chapotraphouse

Obama deleted half of the generational wealth of black communities overnight when he evicted 9 million American homeowners (mostly low income black and Hispanic families), thereby facilitated the biggest wealth transfer from ethnic minorities to private capital and ensured that they and their children will never accumulate enough wealth to become homeowners again in the future.

Biden’s economic policy is simply a continuation of Obama’s racist policy. For example, by raising interest rates to 5% within one year, people with low income are being penalized while the top 10% are largely shielded from it. To put in more clearly, black families whose median income are much lower than white families are paying a lot more due to higher interests (i.e. becoming even poorer) to sustain their livelihood. And the layoffs that resulted from rate hikes also affected low income segments first, which is why you are seeing a rise in black unemployment when the overall trend is going down.