*Attorney Antonio Moore and economist Matt Bruenig released a shocking breakdown of the 2016 Federal Reserve data released last week.
In a piece on People’s Policy Project the two showed that the reports stating that minority wealth is up have largely overstated the state of accounts.
In fact, when we use a true accounting method that excludes large durables, the median white family is worth 33 times as much as the median black family,
When we exclude the family car, we get a somewhat different wealth narrative than the one being told across media platforms nationally. Without the family car, the middle black family has a net worth of $4,160. The middle white American family in contrast is still worth $140,600. This means, using an accounting model that more accurately excludes the family car, the median white family is worth over 33 times that of the median black family.
In addition, they also showed data that contextualizes race and wealth in America by exposing the raw number of millionaires by race.
The 99th percentile black family is worth a mere $1,574,000 while the 99th percentile white family is worth over 12 million dollars. This means over 870,000 white families have a net worth above 12 million dollars, while, out of the 20 million black families in America, fewer than 380,000 are even worth a single million dollars. By comparison, over 13 million of the total 85 million white families are millionaires or better
Lastly the two showed that within race wealth disparities are at levels that make the astronomical numbers in general America actually seem small.
The data shows that the top 20% of black families control 95% of the little American black wealth that does exist. The interesting angle is to look at the wealth disparity within race without the family car. Without the family car the 99th percentile white family is worth $12 million. This means they are worth just fewer than 86 times as much as the median white family using the same accounting. But the telling narrative is to look at the intra-race black wealth disparity. Without the family car the 99th percentile black family is worth $1,574,000. This would make them worth 378 times as much as the median black family using the same accounting.
Read the full piece here, and join the dialogue by tuning in to hear Economist Matt Bruenig and Antonio Moore discuss their finding on Dash Radio – Dash Talk 10/6/17 on the Tonetalks show at 7pm pacific, or subscribe on Youtube to Tonetalks
Making People Laugh About the Hardships of Teaching Keeps Eddie B. Going (EUR Exclusive!)
*Eddie B. hit the mark when his “Teachers Only Comedy Tour” in 2017 played to sold-out audiences. His later show “I’m Already Professionally Developed Tour” was also a huge success.
With funny and telling commentary about what teachers really think has made Eddie B. a hit with educators and comedy fans around the world. While the former teacher is excited about his success, he takes it all in stride.
“People ask me why am I so humble and I don’t know how to answer that,” Eddie B. told the EUR in a recent phone interview. “The only answer I came up with one time is that the more thankful you are you have no choice but to display humbleness. You have to be thankful for what you have. So being humble and thankful go hand in hand.”
With COVID-19 rendering comedy-tours practically non-existent, the Houston native keeps the jokes coming and his routines fresh by crashing virtual conferences held by, of course, teachers.
“I’m doing a lot of Zooms,” Eddie B. said. “I’m doing everybody’s meetings and convocations. I’ve been busy, busy, busy. Thank God.”
The consummate “class clown,” he was always the funny one in the room and began making serious moves as a comedian while attending Texas A&M University (Kingsville).
Although he was earning a local name for himself, Eddie B. was not making the kind of money he had hoped. Continuing the comedy club circuit after graduation and taking odd jobs, he began teaching because it was steady pay. He remained a teacher for 13 years while still doing comedy.
“A lot of teachers say, ‘I’ve been wanting to teach my whole life. I was born this way.’ No, you weren’t.” the single father laughed. “I’m a tell you right now 70% of all teachers didn’t want to teach. I guarantee you that. Teaching is a profession you get stuck in. The only reason you get stuck is because of the kids. You know the money’s not keeping us. It’s our relationships with the kids and other teachers too – the camaraderie of it all.”
Eddie B. retired from teaching for a short while during his tenure but soon had to return to pay the bills.
“I’m hearing Steve Harvey and ‘em say, ‘You gotta jump. Take the leap,’ That’s cute,” he added. “But what the hell do you do when you take the jump and you get pulled back? I jumped as high as I could and got snatched back down, which led me to believe that it’s got more to do with timing then jumping.”
Down but not out, Eddie B., who showed off his craft on YouTube, said a voice inside his head told him, “’Hey, why don’t you do a video about (teaching)?’ So, I shot it before the kids got in my (school) room and put it out by lunch time. But I was like I don’t even have teaching in my comedy.”
“A couple of days later on my Instagram I got about 100,000 views,” he continued. “I thought something was wrong. I thought it was a glitch. It was just teachers bouncing it off and that was the magic of it. It kept growing and growing. Millions of views and the video was only sixty seconds. It was called ‘What Teachers Really Want to Say’ and I was like man if they like this I’ve got 13 years of this.”
Now that he was getting traction, he had to figure out a way to keep the momentum going with the newer audience.
“What they (the teachers who liked his videos) didn’t know was that I’m a comedian,” Eddie B. said. “They just thought I’m a funny teacher. I had to take what I knew about teaching and put it in a (comedy) set now.”
