The U.S. Black-white wealth gap is larger than in South Africa at the height of apartheid. The statistic is all the more remarkable when considering that South Africa virtually mandated gross inequality by law, while in the U.S. the great chasm exists “within a political economy that is at least nominally democratic” and packed with Black elected officials, including “the sitting head of state.”
Jon Jeter, Black in Obama’s America
“The wealth gap narrowed to a ratio of 7 to 1 in 1995 before ballooning to 22 to 1 following a housing market collapse five years ago.
For every dollar in assets owned by whites in the United States, blacks own less than a nickel, a racial divide that is wider than South Africa’s at any point during the apartheid era.
The median net worth for black households is $4,955, or about 4.5 percent of whites’ median household wealth, which was $110, 729 in 2010, according to Census data. Racial inequality in apartheid South Africa reached its zenith in 1970 when black households’ median net worth represented 6.8 percent of whites’, according to an analysis of government data by Sampie Terreblanche, professor emeritus of economics at Stellenbosch University.”
(Source: thestolencaryatid, via drinkmasturbatecrismus)