(John sure is fine, ain’t he?)
Our inability to manage Power and the lack of ability to design and manage organizations. Now I will deeply allow and argue that stems from the fact that we have less generational experience with both of those areas, pointedly to money and wealth building and management. We, Black people often talk about racism but we never investigate both the WHY and the ramifications of the Why Effect.
America, from external settlers is about 15 generations old. The influences of direct slavery and creating an illegality and criminality to educating anyone Black (or Latino or Asian—-let’s not forget others in the Struggle) means that we have not had 15 generations—-about 35 years per generation/overlapping to know, become accustomed to and therefore teach, Generational Wealth—-which is Power and Planning/Organization Design.
We have about 7 Generations of Experience with it.
But the Education embargo meant that while there were yes, millions of us that could’ve learned it—-it directly NOT being taught and more directly, the ability to learn—-Learning is a Directly taught skill—it took longer for us to learn, adapt, garner, build, teach, repeat, correct mistakes, etc..
The Wealth rate of Black America was 0.01% in the early 1900s, it is 0.01% in the 2000s though there are considerably more of us.
So mark to 1900–1920—-as we finally had the legal right to educate, to learn, to teach each other, pretty much everywhere and everyone.
But 1900 to 2021 now involves how we engage education.
Segregation aided education in that we were piled together so each one, teach one was almost automatic. And education was seen and understood and desirable and necessary to got out of the community into White communities for resources for survival and prosperity.
But a funny thing happened on the way through Civil Rights—-desegregation made it possible for us to be and go everywhere (ostensibly) so there were 3 Great Migrations from the South—-to the North, the Mid West and then to the far West coast. This means that we’re scattered from the layering effect of each one, teach one in segregation.
But we could argue that the negatives of segregation outweighed the negative effects of integration. We were in the game, but we were no longer a more unified team. Which is why we keep looking back at CRM wistfully—-we were closer to unification. But we were unified because so many men, particularly ex-GIs were one, former soldiers, therefore taught discipline and organizational power hierarchies and two, we we sandwich to a tighter social strata in terms of class. Poor, Working Class, micro Middle Class, Micro-micro-micro Upper, Rich, Wealthy Class.
After desegregation—-mobility allowed us to not just expand into all six Class categories, which weakened our unification in the fact that we were “all in the same boat” so we were forced to work together so that all would survive—-but the resources of the Middle, Upper Middle, Rich and Wealthy were no longer sandwiched into to “everyone”, it was spread out as we were spread out.
But you say okay—-those Middle to Wealthy folk could’ve taught the folk where they landed?
Yes and no.
One, they were of multiple generations. Two, they were integrated to other than groups/businesses which increased careers, job wages, business growth—-so it often wasn’t in our personal best interest to work for a Black company across town or the country—-because we made out better using integration to integrate.
But this had the de-unifying effect of creating a brain dram.
Now our best and brightest were sandwiched back into with their colleges degrees, and financial understanding and greater than minimum wage or menial paychecks—-back into their Black (Latino, Asian, etc. enclaves/neighborhoods.)
(As a side note, Asians prospered with segregation and seamlessly moved into integration, still profiting because after their initial wrangling with Jim Crow, racism and the Supreme Court about the definition of race by skin color—-they purposefully segregated AND instituted, created businesses that were Sian-dependent but received Work”/relationships from all other cultures—-primarily White—-laundry, food, service, manufacturing on a mass scale. This allowed them, with a much smaller population to plan and organize their migrations through America and still maintain intra-gration verses loss of ethnic identity/linkage in integration.)
Further Asian and Jewish wealth STAYS in Asian and Jewish communities—-which is why they have communities and Blacks and Latinos have neighborhoods.
The detriment of buying say Nikes or Louis Vuitton or Birkin bags or even cell phones is that say John, ins Black, works at a White company, buys a ell phone form T-Mobile. John, representing millions is a Black person, making a White company stronger with his menial to advanced level work (White company stock price goes up—-only 6–15% of Blacks regularly invest in stocks—-65% of Whites do—-so more Whites benefit from John's work than potentially Blacks. John then buys a cell phone form a White owned company—-pouring revenue capital into them (again the stock percentage by race effect) and then only a monthly basis he pays the White company, with his White created paycheck “Black money”.
The effect means that his Black money never circulates back into his neighborhood—-so it never becomes a community. A community has money circulating and recirculating back into it. That’s why there are Asian, Jewish, Indian, Arab, White communities. (<<<Financial sociological lesson right there.) Jewish and Asian are highest at $12 to 14 times before that $1 goes outside of their community. Blacks and Latinos barely crest $1 to $2s. Which then translates back to their community buying power.
I often illustrate to my students the power of buying power. During COVID last year, a revered Rabbi died and teh Hasidic community flooded their streets in mourning—-as is their religious custom. They refused NYPD orders to disperse—-they wailed and just it out for days. The NYPD/Mayor’s office tried to go in and disperse them. They threatened the NYPD and Mayor back—-that they had hospitals, doctors, money, etc. to handle COVID. They would brook no interference from any other ethnicity/culture/government institution to their choice to assemble, even if that meant mass infections.
