Study Predicts That It Would Take Black Families 228 Years To Catch Up With White Wealth Today

A new study predicts that in the future, the wage gap between White Americans and Minorities continues to grow larger as opposed to getting better– and it would take 228 for black families to acquire the wealth of white families today.

Via The Nation

If current economic trends continue, the average black household will need 228 years to accumulate as much wealth as their white counterparts hold today. For the average Latino family, it will take 84 years. Absent significant policy interventions, or a seismic change in the American economy, people of color will never close the gap.

Those are the key findings of a new study of the racial wealth-gap released this week by the Institute for Policy Studies (IPS) and the Corporation For Economic Development (CFED). They looked at trends in household wealth from 1983 to 2013—a 30-year period that captured the rise of Reaganomics, expanded international trade and two major financial crashes fueled by bubbles in the tech sector and housing prices. The authors found that the average wealth of white households increased by 84 percent during those three decades, three times the gains African-American families saw and 1.2 times the rate of growth for Latino families.

To put that in perspective, the wealthiest Americans—members of the Forbes 400 list—saw their net worths increase by 736 percent during that period, on average.

If those trends persist for another 30 years, the average white family’s net worth will grow by $18,000 per year, but black and Hispanic households would only see theirs grow by $750 and $2,250 per year, respectively.

Check out this visualization of what this study means courtesy of IPS.

Thoughts?

Ty Dolla $ign Ft. TC – No Justice

Tidal and Ty Dolla are trying to raise awareness with the #SchoolsNotPrisons campaign. The singer is set to go on tour for the cause, you can read more about it here.

“California has been overspending on prisons for years, lying to us about how they keep our communities safe by locking people up,” said Ty Dolla $ign. “Young blacks and minorities get hit the hardest in this culture of punishment. This tour will raise awareness and radical reform for America’s criminal justice system. I’m asking everyone to stand with me and support local campaigns for change.”

Stream the full track on Tidal here.

The Finest Wild’N’Out Girls Ever

We’ve already highlighted Nick Cannon’s ability to pull beautiful a$$ women in his personal life. But he’s also known for being surrounded by beautiful women in his show Wild N’ Out. If you watch you’ll notice the lovely ladies in the crowd giving a bit of eye candy with the laughs. Let’s take a look…

Jhene Aiko Files For Divorce From Dot Da Genius After 11 Months Of Marriage

Jhene Aiko and her hubby of less than a year have finally called it quits!

According to TMZ, the singer made things official by filing papers to divorce Dot da Genius just months after their marriage. Jhene has been rumored to be smashing Big Sean to smithereens for just as long…

Aiko and Dot were married for only 11 months. Jhene was recently linked to Big Sean. The two have been working together and this past June they made out in front of an Anaheim concert crowd.

Jhene’s asking the judge to deny Dot spousal support.

She’s listed irreconcilable differences as the reason for the breakup … that’s code for anything you want.

Now Big Sean and Jhene can stop acting and admit their shady relationship was real…

OH GAWD!!

Congrats to Big Sean!

IG

Rihanna To Receive Special Honor At 2016 VMA’s

Everyone’s favorite Bajan bad gal is snagging some special honors at this year’s MTV Video Music Awards…so we can definitely expect to see her shake and wine it across the stage after she picks up her golden Moon Man. Via MTV:

The “MTV Video Music Awards” will bestow Rihanna with its highest honor, the “Michael Jackson Video Vanguard Award,” for her decade-long impact on music, pop culture, fashion, film and philanthropy. Rihanna will perform during the ceremony LIVE from New York’s iconic Madison Square Garden on Sunday, August 28 at 9:00 PM ET/PT.

Two-time VMA “Video of the Year” winner and the youngest solo artist to score 14 No. 1 singles on the Billboard Hot 100—the fastest to do so, Rihanna’s unparalleled output of hits have spawned some of today’s most memorable music videos from “Umbrella” to “We Found Love,” “Diamonds” and her most recent collaboration with Drake on “Work.” To download a photo of Rihanna, click here.

With this honor, Rihanna joins the prestigious list of past Vanguard recipients including Michael Jackson, Madonna, Peter Gabriel, Guns N’ Roses, Beastie Boys, Britney Spears, Justin Timberlake, BEYONCÉ and Kanye West.

Congrats RiRi! Safe to say this one is pretty well-deserved…what’s your fave vid of hers?

MTV/Splash

President Obama’s Playlist Breaks The Internet

President Obama added YET ANOTHER win to his legendary collection after dropping an undeniably LIT summer playlist for the people that has the internet on fire.

