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NCRC Community Development Fund, a subsidiary of the National Community Reinvestment Coalition, lends primarily to Black, Latino, women, and immigrant entrepreneurs and business owners throughout the country with its mission to help bridge the racial wealth divide by supporting entrepreneurship and affordable homeownership in America's underserved communities.Its new lending platform – for which it is also building an algorithm to determine loan eligibility – stands to make the roughly 10-person operation more efficient, Marisa Calderon, NCRC CDF's executive director, said in a recent interview.This episode of the CRA Podcast addresses the promise of CDFI lending, partnerships with financial institutions to support the continuum of capital for disadvantaged communities, and how the Community Development Fund is also building a new lending platform leveraging AI to not only support efficiencies in their operation but also for others in the CDFI industry. Marisa Calderon's Bio and ExperienceMarisa Calderon is an experienced executive who is regularly recognized, awarded and cited nationwide for her expertise in the housing and financial services industries. She has over two decades of experience dedicated to the issues of economic mobility and bridging America's racial wealth gap. Marisa Calderon is the executive director at NCRC Community Development Fund (NCRC CDF), a nonprofit, U.S. Treasury-certified community development financial institution (CDFI) that provides loan capital to expand access to affordable homeownership, which helps Black-, Brown- and woman-owned businesses thrive. Under her leadership in her first 18 months at NCRC CDF, they deployed over $17 million in capital to historically underserved Black, Latino, immigrant, and women entrepreneurs through their small business and investment programs, earning them a place on Fast Company's list of 2022 Most Innovative Companies in the World. She is also chief of community finance and mobility at the NCRC CDF's parent company, the National Community Reinvestment Coalition (NCRC), where her work focuses on advancing economic mobility for communities impacted by systemic inequality and disinvestment. Marisa is ranked on the Swanepoel Power 200 as one of the most powerful leaders in the residential real estate industry, and was twice named a HousingWire Woman of Influence in 2018 and 2021 for her work in increasing real estate and mortgage professionals' understanding and appreciation of the Hispanic home-buying market. In 2021, she was named one of Diversity Journal's Women Worth Watching in Leadership and was featured in Hispanic Stars Rising: The New Face of Power and was recognized on Women We Admire's list of the Top 50 Women Leaders in Finance of 2022. Frequently sought out as an expert on affordable housing, lending and immigration, Marisa has been interviewed by numerous publications and media outlets, including NPR's Marketplace and does regular public speaking at industry and general market events, including Mortgage Banker's Association, FDIC, Consumer Federation of America, National Fair Housing Alliance, and many others. In addition to this work, Marisa is also a board member of the non-partisan political action committee, Latinas Lead California and a Senior Advisor to America's Homeowner Alliance.CRA Today Website: https://cratoday.com/ CRA Hub: https://cratoday.com/hubLinda Ezuka, LinkedIn https://www.linkedin.com/in/linda-ezuka-cra-today/Copyright © 2023 by CRA Today LLC(No claim to original U.S. government material)All rights reserved. No part of this podcast may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, including electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of the author and publisher.This podcast is a periodic publication of CRA Today LLC and is intended to notify and inspire recipients of new developments in the Community Reinvestment Act. It should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own attorney concerning your situation and specific legal questions you have.
The hard work we put in today are all for the same dream that one day, our children, the next generation, will live a life far better off than where we stand today. In order to get to that future vision, we have to focus on our present direction. In this episode I am joined by Angel Investor and General Partner of High Street Equity Partners, Mitch Brooks. We will talk about closing the equity gap and building family wealth for the future generations. Mitch shares detailed steps on how you can change your financial trajectory. We discussed the two key ways on how to address the gap, getting over the barrier of access to capital, debt and equity investment, home ownership and entrepreneurship, and more. All crucial steps to reach your financial goals and dreams for yourself and your family. It's time that your dreams finally become your reality! Highlights: >> Defining the Equity Gap >> The gateways to change the financial picture for generations to come >> Getting over the barrier of access to capital >> Venture capital >> Debt Investment vs. Equity Investment >> Giving a percentage of Equity of Ownership to the right partner/s >> Private Equity >> The importance of Entrepreneurship in closing the equity gap especially for people of color Connect with Mitch: >> Instagram: https://instagram.com/mitchbrooks?igshid=YmMyMTA2M2Y= (https://instagram.com/mitchbrooks) >> Twitter: https://twitter.com/mitchbrooks?t=jKUJJFLRts9aVf0G_yL76g&s=09 (https://twitter.com/mitchbrooks) >> LinkedIn: https://www.linkedin.com/in/mabiv (https://www.linkedin.com/in/mabiv) >> Linktr.ee: https://linktr.ee/mitchbrooks (https://linktr.ee/mitchbrooks) >> Email: grow@highstreetequity.com >> Website: https://www.highstreetequity.com/ (https://www.highstreetequity.com/) If you loved this episode, you have to listen to these episodes as well: >> https://www.minoritymoneypodcast.com/2020/06/03/getting-out-of-poverty-creating-wealth-with-dr-david-rhoiney/ (Getting out of Poverty & Creating Wealth with Dr. David Rhoiney) >> https://www.minoritymoneypodcast.com/2019/09/13/utilizing-your-financial-why-to-help-change-the-racial-wealth-gap/ (Utilizing Your Financial Why to Help Change the Racial Wealth Gap) >> https://www.minoritymoneypodcast.com/2021/03/01/bridging-the-racial-wealth-divide-with-dedrick-asante-muhammad-black-history-month-special/ (Bridging the Racial Wealth Divide with Dedrick Asante-Muhammad [Black History Month Special]) I'm sure you're getting tons of value from the podcast! Don't forget to subscribe on Apple Podcasts (https://apple.co/3jN77Mv (https://apple.co/3jN77Mv)), Spotify (https://spoti.fi/3jParH0 (https://spoti.fi/3jParH0)), Google Podcasts (https://bit.ly/3n3i8vb (https://bit.ly/3n3i8vb)), or on your favorite podcast app and SHARE THIS
Senior student loan advisor Lauryn Williams, CFP®, CSLP®, sits down with one of SLP's newest student loan advisors, James Mwombela, CFP®, to discuss the racial wealth divide and how it has impacted Black Americans' ability to create wealth. The basis for today's conversation is a Wall Street Journal article written in August 2021 titled “College Was Supposed to Close the Wealth Gap for Black Americans. The Opposite Happened.” In today's episode, you'll find out: Why Black college graduates have a lower net worth in the 2020s than in the 1990s What is net worth and why does it matter Slow income growth and other causes of low net worth for Black households How student loan debt is affecting college graduates now versus 30 years ago How this phenomenon has impacted the lives of young Black graduates today About the history of the racial wealth gap Why homeownership is significantly lower for Black graduates The role of homeownership in wealth building How the lack of financial literacy stops net worth in its tracks Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify or Google Podcasts Leave an honest review on Apple Podcasts Follow on Facebook, Twitter, or LinkedIn Feeling helpless when it comes to your student loans? Try our free student loan calculator Check out our refinancing bonuses we negotiated Book your custom student loan plan
Growing up, we often looked up to those that have achieved what we aspire to be– but for minorities, it can be hard to progress in a world where we don't see people of color succeed, or we find that they have much bigger hurdles to overcome. It can be intimidating, but that is exactly why we need to face these issues and create the space for change to take place. For this week, I'm joined by Valerie Rivera, a certified financial planner who risked everything to start her own firm. As first-generation money, the risk she took is something I'm sure a lot of us are familiar with at different scales. Join our conversation as Valerie shares with us important parts of her journey I'm sure you'll resonate with! Highlights >> How Valerie started her financial planning journey >> Striking a balance between being authentic and financial gains >> Being the first generation money Connect with Susanne: >> https://www.linkedin.com/in/valerie-a-rivera-cfp%C2%AE-3a1b775/ (LinkedIn | Valerie A. Rivera, CFP®) If you loved this episode, you have to listen to these episodes as well: >> https://minority-money.captivate.fm/episode/success-for-minority-teens-with-carlos-gomez (Episode 88: Success for Minority Teens with Carlos Gomez) >> https://minority-money.captivate.fm/episode/bridging-the-racial-wealth-divide-with-dedrick-asante-muhammad-black-history-month-special (Episode 85: Bridging the Racial Wealth Divide with Dedrick Asante-Muhammad) >> https://minority-money.captivate.fm/episode/making-the-financial-industry-more-inclusive-with-lazetta-braxton (Episode 68: Making the Financial Industry More Inclusive with Lazetta Braxton) I'm sure you're getting tons of value from the podcast! Don't forget to subscribe on Apple Podcasts (https://apple.co/3jN77Mv) , Spotify (https://spoti.fi/3jParH0) , Google Podcasts (https://bit.ly/3n3i8vb), or on your favorite podcast app and SHARE THIS
While a lot of companies talk the talk, only a handful ever walk the walk and stand by their promises to be inclusive towards minorities. While indeed the world is changing, the fight is far from over to have financial education and opportunities available to our people. For this episode, I've invited Lazetta Braxton, co-CEO of 2050 Wealth Partners, and a social entrepreneur that aims to amplify diversity, inclusion, and equality in the financial planning profession. It is through her own consulting firm, Lazetta & Associates, that she is able to create her own change by employing a “no fear, no shame” zone so her employees and associates feel like they are in a safe space. The change begins with you, so hop in on this episode and check out how Lazetta can help! Highlights >> Using Human Capital for Social Change >> Older Firms Aren't Keeping Up >> Leaving a Legacy >> Lazetta's Financial Tip Connect with Susanne: >> https://twitter.com/lazettabraxton?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor (Twitter | @lazettabraxton) If you loved this episode, you have to listen to these episodes as well: >> https://minority-money.captivate.fm/episode/success-for-minority-teens-with-carlos-gomez (Episode 88: Success for Minority Teens with Carlos Gomez) >> https://minority-money.captivate.fm/episode/bridging-the-racial-wealth-divide-with-dedrick-asante-muhammad-black-history-month-special (Episode 85: Bridging the Racial Wealth Divide with Dedrick Asante-Muhammad) >> https://minority-money.captivate.fm/episode/making-the-financial-industry-more-inclusive-with-lazetta-braxton (Episode 68: Making the Financial Industry More Inclusive with Lazetta Braxton) I'm sure you're getting tons of value from the podcast! Don't forget to subscribe on Apple Podcasts (https://apple.co/3jN77Mv) , Spotify (https://spoti.fi/3jParH0) , Google Podcasts (https://bit.ly/3n3i8vb), or on your favorite podcast app and SHARE THIS
Researchers are starting to understand ways to close the racial wealth gap. In this episode, we explore several evidence-based solutions to support racial wealth building. The strategies are a part of a curated list from What Works for Health and are rated for their effectiveness on closing disparities, or the differences between groups. We're joined by our colleague, Michael Stevenson, the team leader for Evidence and Policy Analysis at County Health Rankings & Roadmaps, to discuss a range of strategies his team has studied and rated.
In this episode, we explore reparations as a possible solution to bridging the racial wealth divide. We're joined by Dr. Andre Perry, a senior fellow with the Brookings Institution and a scholar-in-residence at American University. Perry has authored the book, Know Your Price: Valuing Black Lives and Property in America's Black Cities and co-authored a Brookings policy brief: “Why we need reparations for Black Americans.” Perry argues that reparations are not only the solution, but they're also the morally right thing to do.
The 20th century is full of deliberate acts to restrict Black families from building wealth in this country. In this episode we're joined by Dr. Dalton Conley, a Princeton University professor and author of Being Black, Living in the Red. Conley traces the massive wealth divide to the enslavement of human beings and follows it through Reconstruction, the New Deal, redlining, the G.I. Bill, and beyond. Conley suggests a race-neutral solution may be the most effective way to close the wealth divide.
