Site icon YCNews

20 years caused 16 trillion US dollars in losses Western media: racism continues to extend along the “spine” of the United States

20 years caused 16 trillion US dollars in losses Western media: racism continues to extend along the "spine" of the United States

October 30 that the Spanish “Nation” website published a report entitled “Racism Costs the United States High” on October 25, stating that the history of the United States is to a certain extent the history of racism, and this ”

“Bone fractures” are still running down the American spine. According to a 104-page report by Citigroup, so far this century, racism has caused US$16 trillion in losses to the US economy. The full text is excerpted as follows:

Racism turns the stripes of the American flag into cracks and the stars into potholes. This is a structural issue. According to a 104-page report by Citigroup, so far this century, racism has caused US$16 trillion in losses to the US economy.

According to the Fed’s estimation in 2016, the average wealth of white American households is about 171,000 US dollars, and the average wealth of black Americans is only 17,600 US dollars, and the actual situation may be worse. 

One in five African American households has a net worth of zero dollars or debt. 75% of people do not even have a $10,000 deposit when they retire. 

Citigroup reports that 80% of white Americans own the property rights of their homes, while only 47% of blacks own the property. Crime seems to be the biggest problem that breeds in this situation. 

Blacks are five times more likely to go to prison than whites, and account for more than 33% of the prisoners. Blacks account for only 12% of the total population of the United States. There is no doubt that the 400-year history of slavery is still having an impact on the daily lives of black Americans.

 Citigroup said that eliminating inequalities in investment, education, real estate, and wages may increase US GDP by $5 trillion in the next five years.

But numbers are just ships that go against the trend of reality. Calvin Schermerhorn, a professor of history at Arizona State University and an expert on slavery issues, pointed out: “The idea of ​​slavery continues in the supremacy of the white economy.

This economic system deprives black Americans of their wealth and income, and inequality continues. Expanding rather than shrinking. Slavery has reverberated in the mass incarceration of blacks and Latin Americans and through unpaid or degrading prison work.”

“President, my last name is Perez. Which side of the border wall should I be on?” This is a question asked by Jorge Perez, the boss of the Related Group, a New York real estate developer, to Trump a few months ago. 

Perez is a Democrat and one of the richest Hispanics in the world. Trump is his long-term partner and friend. Perez was born in Argentina and grew up in Colombia. Through his company in Miami, he became the most well-known real estate developer on the East Coast of the United States.

He pointed out that racial discrimination in the United States has improved, especially in Florida. “Unfortunately, we can still often see cases of refusing to rent apartments to blacks with various excuses.

In addition, it is more difficult to obtain mortgages in black communities. The road ahead is still very long.” He exclaimed. The current gap between black and white home ownership in the United States is higher than in the 1950s or 1960s.

This year, there have been at least three blacks shot and killed by American police. The outbreak of the “Black People’s Lives Also Matter” movement shows that racial issues are rooted in the soul of this country.

Exit mobile version