The Wealth Gap Is Getting Worse.. And It’s Not Slowing Down

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0:41Learn how podcasting can help your business. Call 844-844-IHEART. On the Serving Pancakes podcast, conversations about volleyball go beyond the court. Today we have a little best friend compatibility test. Okay, how long have we been best friends? Since the day we met. As the League One volleyball season heads towards its final stretch, there's no better time to tune in. You'll hear unfiltered analysis, behind-the-scenes stories, and conversations with leaders making an impact across the sport. Whether you're following the final push of love season or just love the game, Serving Pancakes brings you closer to the action and the people shaping the future of volleyball.

1:11Open your free iHeartRadio app, search Serving Pancakes, and listen now. Presented by Capital One, founding partner of iHeart Women's Sports. Peace to the planet. Charlemagne the Godhead. Listen, we are back. The Black Effect Podcast Festival is back in Atlanta on April 25th at Pullman Yard. Yeah. And the full lineup is nuts. We got the Grits and Eggs podcast, Deontay Kyle and Big Ice Cup Cat. We got Club 520 with Jeff Teague and the gang. Don't call me white, girl. Mona will be there. Keep it positive, sweetie, with Crystal Renee. We got Reality with the King with Carlos King. And yes, Drink Champ will be in the building.

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2:09So let's talk about the wealth gap. You should. The top top 10 percent of Americans own 70 percent of the wealth. currently. Bottom 50 % own 2-3 % of the wealth. And we know that white households have a 74 % home ownership rate when black households have a 45 % home ownership rate. We know that the average white net worth is around$100 ,000 or so. Blacks is like $14 ,000. So there's a lot of disparity, let's say. There's a lot of disparity.

2:52Is it going to get worse? I'll go to you guys first because I have a gloomy take about this and I want to bring down the energy of the show, so I'll let Trim Shackle first. You hear it in my voice already. You want to take it? What? Is it going to get worse? Yeah. So do you think it's going to get worse? Yeah. It's going to get worse. It's going to get worse for everybody, but especially for the people at the bottom of the level because the value of the dollar is going down dramatically. And jobs, not only are they not paying more money, but they're losing. If you looked at the report that I believe Anthrop 1, Claude, it's one of these put out as far as the AI feels that it's going to take.

3:44and it just shows like it's just a small percentage of what they assume that the jobs will be taken over the next 20 years. Yeah. We haven't even scratched the surface yet, especially white collars. Once again, that's why everybody's talking about these trades. That's why the trade thing is like, look, all right, look, can't beat them, join them. There's going to be some trade things at InvestFest because, you know, hey, why not? I'm tired of going against that wave. So, hey, it's not a bad idea. You got to go with the trend. You can't. Everybody can't do the same thing. You can't. it's called you can't beat them, join them.

4:15I will say this. I did some research on this. Electricians is the hardest thing to do. It's also why they potentially make the most money. But electrician is kind of hard. You got to go to the program. You got to be an apprentice for four years. You got to pass several tests. Then next on that list is plumbers. Ian has kicked Ian out. Next on that list is plumbers, which is also pretty difficult. I did research And necessary. They're all necessary. But nothing is easy in this world. The easiest out of the trades to get in. Do you know? I mean, there's so many trades. HVAC. HVAC is the relatively easiest trade that you can actually get up and running.

5:09So that was interesting. and the HVAC is obviously needed and they do a variety of different things. They cover a wide range of house needs and commercial building needs as well. HVAC. Something we can attest to. For sure. Definitely need it, man. You need the HVAC. You need your AVAC, you need your electrician, and you need your plumber. Brighterly important. HVAC make the world go round. But yeah, construction, that's kind of a little difficult to get into as well, like on the highest level. So, all right. Long story short, yes, all signs are pointing to the wealth shifting even more. We're about to have the largest wealth transfer in history.

5:53When we talk about baby boomers passing down 401ks, passing down IRAs, passing down pension plans, passing down homes. We're about to see trillions of dollars being transferred over the next 20 years, the largest wealth transfer in American history. Sad part about it, and life insurance, I forgot to mention that. The sad part about it is that a lot of people in our ecosystem, their parents don't have any 401k. They don't own a home and they don't have life insurance. So the rich get richer, unfortunately, in life sometimes. The rich get richer. and sometimes you can get rich by accident. Literally, you can just get rich by accident.