It started with the enslavement of human beings and persists today. The racial wealth divide is among the most consequential factors in the inequitable way people experience life – and death – in this country. In this episode, we welcome our colleague, Dr. Christine Muganda, a scientist with County Health Rankings & Roadmaps, to shed light on what the research says about wealth inequality. Some staggering statistics: Black families in this country have just one-tenth of the wealth of white families. Racial differences are far more pronounced in wealth than in income. Ultimately, the differences in wealth and the ability to build it, can impact health and well-being for generations.
The idea of collective action for the common good has slowly given way in this country to private and for-profit … by design. If we're going to improve health and health equity for everyone, we have to understand the shift away from the things once considered sacred public goods (i.e., public schools, transportation, infrastructure, and investment in all communities). In this episode, we talk with author Donald Cohen, who recently published The Privatization of Everything: How the Plunder of Public Goods Transformed America and How We Can Fight Back, to find out how we got here and how we can return to a mindset of social solidarity.
The Atlanta Wealth Building Initiative reimagines economic realities in communities of color through community wealth building strategies that leverage ideas, people and capital. On the final episode of our six-part mini-series on the racial wealth divide, we talk about how Atlanta's tackling the issue with the executive director of the wealth building initiative, Latresa McLawhorn Ryan.
The 2053 Dispartity Report says... If the Racial Wealth Divide is Left Unattended, Median Black Household Wealth is on a Path to Hit Zero by 2053. Report: The Institute for Policy Studies. Join us as we are pre-recording here at 6pm PT. Then 7 PM Saturdays and Sundays on KBLA Talk 1580, Los Angeles. The Jay King Show
Representation is a very important catalyst for change and being able to see very successful people who are from the same background as you is such an impactful tool, especially for the youth. Let's talk more about creating that change through representation with Ana Trujillo Limón as she talks to you about her different programs that aim to help the youth, specifically minorities, as well as inspire them that they can achieve financial success. Tune in now to the episode so you don't miss out on what Ana has to say! Highlights >> Ana's background >> Ana's hobbies >> How to get started with running >> Other thing's Ana is passionate about >> More about Ana's programs that she's working on >> What inspired Ana to start this program >> Ana's final advice Connect with Ana >> https://twitter.com/AnaT_Edits?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor (Twitter) >> https://www.instagram.com/chicanewa/?hl=en (Instagram) >> https://www.linkedin.com/in/anatlimon/ (LinkedIn) If you loved this episode, you have to listen to these episodes as well: >> https://minority-money.captivate.fm/episode/bridging-the-racial-wealth-divide-with-dedrick-asante-muhammad-black-history-month-special (Bridging the Racial Wealth Divide with Dedrick Asante-Muhammad [Black History Month Special]) >> https://minority-money.captivate.fm/episode/becoming-financially-smart-with-david-rhoiney-black-history-month-special (Becoming Financially Smart with Dr. David Rhoiney [Black History Month Special]) >> https://minority-money.captivate.fm/episode/blx-internship-the-internship-program-for-aspiring-black-and-latinx-financial-planners (BLX Internship - The Internship Program for Aspiring Black and Latinx Financial Planners!) I'm sure you're getting tons of value from the podcast! Don't forget to subscribe on Apple Podcasts (https://apple.co/3jN77Mv) , Spotify (https://spoti.fi/3jParH0) , Google Podcasts (https://bit.ly/3n3i8vb), or on your favorite podcast app and SHARE THIS
Chuck Collins’ first job out of college was to work with mobile homeowners in New England to help them organize and buy their parks as resident-owned cooperatives, to escape the cycle of ever-rising rents. While working in Western Massachusetts with a group of 30 mobile homeowners struggling to raise the necessary resources, Chuck was holding on to a “dirty little secret”: as the great-grandson of the Chicago meatpacker Oscar Mayer (an iconic brand in the US renowned for its catchy advertising jingles and Weinermobile), Chuck, still pimply faced at the time, was a multi-millionaire who single-handedly could write a check to make it possible for the 30 families to buy the park – with only a negligible impact on his personal finances. Chuck was seriously (and silently) considering doing just that, when the group gifted him something much more valuable: they taught him the power of solidarity and community. At that moment, they heroically dug deeper and supported one another (oftentimes anonymously) to come up with the necessary down payment in a way that preserved the dignity of each. At age 26, this powerful experience defined Chuck’s path. Realizing that “there was no rationale that could justify this disparity” whereby his inherited wealth was increasing through no sweat of his own, but wages were going down for so many, he decided to give away his wealth. “I wrote my parents a letter thanking them for the tremendous opportunities this wealth made possible. And I explained that while having the money was a boost in helping pay for my education, it was now a barrier to my making my own way in the world. I intended to ‘pass the wealth on.’” Chuck signed the paperwork to transfer all the funds in his name to four grant-making foundations, maintaining no financial cushion or “rainy day” fund for himself. That this decision was not a whimsical flight of idealistic fancy has been born out over the decades: Chuck has been working diligently and strategically against economic inequality for his entire adult life. Decades after he gave away his wealth, Chuck wrote, “I have no regrets. If anything, I feel liberated. My decision enabled me to live my life more aligned to my values. It opened up a source of energy.” Chuck is a storyteller, writer, researcher, and campaigner working to reverse the extreme inequalities of wealth and power – and heal the social and ecological harms resulting from societal inequities. Since 2006, he has been Director of the Program on Inequality and the Common Good at the Institute for Policy Studies where he co-edits Inequality.org. His most recent book, The Wealth Hoarders: How Billionaires Pay Millions to Hide Trillions (Polity Books) examines the global hidden wealth system and the role of enablers and gatekeepers, such as tax attorneys, wealth managers, and family offices. In a YES Magazine article about wealth advisors that “help the rich let go,” Collins urged families to redirect “their wealth to heal the harms created by the initial extraction of that wealth.” Collins worked to brief foreign reporters about US wealth hiding systems in advance of the recent publication of the Pandora Papers. He has worked since 1999 on various efforts to organize wealthy people to advocate for progressive tax policies and preserve the federal estate tax, the only tax on inherited wealth. He was co-author, with Bill Gates Sr., of Wealth and Our Commonwealth: Why America Should Tax Accumulated Wealth (Beacon Press). His perspectives about wealth and inheritance are discussed in his popular book, Born on Third Base (Chelsea Green). He has been featured in many interviews, including an NPR Fresh Air interview with Terry Gross and in Sun Magazine. Chuck is co-founder of Wealth for the Common Good, a network of business leaders, high-income households and partners working together to promote shared prosperity and fair taxation. This network merged in 2015 with the Patriotic Millionaires, a national network of high net worth individuals advocating for higher taxes on the wealthy, a living wage, and campaign finance reform. Between 1983 and 1992, Collins worked for the Institute for Community Economics, helping grassroots housing cooperatives and community land trusts built and preserve affordable housing. Thereafter, from 1993 to 2006, he worked on issues of tax fairness and inequality, co-founding United for a Fair Economy. Currently living near Brattleboro, Vermont, Collins is co-author of several reports including “The Road To Zero Wealth: How the Racial Wealth Divide is Hollowing Out America’s Middle Class,” “Billionaire Bonanza: The Forbes 400 and the Rest of Us” and “Gilded Giving: Top Heavy Philanthropy in an Age of Extreme Inequality.” Other books include: Is Inequality in America Irreversible? (published by the Oxford, UK-based Polity Press); and 99 to 1: How Wealth Inequality is Wrecking the World and What We Can Do About It. He is co-author with Mary Wright of The Moral Measure of the Economy, a book about Christian ethics and economic life. Please join us in conversation with this principled advocate for justice and equality who has uniquely walked – and is walking – his talk!
The Financial Planning series officially ended a week ago and what a fantastic ride it was. I hope all of you enjoyed it and learned as much as I had listening to these guests. That being said, today's episode will just be a quick one and I'll basically be talking about some updates in my life, preparing for the holiday season, recaps and why representation is important. So if you're interested in hearing about these things then make sure to listen to this week's episode. Highlights >> Recap of financial planning series >> Creating a spending plan for the holiday season >> The BLX mission >> Importance of representation If you loved this episode, you have to listen to these episodes as well: >> Bridging the Racial Wealth Divide with Dedrick Asante-Muhammad (https://apple.co/3GYYNCM) >> “Go Out And Live” with Michael Policar (https://apple.co/3CPQSoV) >> The BLX Internship Program with Luis Luquin and De'Shonda Burton (https://apple.co/2Xl1BIo) I'm sure you're getting tons of value from the podcast! Don't forget to subscribe on Apple Podcasts (https://apple.co/3jN77Mv) , Spotify (https://spoti.fi/3jParH0) , Google Podcasts (https://bit.ly/3n3i8vb), or on your favorite podcast app andhttps://www.facebook.com/sharer/sharer.php?u=https://www.minoritymoneypodcast.com/podcast ( )SHARE THIS
Special Guest Meredith Martin aka ‘Ahmahl' from New Orleans shares his well-read historical and personal experiences as we reveal the main drivers and features of ‘systemic racism' post slavery. Systemic Racism is a term that is often stated in our mainstream discourse especially since President Biden gained office. But the focus is overwhelmingly on the individual level discrimination rather than its cumulative overall social outcomes. Tonight, whether you are a racist or not is not our interest and focus. Rather the cumulative effect of systemic racism is the focus of our show tonight. The historical antecedents and the material manifestations of systemic racism that has resulted in the great racial wealth divide is explicated. Rather than educational attainment and greater need for personal responsibility we place the spotlight on and suggest the real primary root cause of the great racial wealth divide, is the pernicious character of the system itself which has exuded systemic racism, albeit in different forms since our country's founding.We show how. We examine how embedded in laws and regulations throughout our history obstacles to the accumulation of wealth for African Americans has occurred. From slavery to the post Reconstruction Jim Crow era, through modern day forms of discrimination that have continued right up until present day, the result has been the great racial wealth divide, which well into the 21st century (2016), has resulted in a median wealth inequality that is a tenfold difference between black and white families.Jim Crow era black codes and convict leasing stunted the ability of African Americans toaccumulate wealth. The 1935 Social Security Act and the Selective Service Readjustment Act (GI Bill-1944) also had discriminating impacts on African Americans relative to whites in accumulating wealth as well and are detailed in tonight's show. Finally, documented examples of the multiple forms and reach of systemic racism and their impact throughout housing, education, health and the criminal justice system and incarceration rates round out our presentationWe have been acculturated to believe because we have now had a black president that we are a post-racial nation. We have been acculturated by that same President and others towards blaming the victim for not taking greater personal responsibility for pulling themselves up by their bootstraps. Personal responsibility is an important factor. However, the dominant factor the system itself and its deeply prejudicial advantages it gives to a small elite, is largely ignored, or minimized. A system that denies boots to too many of the people it serves is arguably the real problem. You have to have “boots” before you can pull yourself up “by the bootstraps.”
