Category Archives: BUSINESS EMPOWERMENT BLOG

How You Can Make Serious Money When Markets Go Down

If you’re only buying stocks – or options, or any security – hoping they will increase in value, you could be missing out on a lot of profits.

Markets move up and down – you know this because on the down days, you feel it right in your wallet.

But it doesn’t have to be that way.

Yes, shorting, like most things in trading, can be both risky and complicated. But it doesn’t have to be. And contrary to what many novice traders think, it’s certainly not “off limits” to ordinary investors.

Today I’m going to show you an easy (and possibly very profitable) way to play the markets when you think they’re about to head south.

An Easy Way to Go Short

When I’m bearish and want to bet stocks are headed lower, I generally like buying inverse exchange-traded funds (ETFs) based on the major market indexes.

ProShares Short Dow 30 (NYSEArca:DOG) for the Dow Jones Industrial Average, ProShares Short S&P 500 (NYSEArca:SH) to short the S&P 500, and ProShares Short QQQ (NYSEArca:PSQ) to bet the Nasdaq is headed lower.

If I’m extremely bearish, and I believe stocks are going to fall hard today or tomorrow, I’ll sometimes buy a leveraged short inverse ETF like the ProShares UltraPro Short S&P 500 (NYSEArca:SPXU). The UltraPro Short S&P fund is a “3x leveraged” inverse ETF. That means if the S&P 500 goes down 1% today, SPXU would go up 3% today.

But this is important: Leveraged ETFs are only meant as short-term trading vehicles. That’s why I said “if I believe stocks are going to fall hard today or tomorrow.” Because of the way leveraged ETFs are priced, they’re “re-set” every day – they’re not good long-term holds.

In a perfect world, if your conviction is right and you buy a leveraged inverse ETF and stocks go down right away, and they keep going down for multiple days in succession, you’ll be a very happy camper.

I’m not greedy. If I have a straight run for a few days holding an inverse leveraged ETF, I’d take my profits as soon as I think the sell-off is over.

I wouldn’t wait another day, I’d ring the register and be happy. If I own an unleveraged inverse ETF like DOG, SH, or PSQ, I’d probably use a 5% to 10% stop to get out if the markets rallied. If you take small losses, you can get out and figure out where stocks are going and get back in if your timing was off but you think they’re going down again.

Now let’s look at one of my favorite plays: money…

Here’s the Trade for When Gold and Currencies Tank (or Skyrocket)

There are lots of leveraged gold ETFs. Here are some of my favorites. Just remember what I said about holding any leveraged ETF: they’re very short-term trading vehicles.

Another way to “leverage” gold on the upside (betting bullion is going higher) is to buy miners. Mining stocks move up a lot faster than gold itself in an up-trending gold market.

Currencies are a little bit different, but it’s not hard to trade their moves up or down. Don’t forget, you can’t just short one currency – all currencies are “priced” in terms of another currency, so they always trade as a “pair.”

If you think the euro is going down relative the U.S. dollar, you can actually sell short the CurrencyShares Euro ETF (NYSEArca: FXE). If you want a leveraged (2x) way to bet the euro is going down relative to the U.S. dollar, you can buy a popular inverse leveraged euro/dollar ETF, the ProShares UltraShort Euro (NYSEArca:EUO).

There’s another popular way to hedge and play downturns in the market, but it’s trickier than it looks. Still, done right it can lead to some big profits on the short side.

How to Buy and Play the iPath Hedges

I’ve got nothing against VelocityShares Daily 2x VIX Short-Term ETN (NYSEArca:TVIX), if you get into it and the move you expect, a dramatic drop in prices and a spike in volatility, happens right away.

But here’s that tricky part I mentioned.

