The Black Political Review

Archive for the ‘Activism’ Category

Deficit Destruction


Born to Lose

The Economic Fun Fair

Investors vis-a-vis Savers

by Cireal Americanus

I am as mad as hell and I am not going to take it any more.” This is a famous line from the 1974 movie “The Network”, which chronicles the life of a washed up News Reporter who announces he will kill himself on live TV.  Although the announcement is more than a bit extreme, for those who are diligent Savers, the sentiment of the statement is something we all can share.

For those who have been watching, you know the Consumer Price Index (CPI) has risen about 1.4% in the last 12 months.  Given this figure you don’t have to be a mathematical genius to determine if inflation is approximately 2%, your savings are being slowly eaten away.  This is counter to our Communities focus and “hand-me-down” financial advice of Save, Save, Save.

For the astute, there are three strategies you can use to subvert this tragic effect.

  • First, we should save as much as possible Tax-Free.  This would mean maxing out IRA contributions, education funds, and any other investments that shield as much of your holdings from the taxman’s bite as possible.  Caveat – be sure to get a clear understanding of the potential tax implications should you decide/need to draw on these accounts.

  • Second, we can put our money outside Bernanke’s reach – in foreign markets. The European Central Bank (ECB) at least mildly cares about savers, and has pursued a more careful policy than the Fed.  Within the EU, Germany is recovering nicely, partly because it had very little fiscal stimulus, and has almost no inflation.  Outside the EU, Japan and Korea are both recovering nicely, and are worth a look.
  • Finally, we savers can engage in the ultimate Bernanke protest, and buy gold, silver or shares of mining companies.  Once the Fed reverses its policy, these will be rotten investments.  But it’s pretty clear that the Fed is not going to give savers an even deal any time soon.  In that case, if the Fed doesn’t reward us, gold and silver will.  The dollar will decline, and gold and silver prices will continue to rise, until eventually the Fed is forced to act.

Knowledge, Diversification  and Action are the key.  As there is a change in times, so should there be a change in our mind-sets and strategies.   I realize that these actions will not necessarily make one financially free but you will not be financially free unless we take an action.  The simple trick is keep much more than you spend.

The ABC’s of the Buyout Tax Loopholes

With the narrative of Larry the Loophole, we are given a basic overview of the tax loopholes that were put in place during the Bush Administration and the impact of these loopholes on the average American household.  These are the same loopholes that have allowed the burden of infrastructure maintenance and upkeep , i.e. power generation and distribution, highways and bridges, state facilities and parks, etc, to fall upon the taxes collected from the average American.  Ironically, the founding fathers never intended taxes to be collected on wages earned but on products we buy and land we owned.  Larry provides a fundamental understanding of the overall impact of the loophole systems that are in place as well as insight into some of the practices that created the current financial crisis.   Check-out for more links to provide help in understanding systems and practices that have been put in place that continue to expand the separation between the “Haves and the Have nots”.

By Any Means Necessary

Ironically, it is the Right-wing GOP that personifies this now famous phrase.  The Lobbiest, Medical Industry Leaders and various leaders of the GOP will use smoke and mirrors to distort the “Average American’s” point of view while not restricting any aspect of the revenue generated by Health Care or the Medical industry.

6 minutes and 52 seconds of disturbing truth

Juneteenth… I don’t think so!

What is really being celebrated?

What is really being celebrated?

Some of you are going to be mad at what I’m about to write, but that’s just how it is. It is directed at the day which has become more than a symbol of the legacy of the African in America (Black People). In most urban areas, June 19th aka Juneteenth, has taken on a celebratory date for Black People.

Wikipedia describes Juneteenth as follows:

Juneteenth, also known as Freedom Day or Emancipation Day, commemorates the announcement of the abolition of slavery in the U.S. State of Texas in 1865. Celebrated on June 19, the term is a portmanteau of June and nineteenth, and is recognized as a state holiday in 31 of the United States.

Why are we so happy? What are we happy about? To make my point, the U.S. Senate just passed an official resolution apologizing for slavery yesterday (read here)? This act by the Senate compells me to believe that this country feels something is still incomplete with the integration of its Black Americans in society. Why else are they making the point on the eve of Juneteenth? Could it be that they’ve done it because we have a Black President?

Regardless of the Senate’s reasons, I still want to know why Black People by the millions are so jovial on this day. This is a day for mourning, reflection, and condemnation of slavery. Yet, we’re going to see people partying, selling bootleg goods, eating bad food, and not understanding what Juneteenth really symbolizes.

Juneteenth was the end of forced, illegal slavery not the freedom of Black People. I will argue that unleashing millions of Black Men, Women, and Childeren with no resources (uneducated, no land, no legal standing, etc.) was not freedom. It was a path to destruction. If America was just, it would have assisted the fomer slaves with a serious integration plan in order for those people to thrive in America. It did just the opposite.

The time is for Black People to take our history more serious and use it to empower each other. Juneteenth is not a day to celebrate, it is a dark memory and horrible marker in the legacy of the African in America.