Searching for the self

Apparently, in the U.S., everybody that is not milky White, Asian or African American, is Latino (of course, lately, Indians have a big share of the cake, but let's stick with the basics).
What happens to the ones that are not native speakers of English nor Spanish, have round eyes and white skin?
I believe that we, humans, are all equals, and that it is perfectly reasonable to expect the world population to be like this in a near future. At least when it comes to human racial diversity.
I'm a dreamer, I know.

But anyway, the topic has been on my mind lately. It seems there ought to be a classification, so I decided to explore the chances of getting an answer.

These generalizations and assumptions never sounded right to me.
Let's take the concept of "Latinos" for example, shall we?
Aren't Latinos the ones who speak Spanish and have a Hispanic background? I don't know anymore.

It looks like Latinos are those who strictly come from Spanish speaking countries. If so, why aren't the Spanish from Spain called Latinos? 

Maybe the term Latinos (or Latin) refers to people whose mother-tongue derives from Latin. Then the French should be called Latinos, right? And the Italians too. And they are surely not. 

Maybe the so called Latinos are the people from South and Central America. Sounds perfect, but then again, what is the category in which Brazilians stand? Because, even though living in South America, Brazilians do not speak Spanish, remember?

VERY interesting post I found on Wikipedia today. It gave answers to all my questions.