It’s a leveraged ETF – so if you don’t get a sustained move down pretty soon after you buy it, and you sit with it a few weeks, or worse, a few months, it loses its value quickly. Bottom line, it’s a leveraged ETF and great if you get the timing right, get in, and get a sustained move in your direction.
I’m not a huge fan of the iPath S&P 500 VIX Short-Term Futures ETN (NYSEArca:VXX), either, because it’s based on VIX futures.

VXX is thought of as an ETF, but it isn’t. ETFs have their own supply and demand dynamics and their own bid-ask spread dynamics. But it’s based on two sets of futures that have their own “valuation” dynamics based on rolling first- and second-month futures contracts.

VXX is actually an exchange-traded note (ETN), not a fund. It’s actually a derivative, which adds up to a lot of moving parts and is hard to arbitrage and “value” properly.

But if you’re going to use VXX, I’d suggest you add a one-quarter dose of it to whatever other protection you have on. Just keep in mind, if markets settle down and stocks flatten out and go sideways, the VIX and VXX will drop a lot quicker than non-leveraged inverse ETFs you might have on for protection.

My favorite way to play a spike in volatility is to buy calls on the actual VIX.

When I’m playing options, I generally like to buy options three to six months out. I always prefer further out options because it gives me more time, but you have to weigh the time against the higher price or premium you have to pay for them.

That’s why I look three to six months out and incorporate how much volatility I expect over that three to six months. If I expect a spike in volatility sooner rather than later, I’d opt for the cheaper, near-term options. If I run out of time but I still think I’m right, I’ll roll into the next three months out options.

In a perfect world, if you knew the move you expected was going to happen in a couple of weeks and last a week or two, you wouldn’t waste money buying further out options and pay for time you wouldn’t need.

But… it’s not a perfect world and I’m very often right, but I can get stung because my options expire and I hesitate rolling out to the next few months and get sick when the move I expected all of a sudden happens and I’m not in the trade.

That’s the worst feeling in the world, but you won’t have to sweat it with this strategy.