Hit the flip for the best (and funniest) reactions to President Obama’s FIRE summer playlist.

LAPD Killed 14-Year-Old Suspect After He Allegedly Shot At Them

Another day, another cop catches a body.

Via CNN

Los Angeles police shot and killed a 14-year-old boy after he shot at the officers, police said Wednesday.

The department’s gang unit was investigating a vandalism call in a neighborhood east of downtown around 5:35 p.m. Tuesday when they encountered two youths. One ran off and two officers pursued, police said.

“According to a witness who saw the subject running from the officers, the witness saw the subject shoot a handgun in the direction of the pursuing officers,” said LAPD Deputy Chief Robert Arcos during a news conference. “While the loss of life is always tragic, it is particularly so when the loss involves a youth.”

Oh, so the LAPD thinks killing people is tragic? Interesting…

The teenager, identified as Jesse James Romero by the Los Angeles County Coroner, was pronounced dead at the scene. The other suspect did not flee police and he was questioned and released.
Neither officer was harmed, but they heard a gunshot as they were rounding the corner, Arcos said. One of the officers then fired back and killed Romero, Arcos said.

A loaded handgun was recovered by the teenager’s body but it was too soon for investigators to determine whether it had been fired or whether it had been used by Romero, Arcos said.

OH! SO, they don’t know if he really shot at them or not. VERY interesting…SMH.

Image via Shutterstock

Jennifer Lopez And Casper Smart Having A Baby

It ain’t hard to tell Casper has been plotting on that womb for awhile now! Word on the curb is that Jennifer Lopez is currently carrying her third child…. Mind you she is 47.

According to RadarOnline reports:

A family source told Radar that Lopez is three moths along — but they are waiting until she starts showing to officially announce the big news!

“Casper told all of his relatives this week and they are all so excited,” the insider said, adding, “They do not know the sex of the baby yet and they are just praying that they will have a healthy child and that there will be no complications.”

“His family really loves Jennifer and they are certain that she is going to make an excellent mother!”

Lopez — who is already a mother to eight-year-old twins with ex Marc Anthony, Max and Emme — briefly split with Smart in 2014. However, the duo remained best-friends, which eventually brought them back together!

“Jennifer is so good to Casper and when the two of them are together, she is just an ordinary woman. They really ground each other and are very much in love,” the source told Radar.

“Jennifer is going to continue eating healthy and working out until doctors tell her not to,” the family insider said. “But that has not stopped her cravings from coming and Casper is doing everything that she wants to make sure she is happy!”

Well that’s great to hear. We just gotta wonder, is J.Lo gonna give Casper what he wants?

Life & Style was the first to make pregnancy claims for the pair — and they are also saying that Smart wants to wed Lopez before the baby is born.

Should she say I Do for a fourth time?

WENN

After Pat and Dedra ruin her brunch, Maja strikes back and hits Pat where it hurts – her coin. Mushiya confronts LaKenya, which triggers a blowout fight, sending a weave flying! Dedra lays plans to build her empire. Maja tentatively accepts LaKenya’s apology and pledge of loyalty, but questions Beautii’s allegiance when she finds out that Beautii may have betrayed her. Tune in August 11 at 10PM ET/PT

Tyga To Be Arrested At Customs After Island Getaway

Tyga is already being chased by his creditors…and now, it looks like all those skipped payments have the law looking for him as well.

While Chester Tyga has been sunning it up in Turks And Caicos with his barely legal bae Kylie Jenner and all her young friends for her 19th birthday for the last few days…the courts have been looking for him to answer to a former landlord that he owes roughly $500k. Since he didn’t bother to cut his days running around the Carribbean with teenage girls short to handle his responsibilities…now he’s got a warrant out for his arrest.

Via TMZ:

Tyga is about to get an unwelcome homecoming when he returns to the U.S. from Turks and Caicos … he’s probably gonna get arrested.

Law enforcement sources tell us … LAPD, L.A. County Sheriffs Dept. and U.S. Customs have been notified … there’s an arrest warrant out for Kylie Jenner’s boyfriend. TMZ broke the story … Tyga was a no-show in court earlier this week in connection with a $480k judgment his former landlord is trying to enforce.

The judge issued the warrant and it’s now in both the federal and L.A. systems.

We’re told when Tyga returns home, U.S. Customs will detain him and notify L.A. authorities, who can then come and hook him up.

If Tyga decides not to fly directly to L.A., it won’t solve his problem. If, for example, he lands in Miami, Customs will detain him and call L.A. authorities, who have the right to come and get him.

