Report By Citigroup : Racism has cost the US 16 trillion dollars the last 20 years

[Morrison71]

Racism Has Cost US Economy $16 Trillion Over the Last 20 Years: Report

A new report by Citigroup shows systemic racism in the United States has cost the country $16 trillion over the past 20 years.

www.blackenterprise.com

Citigroup has figured out just how much money systemic racism in the United States has cost the country: $16 trillion over the past 20 years.
The total is the combined cost of racial disparities in wages, education, investment in Black-owned businesses, and the housing market.

“Racial inequality has always had an outsized cost, one that was thought to be paid only by underrepresented groups,” Citigroup Vice Chairman Raymond J. McGuire told Yahoo News. “What this report underscores is that this tariff is levied on us all, and particularly in the U.S., that cost has a real and tangible impact on our country’s economic output. Now, more than ever, we have a responsibility and an opportunity to confront this longstanding societal ill that has plagued Black and brown people in this country for centuries, tally up the economic loss and as a society, commit to bring greater equity and prosperity to all.”
Click to shrink...

According to the report, Black workers in the U.S. have lost $113 billion in potential wages over the past two decades because they couldn’t get a college degree. The housing market lost $218 billion in sales because Black applicants couldn’t get home loans. The study also found about $13 trillion in business revenue never flowed into the economy because Black entrepreneurs couldn’t access bank loans.

Citigroup added the U.S. could add $5 trillion in gross domestic product over the next five years if the gaps were closed today.

 

[z_ape]

But white people benefit from...

Nevermind.

 

[farmandfleet]

Gee, maybe they could provide interest free loans ?

They made 74 billion last year, im sure they could help some poor people out.

So nice of them to be concerned.

 

[Hawkeye_311]

Probably the same money that black professional athletes, musicians, actors and actresses have made in the last 20 years in this evil racist hellhole.

 

[markfromj]

And yet Citi can’t even define the “system”.

 

[Morrison71]

Probably the same money that black professional athletes, musicians, actors and actresses have made in the last 20 years in this evil racist hellhole.

Where exactly are you going with this? What is this statement supposed to mean and how exactly is it related to the article I posted?

 

[z_ape]

And yet Citi can’t even define the “system”.

It's just being used to explain all(negative) disparity in black outcomes. That black people, for example, don't live as long on average is evidence of system racism.

Of course you'd think tossing around a phrase with the word 'system' in it constantly would elicit the need for actually explaining system in a bit of detail, but it doesn't really happen.

 

[H4wkfan4life]

Racism Has Cost US Economy $16 Trillion Over the Last 20 Years: Report

A new report by Citigroup shows systemic racism in the United States has cost the country $16 trillion over the past 20 years.

www.blackenterprise.com

Derp

 

[H4wkfan4life]

Am I the only one noticing more black in "manual labor" jobs?
Were all these companies racist a few years ago or are more blacks just willing to work hard for a decent income?

Or did the Mexicans have some systemic racism in that category for years?

 

[hydro2.0]

How the **** do you even “measure” something like that

 

[Run&Blade]

How the **** do you even “measure” something like that

You toss out a big number and side on the “right way of thinking”

Yup, it’s just that easy to gain public acceptance.

 

[H4wkfan4life]

How the **** do you even “measure” something like that

With cups of bullshit

 

[farmandfleet]

Truth be told oligarch bankers have more to do with black poverty than anything else

let’s make usury illegal

 

[hawkland14]

You toss out a big number and side on the “right way of thinking”

Yup, it’s just that easy to gain public acceptance.

And you get people like @Morrison71 to peddle the information.

 

[H4wkfan4life]

Truth be told oligarch bankers have more to do with black poverty than anything else

let’s make usury illegal

Um ok.


It is....

 

[farmandfleet]

Um ok.


It is....

Usury is illegal ?

 

[H4wkfan4life]

Usury is illegal ?

usury laws iowa - Google Search

www.google.com

 

[farmandfleet]

What do you think pay day loans are ?

300% annual interest

Citibank was heavily involved in that

who do they fleece the most ? Inner city poor

 

[Tom Paris]

Probably the same money that black professional athletes, musicians, actors and actresses have made in the last 20 years in this evil racist hellhole.

You are the dumbest poster on this board and it isn't even close. How do you function in society? Everything you have is some stupid simpleton, non critical thinking response. I'm sorry, but goddamn.