But could he do that without alienating those who had supported his regular comedy for so long?
“My comedy wasn’t always clean. I used to curse with every other word. I’m from the neighborhood and a large percent of my audience is Caucasian (white women teachers). They don’t want to hear that language. But I’ve been on tour for almost 4 years now and I’ve toned it down. I had to grow with it and learn on the job. It was like teaching.”
For more on Eddie B., and to find out where he may be next virtually and otherwise, go to his official website here.
You can also buy his book, “I’m Already Professionally Developed: Straight from the Teacher’s Desk,” released last year.
JeffCars.com’s Review: 2020 Hyundai Sonata Hybrid Limited
Highlight: This year’s model includes a solar control fixed glass roof.
Test Vehicle’s MSRP: $37,070 (Base Model: $28,725)
Seating Capacity: 5
Standard Safety Features: airbags; side airbags; ABS; a radar activated cruise control system; a blindspot collision avoidance assist system; a rear cross traffic alert system; a forward collision alert system; a high beam assist system; tire pressure monitoring system; a traction control system; a stability control system; a tire repair kit; and a rearview camera
Standard Equipment (Blue): 16-inch wheels; a 6-speed automatic transmission; front-wheel drive; LED headlights; LED Daytime Running Lights; LED taillamps; a push button ignition starter; a keyless lock/unlock system; a hands free trunk; a manual operated tilt/telescopic steering wheel; dual power folding mirrors; a solar control glass a chrome tip single exhaust; cloth seats; manual control front seats; rear split folding seat with a center armrest; a push button gear control system; an automatic climate control system; steering wheel mounted paddle shifters; and an 8-inch infotainment screen
Standard Equipment (Limited): 17-inch wheels; full LED taillamps; side mirror LED turn signal indicators; dual power heated folding mirrors; heated body color side mirrors; a rear bumper with parking sensors; laminated front glass; solar glass roof panel; leather seats; power front seats; heated and ventilated front seats; a wireless device charging system; dual charging USB ports; front console mounted rear vents; a leather wrapped steering wheel; a heated steering wheel; a 10-inch infotainment screen; a 12-speaker Bose audio system; a heads up display (HUD); a highway driving assist system; a Hyundai digital key; an electronic automatic rearview mirror; a 360-degree camera; an electronic blindspot monitor; ambient lighting; and front and rear parking sensors.
Optional Features On Test Vehicle: None
Other Trim Levels:
non hybrid trims
Standard Audio On Test Vehicle: a 6-speaker AM/FM/HD with SiriusXM
Apple CarPlay/Android: Yes
Bluetooth Connectivity: Yes
USB Connectivity: Yes
Bumper-to-Bumper Warranty: 5 years or 60,000 miles
Powertrain Warranty: 10 years or 100,000 miles
Hybrid System Warranty: 10 years or 100,000 miles
Hybrid Battery Warranty: Lifetime
Standard Engine/Horsepower: 2.0-liter, 4-cylinder/192-hp
Recommended Fuel: Regular
Standard Fuel Mileage: 45-city/51-hwy
What’s New: The eighth-generation Sonata has evolved from a vanilla looking ugly duckling to more like a swan, taking more styling cues from the sixth- generation breakout design, which was a game changer for both the midsize car market as well as the Korean brand.
To continue reading the review, click here.
About The Reviewer: Jeff Fortson is the host of Auto Trends with JeffCars.com, the only syndicated multicultural automotive radio show on the airwaves. The 30-minute weekly show, which airs on SiriusXM 141 and a number of FM radio dials, includes one-on-one conversations with many of today’s pioneers and influencers. The engaging show, which goes beyond traditional car talk, can be heard on your mobile and stationary audio devices, clicking here.
Richard Sherman Tackles ‘Adulting’ The Right Way In New Digital Series / EUR Exclusive – WATCH
*Known for being frugal, NFL star Richard Sherman is handing out financial advice to young people in a new digital series.
Launched in August 2020, “Adulting With Richard Sherman” is a 12-part digital show produced by Million Stories Media. The new media company, a project from the Singleton Foundation for Financial Literacy and Entrepreneurship, offers programming focusing on career, money, and budgeting matters for millennials and young families.
“Richard Sherman is the perfect choice to headline ‘Adulting,’” said Shelley Miles, CEO of the Singleton Foundation, in a press release. “His personality, personal story and likability will draw in viewers and his passion for financial matters will help get young people interested in their own financial futures. He connects with our foundation mission on so many levels and we couldn’t be more thrilled to have him on board.”
Available at no-cost on millionstories.com, viewers can expect no-nonsense talk from the San Francisco 49ers cornerback, who reportedly drove a $30,000 Dodge Challenger until as late as 2018. Topics include handling student loans and staying away from payday loans (see episode here).
Additionally, Sherman tackles other topics such as building credit and having an emergency fund, which is great advice especially during the pandemic. (See episode here.)
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