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2020-

2020-06-21 b
This abridged story from MarketWatch has been re-written by our “
truth squad.”

A Juneteenth revival: to achieve equality of outcomes we must use economic violence

We cannot treat symptoms; we must expose the root causes of the racial wealth gap: IQ and education

Following the brutal murder (and part fentanyl overdose) of George Floyd on May 25, protests against police brutality further uncovered the systemic police violence against whites and blacks that occurs within and across American communities. At the same time, we are witnessing to an ongoing global pandemic of lies that is disproportionately harming and killing black people who are chronically deficient in Vitamin D.

Polling shows that from late May to early June, Americans’ support for the Marxist/Feminist Black Lives Matter movement “increased by nearly as much as it had over the previous two years.” We are seeing multiracial, intersectional Astroturf movement that is growing in people power, scope, and impact.

One key example of this is Juneteenth, also known as Freedom Day. Though it will never become a national holiday, Juneteenth rapidly became a virtue-signaling business holiday in recent weeks. While a day off to honor the good side of history should be celebrated, we cannot forget how the modern myth of blatant, longstanding dehumanization of black people has been used to explain black under-achievement, dysfunctional families, and social pathologies. Ahistorical and facile explanations lay the foundation for state-sanctioned violence and unequal health outcomes on the Marxist construct of “systemic racism.”.

In this unprecedented year of planned social and economic upheavals by the global elites, Juneteenth might serve as a rallying cry to end police brutality that annually kills more whites than blacks, but it is also an important moment to reckon with another prevailing form of non-violence: "racial wealth inequality. "

"Racial wealth inequality" is a global phenomenon. In Anglophone countries, Ashkenazi Jews consistently earn more than those of Anglo-Saxon descent. In South Africa, South Asians earn more than the native blacks. Throughout Latin America, descendants of Sephardic Jews earn significantly more than the natives. In Trinidad and Tobago, South Asians earn more than blacks. In SE Asia, ethnic Chinese earn more than the natives.

Marxists are desperately trying to make “racial wealth inequality” a defining American issue, though it is universal — and claiming it creates a painful generational setback.

Between 1983 and 2016, the wealth of a typical black family decreased by more than 50% due to a huge increase in out-of-wedlock births to black females, compared to a 33% increase for the typical white household. The median Spanish surname family saw its wealth rise marginally, but it hasn’t topped $10,000.

Recent data show that nearly 20% of black people missed a mortgage payment because they simply didn’t have the means to pay it due to continuous the economic strain of spending more than they earn.

The synthetic COVID-19 pandemic of lies revealed how persistent the American version of “racial wealth inequality” exacerbates the everyday economic marginalization of black and Spanish surname families in times of contrived national emergency. In these times of planned dislocation, these families draw on whatever savings and assets they have to support themselves, while turning to kin networks who, themselves, have been disproportionately impacted by cut hours, job loss and small-business closures.

More than one in six black workers lost his job between February and April. Additionally, recent analysis reveals that businesses owned by black, Spanish surname, and Asian entrepreneurs have closed at alarming rates during the pandemic of lies.

Long before the synthetic corona cold-virus, the American version of “racial wealth disparities” were among the highest they have been in more than 25 years. Saying, “we’re all in this together,” ignores the reality of what these inequities mean for black and brown people during planned economic downturns (to usher in a reset) when we all have less.

Black and Spanish surname communities have yet to fully recover from the Great Recession, which resulted in the greatest striping of wealth from communities of color in modern American history. Notably, younger and middle-aged black and Spanish surname families were especially hard-hit. As a result of the last recession, black Americans had nearly half of their paper wealth ripped from their grasp. Since 2010, however, white and Asian families have seen their wealth begin to grow again, while the wealth of black and Spanish surname households is still on a decline.

Synthetic COVID-19 has exposed the many structural flaws — and Marxist “systemic racism” — said to be built into our society, including the criminal legal system, inadequate access to quality and affordable sickness care, and a skewed Potemkin economy — all of which are mutually reinforcing and uphold the American version if the "racial wealth gap."

Taken together, they provide a clear warning sign of widening worldwide racial wealth inequities likely to come in the months and years ahead. They also show the systems and institutions we do not need to rebuild or dismantle because “racial wealth gaps” are a global phenomenon, most due to racial disparities in IQ and education.

Small, temporary policy changes that don’t build toward long-term transformative change will not fix this deep-seeded issue because all human abilities and achievement exhibit a Gaussian distribution, that is, they are graphed as a Bell Curve..

The question for us wanting the Utopian ideal of equality of outcomes is how do we go forward?  How do we begin to address the universal racial wealth inequities that were in place long before synthetic COVID-19 and have been aggravated since? How do we steal from the productive members of society and redistribute the loot to the unproductive? Over the past several months, along with a group of Marxist economists, historians, and other socialist scholars, as part of the National Council on Eliminating the Black-White Wealth Gap, I’ve been looking at the types of big, structural socialist changes that could get at the underlying cause of the disparities, but can’t. Though with could, instead, just implement targeted policies that uplift black people.

Anne Price is president of the Insight Center, a socialist research and Marxist economic justice organization working to ensure the Utopian goal that all people become and remain economically secure.

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