Wall Street Insights & Indictments

WITH SHAH GILANI

Here’s Who Killed the American Middle Class – and Why

The proof is in the pudding.
I thought this article is quite interesting in explaining the declining of democracy in U.S.A; and the condition of the middle class who have been reduced to poverty by the very politicians who they elected for their well being.
So who were the Republican and Democratic politicians behind the wholesale transformation of America, and where are they now?
Well…..
Here’s Who Killed the American Middle Class – and Why
By SHAH GILANI, Capital Wave Strategist, Money Morning • @WallStreet_II • May 23, 2017
There’s a widening wealth gap in America. It took a generation, but the middle class in this country has been hollowed out. Most people agree on that. But they don’t really know how it happened or who’s really to blame – it’s been obscured with false narratives, covered with “fake news.”
The thing is, the truth is in front of us. We’re living it in real time. It’s just never discussed openly – for a reason.
The people who are behind this catastrophic American collapse have fooled folks into thinking this is all normal.
Well, it’s anything but that…
Who to Blame for the Disappearing Middle Class
Republicans aren’t to blame: Their old-school platform of a smaller federal government, fiscal conservatism, more power to the states, and belief that a lightly regulated path to working hard and standing on your own two feet is what made America the global bastion of entrepreneurship and helped create a middle class that is laudable and fair.
Democrats aren’t to blame: Their old-school platform of a larger, more interventionist federal government, spending on social programs, supporting and safeguarding workers, all kinds of civil rights, protections for the environment, and their belief that government should stand behind those not able to stand on their own two feet, or who have been trampled by runaway businesses, helped create a middle class that is equally laudable and fair.
The two parties, with their visions and flaws balanced by democracy, made America great… once.
What happened is greedy, neo-con, profiteering Republican crony capitalists hijacked their party, while greedy, limousine liberal, profiteering Democrat crony capitalists hijacked their party. Together, as a new class of elites joined the Masters of the Universe, they began manipulating state apparatuses and banking for fun and profit…
A lot of profit.
The crony capitalists’ principal enrichment tools are “financialization” and, as we’ll see a little later this week, its manservant, “globalization.”
Financialization is the retooling of the economy’s production and distribution assets, consisting of made-in-America goods and services, into credit-driven banking and financial services products.
At its core, financialization is the transfer of low-risk, low-profit debt into high-risk, high-profit products.
The net result of the mass commodification of debt-based financial instruments and leveraged debt (grossly under-collateralized by low-risk debt) is rampant speculation.
This heavy betting, however, isn’t undertaken just for the sake of pyramiding risks for speculative gains. These so-called “products” are now integral and necessary investment tools because traditional, safe investments don’t yield adequate returns in the world of financialization.
According to the U.S. Bureau of Economic Analysis (BEA), in 1980, financial services contributed 4.9% to the country’s GDP. At its peak in 2006, that contribution had almost doubled to 8.3%.
More to the point, in terms of profitability, James Kwak, law professor at the University of Connecticut, calculated in 1980 the financial industry’s profits as a share of total U.S. business profits was 7.5%. That share of all business profits in corporate America jumped to more than 41% by the mid-2000s.
U.S. GDP in 2016 was $18.56 trillion, according to the BEA. In full view of financial services’ share of GDP (which is rising again) and its share of corporate profits (also on the march to new highs), it’s impossible not to see the financialization of the U.S. economy.
Worse, it’s actually become the beating black heart of the economy. It’s happening that way by design…
How the Financialization Scam Became Settled Public Policy
The road to financialization began with the overturning of longstanding public and economic protections, starting with the Depository Institutions Deregulation and Monetary Control Act of 1980, a Trojan horse that let banks establish holding companies and gave the Fed more power over more banks.
That major deregulatory action was followed quickly by the Garn-St. Germain Depository Institutions Act of 1982, which leveled the playing field for banks and their holding companies experiencing competitive disintermediation and decreasing profitability.
Ultimately, a series of subsequent rules- and regulations-trimming by banks’ congressional cronies culminated in the Gramm-Leach-Bliley Act of 1999, whose main function was the total repeal of the Depression-era Glass-Steagall Act that had for decades separated insured, deposit-taking commercial banks from swashbuckling investment banks.
That’s how elitist Democrats and Republicans paved a super highway for the financialization of the American economy and their enrichment from the country’s transformation.
So who were the Republican and Democratic politicians behind the wholesale transformation of America, and where are they now?
You’d be shocked at how many of them you know as senators, House members, cabinet secretaries, principal regulators… Supposed stalwart guardians of American prosperity who’ve become filthy rich at the expense of the middle class, on whose backs and from whose labor and savings they’ve enriched themselves (and their reelection war chests). I’ve written thousands of pages in Insights and Indictments naming names and calling these sellouts what they really are: crony capitalist pigs.
The proof is in the pudding.
Actually, make that pooling.
Without financialization, we never would have had the subprime mortgage crisis and the market and financial system crashes.
I’ll show you how.
Home mortgages used to originate “locally,” with banks, thrifts, and credit unions that knew their communities, as well as the value of properties and creditworthiness of borrowers in those communities. Mortgage loans mostly stayed on the books of lending institutions until maturity or until properties were sold.
That was great for stability and fairness, and making sure things remain sustainable… but the trouble was, no one got filthy stinkin’ rich on it…
Financialization, with its cheap come-on capital, its dodgy pooling techniques, its structuring, its tranches, derivatives and synthetic derivatives of derivatives, turned a utility service into a speculative pyramid of leveraged loans that looked and acted more like a Ponzi scheme than the sophisticated, high-yielding, safe (a lot of them packaged with government approval and guarantees) financial instruments they were made out to be by rating agency co-conspirators.
We all know how that ended.
Thing is, it didn’t actually end there. How could it have? As horrific as the financial crisis was, as much wealth was vaporized, there was still lots more blood to drain from the middle and working classes – and their children.
A Bad Idea Gets Much, Much Worse
That bloodletting comes in the pooling of student loan debt. If anything, it’s even more sickening than the financialization of mortgage debt.
As if leveraging the living daylights out of the American dream of home ownership wasn’t enough, the financial vampires of the political class saw an opportunity in that other great American dream: higher education – the burning desire of people to better their lot and improve their wages and prospects at colleges and universities.
What happened to professors’, administrators’, state schools’, and private schools’ goals of helping Americans get a higher education for the fair wages they earned and the balanced budgets they hoped to achieve?
As horrific as the financial crisis was, as much wealth was vaporized, there was still lots more blood to drain from the middle and working classes – and their children.
They got greedy. They’re all in the big for-profit game now, thanks to financialization.
Hopeful students are suckered into cheap loans which are, of course, pooled, leveraged, sliced, diced, and sold to investors. The cash those investors fork over can be used to make more loans, to pyramid (or Ponzi, if you choose) students’ hopes and dreams that a higher education means a higher standard of living.
And if those loans are in arrears, in default, and don’t get paid back – hey – investors don’t have to worry.
The government, which is to say crony capitalist congressmen and women, have fixed that potentially profit-leaking hole.
You see, making student debtors “low risk” by having the state guarantee payment of interest and principal to investors – while extracting more payment from grossly indebted students (plenty of whom never graduate), no matter the cost or the poverty level of those beleaguered, unemployed, underemployed, and generally struggling indebted borrowers – means that more loans can be pushed like dope to the uninitiated who have no idea about the trap they’re being lured into.
And as for the neo-liberal educators and liberal arts universities who want more kids – customers – to get a better education, they’re making hundreds of thousands of dollars in salaries and tens of millions of profits every year.
That’s financialization at work.
It’s not at work alone. Later this week in my Insights & Indictments service, I’m going to show you how globalization is taking these crony capitalist schemes big time, as in, worldwide, trapping billions in a state of permanent poverty. Click here to get my update as soon as it’s released, and you’ll get all of my Insights & Indictments research, too – free.
Together, we’ll play the crony capitalists’ game while working to destroy it.
Follow Shah on Facebook and Twitter.

