How is hard work putting a stop to systemic racism? Did you watch the video? Blacks getting denied housing and education has nothing to do with the individual.
Liberals use white success to scapegoat other people’s problems the same way Hitler blamed the Jews.
In todays age there definitely needs to be accountability for the individual when I comes to the financial choices they make. Although I’m not going to sit here and act like systematic racism is not something that’s no longer prevalent within our society that typically makes it easier for white people to attain wealth compared to black people. Along with that actions have consequences. So the consequences from historical actions can be something the factors into this issue as well since there’s an impact from it.
@@greendiamond1013 if every other race can attain success, even black immigrants, why cant people born here? Nigerians if I'm not mistaken do better on average than white muricans. Lotta people come here not speaking the language and do great. Jews lost everything 80 years ago and are back on top. Seems like one group has all the problems and blames an entire group like it isnt horribly hypocritical and racist to do so, seeing as how the average white guy has little to no power, but a share in the poor life choices of other individuals. School and family determine wealth, Asians do it best, others dont, and that is something nobody but the individual can control, so none of that exception for the rule BS like people do with powerful whites vs the average Joe.
If thats wrong tell me how ya know. I didnt make anyone but myself drop out and have a kid outa wedlock, I cant blame anyone but myself, so why does anyone get to blame me when they do the same?
If depends if you never had, then never and had help to know how to understand money.
America needs to breakup. Whites in a white country, blacks in a black country.
No....
@@FinanceNation yes, and why not?
@@jutsu1 racist...And a lot of blacks don't like me. So I don't need to like them in return...peace
@@FinanceNation no, it's not racist....... If whites create racism if no whites and no blacks, no racism. Any racism in Africa?
@@jutsu1 yes there is racism in Africa...apartheid isn't that long ago....however...you and I disagree on the other point