We’re told L.A. law enforcement was specifically notified because Tyga is considered “high profile,” especially because of his connection to the Kardashian clan.

Tyga can try to get the warrant recalled, with the help of his lawyer … if the judge goes along.

SMH. Kylie’s big sis Kimmy needs to school her on how to properly pick rappers and athletes to date.

Splash

Tamar meets with producers who want to put the Braxtons on Broadway, but her sisters’ reaction to the big surprise shocks her. Trina seeks a hypnotist to conquer her fear of birds but her sisters interrupt her session. Towanda rents a condo in LA to be closer to her acting school pursuits, but Trina worries her new place may mean a big move.

Snoop Dogg is on the East Coast right now on his The High Road Tour.

He took a moment to wake up very early Thursday morning to talk with The Breakfast Club. Continue

“Leave my God-d*mn kids out of it!”

Drea Kelly Sounds Off On Monie Love

Drea Kelly sounds really mad about Hip-hop vet turned radio personality Monie Love for mentioning her (and her children?) during a gossip report about R.Kelly and his alleged teenage girlfriend. So much so, she went off for 18 minutes about it. She starts to tear up a little around the 12 minute mark.

Here’s the audio just in case Drea’s periscope tweet gets deleted.

Interesting.

Monie Love plays the exact clip Drea is angry about and gets her chance to respond to her periscope outcry after the flip. Do you think Monie was being viscous by repeating stuff that’s already been in the news?

The Ed Lover Show

Romeo Miller Squashes 10 Year-Old Beef With Bow Wow After Penning Instagram Letter

Stop what you’re doing because Romeo and Bow Wow are friends again, y’all!!!!!

Master P’s son has finally reached out to his child nemesis, Shad Moss, and penned this heartfelt Instagram letter on their old zzz beef:

Bow Wow posted this #TBT photo with Master P right before Romeo posted his photo:

Do you give a mighty morphing f**k?!

IG

Must-See Memes Of The Week

Back at it again with the absolute funniest (and pettiest) memes for your weekend funny.

Hit the flip for the funniest memes of the week.

Knocked up or nah???

Is Jennifer Lopez Pregnant Again???

Remember when we told you about those rumors that J.Lo’s toting her first gut full of Casper Smart???

Well sources close to the singer/upcoming star of the Griselda Blanco movie are reporting that she’s NOT pregnant and sharing pictures to prove it.

TMZ reports:

Jennifer Lopez is not pregnant … not even a little bit.

J Lo’s longtime friend and manager, Benny Medina, tells TMZ, the stories floating around that Jennifer is pregnant are “100% not true.”

Medina doubled down, sending us the pic (above), snapped late last night … after her Vegas show. Medina said, “Does this look like pregnant?”

Two other sources in a position to know — especially one — confirm, she’s not pregnant.

This was also J. Lo on July 11.

Do YOU think she’s knocked up (and waiting to make an announcement) or nah???

“My birthday is April 15…”—Karlie Redd

Karlie Redd On BOSSIP’s “Don’t Be Scared” Podcast

Remember when we told you that Karlie Redd aired out her ex Lyfe Jennings on our “Don’t Be Scared” podcast….

“When you’re fake from the get-go you can’t even afford to buy —it wasn’t even a bubble gum ring. He’s a fake person so I expected a fake ring.”

and then proceeded to announce that she and Tommie Lee were FAR from friends.

“Let’s keep it 100, I am NOT friends with Tommie,” said Karlie. “I met Tommie at a club, we are not friends. I don’t have the b*** number, we never went to the grocery store together, we were never bosom buddies, she don’t have my number.”

Well while chatting with Dani, Alex and Jah she also responded to the question about her real age.

According to Karlie hackers constantly change her age online, and Google even sent her money for the enormous amount of searches in connection to her birthday.

“What the f*** is up with them hacking my motherf**** age on Google?” said Karlie. “Today I’m 48, tomorrow I’m 50. My birthday is April 15, the other day it was [listed as] April 2. Google contacted me and said, ‘Look here we got a check for you sweetheart.’ All them searches for your age is like top s*** on Google all the time especially when the season comes around.”

19:55

So just how old is Karlie Redd??? The closest we got to a real answer was this;

“No I’m not 50,” said Karlie. “I am absolutely not 50, nowhere near 50, not even close.”

WELP! Your guess is as good as ours, how old do YOU think Karlie Redd is???

In addition to her age, Karlie dished on her Playboy podcast and detailed some dating horror stories.

Listen to her on Don’t Be Scared below.

