jimrigby.org

Capitalism not only makes more money than any other economic system, it also concentrates it. Unfettered capitalism will make more and more money and funnel it to fewer and fewer hands. So in the US, profits have never been higher, but the middle class is disappearing. One of the reasons we are seeing more and more elements of a police state is that we will need domestic spying, private police forces and massive prisons to protect the handful of rich people from the masses of poor.

“A recent Urban Institutereport finds that the racial wealth gap — measured as the difference in wealth accumulated by white Americans and black and Latino Americans — is the largest it has ever been since the Federal Reserve started tracking it. In 1983, for every dollar held by the average black or Latino family, the average white family had five. In the aftermath of the financial meltdown and the Great Recession that figure today has increased to six dollars. The figures for the median post-recession family — a measure less skewed by America’s handful of superrich — are even further apart: in 2010, for every dollar held by the median black or Latino family, the median white family had eight.” -John Light, Moyers and Company

The irony is, it is willingness of mainstream white America’s to ignore the economic plight of people of color that will prepare them for the same fate. Capitalism has used racism to get poor whites to join in mistreating poor people of color for the whole of American history, but the only color capitalism really sees is green.

http://truth-out.org/news/item/18197-our-growing-racial-wealth-gap