Racism has cost the US economy $16 trillion in the last 20 years

  • Centuries of discrimination have created a cavernous wealth gap between Black and white Americans. 
  • Today, Black Americans own an estimated one-tenth the wealth of white Americans — $17,150 for Black families compared to $171,000 for white families.
  • This gap is not only bad for Black people, it’s bad for the US economy, too.
  • Researchers estimate that the racial wealth gap has cost the US economy $16 trillion since 2000. If the gap closed today, the GDP would see a $5 trillion boost in the next five years.
  • Read more stories from Business Insider’s “Inside the racial wealth gap” series »

Since the start of slavery, racism has cost Black Americans an estimated $70 trillion. Today, thanks to centuries of discrimination, the racial wealth gap between Black and white Americans is cavernous.

In 2016, the Brookings Institution estimated that Black Americans own about one-tenth the wealth of white Americans — $17,150

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Premiums Cost 10 Times More)

Six months into the coronavirus pandemic, many Hollywood companies still can’t head back into production on film and TV projects because of one major roadblock: Insurers have made no moves to incorporate pandemic coverage into policies, leaving big studios to self-insure and smaller production companies to seek pricey alternatives — or gamble on shooting without any coverage at all. Productions that bought policies before March are largely safe, as multiple insiders tell TheWrap that most policies procured before the pandemic shutdown did not have COVID-19 or infectious disease exclusions, and cast insurance and civil authority policies cover expenses incurred due to the coronavirus. However, any policy written since March now has a “platter of exclusions” as insurers seek to mitigate potential losses, according to Brian Kingman, managing director at Gallagher Entertainment, who helps find coverage for Hollywood’s stars. Plus, no major insurance carriers will offer COVID-related coverage moving forward. “In

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Insiders sound off on Florida insurance cost hikes

As home insurance prices are poised to increase sharply, the South Florida Sun Sentinel asked leading insurance experts to provide their views of the disintegrating state of the market. Here’s what they had to say. Responses have been edited for length and clarity.

Locke Burt, president and CEO, Security First Insurance Co.

Insurance cost drivers are well known and have been reported before — bad weather, increased reinsurance costs, shady contractors, aggressive plaintiffs bar with a favorable legal environment, water losses, fraud. What’s different is the trends seem to be accelerating and the Legislature has not done anything meaningful to change the trajectory of increased costs which, under Florida law, must be passed on to consumers in the required annual rate filings.

The private sector is shrinking and raising rates as fast as they can because the losses are not sustainable and the providers of additional investment capital simply do

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How Much Will It Cost Me to Run an Air Conditioner?

If you’re planning to run an air conditioner at home this summer, you’re absolutely spoiled for choice. Compact and portable window and wall units offer an affordable entry-point cooling solution for smaller spaces, while ductless split systems balance economy with efficiency and central cooling is both the most effective and the most expensive of the lot. The costs to run whichever type of AC you choose will vary depending on your city electric rates, how often you run the unit and how your AC performs regarding energy efficiency.

One thing that’s invariable is that running an air conditioner will increase your power bill. Electric utility providers typically charge for power by the kilowatt hour or kWh. As of 2018 rates, Choose Energy reports that the average U.S. price per kWh is 13.2 cents.

It doesn’t take an HVAC expert to see that the costs range drastically depending on your setup,

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Personal Property Insurance – Cost Calculator

Category Estimated Cost

Sofas, chairs, tables, ottomans, beds, night stands, etc.

Toaster, blender, food processor, vacuum cleaner, and large appliances (if owned) including washer, dryer, refrigerator, range, window air conditioner, portable dishwasher, portable dehumidifier, etc.

Paintings, wall hangings, area rugs, lamps, bric-a-brac.

Everyday dishes, fine china, stainless flatware, pots, pans, knives, etc.

Silver or silver plated flatware or goldware.

Bed linens, quilts, duvets, bed spreads, shams, bath towels/wash cloths/hand towels, dish towels, table cloths, etc.

Clothes, shoes, handbags, belts, hats, gloves, etc.

Desktop computers, laptop computers, external hard drives, external CD/DVD drives, printers, etc.

Home entertainment systems, stereo receivers, speakers, amplifiers, TVs, DVD & BluRay players/recorders, CD players, VCRs, camcorders, MP3 players, portable devices, answering machines, miscellaneous audio/video equipment, etc.

CDs, DVDs, BluRay disks, audio or video tapes, books, flash drives, other media.

Cameras, lenses, tripods, meters, lighting equipment, developing equipment, etc.

Bicycle, skates, skis, sporting goods/athletic equipment, treadmill, stationary

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