Special Guest Meredith Martin aka ‘Ahmahl' from New Orleans shares his well-read historical and personal experiences as we reveal the main drivers and features of ‘systemic racism' post slavery. Systemic Racism is a term that is often stated in our mainstream discourse especially since President Biden gained office. But the focus is overwhelmingly on the individual level discrimination rather than its cumulative overall social outcomes. Tonight, whether you are a racist or not is not our interest and focus. Rather the cumulative effect of systemic racism is the focus of our show tonight. The historical antecedents and the material manifestations of systemic racism that has resulted in the great racial wealth divide is explicated. Rather than educational attainment and greater need for personal responsibility we place the spotlight on and suggest the real primary root cause of the great racial wealth divide, is the pernicious character of the system itself which has exuded systemic racism, albeit in different forms since our country's founding.We show how. We examine how embedded in laws and regulations throughout our history obstacles to the accumulation of wealth for African Americans has occurred. From slavery to the post Reconstruction Jim Crow era, through modern day forms of discrimination that have continued right up until present day, the result has been the great racial wealth divide, which well into the 21st century (2016), has resulted in a median wealth inequality that is a tenfold difference between black and white families.Jim Crow era black codes and convict leasing stunted the ability of African Americans toaccumulate wealth. The 1935 Social Security Act and the Selective Service Readjustment Act (GI Bill-1944) also had discriminating impacts on African Americans relative to whites in accumulating wealth as well and are detailed in tonight's show. Finally, documented examples of the multiple forms and reach of systemic racism and their impact throughout housing, education, health and the criminal justice system and incarceration rates round out our presentationWe have been acculturated to believe because we have now had a black president that we are a post-racial nation. We have been acculturated by that same President and others towards blaming the victim for not taking greater personal responsibility for pulling themselves up by their bootstraps. Personal responsibility is an important factor. However, the dominant factor the system itself and its deeply prejudicial advantages it gives to a small elite, is largely ignored, or minimized. A system that denies boots to too many of the people it serves is arguably the real problem. You have to have “boots” before you can pull yourself up “by the bootstraps.”
Last week we detailed how slavery period, the Jim Crow period, interrupted by a short decade long Reconstruction period, was followed by Modern Day Discrimination that that continues to manifest its inequality today. We defined it as three connected eras that used different means and methods to ensure the second-class status of black lives', hence the nature of systemic racism. This week we shift our attention to the documentation of how Black airmen responsible for the most dangerous positions within the US WWII Air Force missions, namely as fighter pilots incurred a two front War. One against Nazi Germany and the second against the longest war in US History, the War of Racism. Special Guest Charles Chenier is featured form a 2007 BLID exclusive interview. One of the last Tuskegee Airmen still alive at the time gives a chilling and insightful vision of segregation and mistreatment of some of our real American Heroes the Tuskegee Airmen. Mr. Chenier also reveals how we fed German Nazi prisoners better than our own black airmen and gives us insights into the nature of the advanced German air force capabilities faced in WWII. The show includes a history of how the ‘New Deal's' Social Security program and the post War GI Bill program disproportionately benefitted whites over blacks with the effect of furthering the great racial wealth divide during the Jim Crow era and right up through the 1970s. A history unreported to the US public. Please join us as we seek to honor Black History Month by continuing to pursue our goal of deconstructing ‘systemic racism' by revealing its different manifestations throughout our colonial and post-independence history right up until today.
Last week we detailed how slavery period, the Jim Crow period, interrupted by a short decade long Reconstruction period, was followed by Modern Day Discrimination that that continues to manifest its inequality today. We defined it as three connected eras that used different means and methods to ensure the second-class status of black lives', hence the nature of systemic racism. This week we shift our attention to the documentation of how Black airmen responsible for the most dangerous positions within the US WWII Air Force missions, namely as fighter pilots incurred a two front War. One against Nazi Germany and the second against the longest war in US History, the War of Racism. Special Guest Charles Chenier is featured form a 2007 BLID exclusive interview. One of the last Tuskegee Airmen still alive at the time gives a chilling and insightful vision of segregation and mistreatment of some of our real American Heroes the Tuskegee Airmen. Mr. Chenier also reveals how we fed German Nazi prisoners better than our own black airmen and gives us insights into the nature of the advanced German air force capabilities faced in WWII. The show includes a history of how the ‘New Deal's' Social Security program and the post War GI Bill program disproportionately benefitted whites over blacks with the effect of furthering the great racial wealth divide during the Jim Crow era and right up through the 1970s. A history unreported to the US public. Please join us as we seek to honor Black History Month by continuing to pursue our goal of deconstructing ‘systemic racism' by revealing its different manifestations throughout our colonial and post-independence history right up until today.
Today on Sojourner Truth: The Washington Post is reporting that consumer prices jumped to 5 percent in May of this year. This is the biggest increase since the Great Recession. Meanwhile, activists are drawing to the growing racial wealth gap in the United States, as well as the feminization of poverty. According to the Center for American Progress, the median wealth for white households is $189,000. For Black households, it is $24,100. According to the Poor People's Campaign, there are over 140 million poor or low wealth people in the United States. At least 73 percent of the poor in the U.S. are women and children. President Biden, in his recent trip to Tulsa, Oklahoma, to mark the 100-year anniversary of the massacre of Black people by white terrorists, announced some measures he hopes will lessen the gap. But the measures have been criticized as insufficient. Our guest is Dedrick Asante-Muhammad with the National Community Reinvestment Coalition. For our weekly Earth Watch: as alarm bells on the environmental catastrophe continues to be debated, and as governments and the corporate world grapple with the crisis, environmentalists are calling them out for putting forth false solutions. Our guest is Anne Petermann, the executive director of Global Justice Ecology Project. Will a socialist schoolteacher become the new President of Peru? What are the controversies? What is at stake? What are the implications? Our guest is Francesca Emanuele, a Peruvian sociologist, born and raised in the province of Ica.
Today on Sojourner Truth: The Washington Post is reporting that consumer prices jumped to 5 percent in May of this year. This is the biggest increase since the Great Recession. Meanwhile, activists are drawing to the growing racial wealth gap in the United States, as well as the feminization of poverty. According to the Center for American Progress, the median wealth for white households is $189,000. For Black households, it is $24,100. According to the Poor People's Campaign, there are over 140 million poor or low wealth people in the United States. At least 73 percent of the poor in the U.S. are women and children. President Biden, in his recent trip to Tulsa, Oklahoma, to mark the 100-year anniversary of the massacre of Black people by white terrorists, announced some measures he hopes will lessen the gap. But the measures have been criticized as insufficient. Our guest is Dedrick Asante-Muhammad with the National Community Reinvestment Coalition. For our weekly Earth Watch: as alarm bells on the environmental catastrophe continues to be debated, and as governments and the corporate world grapple with the crisis, environmentalists are calling them out for putting forth false solutions. Our guest is Anne Petermann, the executive director of Global Justice Ecology Project. Will a socialist schoolteacher become the new President of Peru? What are the controversies? What is at stake? What are the implications? Our guest is Francesca Emanuele, a Peruvian sociologist, born and raised in the province of Ica.
Today on Sojourner Truth: The Washington Post is reporting that consumer prices jumped to 5 percent in May of this year. This is the biggest increase since the Great Recession. Meanwhile, activists are drawing to the growing racial wealth gap in the United States, as well as the feminization of poverty. According to the Center for American Progress, the median wealth for white households is $189,000. For Black households, it is $24,100. According to the Poor People's Campaign, there are over 140 million poor or low wealth people in the United States. At least 73 percent of the poor in the U.S. are women and children. President Biden, in his recent trip to Tulsa, Oklahoma, to mark the 100-year anniversary of the massacre of Black people by white terrorists, announced some measures he hopes will lessen the gap. But the measures have been criticized as insufficient. Our guest is Dedrick Asante-Muhammad with the National Community Reinvestment Coalition. For our weekly Earth Watch: as alarm bells on the environmental catastrophe continues to be debated, and as governments and the corporate world grapple with the crisis, environmentalists are calling them out for putting forth false solutions. Our guest is Anne Petermann, the executive director of Global Justice Ecology Project. Will a socialist schoolteacher become the new President of Peru? What are the controversies? What is at stake? What are the implications? Our guest is Francesca Emanuele, a Peruvian sociologist, born and raised in the province of Ica.
Today on Sojourner Truth: The Washington Post is reporting that consumer prices jumped to 5 percent in May of this year. This is the biggest increase since the Great Recession. Meanwhile, activists are drawing to the growing racial wealth gap in the United States, as well as the feminization of poverty. According to the Center for American Progress, the median wealth for white households is $189,000. For Black households, it is $24,100. According to the Poor People's Campaign, there are over 140 million poor or low wealth people in the United States. At least 73 percent of the poor in the U.S. are women and children. President Biden, in his recent trip to Tulsa, Oklahoma, to mark the 100-year anniversary of the massacre of Black people by white terrorists, announced some measures he hopes will lessen the gap. But the measures have been criticized as insufficient. Our guest is Dedrick Asante-Muhammad with the National Community Reinvestment Coalition. For our weekly Earth Watch: as alarm bells on the environmental catastrophe continues to be debated, and as governments and the corporate world grapple with the crisis, environmentalists are calling them out for putting forth false solutions. Our guest is Anne Petermann, the executive director of Global Justice Ecology Project. Will a socialist schoolteacher become the new President of Peru? What are the controversies? What is at stake? What are the implications? Our guest is Francesca Emanuele, a Peruvian sociologist, born and raised in the province of Ica.