Google will soon become the most powerful entity on Earth.

The future’s most powerful entity

Google is one of the leaders at the moment when it comes to artificial intelligence applications and has turned the AI venture into the single largest collection of resources and brain power that has a focus purely on the development of artificial intelligence.

Currently, there are over 250 PhDs and 400 research scientists working on DeepMind’s unlimited funding projects with two main goals in mind. The first is to try and solve intelligence and figure out how the human brain became capable of taking over the planet. The second is to use that intelligence to do everything else. And you may laugh, but this is not some crazy farfetched idea either. These goals are for real, and the company is more than happy to talk freely with anyone about it.

To get an even deeper understanding of what their plans involve why not check out a recent presentation given by Demis Hassabis, founder of DeepMind, who will talk you through their ideas.

Swearing in new Woman Deputy Secretary-General @UN

Ms. Amina J. Mohammed was Minister of Environment of the Federal Republic of Nigeria from November 2015 to December 2016, where she steered the country’s efforts on climate action, protecting the natural environment and conserving resources for sustainable development.
Prior to this, she served as Special Adviser to Secretary-General Ban Ki-moon on Post-2015 Development Planning, where she was instrumental in bringing about the 2030 Agenda for Sustainable Development, including the Sustainable Development Goals.

Before joining the UN, Ms. Mohammed worked for three successive administrations in Nigeria, serving as Special Advisor on the Millennium Development Goals, providing advice on issues including poverty, public sector reform and sustainable development, and coordinating programs worth $1 billion annually for MDG-related interventions.

Growth potential for urbanization – Tanzania Economy

VIWIDA-USA improves and enriches the life experiences of Women and Youth across the globe.

Developing Tanzania to meet the growing population.

