Yes, that is racist, but the bigger factor is the lack of economic democracy in this country as a whole. Racism, sexism, indeed ALL of the negative "isms" are part of the systemic oppression of workers in this country and the world under capitalism. It's simple to see. If you have no control over the livelihood of someone you have a bias against, it's just a personal, negative trait or personal bias. It only becomes racism (or sexism, etc) when your personal bias has power over another through control of livelihood. As in capitalism. And although this is talking about a permanent black underclass, poor whites also have almost as few opportunities to move up as anybody else. Once again, because of capitalism.
And as to the "moral poverty" part, I don't see much morality in the ruling class, whether economic or political either. THEY are the ones who either precipitated or (in the case of the politicians of capitalism) enabled this latest crisis of capitalism that has almost destroyed the world's economy and the livelihood of millions (billions?) worldwide. It looks like they're going to get away with it too. Whatever crimes they perpetrated are coming up on the statute of limitations AND the nation's AG has already said that they're not only "too big to fail" but also "too big to jail". Although the moral failings might be equal in the rich and the poor and working class, the effects are definitely NOT equal. A moral failing in a poor person affects him and his immediate circle. A moral failing in a banker affects the world. Which is worse?
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