Let's Get Our Economy Straight

Black Americans have struggled in the United States to get fair living conditions. Though we have made strides toward a better life, we still are at the bottom when it comes to economic growth. Being only 13% of the population we only have 2.6% of the wealth of this nation.

According to the New York Times, for every $100 in white family wealth, black families hold just $5.04.

The Economic Policy Institute found that more than one in four black households have zero or negative net worth, compared to less than one in ten white families without wealth.

The Institute for Policy Studies’ recent report The Road to Zero Wealth: How the Racial Divide is Hollowing Out the America’s Middle Class (RZW) showed that between 1983 and 2013, the wealth of the median black household declined 75 percent (from $6,800 to $1,700).

Since then we have raised a little economically, but because we spend most of what we receive we are still left in the poor house. It’s time we stop thinking that others are going to help us get out of our situation, stop thinking that reparations though deserved are going to happen, and just take charge of our own outcome.

If we focus on our financial needs and start practicing what we preach as a community, we could stop the poverty within our neighborhoods, as well as gun violence, and everything else that plagues us. If you’re serious about making changes in the black community the first step is finding other like-minded individuals that you can work with and create a chain reaction of supporting each other. Then find black businesses that you can support in your community. Regroup, Refocus, and Redefine your destiny as a people.

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