2020 electioneconomic justicewage stagnation

Stunning Statistics on Minority Wealth Disparity and Why Real Change is Needed




 

“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 [had in 2013]. That’s just 17 years shorter than the 245-year span of slavery in this country.

“For the average Latino family, it would take 84 years to amass the same amount of wealth White families [had in 2013]—that’s the year 2097.”

This is why minorities should consider progressive presidential candidates that offer a real chance to increase their own wealth-building potential. Old-line, traditional corporate Democrats will never even consider the strong economic proposals needed to close the wealth gap.

This means that millions of Americans, white, black, Latino,  will not only have a low probability of never being wealthy when they are young, but they will have an even poorer chance of retiring and then maintaining the lifestyle they had when they were working.

Source:

The Nation magazine , 

More bad economic news for the wealth situation for minorities is at The Guardian in the article, “Median wealth of black Americans ‘will fall to zero by 2053’, warns new report.” Although this article is over two years old, it is still relevant since nothing has changed for the better. Needless to say, the Republican wealth creation policies for minorities are non-existent or else rely on becoming “entrepreneurs,” a noble pursuit, but one with a high probability of failure.

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Chuck Epstein

Chuck Epstein

Chuck Epstein has managed marketing communications and public relations departments for major global financial institutions and participated in the launch of industry-changing financial products. He also has written by-lined articles for over 50 publications, five books and served as editor and publisher of nation’s first newsletter on the topic of using the PC for personal investing and trading. (“Investing Online, 1994-1999). He also is a marketing consultant, writer and speaker on topics related to investor protection and opportunities in the very dynamic cannabis industry.

He has held senior-level marketing, PR and communications positions at the New York Futures Exchange, Chicago Mercantile Exchange, Lind-Waldock, Zacks Investment Research, Russell Investments and Principal Financial.

He has won national awards from the Mutual Fund Education Alliance (MFEA) and his web site, www.mutualfundreform.com, was named best small blog in 2009 by the Society of American Business Editors and Writers (SABEW).

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