Updated: Jun 25, 2019
The Road to Zero Wealth is not the only study highlighting impacts from deep racial inequalities; m January 2019, The Institute of Policy Studies https://ips-dc.org/ released another shocking report. On the day that would have been the 90th birthday of Dr. Martin Luther King, Jr. who envisioned a future with racial equality, IPS released its report; among findings, the report found that the poverty rate in 2018 is almost exactly the same from 1968; it did decline by almost half during the 1960s, but the failure to advance economic policies of the civil rights movement, led to the erosion and prevention of much further progress in reducing racial economic inequality.
Just like racial economic inequality is the foundation of racial inequality; the racial wealth divide is the foundation of racial economic inequality. Families with little or negative wealth live precariously on the edge having one minor unexpected expense; such as, a health care or car repair bill, turn into full-blown economic calamity.
Because it buffers families from the ups and downs of income changes and economic cycles and allows households to take advantage of socio-economic opportunities, wealth is a critical measure of financial security and a key determinant for other important non-financial outcomes. Wealth creates a platform of stability that enables positive education, health, and social outcomes for families that can afford to take advantage of opportunities and/or services that helps them accumulate family wealth.
Northeast Capital Fund II believes there is something fundamentally wrong with a credit market and financial system that leaves out more than half the population of the world, because they are considered not credit-worthy. By disrupting inefficient and unfair practices used by traditional capital market, we will decentralize the process using our blockchain platform designed to reduce costs and ensure error-free transactions; thereby, democratizing the financial market, making it more lender friendly.
Be a catalyst in the financial markets that sparks the needed transformation toward embracing a demographic traditionally shut out – low and moderate-income wage earners. NCF II has created a set of new financial products (combined with latest technologies in blockchain and cryptocurrency) will help level the playing field for low and moderate-income borrowers by giving them access to capital.
Monetize the A$$ETcoin to raise the capital needed to begin mortgage operations through our proprietary loan products. From that, build out all phases/dimensions of the ecosystem to both stabilize the token and lives of hundreds of thousands of families domestically and internationally.