Tanzania economy has developed since 2015 due to an economic outlook that’s very diversify, but Tanzania need to find a winning sector that will enable them to compete in an international scale.

Hurry! Time is running out to take these exclusive courses!

Can you believe the #YALILearns Challenge officially ends next week? It is amazing how quickly the time has gone! While you have until October 1 to earn your special #YALILearns badge by submitting your event report, the new Learn to Lead courses will no longer be available after next week. Here are the courses you could miss out on if you don’t take action now:

#YALIGoesGreen
The YALI Network Learn to Lead #YALIGoesGreen courses not only provide a basic understanding of climate change, but also teach you how to put your green plan into action!

Going Green for Social Entrepreneurs
Going Green for Business Entrepreneurs
#Africa4Her

Many girls can’t fulfill their dreams of receiving an education or starting their own business, just because of their gender. Our Learn to Lead #Africa4Her courses will help you learn ways to address this issue in your community.

Skill Building for Girls Advocacy
Empowering Women Entrepreneurs
#YALIVotes

The #YALIVotes courses are a great way to learn communication, networking, and team management skills that you can use to lead your community. After you take these two courses, you will be able to organize your own grassroots advocacy campaign and connect with public officials in your community.

Engaging with Public Officials for Positive Change
Organizing Grassroots Advocacy Campaigns

So, if you haven’t taken a Learn to Lead course yet, don’t delay–these Learn to Lead courses will be gone before you know it!

Don’t miss! Clinical dialogues around race, gender, and embodied psychotherapy Sept 30, 2016

EARLY BIRD ENDS JULY 31ST! 
 
WANT TO COME WITH SOME COLLEAGUES? BECOME A HOST!
SEE DETAILS BELOW



The Gestalt Therapy Institute of Philadelphia’s three-year, experiential program is one
weekend per month from September through early May, easily done while working.
    • Build strong clinical community
    • Take your skills to a more creative, risk taking, and deeper level,
    • Integrate yourself with your clinical work and your politics,
    • Learn so much about yourself in the process!

    

Host Committee

Want to get more involved? Be a part of the Host Committee! Purchase five or more tickets to receive a discount, connect with the Therapy Center network, and join us as a committee member at the event.

*  5+ tickets, use HOST5 for a 10% discount at purchase
*  10+ tickets, use HOST10 for a 15% discount at purchase

   

3 Continuing Education Credits
(for psychologists, social workers, and other mental health professionals)

SEMINAR DESCRIPTION

Therapy Center of Philadelphia (TCP) is in its fourth year of hosting a seminar for clinicians and community to come together and engage in a clinically scholarly dialogue around social justice issues and implications for therapy. Past seminars have explored the implications of feminist therapy in today’s world, implications of social location, privilege, and marginalization in the therapy relationship, as well as clinical issues for women/trans women experiencing homelessness or the aftermath of war. Our keynotes have included Dr. Nancy McWilliams, Dr. Beverly Greene, and Dr. Maureen Walker.
Building on these themes and in response to our current national climate, this year TCP offers a clinical conversation around how different bodily experiences present in the therapy space. We want to propose that attending to the body in different clinical ways can build healing and transformation. We want to examine how the interweaving of political and cultural forces impact one’s body and how we address this therapeutically. Specifically we want to examine how our bodies become targets of marginalization that create strategies of disconnection – from the self and from each other.
Using our own social locations as well as our own embodied experiences, speakers will explore the varying ways the clinical relationship can support a client to move beyond the oppressive stance of physical disposability (how certain bodies/people/communities are treated as more disposable and experience more violence) to an experience of agency, accountability, collectivity, and presence. Building on our own agency’s journey in the last few years, we will focus on how we become disconnected from ourselves and others because of racism, sexism, and trans-phobia. The panel will discuss how we as therapists can use exploration of body experience as an important way into the clinical work, particularly as it relates to internalized oppression, shame, and lack of safety.
LEARNING OBJECTIVES
*  Identify how our bodies can become targets of marginalization that creates strategies of disconnection – from the self and from each other.
*  Learn how to recognize and make conscious the different ways that experiences of oppression and privilege become manifest in the body.
*  Apply theories of embodied and gestalt psychotherapies as important ways into the clinical healing process, particularly as it relates to internalized oppression, shame, and lack of safety.

