Black American Wealth Disappears What is Next?
Attorney Antonio Moore talks Federal Reserve Reports on Wealth Data coming in 2017, and about his viral Video "Racial Wealth Gap in 60 Seconds" Subscribe to the channel on Youtube ToneTalks
"Black Wealth in America Hardly Exists" Excerpt #Blackwealthmatters, I have written extensively on the subject on sites from Inequality.org and beyond. Today we stand at a place where African Americans own little if any of America’s land, produce little if any of the country’s resources and possess negligible amounts of this nation’s immense wealth. This is all while they still project aspiration based on a blind faith in the American Dream. We see the effect of the fallout from Chicago to Baltimore, as the police march into rioting black communities starved of resources. Yet no one is talking about the state of black life as the economic catastrophe which it has become in a substantively consistent way. We’re not hearing anything from President Barack Obama, not the Congressional Black Caucus, and definitely neither Clinton nor Trump. Not even black families themselves are dealing with the financial realities of these times. It is as if there is a belief all this economic tragedy can exist, and black Americans can still buy homes, pay off student loans and save for retirement, despite all the current data showing otherwise. As an example, the National Association of Real Estate Broker’s 2016 report, “The State of Housing in Black America” recently stated, that the current home ownership rate for blacks is at a twenty year low of 41.7 percent. To give that rate context, it is lower than the national home ownership rate was during the Great Depression of the 1930s.