Because they had recirculated community money and businesses and schools and hospitals—they’d BOUGHT politicians. So the community head calls in favors and gets the NYPD Precinct Chief to COME TO HIS HOUSE to apologize to him and the other community leaders for disrupting their mourning.
That’s POWER in action through economic empowerment, control, recirculation.
John's Super Black In This Example
Say we shake it up a bit—John works for a Black company—-he’s still taking his Black dollars and reinvesting, watthour any form of ownership, revenue or dividends into a White company.
You know why White America is doing better than Black America?
Because Black and Latino America go to White owned/controlled jobs, buy White company owned cell phones, pay monthly bills and then go see Black Panther—-full of Black actors owned by Disney. The take so far with merchandise (where a large chunk of the money is in entertainment profits) is about $700 in direct cash from just Black people.
BUT
Check out Black Panther, with the big exception of SOME scenes filmed at Tyler Perry’s Georgia studios—-MOST of the companies involved are White and Asian owned. Also the majority of the staff—-thousands besides the face front Black actors are not Black—White and Asian, again specifically in CGI/special effects.
So John works for a Black company—-they get money from the Black neighborhood, they service, he buys a White company controlled cell phone—-pays an average bill of $50- a month (that’s what mine is every coupe of months)—-every month for 30 years, upgrading—what is the insanity—every year when the iPhone 15.1a comes out—-let’s average that to $2000 a year for 30 years. $60,000 and then let’s aggregate interest to that. is:
The Results Are In In 30 years, you will PAID $185,253.93 with 7% interest with a variance of 1%.
Now let’s do some REAL funky math on that 185—-let’s invest it in stock, sayign that John invested it in stock, same numbers but then he flipped it over to a trust for his son, Johnny Jr.—-just that one account.: if he started when Johnny Jr. was born until he was 30, still putting in $150 a month—-The Results Are In In 30 years, you will have $1,578,296.6.
$1.5 million from cell phones.
Not being indoctrinated by our wealthiest Black compatriots, family, mentors, teachers, etc. has not taught us the greatest power in the universe—-compound interest.
Black people don’t know what money is. We know how to spend it, but we don't’ know what it is.
Okay, let’s get Prince on a guitar funky.
Let’s put that money to work. Johnny Jr and his wife both had parents who did this John Senior financial gift plan for 30 years from birth, because John Senior taught them how in a class he did for 50 parents every year in his neighborhood—-your “send off cash” for your kids.
So they get married and have $3 million in just cash assets.
What could they buy with that?
A house, that will appreciate in equity value. Maybe the business John’s father works for which will appreciate in value. They can both afford high end educations in say medicine or law or technology or business that they want to study and still have $2 million or so left over.
They have individual Power as a couple.
John and Keisha invest $1000 each to the principal for their children and turn over: The Results Are In In 30 years, you will have $25,103,824.00.
Two-Three generations
Now Bobby, who inherits a sweet $25 million can do things like invest in multiple businesses as well as grease the palms of some politicians so he build a mini-empire in a neighborhood, employee residents at good salaries, draw in 1x the capital he puts in—build a factory. Another 30 years, just on reinvest the interest on his principal The Results Are In 30 years, you will have $473,688,735.04
In less than 100 years a billion dollar empire is in the making and potentially with good health, they could all still be alive, old, but alive, to enjoy it. This is what White people—-those educated by each other to understand generational wealth are doing—-which is why there are 5 Black American billions and hundreds of White ones.
By rough population numbers—-
White billionaires are 10 in every 1 million White people.
Black billionaires are 1 in every 10 million Black people.
Design & Organization
Now if we examine the internalized systems of understanding money, finance, stocks, trust, law, etc. which means that John Senior and Junior and Bobby and Kesha can teach maybe 100 people in their lifetimes how to repeat the above——for the expense of a monthly cell phone bill, and reinvest back into their neighborhoods to turn them into communities.
They can also teach how to build and manage a business, how to be a contractor, a vendor, a manufacture, etc.. There is also capital for lending to start up an enterprise from within the family/neighborhood so that a firm could be wholly Black/Latino owned. Without knowing these structural designs we are taught to spend money and go to a job to get more money so that you can spend it.
A coworker, an older Black man said to me that he wanted $1 million dollars—-I asked for what—he yelled, to spend it! And that’s where our financial education stoops.
We’re to our numbers are not building anything. We are managing White people’s firms/concerns and getting a paycheck but not always or nearly enough stock/shares/partnerships.
Which is why slavery or direct racialized oppression was so taxing and costly—-not just from the Human Capital/lives lost then but also to the mindset and mentality deficits it’s psycho-engineered into a significant portion of Black and Latino people today. We are experiencing a White race effect but it’s not this direct generation of White people’s fault. They’re just balls bouncing along on a wave that’s momentum carries them forward (Yes, somewhere in here is the advice to marry White or Asian. lol)/
But more seriously to relationships—-the advice might be closer to design and organize whom you marry/have children with and have discussions about this generation, next generation and the one after that—-what are we, as a couple, Black or Latino or Asian, doing for the great-grandchildren in 2200? Today?
And then go create something, a business, royalties, a stock portfolio, a partnership, real estate, royalties—-to throw a stone a hundred years forward of value.
Slavery taught us NOT to see or feel responsible to the Future.
Slavery's taught White people to see even humans as engines and creators of the Future.
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