@KarlieRedd
@BossipDBS
@HipHopObama
@IamDaniCanada
@AlejandroDaGr8

Ever take a look at the Forbes 400 annual listing of Americans with more than $1.7 billion in holdings–there are only two Blacks listed. Even though we keep celebrating the fact that African Americans’ buying power reached $1.1 trillion in 2015, Black wealth still lags woefully behind that of white Americans. Due to a lack a wealth building in the Black community–we tend to spend our money outside the community and don’t save or invest as much–it will take Blacks in America hundreds of years to just to catch up to white wealth. Specifically, it will take a whopping 228 years to close the wealth gap between Blacks and whites in America. This, according to a just released report from the Corporation for Economic Development and the Institute for Policy Studies. Latino families will fair a lot better–it will take them 84 years to close the gap…
[MadameNoire]

This Is The Worst State For Black Americans

If you had any plans of moving to Wisconsin, you might want to rethink that. Turns out Wisconsin is the worst state for Black Americans. There are a number of factors making the Badger State a bad place for Blacks, including the fact that is has the biggest wealth gap between Blacks and whites. Blacks in the state have lower median annual incomes, higher unemployment, and lower college graduation rates, according to a new report by financial news and opinion website 24/7 Wall St. The report listed all 50 states on metrics of Black and white inequality. And Wisconsin, which topped the list, was not the only Midwest state that ranked high. Minnesota came in as the second worst state for Blacks, Illinois ranked no. 5, and Iowa ranked the 10th worst state for Blacks…
[MadameNoire]

Tim Westwood Unearths 52 Minute Wu-Tang Clan Freestyle From 1997

Tim Westwood dug deep into his archives and pulled out a vintage freestyle session from members of the Wu-Tang Clan. The year was 1997 and Wu-Tang was riding high off the success of their sophomore magnum opus Wu-Tang Forever. Ol Dirty Bastard, The RZA, Method Man, Masta Killa and U-God stopped by Westwood’s show to shoot some poisonous arts and “bust shots at Big Ben like they got time to kill…”
[HipHopWired]

• New Film By Ethiopian Nurse Combats Mental Health Stigmas In Africa [Huffington Post]
• FCC Stops Debt Collectors from Robo-Calling Cell Phones [Baller Alert]
• Gucci Mane Remixes Major Lazer’s ‘Cold Water’ Ft. Justin Bieber & MØ [iHeart Radio]
• Thomas Gibson — Fired From ‘Criminal Minds’ [TMZ]

White People Don’t Understand Why Black Students Don’t Want To Live With Them

Some white students at a liberal arts college in Southern California don’t understand why minority students don’t want to live with them according to Washington Post:

In most respects, the roommate-wanted notice seemed routine. Three students at the Claremont colleges in Southern California were looking for a fourth this summer to join them in an off-campus house. They added a caveat in parentheses: “POC only,” they said, using a common abbreviation for people of color.

When a classmate challenged that condition, the Pitzer College student who posted the notice on Facebook pushed back. “It’s exclusive [because] I don’t want to live with any white folks,” wrote Karé Ureña, who is black.

The online comments touched off a debate this week over race at Pitzer and neighboring colleges, one that flared into national headlines after the Claremont Independent student magazine wrote about it.

To some, Ureña’s request was completely understandable following a racially charged year when many students of color had demanded more support from the administration. To others, it was simple racism to exclude potential roommates based on skin color.

Ureña, 20, a junior at Pitzer, and one of her roommates, Sajo Jefferson, 19, a sophomore at Pomona, defended their query in a statement to The Washington Post. Ureña describes herself as Afro-Caribbean and Jefferson identifies as a multiracial black person. Minority communities on campus, they said, constantly must deal with issues that arise when they are surrounded by classmates who don’t understand where they are coming from and have little interest in finding out.

“When and if you understand this context, it becomes clear that students of color seeking a living space that is all-POC is not only reasonable, but can be necessary,” they wrote to The Post. “We live in a world where the living circumstances of POC are grounded in racist social structures that we can not opt out of. These conditions threaten the minds, bodies and souls of people of color both within and without the realms of higher education. We are fighting to exist.”

Read the entire article HERE. Discuss.

For your viewing pleasure…

Cam’ron Cooks In Noisey’s “Noisey And Friends” Digital Variety Show

Noisey is kicking off their new digital variety show with the likes of Killa Cam.

Cam’ron is featured in the premiere episode whipping up his signature delicacies including his shrimp scampi that earned him the “scampi man” nickname.

Other guests on the show include SWMRS and Nashville’s own Diarrhea Planet.