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Motley Fool Answers

Understanding the Black/White Wealth Gap in America

Motley Fool Answers

The Motley Fool

Taxes, Saving, Money, Investing, Planning, Retirement, Personalfinance, Finance, Education, Business

4.4823 Ratings

🗓️ 9 June 2020

⏱️ 39 minutes

🧾️ Download transcript

Summary

Dr. Trevon Logan, from the Department of Economics at The Ohio State University, joins us to talk about reasons behind the wealth gap between black and white families in America.

Transcript

Click on a timestamp to play from that location

0:00.0

This is Motley Fool Answers. I'm Alison Southwick and I'm joined as always by Robert Brokamp,

0:08.8

personal finance expert here at The Motley Fool. In this week's episode, we're joined by Ohio State

0:14.0

University Professor of Economics, Dr. Trevon Logan, and we're going to talk about the black,

0:19.1

white wealth gap in America. All that and more on

0:21.8

this week's episode of Molly Phil Answers. So, bro, what's up? Well, I'll tell you what's up,

0:28.4

that crazy old stock market. No, what? It's crazy. So, just to give you an example, on June 3rd,

0:36.4

Ryan Dietrich of LPL Financial tweeted that

0:38.7

the return of the S&P 500 for the 50 trading days since the market bottomed on March 23rd,

0:45.7

39.6 percent, the best 50-day rally of the S&P 500 since it was launched in 1957.

0:53.4

What? Seriously?

0:54.7

Yes.

0:57.5

Didn't it feel like you were in the best rally ever?

1:03.5

I mean, I just feel, I just can't help but feel that, yeah, this is just the best time to live in America today. It's just fantastic.

1:05.3

Yeah.

1:06.1

Anyway, so the S&B 500 is now within 5% of its all-time high on the NASDAQ on Friday and again today,

1:13.2

and we are taping, by the way, on Monday, June 8th, the NASDAQ reached another all-time high.

1:19.7

So the NASDAQ is at an all-time high at this point.

1:22.5

According to the bespoke investment group, there's only one stock in the entire S&P 500 that's down since March 23rd.

1:31.1

Oh, how amazing. And it's down less than 2%. It's Cody, the beauty care products company.

1:36.4

And there are only eight stocks that aren't up more than 10% since March 23rd. And this includes actually some big names.

1:43.1

Costco, Walmart, Kroger,

1:45.3

sort of like the consumer staples. They got left in the dust during the rally. So looking at the

...

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