6:43But if you're not fortunate enough to get rich by accident, you got to get rich on purpose. Big facts. Don't let that go over your head. Can I add something to this? Because I had a conversation last night with one of the wealthiest people that I've been around. and the conversation about AI came up and our interview came up with Sinead about life expectancy. And one of the things we were talking about was the idea of people living longer, but also the reason why they want to live longer, right? They want to accumulate more wealth. For sure. If the wealthiest people are living longer to accumulate more wealth, well, what happens to the people who are trying, right?

7:39Because they're staying and occupying those spaces. And I was like, damn, right? Like that means that there are always going to be a permanent employee class. Like that it grows because - By design. Right. It's not being passed down to your kids anymore. This ain't like, oh, they're going to botch this. The way we're going to look at generational wealth is going to be completely different. And then I was like, well, if they live longer, who can do it? And so we started the conversation of Eli Lilly, and I know some people are putting in the chat, and what GLPs are doing in terms of weight loss, and obviously that the health benefits of people not becoming at risk, what AI is going to do for disease, diabetes, sickle cell, cancer, things of those natures.

8:21and it dawned on me that this is, yes, it's a health issue, but who can afford it? Because the next thing we talked about were peptides, which is like the new wave. Like this is really expensive. Like this is like a, they're saying like it works faster for weight loss and it tax fat differently, but it's very expensive. And so the people who are doing that and the people who are trying to preserve and live longer, that comes at a cost. And so for the person who can't afford to pay their rent or the person who has student loan debt or the person who has credit card debt, can they afford to be in that category of people who are saying, hey, we're going to try to live longer?

8:59Whereas the people who have capital will decide, yes, we're living longer and we can afford to live longer. Well, everybody can afford to live longer. Well, if health care doesn't become affordable, then they won't. Well, the original healthcare is the best medicine that comes from the earth. This is true. Me personally, I just started the Soursop. I started my Soursop cleanse. This is true. Where did you get it from? Where did I get the Soursop? Yeah. Like what retailer? Yeah. Let me do the cleanse first. No, no, no, no. Nothing for it. I want to see. I just started it. It's a 14-day cleanse.

9:39Let me do the cleanse first. Yes. If I see positive results, I will give free promo. This is the thing. This was all these things are part of the conversation. I'm like, yes, you can. There's so many different things that people are doing right now to you know, biohack them, their bodies, naturally industrial product, all the things. And I'm like, again, it all comes down to exposure. it comes down to having the resources but it's also going to come down to the capital that you have in order to do those things and so if we don't have capital but once again I think that I don't agree with that though I feel like it's more expensive to eat bad than it is to eat good it's more expensive like you can steal health as well say that line again it's more expensive to eat bad than it is to eat good yes I'm with you if you really think about it Yeah.

10:36Like, you can be healthy. Being healthy is not just for rich people. No. No, I'm not saying that. No, no. That I'm not saying. I'm saying people eat healthy and still perish. Yes? Of course. And on top of that. What they're thinking is, like, I'm not trying to perish. Oh, yeah. I mean, that's biohacking and all that. This is what I'm saying. But what I'm saying is that we know that it's a direct correlation from the amount of money that you make from the life expectancy that you have. Black people have a lower That's where I'm going Black people have a lower wealth percentage but they also live 10 years lower on average Heart disease is the number one killer for black males So what are we consuming?

11:19Junk food Because it's expensive to have the products that are actually healthier Real quick, hold on Y 'all going to poppy steak Hold on I'm going to draw this point right down the middle. You're going to spend$1 ,000 a week on the Zaza. On the Zaza. I'm not listening. I'm not talking to all of you. Yes, that happens. That happens. But there are people who go, like, look at the grocery, bro. Like, there's a difference when you go to H Mart or whatever. When you go to Whole Foods. It's a huge difference. Can you afford to be in Whole Foods four times a month? that's tough but even post acquisition of Amazon because both of you are right and I'm going to come in the middle, pause pause

12:14I'm funny the healthier foods have been drained in pesticides where it's even harder to that's why I asked the SourSup question even here in Texas shout out to HB, HB, Sprouts Whole Foods, it's hard to find watermelon in store with seeds in it, you know the number one

