Bank CEO blasts peers for not seeing inequality (per The Charlotte Observer)

With more interest and advocacy for the disenfranchised in our midst, an article by Austin Weinstein of The Charlotte Observer caught my this week called “Bank CEO blasts peers for not seeing inequality. A link to the article is below.

I have written often about the “haves and have-nots” in America. The disparity has been worsening for years and it now matters more to whom and where you were born than merit. Sadly, the declining middle class and growing poverty problem has been addressed by more trickle down economics and attacks on benefits to help people in need.

Per The Charlotte Observer:

“Kelly King, the CEO of Truist — America’s sixth largest bank — issued an exhortation to the economic elite of North Carolina and the country: We are blind to the difficult lives of many in the U.S. and must work to resolve the country’s educational and economic divides, or risk the consequences.

‘We see what happens when we have this giant divide between the haves and the have-nots,’ King said to bankers and executives gathered in Durham for an annual economic forecast hosted by the North Carolina Chamber and North Carolina Bankers Association. ‘If we have this scenario where people lose hope, they have no sense of opportunity, they’re dysfunctional. They get mad, they get on drugs, they get guns, they start shooting.’…

While there are many origins to America’s widespread educational and economic inequality, King pointed to the perceived failures of American public school system as one of the paramount reasons for the divides in the country. If people can’t read or do simple math, he said, they are effectively left out of much of the U.S. economy.

‘We are cheating our kids and our grandkids of a future,’ King said. ‘They will not have the same kind of life we have had,” he warned, if the current course of the country isn’t changed.'”

We must invest in our children and our communities. Asset Based Community Development means repurposing depleted assets or restoring them to original form. A neighborhood school is more than a place of seven hour education. It offers a community meeting place for after-school programs, neighborhood meetings, civic meetings, exercise classes, etc. Inviting schools, rewarded teachers, safety mind-sets, etc. will reinforce better education for our kids.

King’s admonition speaks to the crisis it is. The US disparity has widened at the same time our educational ranks in science and math have fallen. If we don’t invest in our kids, we really don’t have the standing to speak of American exceptionalism. It is hard to be a shining light on a hill if we fall from the top.

Read more here: https://www.charlotteobserver.com/news/business/banking/article239048138.html#storylink=cpy

Media – focus more on the problems needing solving and less on who wins

The main stream media is doing a better job on focusing on the issues, but they still have a bias toward conflict. Who wins and loses based on the airing of an issue or problem is covered way too much for my taste. The end result is problems and their many causes do not get addressed or are oversimplified, so they go unsolved.

The dilemma is we citizens lose. The focus must be on the issues rather than who benefits from whatever hits a news cycle. Substance matters more than image. Here are a few examples to digest.

We have a poverty problem in the US. It is not just a declining middle class. Too many are living beneath paycheck to paycheck or are one paycheck away from being in trouble. The United Nations just released a report that confirms the US has a poverty problem citing numerous examples and numbers. Instead of asking lawmakers what are we doing about it, the media focused on the Trump administration admonishing the UN for the report. The problem exists whether or not it makes Trump look bad, as it took decades to decline to this point. Addressing poverty is more important.

We have a significant and growing debt problem that has been made worse by the Tax law passed in December. The economy was already doing pretty good with a long growth period. Yet, rather than address our debt, we borrowed more from our future. This malfeasance must be highlighted. Yet, most of the focus is on the economy doing well and its impact on the midterm election. Note the economy would have done well without the tax change, but we have a day of reckoning coming that will require more revenue and less spending. What are we going to do about it now, especially with a good economy?

The Affordable Care Act has needed improvements and stabilization for some time. The American public favors this as do lawmakers from both parties. Yet, the media focuses too much on the political  impact of an ACA that could be doing better. Not only has the party in power not helped the ACA, they have sabotaged it making premiums go up even more. As I see it, the President and GOP own the ACA. Letting premiums go up hurts Americans. If the ACA fails, our poverty problem will get even worse and the economy will suffer.

Issues like immigration, climate change, water shortages, tariffs, exiting international agreements, eg, all need to be focused on. We need to drill down on what makes sense in a data driven and reasonable manner. Attempting to resolve issues based on optics of winning or losing won’t solve anything. And, that is what our President and legislators seem to be more interested in.

So, media please start asking our leaders what they plan on doing about these problems and asking them to explain why certain measures don’t seem to be helpful.  And, leaders stop worrying about keeping your job and start doing your job.