If I make generalizations of an individual of a class based on characteristics of the class as a whole, that is racism. Example: "A young black male like you is much more likely to be a criminal."
But if you do the same thing with privledge, that is considered acceptable (and an indicator that you are an enlightened) Example: "A white male is more likely to go to a school that can afford up to date books" (from macimumloam.)
Both things are true. But if go around saying the first one all the time whenever I speak to a black male I'll be ostracized, but if I say the second, everyone will feel good about themselves about showing some white male his place.
(Posting from a throwaway account because of just this reason.)