"We play croquet / and go rollerblading / here's to homies on lock / for insider trading"
[1] In the past, it was White, as opposed to say, coloured, Anglo-Saxon, as opposed to say, irish, and Protestant, as opposed to say, catholic. One might not, seeing pictures such as:
(as to White: https://en.wikipedia.org/wiki/Military_history_of_African_Am... says the US military already started integrating in 1948. Due to their long experience, in 2020 they may serve as an example for the elected politicians of ways to run a colour-blind meritocracy.)
The term is in fact, commonly, but not always used in a pejorative manner. From Wikipedia:
"In the 21st century, WASP is often applied as a derogatory label to those with social privilege who are perceived to be snobbish and exclusive, such as being members of restrictive private social clubs.[63] A number of popular jokes ridicule those thought to fit the stereotype.[84]"
