Racial and Ethnic Inequalities in Household Wealth Persist [the Operating System of Racism White Supremacy Continually Refines Itself while most Black sheople are Oblivious to its Existence]

the operating system of racism white supremacy is thriving - as it goes on continually updating and refining itself while most Black sheople are oblivious to its existence, continue to live in a reactionary state and have become politically powerless, “complicit in their own political emasculation,” and kept in a continuous state of checkmate.

WHEN YOU SAY RACISM DO YOU MEAN BAD WORDS, DISRESPECT AND BIGOTRY OR RACISM WHITE SUPREMACY

From [HERE] Disparities in wealth are pronounced across racial and ethnic groups in the United States. As part of an ongoing series on inequality and equitable growth, we have been documenting the evolution of these gaps between Black, Hispanic, and white households, in this case from the first quarter of 2019 to the fourth quarter of 2023 for a variety of assets and liabilities for a pandemic-era picture. We find that real wealth grew and that the pace of growth for Black, Hispanic, and white households was very similar across this timeframe—yet gaps across groups persist. 

Data Sources 

For this analysis, we rely on the quarterly demographic wealth distributions published in the Federal Reserve Board’s Distributional Financial Accounts (DFA), which are estimated using microdata from the Survey of Consumer Finances (SCF), and aggregate financial data from the Fed’s Financial Accounts series. Due to sample size concerns, we have omitted Asian and Pacific Islander households and households from smaller groups. Hereafter, references to the “study population” refer to Hispanic, non-Hispanic Black, and non-Hispanic white households. We define wealth as net worth (assets minus liabilities). 

We had previously written on racial and ethnic differences in wealth in a February 2024 blog post (as well as differences by age) and found a decline in the aggregate real wealth of Black households after 2019. However, some questions about the data, related to the sample of Black households, came to our attention after that post and we decided to revisit the analysis at the household level rather than the aggregate level.

At the beginning of 2019, Hispanic and Black households constituted 11 percent and 16 percent of households in the study population, respectively, yet they held just 2.7 percent and 4.9 percent of total wealth of that population. Meanwhile, 73 percent of households in our sample were white and held 92.4 percent of the wealth. In 2019 dollars, the average Black household held $253,000 in wealth, the average Hispanic household held $205,000, and the average white household held $1.06 million. The data allow us to calculate wealth estimates for average households by group but not for median households, so we report only averages. [MORE]