What do hip-hop pedagogy and brunch have to do with breaking down the racial wealth divide? We found out in this episode of Real Money, Real Experts.Co-hosts Rebecca Wiggins and Dr. Mary Bell Carlson speak with Pamela Capalad, CFP®, AFC®, founder of Brunch & Budget, and Dyalekt, Host of the Brunch & Budget Podcast, Workshop MC, and See Change MC.Brunch & Budget is a financial planning program created to give everyone safe, friendly, and affordable places to talk about money and make real financial progress. In this interview, the group discusses why financial coaches and counselors need to understand the systematic challenges faced by clients of color, how these challenges impact their relationship with money, and how we can meet our clients where they are through a lens of equity and inclusion. Show Notes:00:52 Pamela Capalad and Dyalekt Introduction02:10 Pamela's Journey to the Field of Finance04:52 Dyalekt's Journey & Infusing Music and Art into Financial Literacy09:16 Origins of Brunch and Budget13:05 The Racial Wealth Gap16:28 See Change – Integrating the Racial Wealth Divide into Financial Coaching19:54 Resources on the Racial Wealth Gap21:20 Pamela & Dyalekt's Two Cents Show Note links:Get in contact with Brunch & Budget:Instagram: https://www.instagram.com/brunchandbudget/Twitter: https://twitter.com/brunchandbudgetBrunch & Budget Website: https://brunchandbudget.com/Brunch & Budget Podcast: https://brunchandbudget.buzzsprout.com/Pockets Change Website: http://www.pocketschange.com/Resources on the Racial Wealth DivideRace & Wealth Podcast: https://raceandwealth.buzzsprout.com/Prosperity Now: https://prosperitynow.org/National Community Reinvestment Coalition (NCRC): https://ncrc.org/The Color of Money: Black Banks and the Racial Wealth Gap: https://www.amazon.com/Color-Money-Black-Racial-Wealth/dp/0674237471/ref=asc_df_0674237471/?tag=hyprod-20&linkCode=df0&hvadid=312243616995&hvpos=&hvnetw=g&hvrand=4652926880038556144&hvpone=&hvptwo=&hvqmt=&hvdev=c&hvdvcmdl=&hvlocint=&hvlocphy=9007563&hvtargid=pla-660086380255&psc=1Color of Law book: https://www.barnesandnoble.com/w/the-color-of-law-richard-rothstein/1124822159
Has talking about the racial wealth divide become conversational quicksand, where we think that people talking about it are considering the problem in its totality and actually trying to solve it but they're actually applying a band aid to a gaping wound by saying the right words so we keep buying their products(looking at you Apple)?This week we're joined by Dedrick Asante-Muhammad for another PREACH episode and we took a deep dive into corporations and the racial wealth divide. We talked about authenticity, what systemic racism actually means, and how the feeling of being personally racist factors into all of this. Music Featured in This Episode:False Leadership by KnowleginBandwagon by A-RoyReal Recognize Real by Aleya
Black History Month ain’t over yet ‘cause in this episode, we’re extending it! Join me in this episode as interview the awesome Hope Newsome! Hope is a Corporate and Financial Services Attorney. She counsels broker-dealers, investment advisers, investment managers, private equity, and founders. She talks about the critical importance of building relationships as one of the foundations of her career and how setting up boundaries added more value to her life. Make sure you listen to our conversation as Hope talks about how she started her very own boutique law firm and how she is helping others build their dreams through her business! Highlights: >> How Hope started her own boutique law firm >> What it’s like being a black female attorney >> The critical importance of building relationships >> Drive your business that rides your business >> Knowing when to seek help and advice from the pros to help grow your business >> Why setting boundaries is important? >> How boundaries helped and added value in Hope’s life >> Understanding what your rhythm is >> Digging into the details Connect with Hope: >>https://www.linkedin.com/in/lauryn-williams ( )https://www.linkedin.com/in/hopenewsome/ (LinkedIn) >> https://twitter.com/spel0599 (Twitter) >>https://www.virtus.law/hope-newsome (Virtus LLP) If you loved this episode, you have to listen to these episodes as well: >> https://minority-money.captivate.fm/episode/bridging-the-racial-wealth-divide-with-dedrick-asante-muhammad-black-history-month-special (Bridging the Racial Wealth Divide with Dedrick Asante-Muhammad [Black History Month Special]) >> https://minority-money.captivate.fm/episode/becoming-financially-smart-with-david-rhoiney-black-history-month-special (Becoming Financially Smart with Dr. David Rhoiney [Black History Month Special]) >> https://minority-money.captivate.fm/episode/building-a-successful-business-with-sheneya-wilson-black-history-month-special (Building A Successful Business with Sheneya Wilson [Black History Month Special]) --- I’m sure you’re getting tons of value from the podcast! Don’t forget to subscribe onhttps://podcasts.apple.com/us/podcast/minority-money/id1473231134 ( Apple Podcasts),https://open.spotify.com/show/0and9szy0q9RxxQhZ2vnrf ( Spotify),https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vbWlub3JpdHktbW9uZXkv ( Google Podcasts), or on your favorite podcast app andhttps://www.facebook.com/sharer/sharer.php?u=https://www.minoritymoneypodcast.com/podcast ( SHARE THIS) with a friend. ********** Let's Continue the Conversation! Head on over to the Facebook Group and let’s discuss how we can change the complexion of wealth (https://www.facebook.com/groups/423846561552747/ (https://www.facebook.com/groups/423846561552747/)) Want to chat with a fee-only financial planner? Shoot me an email at emlen@minoritymoneypodcast.com Can't wait to meet you.
Today’s the last day of Black History Month but our job and mission of changing the complexion does not end! In this episode, I’m excited to share my conversation about the racial wealth divide in this country with the Chief of Race Wealth, And Community at the National Community Reinvestment Coalition, Dedrick Asante-Muhammad! The foundation of racial inequality is racial economic inequality. And the foundation of racial economic inequality is the racial wealth divide. Listen to this episode as Dedrick unpacks the truth about the enormous wealth divide in this country! Highlights: >> Why Dedrick is focused on racial equity, racial justice, and activism >> Racial wealth divide vs. racial economic inequality >> Income does not equate to financial stability and wealth >> Advancing inclusive economic empowerment >> What do we do about this racial wealth divide? >> What Black History Month meant to Dedrick Connect with Dedrick: >>https://www.linkedin.com/in/lauryn-williams ( )https://www.linkedin.com/in/dedrick-asante-muhammad-9966525/ (LinkedIn) >>https://bridgingtheracialwealthdivide.wordpress.com/ ( Bridging The Racial Wealth Divide) >> https://twitter.com/DedrickM (Twitter) >> https://www.facebook.com/dedrickm1 (Facebook) Resources Mentioned: >> https://www.amazon.com/Where-Do-We-Here-Community/dp/0807000671 (Where Do We Go from Here: Chaos or Community? (King Legacy) by Martin Luther Dr. King) >> https://www.amazon.com/Black-Power-Liberation-Kwame-Ture/dp/0679743138 (Black Power: The Politics of Liberation by Kwame Ture and Charles V. Hamilton) If you loved this episode, you have to listen to these episodes as well: >> https://minority-money.captivate.fm/episode/becoming-financially-smart-with-david-rhoiney-black-history-month-special (Becoming Financially Smart with Dr. David Rhoiney [Black History Month Special]) >> https://minority-money.captivate.fm/episode/building-a-successful-business-with-sheneya-wilson-black-history-month-special (Building A Successful Business with Sheneya Wilson [Black History Month Special]) >> https://minority-money.captivate.fm/episode/how-to-be-a-champion-in-finance-with-lauryn-willaims (How to Be a Champion in Finance with Lauryn Williams [Black History Month Special]) --- I’m sure you’re getting tons of value from the podcast! Don’t forget to subscribe on https://podcasts.apple.com/us/podcast/minority-money/id1473231134 (Apple Podcasts), https://open.spotify.com/show/0and9szy0q9RxxQhZ2vnrf (Spotify), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vbWlub3JpdHktbW9uZXkv (Google Podcasts), or on your favorite podcast app and https://www.facebook.com/sharer/sharer.php?u=https://www.minoritymoneypodcast.com/podcast (SHARE THIS) with a friend. ********** Let's Continue the Conversation! Head on over to the Facebook Group and let’s discuss how we can change the complexion of wealth (https://www.facebook.com/groups/423846561552747/ (https://www.facebook.com/groups/423846561552747/)) Want to chat with a fee-only financial planner? Shoot me an email at emlen@minoritymoneypodcast.com Can't wait to meet you.
In our monthly Preach episode with Dedrick Asante Muhammed we talk about what policies, Art, and media need to get put in place to close to racial wealth divide in a generation. It's not cheap, it's not easy, and it's going to take a huge mental, emotional, and economic shift in thinking from private wealth to public wealth.
The virtual economy has been growing rapidly for the last decade and our virtual lives have only increased with covid. But as the virtual economy flourishes, who gets left behind? One click shopping with two days shipping makes it easy to ignore low wages and poor conditions. Will new opportunities widen the racial wealth divide or is there something different we can do this time? Catch us with Dedrick Asante Muhammad @bridgingtheracialwealthdivide on Friday at 2pm ET for our weekly Preach to the Choir podcast series, where we examine how art and media perpetuate the racial wealth divide. #systemicchange #blackeconomicpower #systemicracism #financialliteracy #financialfreedom
The coronavirus pandemic has pummeled the U.S. economy and set record-high unemployment rates. But while tens of millions of Americans have lost their jobs — including 2.9 million Texans — the nation’s billionaires have seen their collective wealth increase. The Institute for Policy Studies (IPS) explored this wealth divide in its new report, “ White Supremacy is the Preexisting Condition: Eight Solutions to Ensure Economic Recovery Reduces the Racial Wealth Divide .”
IRA Financial's Adam Bergman discusses the racial divide in America and how all Americans can save for retirement, regardless of race, religion or beliefs.
Hey listeners, welcome back to the Whole View, episode 407. (0:27) Stacy knows that this might sound a little unusual, but this is one of the reasons that we do weekly recordings so that we can address things that are happening in the real world. With everything that is going on right now, it didn't seem right to record the podcast as planned. However, Stacy and Sarah wanted to instead open up a conversation with listeners. We have been having conversations amongst ourselves, and feel passionate that it is important to talk about the racial disparities that cause things we talk about on this podcast all the time. To dive into that a little bit deeper is important, and to discuss what all of us can do to support the Black Lives Matter movement. If you are listening to this podcast at a later time, this is being recorded during the first week of June. This is a week where we as a nation are examining how we treat the black community. Stacy noted that we will not be perfect in this show, but both she and Sarah are going to give it their best effort to bring these topics to the table. Sarah feels it is important to preface this show that they are going to do what they always do and discuss health, wellness, and safety, driven by science, and intersect that with the real-life emotional and physical experience. And that is what we are going to do in this week's episode, and dive into how all of these things are disproportionally affecting the black community. We are going to discuss how this has been a major contributor to this moment in history. It is also really important to preface this entire conversation by expressing our solidarity with the black community against racism, against injustice, and against senseless violence. Stacy's Reflection Stacy wants to also note that both Sarah and Stacy are college-educated, white women who live in the suburbs. (2:36) They cannot possibly understand the black experience. However, we stand with the ideals of quality, safety, and wellness for all, as we talk about on this show all the time. Stacy personally felt like her beliefs aligned with that, but she had this moment of realization when a reader called Stacy out and held her accountable. She is so grateful for this. At first, she felt defensive of this, but the more that she thought about it the more she realized how it was important to not just personally not be a racist but to instead be anti-racist. The thing that really clicked for Stacy was when this reader said, "but being gluten-free and using non-toxic skincare won't matter if I am dead in the street." Stacy was also reading another resource on the principles of the hierarchy of your psychological state of well-being. At the very core, at the lowest rung, is safety. If you don't feel safe, you can't get to anything else. There is no ability in your cognitive thought process to handle more complicated mattes. Putting those things together and realizing that gluten doesn't matter if you are worried about your safety when you go out having done nothing wrong. Stacy didn't at first talk about this because she didn't feel like she had the right words or she didn't know where to start. However, she wants to put it out there that as all of us start to have these conversations it is going to be hard. And it will be uncomfortable, but doing that hard work (including putting ourselves out there right now) creates a sense of fear from backlash. But Stacy wants to say that choosing not to speak is part of that privilege that most of us are born into. When Stacy imagines that fear of discomfort as being something you have your whole life because of the color of your skin, that is the black experience all the time. Stacy just can't sit by and say that is ok. We can do something. We can help people try to understand, and that is our goal today. Stacy appreciates your patience with us as we tackle something new but very important. Sarah's Reflection For Sarah, her experience has been similar in the sense of starting with a sense of discomfort around finding the right words to express herself. (6:44) Trying to find the right way to express solidarity with the black community. The feelings of nervousness and awkwardness have been compounded with being an immigrant. This part of the immigration experience where Sarah feels she is not supposed to criticize her adopted home. However, she has come around to really viewing the data that we will share in this episode, as something more important. It is about building awareness of a systemic problem that needs to be fixed so that our country can be better for everyone in it. The Start of a Political Uprising We are talking about centuries of systemic racism. (8:19) And now, we are talking about a situation where the global pandemic has really drawn the curtain back and revealed the extent of how systemic racism is impacting people of color. How covid has so disproportionally affected those communities and how the economic depression that has been caused by covid has centralized within those communities. It has created distinct energy within this climate. In fairly rapid succession, we had Amy Cooper in Central Park who called the police on Christian Cooper. We had the murder of Ahmaud Arbery. Then we had the Breonna Taylor shooting, where she was killed by police in her home. And then most recently we had the homicide of George Floyd by a police officer while three other officers watched. This is not the first tragic example of police violence against a person of color. However, it is the spark on this that has lit this powder keg that is the frustration of all of these events coming together. It is this unique period of time where the depth of systemic racism is so visible in the covid-19 data and then ignited by these recent examples of racism. For a deeper look at this, please refer to this link. What we are going to do is get into the actual science and the data behind these events that have led to the current events. There are 140 different cities and towns, at least, in the country where there are protests supporting the Black Lives Matter movement. All of those of us who are in the periphery need to be able to support this community. Stacy reflected a bit more on Sarah's perspective as an American immigrant. She feels passionate that immigrants and people of color make America what it is today. Stacy hopes that this information they are going to share can help highlight how things are pulling us apart instead of pulling us together. Here is an opportunity to change. There is nothing we can do about the past. This is an opportunity to take in the information and ask, now that I know better, how can I do better. Racial