*  Discuss how we as therapists can use our own social locations as well as our own embodied experiences to support a client to create an experience of agency, accountability, collectivity, and presence.
SCHEDULE
8:30-9:00 am Registration, Networking, and Hot Breakfast
9:00 am -12 pm Clinical Program
12:00-12:30 pm Closing and Evaluations
CONTINUING EDUCATION
This program is co-sponsored by the Philadelphia Society of Psychoanalytic Psychology (PSPP). PSPP is the local Chapter of Division 39 (Psychoanalysis) of the American Psychological Association. This program is intended for mental health professionals of all experience levels and all theoretical orientations. It is not limited to individuals practicing in a psychoanalytic mode.
Responsibility for Content:
Division 39 is approved by the American Psychological Association to sponsor continuing education for psychologists. Division 39 maintains responsibility for this program and its content.
Psychologists:
This program, when attended in its entirety, is offered for 3 continuing education credits. Participants must attend 100% of the program. Upon completion of a conference evaluation form, a certificate will be issued. This serves as documentation of attendance for all participants.
Social Workers and Other Mental Health Professionals:
Social Workers, Marriage and Family Therapists, and Professional Counselors in Pennsylvania can receive 3 CEs from CE providers approved by the APA. Since Division 39 is approved by the APA to sponsor continuing education, these professionals will be able to fulfill their continuing education requirements by attending PSPP/Division 39 approved programs.
Educators:
Act 48 credits are available to participants who hold an educational certificate in Pennsylvania. If you need Act 48 credits, please be sure to bring your PPID number to the event. Act 48 credits are processed by PSPP, and you will receive a letter in the mail documenting that you have earned 3 Act 48 credits a few weeks after the conference.
Participant’s Accessibility and Non-discrimination, and Ethics:
TCP, PSPP, and Division 39 are committed to accessibility and non-discrimination in continuing education activities and strive to conduct all activities in strict conformity with the American Psychological Association’s Ethical Principles for Psychologists. Participants are asked to be aware of the need for privacy and confidentiality throughout the program. If program content becomes stressful, participants are encouraged to process these feelings during discussion periods. Participants with special needs will be accommodated as possible.
If you believe that a violation of ethics has occurred during this presentation, or if you have concerns about such issues as handicapped accessibility, distress with regard to program content or other complaints, please contact Courtney Slater, Ph.D. at 267-225-1522 or e-mail courtney.l.slater@gmail.com.
There is no commercial support for this program nor are there any relationships between the CE sponsor, presenting organization, presenter, program content, research, grants or other funding that could reasonably be construed as conflict of interest. During the program, the presenter will discuss the validity/utility of the content/approach as well as the limitations of the approach and most common risk factors, if any.

ANNOUNCEMENT
HIRING A CLINICAL SUPERVISOR – SOCIAL WORKER
TCP is hiring a new Clinical Supervisor to join its supervisory team.  The team, led by the Clinical Director, provides clinical oversight and supervision to all clinicians, including senior level therapists, associates obtaining hours for clinical licensure, and students. In line with its mission, the team also plays a strong role with the Executive Director and Board to guide program and policy directions for the agency.
This is an exciting opportunity for an experienced clinician with special interest and experience in clinical work, gender, and social justice issues. The Center is growing, and as we expand the supervisory team, our focus is on giving clinical staff opportunities for varied clinical expertise and style. Our clinicians come from diverse backgrounds and offer expertise in psychodynamic, psychoanalytic, gestalt therapy, and contextual family therapy approaches; CBT,  and mindfulness. TCP has specific programs focusing on trauma work utilizing EMDR, trauma – sensitive yoga, music therapy for transgender and gender non-conforming individuals, and a program for LGBT prospective parents.  TCP is fully trans-affirming and inclusive.
This is an independent contractor position.  The average hours are 10-15 a month. Opportunities to carry a small case load of clients can be considered too.

