1 00:00:00,616 --> 00:00:05,315 Hello, my name is Ethan Adkins and I'm discussing today with Omar Drammeh on how 2 00:00:05,315 --> 00:00:10,166 we can bridge the racial and ethnic divide in relation to specifically economics. 3 00:00:13,487 --> 00:00:16,939 So to start, we're gonna talk about how there is the racial and 4 00:00:16,939 --> 00:00:19,170 ethnic economic divide specifically. 5 00:00:19,170 --> 00:00:23,898 For example, in 1968, the typical middle class black household 6 00:00:23,898 --> 00:00:28,546 held around $6,600 of wealth compared to around 7,100, 7 00:00:28,546 --> 00:00:33,452 71,000, my bad, for the typical middle class white household. 8 00:00:33,452 --> 00:00:36,847 And in 2016, you'd think that it'd get better, right? 9 00:00:36,847 --> 00:00:39,122 But it actually got much worse. 10 00:00:39,122 --> 00:00:43,405 It was 13,000 for the typical middle class black household, 11 00:00:43,405 --> 00:00:47,399 were 149,000 for the typical median white household. 12 00:00:47,399 --> 00:00:52,478 And in 2016, you'd need around 11.5 black households on average to get the net 13 00:00:52,478 --> 00:00:56,884 worth of one typical white US household, which my opinion is not very good. 14 00:00:56,884 --> 00:01:02,929 Why do you think and this may be a bit uneducated on this matter. 15 00:01:02,929 --> 00:01:04,975 >> First 11.5. 16 00:01:04,975 --> 00:01:06,146 >> 11.5. 17 00:01:06,146 --> 00:01:10,410 >> 12 separate households to make up one house? 18 00:01:10,410 --> 00:01:14,120 >> It is on average, but it's still a ridiculously high number. 19 00:01:14,120 --> 00:01:16,976 >> I think there's just under education going on and 20 00:01:16,976 --> 00:01:19,633 a lack of proper funding from the government. 21 00:01:19,633 --> 00:01:25,103 More POC populated areas tend to have less funding from their 22 00:01:25,103 --> 00:01:31,218 respective school districts and less funding on education leads to 23 00:01:31,218 --> 00:01:35,980 lower social status and level up I'd say- >> Yeah, I get what you're saying. 24 00:01:35,980 --> 00:01:39,842 >> If you're not as educated, you're not as likely to make more money. 25 00:01:39,842 --> 00:01:42,115 >> You're not gonna pursue those higher careers. 26 00:01:42,115 --> 00:01:47,640 >> Yeah cuz to make over six figures that's more than likely college degree and 27 00:01:47,640 --> 00:01:52,576 most people don't go past high school in more POC populated areas. 28 00:01:52,576 --> 00:01:56,485 >> Sure, sure, and keep in mind, these numbers were pre COVID. 29 00:01:56,485 --> 00:01:59,894 So we're gonna now look on COVID because obviously people have been losing 30 00:01:59,894 --> 00:02:00,497 their jobs. 31 00:02:00,497 --> 00:02:01,256 It's been getting worse. 32 00:02:01,256 --> 00:02:06,596 You can see here that pre COVID there was 5.8% unemployment rate for 33 00:02:06,596 --> 00:02:10,868 the black community, or for the white, it was 3.1 and 34 00:02:10,868 --> 00:02:16,844 here in September with COVID, it rose to 12.1% with the black community. 35 00:02:16,844 --> 00:02:19,493 And 7% in the white community, I think it's the same 36 00:02:19,493 --> 00:02:22,961 situation you're talking about, just more amplified, if you will. 37 00:02:22,961 --> 00:02:27,287 Because, Like you were saying, 38 00:02:27,287 --> 00:02:31,678 the less educated people probably lost their jobs more often. 39 00:02:31,678 --> 00:02:32,336 They were let go. 40 00:02:32,336 --> 00:02:36,701 Do you have anything to add on that? 41 00:02:36,701 --> 00:02:39,864 >> I mean I think you covered it but just like recap in a way. 42 00:02:39,864 --> 00:02:47,302 If you're less educated, you hold less value so to speak to your business. 43 00:02:47,302 --> 00:02:51,858 To your employer you hold less value if you're not as educated and based on what I 44 00:02:51,858 --> 00:02:55,938 initially said, if more POCs are less educated than those of non POCs, 45 00:02:55,938 --> 00:02:58,970 then they're more likely to get let go. 46 00:02:58,970 --> 00:03:02,380 Making up the reason for why the rate of unemployment is so high. 47 00:03:02,380 --> 00:03:03,376 >> Yeah, yeah. 48 00:03:03,376 --> 00:03:08,588 And here we can see real quick on figure two on the right hand side that 49 00:03:08,588 --> 00:03:13,710 with COVID, only 18% of the white people that were interviewed 50 00:03:13,710 --> 00:03:19,026 had trouble paying bills where it was 43 with the black community. 51 00:03:19,026 --> 00:03:22,969 It's 43% had trouble paying bills, which is quite a ridiculous number. 52 00:03:22,969 --> 00:03:24,955 So let's look at- >> [LAUGH] 43? 53 00:03:24,955 --> 00:03:26,449 >> Yeah, 43. 54 00:03:26,449 --> 00:03:28,051 So some solutions to this. 55 00:03:28,051 --> 00:03:32,324 I mean, I say overall awareness because people aren't aware, 56 00:03:32,324 --> 00:03:34,390 communication on the issues. 57 00:03:34,390 --> 00:03:37,649 You have anything to add? 58 00:03:37,649 --> 00:03:42,033 >> Yeah, with awareness, you just need to acknowledge that there's a problem. 59 00:03:42,033 --> 00:03:44,669 >> Of course. >> Communication I agree with but for 60 00:03:44,669 --> 00:03:47,718 the discussion, I think there should just be 61 00:03:47,718 --> 00:03:51,505 more government spending in more POC populated areas. 62 00:03:51,505 --> 00:03:56,131 Because the more funding you have, the higher level of education you get, 63 00:03:56,131 --> 00:04:01,125 a higher level of education leads to you pursuing more types of education leading 64 00:04:01,125 --> 00:04:02,827 to a smaller economic gap. 65 00:04:02,827 --> 00:04:07,774 So the gap will completely be bridged if more government 66 00:04:07,774 --> 00:04:13,270 spending was allocated and more awareness was given as well. 67 00:04:13,270 --> 00:04:15,290 >> Because right now the gap's just only getting worse and 68 00:04:15,290 --> 00:04:18,650 worse because it's here and it gets worse. 69 00:04:18,650 --> 00:04:20,600 This gets better, this gets worse, this gets better. 70 00:04:20,600 --> 00:04:21,890 So I see what you're saying. 71 00:04:21,890 --> 00:04:22,920 I agree. 72 00:04:22,920 --> 00:04:24,540 And I think that's about it. 73 00:04:25,560 --> 00:04:27,010 Thank you for your time. 74 00:04:27,010 --> 00:04:28,200 >> Yeah, of course. 75 00:04:28,200 --> 00:04:28,700 >> Thank you.