Disparities in Covid-19 What has really been problematic is that there isn't comprehensive data on race and ethnicity in the covid-19 data. (15:18) There are isolated places that are keeping data and there are a variety of organizations that are trying to gather and analyze that data. The CDC does have an entire page dedicated to the racial disparities in covid-19. There are only looking at data from about 580 patients. The APM Research Lab has found that Black Americans have mortality rates that are more than twice as high as other races. There are more covid cases amongst the African American community because they are much more likely to work in the service industry and much more likely to not have paid sick leave. And there is a higher mortality rate because of pre-existing racial disparities in both chronic illness and access to health care. So what is happening right now, looking at the data, is that the disparities are different in different regions. On average, the disparity is that African Americans are dying at a little over twice the rate as white Americans. However, there are places where the disparity is closer to five times higher (ex, Louisiana). In Michigan, it is 10 times higher. We can see a greater disparity in different regions of the country where this data is being collected, we can see a greater disparity. And In North Carolina, the difference is 50%, which is still not ok. What this is showing us is this collection of different factors that are contributing to this. For example, nearly a quarter of employed African American workers work in the service industry, compared to only 16% of non-Hispanic whites. They are far more likely to be considered an essential employee. For example, even though Black Americans only make up 12% of all employed workers, they make up 30% of practical and licensed vocational nurses. They are caring for people with covid-19, so they are high-risk by the sheer nature of the work they are doing. Here are three articles to refer to for more information: one, two, and three. Racial Disparities in Chronic Disease We are compounding that onto a pre-existing problem where there are huge racial disparities in chronic disease. (19:19) There are a variety of reasons for this. Sarah has seen this referred to as being a “complex disparity ecosystem”. This basically means that there are a lot of factors that are all contributors to this disparity. It includes things like lower levels of economic resources, lower levels of access to health care, delays in treatment, lower health literacy rates. This also includes environmental factors. Black Americans are more likely to have contaminated water or being exposed to environmental pollutants, and less likely to have access to a grocery store that has fresh produce. All of these are contributing to a much higher prevalence of all of the risk factors for a severe case of covid-19. African Americans have a 70% higher rate of diabetes than white Americans. There are higher rates of cardiovascular disease, especially stroke. And there is nearly double the rate of hypertension, high blood pressure, which is one of the strongest risk factors for a severe course of covid-19. There are also higher rates of cancer. For example, the cancer rate in African Americans is 35% higher than for whites. Digging Deeper into the Statistics This is one of the big challenges for the Black community. It is not just the increased exposure to covid, it is not just that they make up a larger proportion of the people who are getting it. However, it is that they are far more likely to have these pre-existing conditions that make them more likely to have a severe course of the disease. And on top of all that, compared to white Americans, African Americans are about twice as likely to uninsured. If you look at various surveys, Black Americans are much more likely to report not being able to see a doctor because of the cost. They are far less likely to have employer-based health insurance. So there is increased exposure because of economics. Then there is the more likely to have a pre-existing condition that increases the likelihood of a severe course of the disease. And then there is the less likely to see a doctor get the appropriate levels of healthcare. All of that together has led to these disparities as to how covid-19 is impacting the Black community. Economic Disparities The other thing that we have seen is an economic depression. (22:47) We haven't seen rates of unemployment like this ever, and this has disproportionally impacted people of color. A Pew Research Center survey shows that Latinx and Black households are being hit with more job losses than White ones. Sixty-six percent of Latinx households and 44 percent of Black households have had a job or wage loss due to the pandemic, compared to 38 percent of White households. There’s also a wealth gap, so these are people who are much less likely to have savings, own a home, etc. According to our Racial Wealth Divide report, the median Black family, with just over $3,500, owns just 2 percent of the wealth of the nearly $147,000 the median White family owns. One of the things that Stacy has come around to understand more is the different ways to represent economic disparities. When we say something like a Black family has less wealth than a white family, let Stacy give some tangible numbers in an article she read based on where she lives. The average median household income for a black family is $84,000. Matt and Stacy live in one of the most expensive costs of living areas in the country. However, if you look at the white median income, it is $118,000. So it is not just the difference between whether someone is college-educated or not, this goes back so long into things that have built systemic racism into our country. Oftentimes we don't even realize our culture is making racial assumptions for. Stacy feels that this goes into a lot of bias in the healthcare world as well. Because it is more likely that these conditions exist in Black Americans, it is also assumed, or bias is given, and lack of care. You are seeing not just an impact from the fact that they have an increased risk of health conditions. But you are also seeing they are not getting proper medical care because of bias and assumptions that are being made by healthcare professionals. We Can Do Better We, as white people, are never going to understand the Black experience. (27:30) But we can try to put ourselves in a situation where we can know that things are happening are not ok. We can use our voice to speak on behalf of those that are being marginalized or being oppressed. Stacy tries to do this for all communities who affect health, and realizing now is not something she has been doing for people of color who find themselves in these situations regularly. We as a country can do better, and there is so much that we need to learn to do that. Where to Start One resource, a podcast episode that Sarah listened to a few days ago, that she would like to point listeners to is Hidden Brain, The People Like Us. (28:21) This podcast episode broke down how covid-19 disproportionally impacts people of color and then looked at ways healthcare could be improved to address these inequalities. One of the things we want to do in this episode beyond bringing the data into this conversation is to help our listeners with at least some starting places of resources that both Stacy and Sarah have found helpful. Stacy and Sarah are being very intentional in trying to reflect and learn and educate themselves in this time. The more that we listen, the more that we learn, the more that we read, the more we support the communities that need us to understand and speak on behalf of. One of the things that Stacy is doing is having an activity to teach her children about racism, privilege, and how we as privileged white people can use our voice on behalf of those who are not as unfortunate. There are videos she has been showing them, and then asking questions afterward. They have also been watching a movie at night to learn about Black culture, racism, or civil rights every single night as well. Stacy feels that her kids do not need to consume the negativity of the news, but they do need to be aware of what is happening in the world. These children will inherit this earth and can continue to make changes. Learning not just why it is important to vote, but how to also participate in local elections and that it is our responsibility to do so. Stacy is realizing how grateful she is for quarantine because of the opportunity we have to control the narrative on what our kids are seeing and hearing. We can shape how kids reflect and learn about this. Statistics on Police Brutality This is one of the problems is that there is no comprehensive federal database on violent incidents with police. (34:44) After Michael Brown's death in Ferguson, Missouri in 2014, there were a variety of independent third parties that took up the mantle of tracking this data. There are now a few that do this called Fatal Encounters, Mapping Police Violence, and the Washington Post's Fatal Force Project. They collect data in different ways, tracking slightly different, and also counting different things. Over the last six years, they have revealed some statistical trends. On average there has not been much change in the past six years in terms of police violence and lethal force being used. There is some shift where it is decreasing in some of the big cities that have had initiatives to not use lethal force and have really worked on really changing the police culture. In big cities, the rate of people being killed by police has gone down, but it has gone up in suburban and rural communities. On average, it is about the same. Last year, there were a little over 1,000 people killed by police as found by Mapping Police Violence. Black people are about 2.5x more likely to be killed. They are disproportionally represented in that group. In addition, they are more likely to be unarmed than a white person when they are killed. There are people who are looking at this data trying to tease out and understand ways to address it. Some ways have been shown to be completely ineffective. For instance, body cams have been shown to not impact the police brutality rates at all. Bias training, on the whole, has been shown to be relatively inaffective as well, which may have to do with the variety in which bias training is conducted. There was a study published last fall in the Proceedings of the National Academy of Sciences that estimated that a black man in America had approximately one in one-thousand chance in being killed by police in his lifetime. The chance is of course much higher in that twenty-five to thirty-five age range. That statistic is really eye-opening. Sarah pointed out that the mortality rate is not much different from covid-19. For more information on this topic, see here, here and here. Stacy noted that whatever bias or assumption you have on these statistics, those have already been corrected for. Ways to Support the Black Lives Matter Movement This is what we mean by learn and seek out this information for yourself. (39:44) Knowledge is power. The more knowledgeable we become on this, the more we can have those conversations that say something contrary to support Black Lives Matter. If you have the education and information you can help do the hard work. Black lives matter, and these conversations need in order to protect those lives that we have talked about. We can stand up, and get comfortable being uncomfortable speaking up for the marginalized group and people of color, and Black Americans specifically. One of the things that Sarah has been learning about in particular is learning about the language used to describe the Black Lives Matter protests right now. This has also led Sarah to examine her own language and unconscious bias. A Black Lives Matter protest is much more likely to have the words violent used to describe it, or to be called a riot. Examine the language being used. The current protests are standing up to injustice, and they are very important. They are demanding change that should have already happened. The other thing that Stacy wants to say is that this is not to say that there are not numerous people across all walks of life who are not wonderful allies. One of the things that we can do is be an ally in the future. The more we acknowledge and apologize for what is happening and openly come out and be an ally going forward, the more we lend to that positive protest. This is our way of being able to support change. Another thing that Stacy has been trying to do is share content from Black voices to help amplify them. The example she brought up was following Charlotte on Instagram. Add people to your network and community - seek them out and engage. When we only see our own type of people (whether it is gender, age, the color of skin, etc.) we are all better served when we have diversity in our life. Being able to find Black voices who are talking about this, or going forward you want to make sure you are supporting the work and shops of Black people, this will help their ability to get past those economic disparities. There are a lot of people outside of our communities who will bring joy and depth and knowledge and interest and comedy to our lives. Stacy knows she is better when she is bringing diversity into her life. Additional Ideas Sarah read an article in the Independent that really spoke to her in terms of giving her an action list for ways that she can support the Black community at this time. Here was an expert Sarah wanted to share from “Not Racist” to Antiracist, article by Michael Crawford: “Make a commitment to fighting for racial equity and move to action by challenging racist words and actions from people you know, donating money to civil rights organizations like Color of Change, Minnesota Freedom Fund Inc. and Fair Fight; signing petitions by groups like MoveOn; giving your children books featuring diverse characters; posting antiracist articles on Facebook; writing letters to the editor of your local newspaper urging justice; calling your city council members and demanding better oversight of the police department; calling the offices of progressive candidates to volunteer; and making sure you're registered to vote.” Danielle Coke is another Instagram account Stacy noted. This YouTube video is another great resource to reference. And here is a list of books to reference for additional education surrounding this discussion. Laslty, here is a list of organizations you can volunteer for or donate to. Closing Thoughts If you are feeling some kind of way right now, like Stacy, and are realizing that you want to do more and that you are struggling with having not done those things previously, remember what we always say. (49:33) Looking behind with shame and guilt does not help you move forward. However, being of service, making a difference, and focusing on what you can do going forward is going to help effect change for this community. Wallowing in guilt or shame or feeling confused and not doing anything will not help to bring change. We are putting all these references in the show notes for you and we hope that it serves as an opportunity for you to continue the discussion. Stacy has heard and read from Black voices over and over again that the best we can do is apologize for what has happened in the past. It is not ok. We can acknowledge that we are an ally and want to affect change going forward. Then we can listen and learn so we can do just that. These are Stacy's principles going forward. Listeners, Stacy hopes that this is helpful for you to go forward. Take a deep breath and think about what can you do. There are little things that we can all do, that will lead to big change. Sarah wants to again acknowledge that both Stacy and Sarah are trying to use their platform to acknowledge where they know they can do better. They are not trying to just express their solidarity with the Black community, but also bring awareness to the social injustices and racial disparities that have built this moment. We encourage our listeners, please remember that this isn't about being perfect, it is about taking those first steps down the road. Stacy and Sarah are hoping to use their platforms to build awareness so that they can encourage all of our listeners and the people in your lives to advocate for equality. That is what this is about. Know better, do better. We can apply that to every facet of our life. We hope that this can help you find a way to do that in your own life. Thank you for your patience as we worked through this, we hope that this inspires you to do your best. Huge thank you for listening and we will be back again next week! (54:05)
Our first of a number of episodes on COVID19 and the racial wealth divide, our first impressions on how Black and Latinx communities are affected, how to navigate the stimulus package, how have artists like Dyalekt been affected, small businesses like Brunch & Budget, and why neoliberalism won't save us.