12:39thing that most people consume once a year and don't know that it's filled with poison it's roses on Valentine's Day, if you've ever been to a rose manufacturer they smell amazing but when they handle the roses that have hazmat suits on, head to toe. Ask anyone that's ever worked at a rose farm or factory all the chemicals that are like, shout to everybody who get the Venus Etuflet, the forever flowers and all that shit. You have to be mindful of how they're sourced because all of those are not built the same. Like Venus is fine, but some of the other brands may not be right. So even if you want to eat healthy, the companies have been sued for putting cell phone towers and energy plants and now data centers and pesticides throughout.

13:27Like one company allegedly was so nefarious that if their seed landed on a farmer's property, they couldn't grow crop with their own seed. So it's not just that a person can't eat healthy. Sometimes it's we've been poisoned to death and we feel it when we go out the country. the food that we have here at a high-end restaurant isn't comparable to a low-end supermercado in Mexico it's pure bullshit in comparison and we all traveled and we've traveled the world together and we I mean we all can pretty much to say the same thing every time we eat outside the United States it's a very different our bodies feel different so on top of the food that we're consuming now we're you know we're getting sick, right?

14:13That's obvious. Statistics are all there. It shows it, right? So can you stay here in terms of healthcare? Healthcare is unaffordable now. Does that change? Does that change? So if you can't afford the healthcare, you can only consume the food that you can afford, and the wealthier are getting wealthier and deciding that we're staying here longer, yeah, I don't see it getting better. And the thing about the racial wealth gap that no one ever wants to talk about or say ai is the final infinity infinity stone in racism because now it separates the racial wealth gap away from a person or a system and it puts it against the machine yeah if you know that the creation and development of ai is going to lead to all the job erasure and ai is just code now there's no one you can sue because there isn't a legal process to sue an agent or an agentic farm for discrimination.

15:17And agentic discrimination has been happening at scale for the last year and a half. Now, is it affected other parts other than us? Of course. Now, I've been saying that the nation is feeling, even with the unrest and the protests, they're feeling what we've been saying the last hundred years, right? But the final infinity stone is to say, okay, if we can't take everything the way we want to take it, let the AI and the agents and the robotics be the face so they don't have anyone to point to to sue or go after. And that's the scary part about AI that you have to use it, but it's almost like using a weapon that's going to kill you at the end.

15:58On the Serving Pancakes podcast, conversations about volleyball go beyond the court. Today we have a little best friend compatibility test. Okay, how long have we been best friends? Since the day we met. As the League One volleyball season heads towards its final stretch, there's no better time to tune in. You'll hear unfiltered analysis, behind-the-scenes stories, and conversations with leaders making an impact across the sport. Whether you're following the final push of love season or just love the game, Serving Pancakes brings you closer to the action and the people shaping the future of volleyball.

16:24Open your free iHeartRadio app, search Serving Pancakes, and listen now. Presented by Capital One, founding partner of iHeart Women's Sports.

16:57Carlos King and yes, Drink Champ will be in the building. Plus, you know, we're going to have a lot of guests, so you need to join us. And we got the Black Effect Marketplace to pitch your podcast and everything you expect from the Black Effect Podcast Festival. Tickets are on sale right now. Go get yours at blackeffect.com slash podcast festival. Don't play yourself, OK? Pull up.

17:23I'm Daniel Alarcón, and this is my friend. He's much more famous than I am. I wouldn't go that far, but I'm John Green, co-host of the podcast The Away End with my old friend Daniel. On our podcast The Away End, we'll share with you the magic of international football, all leading up to the 2026 World Cup. Together, we'll find out why, of all the unimportant things, football, soccer is the most important. Listen to The Away End with Daniel Alarcon and John Green on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. Hello, gorgeous. It's Lala Kent, host of Untraditionally Lala.

17:58My days of filling up cups at Sur may be over, but I'm still loving life in the valley. Life on the other side of the hill is giving grown-up vibes, but over here on my podcast, Untraditionally Lala, I'm still that Lala you either love or love to hate. It's unruly. It's unafraid. It's Untraditionally Lala. Listen to Untraditionally Lala on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

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