Hello, my name is Ethan Adkins and I'm discussing today with Omar Drammeh on how
we can bridge the racial and ethnic divide in relation to specifically economics.
So to start, we're gonna talk about how there is the racial and
ethnic economic divide specifically.
For example, in 1968, the typical middle class black household
held around $6,600 of wealth compared to around 7,100,
71,000, my bad, for the typical middle class white household.
And in 2016, you'd think that it'd get better, right?
But it actually got much worse.
It was 13,000 for the typical middle class black household,
were 149,000 for the typical median white household.
And in 2016, you'd need around 11.5 black households on average to get the net
worth of one typical white US household, which my opinion is not very good.
Why do you think and this may be a bit uneducated on this matter.
>> First 11.5.
>> 11.5.
>> 12 separate households to make up one house?
>> It is on average, but it's still a ridiculously high number.
>> I think there's just under education going on and
a lack of proper funding from the government.
More POC populated areas tend to have less funding from their
respective school districts and less funding on education leads to
lower social status and level up I'd say- >> Yeah, I get what you're saying.
>> If you're not as educated, you're not as likely to make more money.
>> You're not gonna pursue those higher careers.
>> Yeah cuz to make over six figures that's more than likely college degree and
most people don't go past high school in more POC populated areas.
>> Sure, sure, and keep in mind, these numbers were pre COVID.
So we're gonna now look on COVID because obviously people have been losing
their jobs.
It's been getting worse.
You can see here that pre COVID there was 5.8% unemployment rate for
the black community, or for the white, it was 3.1 and
here in September with COVID, it rose to 12.1% with the black community.
And 7% in the white community, I think it's the same
situation you're talking about, just more amplified, if you will.
Because, Like you were saying,
the less educated people probably lost their jobs more often.
They were let go.
Do you have anything to add on that?
>> I mean I think you covered it but just like recap in a way.
If you're less educated, you hold less value so to speak to your business.
To your employer you hold less value if you're not as educated and based on what I
initially said, if more POCs are less educated than those of non POCs,
then they're more likely to get let go.
Making up the reason for why the rate of unemployment is so high.
>> Yeah, yeah.
And here we can see real quick on figure two on the right hand side that
with COVID, only 18% of the white people that were interviewed
had trouble paying bills where it was 43 with the black community.
It's 43% had trouble paying bills, which is quite a ridiculous number.
So let's look at- >> [LAUGH] 43?
>> Yeah, 43.
So some solutions to this.
I mean, I say overall awareness because people aren't aware,
communication on the issues.
You have anything to add?
>> Yeah, with awareness, you just need to acknowledge that there's a problem.
>> Of course. >> Communication I agree with but for
the discussion, I think there should just be
more government spending in more POC populated areas.
Because the more funding you have, the higher level of education you get,
a higher level of education leads to you pursuing more types of education leading
to a smaller economic gap.
So the gap will completely be bridged if more government
spending was allocated and more awareness was given as well.
>> Because right now the gap's just only getting worse and
worse because it's here and it gets worse.
This gets better, this gets worse, this gets better.
So I see what you're saying.
I agree.
And I think that's about it.
Thank you for your time.
>> Yeah, of course.
>> Thank you.