In part two of How the Racial Wealth Divide Affects Your Wallet Pamela and Dyalekt continue the conversation on how the racial wealth divide affects your wallet, financial resilience and the policies that have led to the racial wealth divide and dive deeper into how those policies actually were perpetuated by art media and culture.Music in this Episode:Chicken & Watermelon feat JAMPoet by PRODUXFOOLERY [PROD. BY TOM] by Uncle Tom, and AssociatesWho Will? by Phynite
In part two of How the Racial Wealth Divide Affects Your Wallet Pamela and Dyalekt continue the conversation on how the racial wealth divide affects your wallet, financial resilience and the policies that have led to the racial wealth divide and dive deeper into how those policies actually were perpetuated by art media and culture.Music […]
Music Featured in This Episode:The Buy In by Hech RhymesAdvocate by Spoken Phoroverstand FT. Rswift by OvercomeIn part 1 of Financial Resilience and The Racial Wealth Divide Pam and Dyalekt dig into the five steps to financial resilience:Buy InSystemsHabitAdvocacyValues
Music Featured in This Episode: The Buy In by Hech Rhymes Advocate by Spoken Phor overstand FT. Rswift by Overcome In part 1 of Financial Resilience and The Racial Wealth Divide Pam and Dyalekt dig into the five steps to financial resilience: Buy In Systems Habit Advocacy Values Episode Highlights: Dyalekt: I know it starts […]
Today’s guest is Patrice Washington but you may know her as America’s Money Maven. Patrice is an award-winning author, transformational speaker, hope-restoring coach, media personality and top-rated host of the Redefining Wealth Podcast where she teaches the masses to “chase purpose, not money.” She got her start as a personal finance expert and garnered tremendous success with her “mindset approach” to money as the recurring voice on the nationally syndicated, Steve Harvey Morning Show. Her message reached millions as she shared her story of launching her first business out of college to 7-figure success only to end up scraping up change at the height of the Great Recession. She’s rebuilt her life brick by brick and encourages women, in particular, to have “wealth” in all aspects of their lives by pursuing their purpose, being fulfilled, and earning more without ever chasing money. In this episode, Patrice and host Lauryn Williams discuss the racial wealth divide in a new light with a message you might not have heard before. In This Episode We Discuss: The false sense of security that comes from thinking you’ve “made it” Why personal finance is your personal responsibility The importance of starting the conversation instead of waiting to be invited into it Why people need to stop pretending they “don’t see color” The difference it makes to “chase purpose not money” Instagram: https://www.instagram.com/seekwisdompcw/ Facebook: https://www.facebook.com/SeekWisdomPCW/ Twitter: https://twitter.com/SeekWisdomPCW
Today’s guest is Certified Financial Planner, Wes Shannon. Wes became a Certified Financial Planner and founder of SJK Financial Planning after going back to school for his undergrad in his early fifties. He describes himself as “an old white guy” and a true Texan and he has a true heart for helping people with this finances including volunteering his services to help those such as single moms work on organizing their finances. Wes is an alley as we talk about how to bridge the race gap and talk about the racial wealth divide. While there is a majority out there as a number of people, there doesn’t need to be a divide in the way we think about ourselves and each other and I think it’s important to get everyone involved in the conversation if we’re going to eliminate this gap. In This Episode We Discuss: What Wes found when he started researching the racial wealth divide The messages that the media has been sharing about race for decades The importance of understanding that there are many ingredients that are impacting the racial wealth divide The role that the education system is playing in the divide How technology is failing us in 2020 The beliefs that are holding the majority back from seeing the real problem How the majority can join the conversation https://www.sjkfinancialplanning.com/ Facebook: @sjkfinancial Twitter: @rwswes
Today’s guests are Pam Capalad and Dyalekt. Pam is a Certified Financial Planner and founder of Brunch and Budget which helps people to become more comfortable with financial conversations. Dyalekt is a musician, educator, and actor. His music and one person plays are used as a curriculum as he works with kids as young as 6 through college-age to teach on the emotional and practical ways they deal with finances. They are both also podcasters working hard to help people of color create financial stability. Not only are Pam and Dyalekt educated on the financial industry they are well versed on the policies that are impacting the racial wealth divide. They aren’t shy about sharing the things that need to be addressed and changed in order to start correcting this gap that’s impacting our society. Today Pam and Dyalekt will share with us more about what people of all colors can do in order to address the racial wealth divide. In This Episode We Discuss: The surprising negative impact that desegregation had on the financial stability of minorities The role that the media is playing in continuing to feed the racial wealth divide The reality of the “black tax” How digital redlining is continuing to feed the racial wealth divide Why words like “personal responsibility” and “privilege” are connected with negative emotions What the majority can do to help put an end to the wealth divide If you want to learn more about Pam and Dyalekt or see what they’re up to you can find them at the following sites: https://brunchandbudget.com/ http://dyalekt.com/
Dedrick and Dyalekt discuss how the racial wealth divide affects Indigenous people and how, by recognizing our similarities and differences, we can band together to work toward bridging the divide. Episode Highlights:Dyalekt: Thanksgiving is a contradiction for a lot of folks, and everybody feels weird about it but it's one of those things about power structures, right? I railed against it very much, many a time, until I realized that for a lot of my family members that's the only time, we have to be able to break bread.Dedrick: What I try to do is recognizing that the conquerors, when they conquer people, they usually take the holidays of the conquered and put their own holidays on top of it.Dedrick: I hope everyone figures out some way to celebrate in a way that is meaningful to the family and disrespectful to history and our current reality of racial inequality.Dyalekt: I feel like Indigenous, Native, First Nation people often get left out of a lot of these racial wealth divide discussions. There is the idea that, there aren't many of them left and they're scattered on reservations, so their data is really small. Then there's other folks who are like, well they got their casinos and everything so they're doing all right. So, in one way or another, they're kinda left alone.Dedrick: And some people think they are actually doing much better than they are. I do think this lack of data is a very big problem. It is challenging because there isn't good wealth data on Native Americans. National wealth data, even basic income data, unemployment data is hard to find.Dyalekt: When people talk about folks being scalped, everyone likes to say, ‘Oh Native Americans were running around scalping the Europeans who came', when that is the opposite of what was happening. Native people were scalped! There were too many Native folks on this land that the Europeans claimed on their own. So, what they said was that, if you clear out Native Americans, we will pay you. They would pay you for every scalp you brought because that was proof that you had actually killed a person. Whenever you are talking about scalping, remember you know it completely backwards.Dedrick: Native American median income is about $36,000 which is exactly the median income for African Americans. They also have twice the unemployment rate of White Americans. I think there is a lot more reparations that need to occur for Native Americans. We need reparations for African Americans. We don't want reservations, we want reparations, right? So that they have capital that allows them to succeed in this economy on their own.Dyalekt: The least that we can do is to be informed about the ways that we have points of tangency no matter our backgrounds. To have a better understanding of the similarities that the other groups have all together in this country so that we can have a better understanding of the umbrella of oppression that is happening to all of us so that we can see what actual areas, what policies we want to endorse and what points we want to attack. Dedrick: The most we can do is, as we are creating for ourselves our own ways of advocacy for our particular communities, recognizing that supporting different community's advocacy that is also for justice, really in many deep ways is inherent to your struggles as well. I am not on this thing where everybody is the same. No, no, no. There are distinct differences, recognize the difference and understand that. But also, in the difference understand that there are similarities in basic economic redistribution and that you are going to need to actually step out of your community to work with other communities.
In the second Spotlight on Race and Wealth episode Dedrick speaks with Mehrsa Baradaran, Professor of law at UCI Law about race and wealth inequality. Mehrsa discusses Postal Banking and The Homestead Act, policies that can lead to bridging the racial wealth divide.Episode Highlights:Mehrsa: When you have a natural system where a few people are going to hold a lot of capital or one raise doesn't have capital was not allowed to own homes and their property was not protected. Can you disrupt that? What you see in history is that the only way you build wealth in new communities is a capital shift. Mehrsa: This is where wealth vs income comes in to play. Wealth inequality is much stickier and much less dependent on individual decisions. Yes, a person could increase their income within a certain range, even that is pretty sticky. It is very difficult to go from a very low wealth family or environment into a high wealth one and vice versa. The passed down nature of wealth really creates these intergenerational disparities. Mehrsa: This is why this idea of individual decision is this false promise of equality. I don't think any class has a monopoly on good decision making.Dedrick: The problem is if you look at Black or Latino wealth, it is mostly in-home ownership while white wealth is more in stocks and these types of things. The issue is that blacks need to be more in stock but it's not looking at the reality of if you have a median wealth of 3 or 4 thousand dollars you are not running around trying to figure out what stocks to invest in. You're lucky to be a homeowner and you're trying to pay off that mortgage.Mehrsa: 60% of Americans have their main asset in a home. It's cross racial, but with black and brown homes they don't increase in value as much as do white homes because of embedded natures of segregation and racism. The market is racist because it embeds people's preferences. People would rather move in to an all-white community than a black one and those market rates reflect that. Mehrsa: Poor people pay 10% of their income just to use their money because banks are no longer serving these clients. And then you have payday lending and high interest rate other forms of lending: pawn, title. So how do you fix this? A lot of people respond with community banks, small banks, credit unions. My research and history show that these banks either are not or are not doing it. Credit unions are not offering accounts to the unbanked. They're just as big, their clients are more wealthy than bank clients even. Mehrsa: One of the most effective, in American history, of financial inclusion was through the postal bank. It is not a radical idea, but it has been approached as one. The idea is the Post Office already exists everywhere. It already has that transmission mechanism of it already gives money orders, already has its own network. You could transfer money; you could deposit money in a little saving account there. You could link up and get a digital account. You could even get loans at the Post Office. Dedrick: There is much more mainstream conversations about big policy ideas that could help address some of these issues. Even though postal banking wouldn't bridge the racial wealth divide. It would disproportionately help the under banked which are African Americans, Latinos and large numbers of Whites as well.Mehrsa: This is where the Homestead Act comes in. Over the last 30 years, and I have spoken a lot against this, we have these tax incentive programs like opportunity zones or enterprise zones. The idea is we are going to give businesses goodies like tax cuts and the business investment in this community is going to benefit everybody. And that just doesn't work, one, because of the capital idea. The person getting the capital is that business. The person getting the tax cut is the outside business.
