Tuesday, May 21, 2019

Missing Elements Southeast Queens Residents Should Consider In Supporting Reparations

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Here Are Some Important Issues Missing From The Reparations Debate

I want to address some missing issues in the reparations debate. Reparations has become a hot topic issue.

However, many against reparations cite they didn't own slaves. But is that a valid criticism?

A lot of economic injustice is happening to Blacks today like the destruction of Black affluent communities, less pay to Blacks in our society even with degrees, predatory loans wiping out a trillion dollars in wealth, factions of the government selling drugs in our community to finance the Contra War, mass incarceration, over pollution in Black areas like contaminated water in Flint Michigan, there's a lot of injustice being done to Blacks today in addition to what happened to our ancestors.

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We're talking about the inability of our ancestors to live a humane life and pass down multi-generational wealth. I agree no amount of money can compensate us for what our ancestors endured but I'm sure they'd like to see us given some economic compensation to develop our communities

reparations is a call for economic empowerment from a lot of Blacks from a range of ideological perspectives. It is much more visible now because of social media and Youtube. In the past people could just ignore it.

The dems are responding to the call for reparations because a large group of Blacks are demanding it and it has become a litmus test for their support. But the reps they are talking about giving is small only 100 billion dollars. $100 billion dollars would only help the Black community if it went into an economic development fund of some sought to build Black banks, businesses, and funding organizations. If not it would go right through our hands in about a couple of months.

Blacks can march, protest, and work on campaigns all they want but if we don't learn to invest and do business support of each other like Asians, Latinos, Jews, and Nigerians are doing it's a wrap. They're projecting the average Black family will have a zero net worth in about 15 years at the rate we are going.

Business support in our community isn't an option. If we can't at least stop supporting a system that ignores us with benign neglect or disrespects us then we'll always be on the lower rung of this society because we are essentially funding our own oppression.

Black businesses are diversifying rapidly. And there are other ethnic groups that have used collective economics to help buy themselves out of poverty. Some poorer than us.

Organizations like Accion and Grameen Bank started in poor countries as small community business loan organizations and now are now loaning out billions in business loans all over the world - even to Blacks. These are ethnic groups poorer than Blacks now lending to Blacks for business in both the US and Africa. In our community our leaders don't have the vision or determination to make those types of moves.

Whenever supporting our businesses is used as a way to build economic power we get some long winded academic dissertation on why it can't happen. However, in a capitalist system if you don't own businesses you're gonna be poor by and large - there's go getting around that.

We have Blacks now raising millions in crowd funding to buy real estate (Tulsa Real Estate and Buy Black), in food (We Buy Black and other organic and farmers market emerging companies), in technology and social media Blaggenuf, BlackSBI). Yeah they're small but that is the future of Black business and economic development.

This old paradigm of this voting for dems and to a less extent the GOP without any tangible economic benefits is just unacceptable going forward. That's why most Blacks don't vote they don't see any tangible benefit of doing so. The dems better get reps or some real economic programs in order or Blacks will explore other options.

That is why I say cutting checks to individuals is underwhelming. We need an economic development plan.

The how much will individuals get is moot IMHO. If we got only $100 billion for instance (very low but that is what one candidate is suggesting) we could/should put it in a stock market for our community to invest in our businesses or a nonprofit business loan/finance organization similar to what Latinos started like Accion or Grameen Bank which helped the Bangladesh economically.

These community banks/nonprofit loan organizations started out much smaller than even a million dollars as community organizations and now have grown to be billion dollar business loan organizations giving out loans all over the world. Imagine us starting similar business organizations with like $10 billion dollars coming out the gate. Reps could also be used to shore up HBCUs and independent schools and health facilities.

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