Malcolm X once said that if someone keeps getting ahead of you, then perhaps, that person knows something you don’t.
Black people have a spending power of almost a trillion dollars, but how much of that is coming back to the community.
Dame Dash of the now defunct Roccafella records said that some Jewish businessmen once told him that they call Black people “liquid money”. http://keediescorner.com/2013/12/27/damon-dash-says-jewish-businessman-calls-black-people-liquid-money/
Now that’s something to think about. The comments weren’t off base when you think about the reality of it. It’s very true. That’s exactly what many Black people do. We hardly re-invest our money back into our own businesses and the harshness of that factor makes one wonder as to why poverty still permeates many of our communities.
Donald Sterling actually publicly confronted this attitude even more in his infamous interview in which he tried to criticize Magic Johnson by saying that many rich or famous Black people don’t help their own people. Of course, many knew he was being ignorant in his assumption of Magic’s indifference–he’s one of the most respected Black athletes because of his support and creation of many businesses in the Black community. But Donald Sterling still had a stereotype of Blacks in positions of power who do nothing for their people.
This past few weeks have been very introspective for me.
While watching PBS, I was watching a special about the new oil being found in Kenya. And guess who was there? White Europeans and a white Texan, whom they featured. As I watched the program, I just couldn’t help but wonder why in the hell aren’t any African American businessmen there? This is major wealth distribution and only white people are trying to profit? There was something wrong with that picture. During the segment with the Texas oil man, he made a statement that I made a mental note of: “I just want my kids to have more than I did. And I want to pass on something to them.” For all we criticize white people for, not even I can criticize someone who understand the importance of passing on family wealth.
Do whites understand posterity moreso than Black people?
If you look at statistics, that would be an easy, yes.
However, taking into effect, the reality of slavery, and the generations that passed in which Black people were denied their place in the wealth distribution of this world; it’s very clear that racism played a part in retarding the economic empowerment of Black people, but still, I digress…
A young Black lady that I know who’s attending Georgia Southern University, told me that her parents won’t help her financially. The mother can’t…and the father simply won’t. They just threw her out into the world without any type of foundation to stand on. She said that she has to pay her own way, but she tried to buffer the sad reality of financial abandonment with the statement: “But, it will only make me stronger.”
This is the paradigm for many young Black people. They have to continue to start over…every generation, simply because their parents didn’t understand the basics of economic empowerment.
Even the bible (Proverbs 13:22) states, “A good man leaveth an inheritance to his children’s children: and the wealth of the sinner is laid up for the just.”
So, if God gives wisdom for economic wealth distribution, why aren’t many Black people getting the message?