How do our economic circumstances affect the role that traditional family units play in our culture? In this week's episode of PREACH Dyalekt, Dedrick, and Pamela discuss the effect that the racial wealth divide has on the nuclear family concept. ------------------------------Episode Highlights: Dedrick: Marriage has always been an economic structure. I think it is only more recently that we have made marriage much more this idea of strictly about culture and even more so about love vs economic need or socio-economic need. Dyalekt: The reason why specifically Black families are thought of as not having fathers is because since the days that Africans were enslaved in America, we had our families separated. That is something where they knew what they were doing and decided to make it the norm. Even after folks were free and started to build their own, that idea persisted. The justification for why it was ok to enslave us became the justification of why it's ok to ignore us today. Dedrick: I think people use the two parent household for villainous purposes. I don't think the two-parent household in any way is a villain just like the one parent household is not a villain. You can try to frame it in a negative way and use it for negative things but no, two parent households, one parent households are realities that we are dealing with.Dedrick: However, it's not often talked about the deep costs of having kids. What does that mean in the context of racial economic inequality? Where Blacks and Latinos are making 60-65 cents on every dollar that Whites make and only have maybe 4-6 cents in terms of wealth. The costs for having children for Blacks, Latinos, and Native Americans are much higher than for Whites. What does that mean about how we handle family? Pam: One of the stats that you had that I found interesting is, “due to the rising costs of sports, the number of students who aren't physically active has increased to 17.6%, being physically inactive is even more likely for low income children who are 3 times less likely to participate than children who reside in higher income households” because of the costs of these private leagues and the deterioration of public access to physical activity.Dedrick: When you have a kid you often want a bigger space, you want it to be in a place where there are parks or access to things, and better schools so that puts greater value. Again, schools are funded by local taxes, the more income you have, the more that is invested in the schools. All of this creates a radical increase in your cost of housing, just by having that child. Dedrick: Imagine, $12,000 per child, if the median income is around $50,000, that's $50,000 before taxes. Take away those taxes, now you're down to $37-38,000. You're spending almost a third of your income on that care and you haven't paid yet for your housing. Children used to be this idea that they help you generate wealth from an agricultural standpoint. You have more kids; you have more free workers for the farm. But now children are in many ways, wealth destroyers. Not many households can afford $12,000 or more going out of your pocket. Dedrick: The least we can do is recognize the unspoken reality of the economics of marriage and family and how the challenges that you are having in your life around marriage and family relate to those things. Understanding that there is this larger context, you can't change the larger context, but hopefully by understanding the larger context you can make a better path for yourself to deal with these issues.Pam: The least you can do if you are in a place of privilege to be able to decide whether to create a family, without any economic considerations, is recognizing and acknowledging that a lot people do not have this privilege. There are a lot of economic factors and systemic things that are stopping people from being able to do that.
The Racial Wealth Divide has been a topic of conversation this election year with Presidential candidates detailing plans on how to approach and deal with it. Pam, Dedrick, and Dyalekt review the proposals of several candidates and see who's really real. B/W 'Policy' by VerseBorn
The Thanos Snap, for those people unfamiliar with the recent Avengers movies, was villain Thanos’ use of a powerful artifact called the infinity gauntlet to reduce half the population of the universe to dust in a single moment. But would randomly removing half the human population help with the Racial Wealth Divide? Certainly, many societal […]
The Thanos Snap, for those people unfamiliar with the recent Avengers movies, was villain Thanos' use of a powerful artifact called the infinity gauntlet to reduce half the population of the universe to dust in a single moment. But would randomly removing half the human population help with the Racial Wealth Divide? Certainly, many societal power structures would be upset by the removal of key figures, but the overall balance of power and resources between groups would need to be independently upset in the aftermath. Would half the population vanishing make it easier for poor individuals to gain access to wealth, or would a drastic upset like this once again be twisted to benefit those already in power? For inspiration for possible answers, we turn to China's one child law, and a critique of the superhero formula.
I Feel Fantastic by Jonathan Coulton (Best Concert Ever), Underinsurance, CBO on Medicare for All, Cooperative Gig Economy, Bridging the Racial Wealth Divide, Border Militia, Is Prison Necessary?, Corporate Robber Barons at the Public Trough, Arrogance Ignorance and Greed by Show of Hands (Folk the Banks) #BernieSanders Bernie-2020.com Twitch.tv/unrelatedthings
Premiere Episode of our new show from the makers of Race & Wealth!Dedrick and Dyalekt welcome new co-host CFP and finance educator Pamela Capalad. The untractable trio tackle the reciprocal relationship between culture and the racial wealth divide. In this episode they discuss the legacy of Nipsey Hussel, and the age old question: What about White People? Recorded at Backwoodz Studioz. Beats by euphAm & domer. "Preach to the Choir" theme by Dyalekt & Cherrye J Davis.B/W "I See White People" by MC Friendlyhttps://yhsrecords.bandcamp.com/track/i-see-white-peopleNCRC.org @dedrickmBrunchandBudget.com @brunchandbudgetdyalekt.com @dyalektrapsBackwoodzstudioz.com @BackwoodzHipHop
Clearing the FOG with co-hosts Margaret Flowers and Kevin Zeese
In a new report, "Dreams Deferred: How Enriching the 1% Widens the Racial Wealth Divide," researchers at the Institute for Policy Studies outline how the racial wealth gap has widened over the past thirty years and how this fits the long term pattern of systemic racism. We speak with one of the authors, Sabrina Terry, about the findings in the report and recommendations for closing the wealth divide. We report live from Caracas, Venezuela where the United States is continuing its aggressive efforts at regime change. Subscribe to Clearing the FOG on Patreon and receive our bonus show, Thinking it Through, plus Clearing the FOG totes, water bottles and T shirts. Visit Patreon.com/ClearingtheFOG. And visit the new Popular Resistance Podcast Network at www.PopularResistance.org/prpn/
A discussion with four members of the Closing the Racial and Gender Wealth Gap Panel: Thomas Shapiro is the Director of Institute on Assets and Social Policy and the Pokross Professor of Law and Social Policy at The Heller School for Social Policy and Management at Brandeis University. Melany de la Cruz-Viesca is the Assistant Director […]
This week’s Oldie-but-Goodie. Happy Black History Month! If average Black family wealth continues to grow at the same pace it has over the past three decades, it would take Black families 228 years to amass the same amount of wealth White families have today. For the average Latino family, it would take 84 years to […]
On this episode of The Critical Hour, Dr. Wilmer Leon is joined by Jon Jeter, author and two-time Pulitzer Prize finalist with more than 20 years of journalistic experience; and Dr. Anthony Monteiro, author, activist, DuBois Scholar and former professor in the African American Studies Department at Temple University.Venezuela's senior military figures signal backing for President Nicolás Maduro, as Russia, China, Iran, Syria and Cuba have come down on one side. The United States, Canada and countries in Western Europe are on the other. Senior figures in the Venezuelan military came out in support of Maduro today, a day after the US said it no longer recognized him as the country's leader and backed the opposition's Juan Guaidó instead. The geopolitical fault lines are clear. The US has decided to ignore the democratic process in Venezuela and is working to overtly orchestrate a coup, while at the same time accusing Russia of violating US law and undermining the US democratic process. What does this mean going forward? The Senate took its first votes today on competing Republican and Democratic plans to end the partial government shutdown. The Republican bill includes funding for President Donald Trump's border wall, while the Democratic plan does not. The Republican bill failed 50-47. Republicans needed 60 votes for it to get a full vote on the floor. The Democratic plan lost 52-44, and likewise would have needed 60 votes were needed to continue. As this shutdown drags on and decimates the finances of federal employees and contractors, Trump's Commerce Secretary does not understand the angst surrounding the impact. Meanwhile, a new report titled "The Racial Wealth Divide" further examines US economic failures and highlights how the racial wealth divide has grown between white households and households of color. Since the early 1980s, median wealth among black and Latino families has been stuck at less than $10,000. Meanwhile, white household median wealth grew from $105,300 to $140,500, adjusting for inflation.President Trump's former personal attorney Michael Cohen indefinitely postponed his upcoming congressional testimony yesterday, citing “ongoing threats against his family from President Trump” and his attorney Rudolph W. Giuliani. Allegedly, the threats from the duo reached Cohen and his family as recently as this past weekend, according to a statement from Cohen's attorney, Lanny Davis. Trump responded yesterday to the announcement, denying the allegations. “He's only been threatened by the truth,” the president said. When does a line get crossed?
Attorney Antonio Moore discusses the new report “Dream Deferred: How enriching the 1% Widens the Racial Wealth Divide” with report author Chuck Collins of the Institute for policy studies. The two discuss the impact of President Obama's policy, the rising white wealth class, and the lasting impact of wealth calcification on black America
On this episode of Broke-ish, Delina and Erika discuss the fake Black Middle Class. But why is it fake? What factors determine if you are in the middle class? Discover all the reasons why today, we’re living under a middle-class illusion. Homework Are you middle class? Middle Class Calculator – Pew Research The 3Ms: Money (economic resources) Milestones (education, career, etc.) Mama’nem (culture, social access, etc.) The Receipts (Show Notes) The Road to Zero Wealth: How the Racial Wealth Divide is Hollowing Out America’s Middle Class Authors: Dedrick Asante-Muhammad, Chuck Collins, Josh Hoxie, Emanuel Nieves Date: September 2017 Median household wealth for Black families = $1,700 Median household wealth for white families = $116,000 The median black family is estimated to have $0 in wealth by the year 2053 Everybody Thinks They’re Middle Class (Bloomberg) Author: Sam Grobart Date: September 15, 2016 Why Americans All Believe They Are 'Middle Class' (The Atlantic) Author: Anat Shenker-Osorio Date: August 1, 2013 The American Middle Class Is Losing Ground (Pew Research Center) Author: Pew Research Center Date: December 9, 2015 Are you in the American middle class? Find out with our income calculator (Pew Research Center) Authors: Richard Fry and Rakesh Kochhar Date: September 6, 2018 The richest 1 percent now owns more of the country’s wealth than at any time in the past 50 years (The Washington Post) Author: Christopher Ingraham Date: December 6, 2017 Defining the middle class: Cash, credentials, or culture? (Brookings Institute) Authors: Richard V. Reeves, Katherine Guyot and Eleanor Krause Date: Monday, May 7, 2018 Cash (what’s in your bank account) Credentials (what’s on your resume) Culture (what’s inside your head) African Americans and the New Deal New Deal Programs Unions Helped Build the Black Middle Class. The Wealthy's Political Lackeys Are Out to Gut It. (Colorlines) Author: Rashad Robinson Date: March 2, 2018 The Warmth of Other Suns Author: Isabel Wilkerson Date: 2010 How much you have to earn to be considered middle class in every US state (Business Insider) Author: Libby Kane Date: April 2, 2015 Which Income Class Are You? (Investopedia) Author: Jake Frankenfield Date: October 5, 2018 Against All Odds: The Fight for a Black Middle Class (PBS) Black Women's Equal Pay Day equalpaytoday.org
Episode 111: I circle back on the bad deal made by politicians in New York and Virginia with Amazon, honing in specifically on the vicious anti-unionism Amazon pursues—and, despite the hallucinating by the NYC mayor that somehow bringing Amazon to NYC will magically turn it into a fuzzy pro union company, I talk with Dave Mertz of the RWDSU about the global path littered with Amazon’s attacks against unions and against workers. Dean Baker, frequent guest and senior economist of the Center for Economic and Policy Research, talks with me about the real profit centers for corporations—control over patents and copyrights, all of which adds up to one trillion dollars more in corporate profits, and hits on the average person’s wallet. Lastly, racism is a little talked-about aspect of the GOP tax cut robbery last year—Meg Wiehe, the deputy director of the Institute for Taxation and Economic Policy, talks with me about her recent excellent report called, “Race, Wealth and Taxes: How the Tax Cuts and Jobs Act Supercharges the Racial Wealth Divide”. -- Jonathan Tasini Follow me on Twitter @jonathantasini Sign up for The Working Life Podcast at: www.workinglife.org Facebook: http://www.facebook.com/jonathan.tasini.3
The Road to Zero Wealth: How the Racial Wealth Divide is Hollowing Out America's Middle Class, a report co-authored by ProsperityNow.org and The Institute for Policy Studies(see also Inequality.org). Dedrick Asante-Muhammad is Senior Fellow, Racial Wealth Divide at ProsperityNow.org, formerly with the NAACP & Al Sharpton's National Acti
Terrie Chantel climbed the corporate ladder in the IT field for over a decade before turning her focus over to the side hustle she had been building along preparing tax returns and doing credit repair. She has now launched The Greenhouse Academy, which is full of how-to trainings on everything from personal and business finance to credit repair. Today Terrie will share with us more about her personal credit story and how she learned about credit repair firsthand when discovering she had negative accounts in her name from childhood. She also shares with us about her emotional climb up the corporate ladder as an African American woman in the IT field and the passion that drove her to helping others with their finances. In This Episode We Discuss: The negative effects of trying to look and play the part of corporate America. How she got started in investments. What credit repair really is and who it can help. The importance of chasing passion and not money. Chantel's Website: https://mygreenhouseacademy.com/ The Word of the Day: Racial Wealth Divide Earning a middle-class income does not guarantee middle-class economic security. White households in the middle-income quintile own nearly eight times as much wealth as middle-income Black earners and ten times as much wealth as middle-income Latino earners. This disconnect in income earned and wealth owned is visible across the entire income spectrum between these groups. If the middle class were to be defined by wealth rather than by income, Black and Latino families in the middle-income quintile would need to earn 2-3 times as much as White families in order to enter the middle class. This is one reason why educating yourself is so important. There are plenty of initiatives working to help address this major problem. Institute for Policy Studies and Prosperity NOW have done extensive research and have very good resources to provide you with more information. We have a long way to go and one way I can see to start making changes is to keep financial conversations going. Remember, It’s not about the numbers but about the strategies. If you have financial questions, suggestions for guests, or would like to share your own money memoir, please contact us through our website worth-listening.com. If you're liking the show, make sure to let me know by leaving a review or sending an email to podcast@worth-listening.com.
