Black People : Economic Recovery!...(for Who???)

Discussion in 'Black People Open Forum' started by Ankhur, Apr 7, 2010.

  1. Ankhur

    Ankhur Well-Known Member MEMBER

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    Published on Wednesday, April 7, 2010 by Black Agenda Report
    Black America: Sinking to a New 'Bottom'?
    by Glen Ford

    Corporate economists have lately grown fond of saying the economy is "turning the corner," but for African Americans, it's shaping up as a long and very scary ride downhill. Official labor statistics show Black unemployment rose to 16.5 percent in March, up from 15.8 percent the month before, while white joblessness remained steady at 8.8 percent. The figures are in line with the Washington-based Economic Policy Institute's prediction that Black unemployment will hit 17.2 percent by the third quarter of this year -- the highest level in a quarter century. Not only is the Great Recession nowhere near over for Black America, there are indications that the contorted economy is finding a new "bottom" for African Americans to inhabit.

    When the previous bottom fell out, Blacks fell farther and faster than whites, Asians and Latinos, and from an even more precarious economic position. As Dedrick Muhammad, of United for a Fair Economy reported in February 2009, "African Americans never emerged from the 2001 recession." Black households lost additional ground to whites and Latinos between 2000 and 2005 and were plummeting in real and relative terms even before the economy "officially" went off the cliff in December, 2007. When the crash came, the "Black" economy entered unknown territory, where previous patterns of relative Black-white employment prospects -- as bad as they were -- may no longer apply.

    full article;
    http://www.commondreams.org/view/2010/04/07-6
     
  2. Ankhur

    Ankhur Well-Known Member MEMBER

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    As the sytem of colonialism and despotism is collapsing, when do we use our collective buying power to start purchasing infrastructure on pennies on the dollar?

    To employ our children and future generations
    To have our own
    Gas
    Electric
    Telephone
    Cable
    Solar
    (and eventually) water utilities that we can have collectivly across the 50 states,
    and keep it affordable for thosewho are falling through the gaps
     
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