“Amazingly, Black folks in this country still don’t get it. After all we have been through and after everything we have accomplished, prior to and after integration, our relative collective economic position in America has changed very little. In some cases we have digressed in terms of ownership of land, from some 20 million acres of land (31,000 square miles) in 1910; and in our ownership of banks, of which 128 were founded between 1888 and 1934 and 64 Black owned banks existed in 1912. As for other necessities like supermarkets, manufacturing concerns, and distribution networks, we are not even on the economic radar screen.
In light of the latest financial news reports that predict yet another recession just around the corner, and the financial “cliff” from which we will soon fall, as reported on CNN’s, Your Money, one would think Black folks are busy getting our economic act together, our history of business ownership and mutual support notwithstanding.
Sad to say, we are still floundering, enamored by the trappings of the “good life” and living vicariously through reality television shows and the shallow personalities thereon. Instead of working on our own economy we seem to be more interested in the economies of others, like the Kardashians who make about 30 million per year, not counting Lamar Odom’s contribution. We just love to check in on those “wives” of wherever and listen to their vulgarity and watch their extravagance. We can’t seem to get enough of the gossip shows and things that will take us nowhere while making others quite wealthy.”
Dr. James Clingman