Undercard: Did Prince & fake his death to join 2pac's think tank on solving racial inequity? Grudge Match: Which "Based on a True Story" films are actually based in truth?Main Event: Can Children's Savings Accounts (CSA) help families grappling with the Racial Wealth Divide (RWD)?Dedrick & Dyalekt are on the call with guest Carl Rist, Senior Director, Children's Savings & Senior Advisor of Asset Building at Prosperity Now. They spar with new paper: Reinventing Children's Savings Accounts to Address the Racial Wealth Divide (RWD).https://prosperitynow.org/resources/reinventing-childrens-savings-accounts-address-racial-wealth-divideSpecial Performance: Writing my Wrongs by Bop Alloyhttp://BopAlloy.Bandcamp.com @bopalloyProsperityNow.org @prosperitynow @dedrickmDyalekt.com @dyalektraps
Dedrick & Dyalekt discuss (with less alliteration) recent articles from conservative outlets that share under-researched ideas and spread disinformation about the Racial Wealth Divide and specifically about the economic status of Black Americans. They are joined by Antonio Moore, Emmy nominated producer of the documentary 'Crack in the System' and host of the Youtube show ToneTalks, where they break down the specifics of how data can be misconstrued, and he brings us the really real.B/W 'City Boi' by Phase One10 Myths of the Racial Wealth Divide: https://d.pr/f/ato4pNhttps://www.youtube.com/channel/UCfP8rCe_fAITriqI3UPYF0Q?app=desktop @tonetalksProsperityNow.org @prosperitynow @dedrickmDyalekt.com @dyalektrapsthelessonnyc.com @thelessongkhttps://youtu.be/ChCxDJn9g0M @phaseonemusic
Dedrick Assante-Muhammed, Senior Fellow, Racial Wealth Divide, Prosperity Now As Derick explains, the racial wealth divide is a product of centuries of racist public policies that make economic prosperity and achieving the American Dream exponentially harder for people of color. That historical context and the impacts of the Financial Crisis of 2007-2009, have created entire communities of low-wealth. The Racial Wealth Divide recognizes that income alone is not the answer. Financial savings, education, living in a safe neighborhood, and health benefits are assets that strengthen the economic prospects of families and communities. Dedrick takes this message, and the data that supports it, to a broad array of stakeholders, from on-the- ground community groups to media outlets and policy makers. Check out the Racial Wealth Divide podcast: @rwdpodcast and the Bridging the Racial Wealth Divide Facebook page, www.facebook.com/racialwealthdivide/
Dedrick & Dyalekt bring back the first R&W guest, Tom Shapiro to talk about studying the Racial Wealth Divide for over 20 years, as well as his new(ish) book, Toxic Inequality.Toxicinequality.org @tmshapiroProsperityNow.org @prosperitynow @dedrickmDyalekt.com @dyalektrapshttps://ceemoemoney.bandcamp.com/track/a-black-mans-wealth
Dedrick Asante-Muhammad is the guest on this week's episode of The Chauncey DeVega Show. He is Senior Fellow, Racial Wealth Divide at Prosperity Now and one of the principle authors of the much-discussed report, The Road to Zero Wealth: How the Racial Wealth Divide is Hollowing Out America's Middle Class. Dedrick has also held senior leadership positions with the NAACP and the National Action Network. On this week's podcast Dedrick and Chauncey share their personal reflections on race, family, and upward mobility, how class identity is incorrectly depicted in American popular culture as well as the perils and allure of TV programs such as Blackish and The Cosby Show. Dedrick also explains how the racial wealth gap is a threat to American prosperity (and democracy) for all people on both sides of the color line. In this week's episode, Chauncey advises caution for all the Democrats who are celebrating a win in the Pennsylvania special election and warns the public to not buy into the silly narrative that Donald Trump is somehow weakened by all of the supposed "chaos" in the White House. During this week's podcast Chauncey also reads a story about the working poor and a wonderful woman who worked for Disney World and could not afford a proper place to live--she was found dead in the car which served as her home. At the end of this week's podcast Chauncey shares some fun and bizarre stories about a gang of little people who robbed homes in Boston and how a man tried to seduce a gorilla named "Big George" at a zoo. And of course, Chauncey laments the end of Toys R Us.
A discussion with four members of the Closing the Racial and Gender Wealth Gap Panel: Thomas Shapiro is the Director of Institute on Assets and Social Policy and the Pokross Professor of Law and Social Policy at The Heller School for Social Policy and Management at Brandeis University. Melany de la Cruz-Viesca is the Assistant Director […]
During this podcast Dedrick again sits down with Farajii Muhammad of “Listen Up!” on WEAA. This time Dedrick sits down with Dedrick to discuss the Race and Wealth in Baltimore data profile. Dedrick goes in depth on the racial wealth divide in Baltimore and how having less wealth affects African Americans in Baltimore.
If average Black family wealth continues to grow at the same pace it has over the past three decades, it would take Black families 228 years to amass the same amount of wealth White families have today. For the average Latino family, it would take 84 years to amass the same amount of wealth White […]
In this episode we feature the webinar, “Programs, Policies, Partnerships: Coming Together to Heal the Racial Wealth Divide” from August 3, 2016. In this webinar you will meet three incredible people doing great work on the local level. First, you have Cecilia Gutierrez, Executive Director of Miami Children's Initiative in Liberty City, FL. She discusses the work being done in her community and how programs have changed this community. Next we have Sheley Secrest, Economic Chair for NAACP Seattle King County & NAACP Alaska Oregon Washington State Conference, who you may remember from our previous podcast, “Race and Wealth and Seattle with Sheley Secrest.” This time Sheley talks about the power of policies and effective grassroots advocacy efforts in her community. Finally, we hear from Dr. Corey Wiggins, Director of the Hope Policy Institute. Dr. Wiggins discusses the power of partnership and how to effectively build partnerships among nonprofits. To hear the full webinar you can go to this link for slides and handouts (http://cfed.org/knowledge_center/events/past/programs_policies_partnerships_coming_together_to_heal_the_racial_wealth_divide/) Miami Children's Initiative: http://www.miamichildrensinitiative.org/ Seattle King County NAACP: http://www.seattlekingcountynaacp.org/ Hope Policy Institute: http://hopepolicy.org/
Dedrick Asante-Muhammad and Kylie Patterson of the Racial Wealth Divide Initiative at CFED talk with Kilolo Kijakazi, currently an Institute Fellow at the Urban Institute and formerly a Program Officer for the Ford Foundation. We talk with Kilolo about her key role in helping to create the institutions, and even the words to describe and advocate, around the racial wealth divide. Kilolo explains her background and how she became a champion for savings and building assets, and discusses historical savings trends among different communities. The conversation then shifts to Kilolo's role in creating the Experts of Color Network and how it's bringing national attention the racial wealth divide.Closing the Racial Wealth Gap: Establishing and Sustaining an Initiativehttp://link.springer.com/article/10.1007/s12552-016-9165-xYou can contact the Racial Wealth Divide Initiative of CFED at the Bridging the Racial Wealth Divide Facebook page- www.facebook.com/racialwealthdivide/The intro is "Curiousity" by Lee Rosevere from the Album- Music for Podcasts.The outro is "Credit Roll" by Lee Rosevere from the Album- Music for Podcasts.Both tracks can be found at http://freemusicarchive.org/music/Lee_Rosevere/Music_For_Podcasts/Race and Wealth is edited and produced by Kye Hunter and Jessika Lopez with Dedrick Asante-Muhammad as co-producer
According to a new study released by the Pew Research Center, in 2009, the year of the study, the typical African American family had $5,677 in wealth, compared to the typical white household with $113k. The recession has just made things worse. So what happened to black wealth? How did the gap between the races grow so wide? And how do we get back on the economic road to wealth recovery? On the next Another View, reknowned economist, author, journalist and president of Bennett College for Women, Dr. Julianne Malveaux talks about the history of black wealth in this country and her new book, "Surviving and Thriving: 365 Facts in Black Economic History". Financial expert Yvonne Allmond also joins us with specific information on the steps you need to take to begin to build wealth. Plus, Lisa Godley brings us the story of Navy diver Carl Brashear and the efforts to keep his legacy alive. It's all on Another View, Friday at noon on 89.5 WHRV-FM, or whrv.org.
The Color of Wealth Income generation is one indicator of power differences between racial groups in the United States. But accumulated wealth, not income alone may be the most revealing index of inequality. So why the disparities? Author and organizer Meizhu Lui has some answers. Income generation is one indicator of power differences between racial groups in the United States. For instance, in 1968 African Americans made 55 cents for every dollar a white person made. In 2004, it was 58 cents. But accumulated wealth, not income alone, may be the most revealing index of inequality. So why the disparities? Author and organizer Meizhu Lui has some answers. Lui is from a family of Chinese immigrants. She was a kitchen worker for 20 years, and she rose through the labor ranks to become president of her local union. Now she's executive director of United for a Fair Economy, a non-partisan group that raises awareness about the damaging consequences of concentrated wealth and power in the United States. Lui recently co-authored the book ‘The Color of Wealth: The Story Behind the U.S. Racial Wealth Divide' and spoke in San Francisco at Cody's Books in June 2006. National Radio Project held a small joint-fundraiser reception with Meizhu Lui when she was in San Francisco on her book tour. Senior Producer/Host: Tena Rubio. Intern and technical assistant: Alexis McCrimmon The post Making Contact – April 6, 2007 appeared first on KPFA.
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