Black Power Without Green Power Is No Power

Last week was the 95th memorial anniversary of white folks’ bloodthirsty murder of 300 Black men, women, and children and also white folks’ wholesale destruction of 1,000 Black-owned businesses and homes on “Black Wall Street” in the Greenwood community of Tulsa, OK from May 31-June 1, 1921. Although I could justifiably rail against this destructive white devilment, I’ll instead praise this instructive Black economic independence.
Blackwallst1

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When Blacks today moan and groan and whine and complain and sue because whites won’t hire or promote us, I simply shake my head in disgust. And then I wonder why we expect anything good from the very same people who yesterday kidnapped us, sold us, bought us, enslaved us, raped us, lynched us and who today use their police departments to murder us, their judges to treat us like Dred Scott, and their prison officials/politicians/corporations to impose their new Jim Crow.

Blackwallst5White corporations and employers, generally speaking, don’t like us and don’t want us. They never did and never will. That’s why there are only five Black CEOs in the Fortune 500 and only two in the elite Dow 30. We must “do for self” like our “Black Wall Street” ancestors did nearly 100 years ago. And we can, as proven by the fact that Black-owned businesses currently show a growth rate three times the national (i.e., white) average. If our ancestors could succeed back then- and they did- we damn sure can now.

That 1921 rampage was born out of a 1916 Tulsa ordinance that banned Blacks from living on any block on which whites constituted at least 75 percent of the residents. So did the Blacks moan, groan, whine, complain, or sue? Hell no! They “did for self” by unifying economically and culturally. As a result, they created a community consisting of a multitude of separate Black-owned, Black-operated, and Black-patronized businesses- including (but not limited to) law firms, hospitals, newspapers, hotels, schools, restaurants, construction companies, real estate offices, and 24 supermarkets! As so insightfully stated by professor, author, and attorney Dr. Hannibal B. Johnson, “Legal segregation (in Tulsa and throughout the nation) limited the commercial options of African-Americans. This economic detour- this diversion of dollars- spurred business development and economic prosperity in the Black community. A talented cadre of African-American businesspersons and entrepreneurs rose up. Blackwallst4Blackwallst3

 

 

 

 

The problem is not that we don’t have the money to “do for self.” We got money! We have more than 35,000 Black millionaires in this country and a whopping 1,826 billionaires in the world. We also have earnings of $1.3 trillion annually in America. The problem is that, unlike other ethnic groups, we spend it with outsiders as soon as we get it. For example, a dollar remains in the Asian community for 28 consecutive days but only six hours in the Black community. Outrageous and embarrassing!

Blackwallst8

To paraphrase the classic line from the 1948 film The Treasure of the Sierra Madre and the 1974 film Blazing Saddles, “Jobs? We don’t need your stinkin’ jobs!” We can do our own thing. But, in regard to government employment, don’t get it twisted. Although we don’t need white folks’ municipal, state, or federal jobs, those jobs are owed to us because we built this country and because we continue to be denied high salary and top-level positions despite our unimpeachable qualifications. For example, in Mayor Jim Kenney’s first couple of weeks in office, he appointed about 80 top officials, 66 percent of whom are white in a city that’s only 36 percent white. However, despite the fact that African-Americans make up 44 percent of Philly’s population, only 22 percent of his appointees are African-Americans. Former Mayor Michael Nutter was nearly as racially insensitive at best or racially discriminatory at worst with 64 percent of city employees who received salaries in excess of $70,000 being- you guessed it- white.


