In middle school, we had to read Steinbeck’s The Pearl, which is about how awful getting rich quick is. The SparkNotes version: A guy’s son gets stung by a scorpion, and he doesn’t have money to pay the doctor until he serendipitously finds a precious treasure inside an oyster. As a result, he becomes the victim of arson, has to stab a would-be robber, and ruins
The SparkNotes version: A guy’s son gets stung by a scorpion, and he doesn’t have money to pay the doctor until he serendipitously finds a precious treasure inside an oyster. As a result, he becomes the victim of arson, has to stab a would-be robber, and ruins relationship with his wife.
In modern times, we don’t open mollusks until an extremely allegorical gem pops out; we play the lottery instead. And like Steinbeck’s poor protagonist, a lot of people who have struck jackpots end up finding out that winning is sometimes the fastest way to lose for good.
Source: A Lottery Lawyer Explains What You Should Do if You Hit the Jackpot | VICE | United States
Wall Street is crooked.
This is not really a surprise to anyone. I lived on the street. And I worked on the street.
Wall Street starts at broadway and continues down to Water Street. Along the way, it gets crooked.Right around Broad Street it starts to curve. If you are standing at one end of Wall Street and try to look at the other end, you won’t see it.
It’s crooked. It jags.
It turns a little.
People walk back and forth daydreaming about getting rich. Others are crying because they couldn’t make it. And if you can’t make it there, as the song sort of goes, you can’t make it anywhere.Which is really true.
Because “there” is where the money is. And people get desperate around money. So desperate they will do anything to get it.
At one point I invested in a dozen hedge funds. Eleven of them ended up being caught doing illegal activity. I think a few people are in jail.
Every night I was scared because I started to see what was going on until eventually I shut the whole thing down.
Sounds good doesn’t it? Get ya popcorn and go here—>The Secrets of Billions — Life Learning — Medium
It is good!
by Paul Kiel via ProPublica’s Creative Commons’ Provisions
If you are black, you’re far more likely to see your electricity cut, more likely to be sued over a debt, and more likely to land in jail because of a parking ticket.
Continue reading “Why Small Debts Matter So Much To Black Lives”
A 2014 study released by the Center for Global Policy Solutions and the Network on Race and Ethnic Inequality at Duke University reports that African American households are beyond broke. The study shows that the combined assets of every African American household in the U.S. including wealthy athletes, media moguls, and businesspeople is not enough to lift the average net worth of African Americans beyond a little more than a nickel for every dollar held by whites.
Continue reading “Employment, Wealth, Earnings, and African Americans”
The inability to emanate a concrete unified front in the social and economic arenas has an historical legacy of stymying the growth of the black people and their communities. That is also why we as a people seem to own a plethora of poverty and schlock, meaningless material items.
We continue to be drawn across our lines to invest in businesses outside our communities by the lure of worthless lagniappe, accentuated by mainstream print and TV media.
The recent election proved the black vote , when unified, can be powerful indeed. The black dollar can be equally as powerful, if we transcend this “crab in the basket” stigma and support and invest in ourselves.
I do believe it is going to require an unremitting commitment of financial retraining and self-certitude for this to ever become truly proficient. It will also take awareness. Awareness in regards to the positive assets that can be derived from investing in oneself and community.
And the circle is far-reaching too.
The African American producers and sellers of the goods have to offer competitive and quality goods to lure and retain the commitment and investment of the people. The standard should be so high that the products are the exemplars the competition models itself after.
The Black dollar should have the same value as the White dollar. If you didn’t pull the race card at lilly white Macy’s don’t pull it Afrocentric Black owned institutions.
The ergonomics have long been submitted.
While we are beyond the apples and oranges of Dexter Avenue Church, we remain bogged down by the same narcissistic position that pulled even that humble attempt to prosper back into the basket.