Birdnow's Aviary

November 25, 2022

Re-Bubbling

Al Moskowitz

This is from the Chase Bank website.

"Structural barriers in the U.S. have created profound racial inequalities, made worse by the pandemic. JPMorgan Chase is committed to helping close the racial wealth gap and driving economic inclusion by providing more opportunities for homeownership, increasing access to affordable housing, growing small business and bolstering financial health for Black, Hispanic and Latino communities across the nation."

Mark my words... this attitude and belief system will make this problem MUCH worse and waste precious resources in the process. It will also put discriminatory practices in place that limit deserving persons' access to the resources being discussed.

There are NO STRUCTURAL BARRIERS in the United States that are based on race that keep people of color from succeeding - in fact, it is JUST the opposite. There are already a plethora of opportunities that are based on unnaturally lowered standards that are in place in an attempt to change this condition. NONE OF THESE HAVE EVER BEEN SUCCESSFUL nor will they ever be successful.

If we want to close the racial wealth gap, we have to fundamentally change the culture of those groups who are currently adversely positioned. When entire communities of people are taught from birth to blame other groups for their problems, resent authority, assign NO value to pursuing education and/or hard work, and so on, further lowering the bar and taking opportunities away from those people who currently deserve them will not achieve the desired result and will make these problems MUCH worse for everyone.

This madness HAS to stop...

Tim adds:

So, in other words they want to pump the housing bubble back up. This is the very reason we had the big crash in '08. Banks were lending money to people who could not pay it back at the behest of the government over "equity" and "systemic racism". Now Chase will do it again. Brilliant!