As reported this week by Eric Ture Muhammad in The Final Call, the preeminent S.B. Fuller & Joe L. Dudley Sr. Foundation held a “Mastermind Business Group Meeting” on May 26 at the Benton Convention Center in Winston-Salem, NC as a gathering dedicated to Black entrepreneurship. It brought together business leaders from all across the country and emphasized the critical importance of creating a “collaborative economic framework” for community wealth rather than focusing primarily on personal wealth.

A number of the event’s presenters, including networking mogul Dr. George Fraser, spoke about the Black community having foolishly adhered to an “economic welcome mat” policy that “allows anyone who isn’t Black easy access to Black dollars and consumers.” They pointed out that “anyone else can walk in, meet some community needs, wipe their feet on Black consumers like a doormat, and exit with tens of millions of dollars put in banks outside the community.”

Blackwallst9

We must economically “rise up” as Dr. Johnson mentioned. And we can do it by creating Black-owned businesses and/or by buying exclusively from the more than two million Black-owned businesses (or the many predominantly Black-employed businesses) at least once a week starting this week, then at least twice a week next week, then at least one week next month, and eventually at least six months every year.

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We can do it by following the lead of the 15 young Black businessmen from the Black Male Entrepreneurship Institute (BMEI), which partners with the U.S. Black Chambers, Inc. (USBC). BMEI did it last year when they sought out a Black financial institution and found Industrial Bank in Washington, DC where they made an initial deposit of $5,000. As stated by Ron Busby, CEO of USBC, “In order for there to be a strong Black America, we must have strong Black businesses. In order to have strong Black businesses, we must have strong Black banks.”

So let’s do the Black bank thing and the Black business thing- which means the Black power thing.

The words from David Walker’s Appeal, written in 1829, and the words of Christopher James Perry Sr., founder of the Tribune in 1884, are the inspiration for my “Freedman’s Journal” columns. In order to honor that pivotal nationalist abolitionist and that pioneering newspaper giant, as well as to inspire today’s Tribune readers, each column ends with Walker and Perry’s combined quote- along with my inserted voice- as follows: I ask all Blacks “to procure a copy of this… (weekly column) for it is designed… particularly for them” so they can “make progress… against (racist) injustice.”

 

Michael Coard, Esquire can be followed on Facebook, Twitter, and Instagram. His “Radio Courtroom” show can be heard on WURD900AM. And his “TV Courtroom” show can be seen on PhillyCAM/Verizon/Comcast.

 

Help Stop the killing of people with albinism in Malawi!

Take Action: Help Stop the killing of people with albinism in Malawi!

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Take Action© LAWILINK/Amnesty InternationalAttacks against people with albinism have sharply increased in Malawi over the last two years, with four people, including a baby, murdered this past April alone.Take action now and support efforts calling on the government of Malawi to protect people with albinism.

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Whitney Chilumpha was just under two years old when she was snatched while sleeping with her mother in their home. Pieces of her skull, some teeth and clothing were found days later on a nearby hill.

Jenifer Namusyo, a 30-year-old woman, was found dead. She had been stabbed in the back, abdomen, and elbow.

Seventeen-year-old Davis Fletcher Machinjiri was abducted by a group of men who trafficked him to Mozambique, where he was killed and his arms and legs chopped off.

Right now there are five more people who have been abducted in Malawi and are still missing—their lives are in immediate danger.

Groups in Malawi are fighting to end this practice—but they need help. Call on the government of Malawi to urgently search for the five who are currently missing, and take steps to protect the life and security of people with albinism.

Today is International Albinism Awareness Day, and Amnesty International just released a report that shows at least 69 crimes against people with albinism have been documented since November 2014.

Amnesty International and other organizations on the ground are calling on the government of Malawi to adopt measures protecting the rights to life and security of people with albinism by providing increased levels of visible policing in rural districts and taking action when attacks occur.

Tell the government of Malawi to uphold its responsibility to protect people with albinism.