Sunday, July 27, 2008

Our America aint black or white – it’s green

I’m hopeful everybody got they fix of CNN this past week, I’m sure they got some huge ratings. Unfortunately, I don’t get down with talking heads and think they may be doing more to divide America than bring us together. I mean the title alone, sure there may be two three or four Americas, but I don’t think a TV special does anything than tell folk what they already know and experience. Unless we live under rocks like Armadillidiidae vulgare, excuse me I mean pill bugs or Earth worms. Strange to me also was the timing, while Obama was on his worldwide tour. Folk brought out 200 stacks of folk out in Germany. Yep, it was a good look, but what does it do for me is my query?

Last I heard Germans don’t vote up in this camp. And I aint hating, I said the same thing about McCain when he was in Israel. Not to mention, I was gonna post on his lameness today but some more brain cells started to twitch – thus the current thought crime. As I have said in maybe too many post, our economy is fucked. As well, I have recanted a number of factors and postulates as to why we are experiencing what we are. Unlike the pundits or politicians, I have offered DOABLE solutions to this economic conumdrum.

But the way I see it, it will only get worse if we don’t take control and create our own reality. Now I’m no leader, but I was taught that leaders do two things: create their own reality and know how to say thank you. What have they created for me thus far is a porridge of unknown proportions. I se e the Dow Jones, and I see it loose and then make up some of the ground, but each time it does gain its losses, it looses another 200 to 300 points and need I remind you, that aint a good look. Dow Chemical profits dropped almost 30 percent over the past quarter, namely from what they say was due to spending 40 percent more on fuel and raw materials. Starwood Hotels, the folk that own Westin among others reported a 28% loss this past quarter and Kimberly Clark, the folk that make Kleenex and Huggies, reported a loss of 10% (do to rising energy cost as well). These are just the past quarter, I would add the last year but I don’t wanna cry in public.

The problem for me, outside of the political presidential hopefully not dealing with such specifics, is that it is only happening here in this country. I mean Daiwa Securities in Japan expects a profit of any where from 200 to 300 million over the next quarter. Credit Suisse can manage to mogul a billion dollar plus profit for the next quarter when overall net profits dropped. The Qatar Investment Authority has just increased its stake in Barclay PLC of London by more than 6 percent or $9 billion.

Now all American Based companies aint fucking up, I mean ask Occidental Petroleum, they profits increased 63 percent the past quarter, that’s right, they in oil. Now don’t get upset, so I aint watch Black in America or what ever it was called. All I am saying that the America I love and know has been foul to me and mine; that it is not black or white or mauve or polka-dot. If such was the case, we would have the black and white IRS and the Yellow and red Federal government. We have neither. The America that is ours (me my, son, and daughter) is green (dollar, dollar bill yawl), regardless of the denomination. That must and should unite us all, what color is yours jones?

70 comments:

Jay Midnyte said...

and 2 more banks failed...

Torrance Stephens - All-Mi-T said...

yep read that too, and dont mention wells fargo, or Xerox, let me stop

Jenna said...

It's a lot about social class...

Naeemah said...

Wow, deep post. But I agree with u..

Kai said...

Guess its time for me to go back to storing my money in the oven,lol or under the matress with the way these banks are shutting down,lolJust joking! I can onlyhope that min remains in business! these are some shaky times economically!

Keli said...

Yep America is green...it's always been about the almight dollar...from day one.

Diversify, diversify, diversify...

if you got it to loose.

Daysha Writes said...

Yes yes the almighty dollar...that mean green...

KELSO'S NUTS said...

Torrance: Agree completely on the "green" point of view. What I love about Panama is that we have two main parties the center-left PRD and the center-right PP and both are "green" parties. I have great connections in both and I give equally to both.

I'll tell you about one of the guys in the group of Spanish-Speaking money movers who expatriated to here because of a law that got snuck into an omnibus appropriations with the help of John McCain. We'll call him Frank Menendez. He's from NYC. He used to self-identify as both African-American and Domenican-American. He speaks perfect English and Spanish and has a degree in accounting from a Big East university. He's a gambler and an investor. He's playing it ultra-safe. He's even got a set of papers under a different name from a different South American country.

We have our "ethnic" identities still, but "American" is not part of that anymore.

Obviously, we don't sit around talking about who's Black and who's White. We speak Gamblers' Neoyorquino to each other and discuss mostly our occasional 2-man Blackjack army or all sorts of esoterica about finance or gambling or probability theory. Let's say this group is about 11 strong and growing and to a man we all have Obama in this. And are under no illusions. We sort of like the guy, but the alternative is such a nightmare for us that while Obama may or may not make things better for us, he actually may. McCain will only make things worse. We don't discuss "history" or "transformation" or anything like that. We discuss how our bread is buttered.

For both of us, the skin is irrelevant. The work is not. The support within the group is CRUCIAL. For us, Obama's reception is Germany is a little hopeful because it starts to close the deal. More importantly, it mirrors how the MERCOSUR nations feel about Obama.

Neither Germans nor Panamanians can vote in the US election and Americans may not care about Germany or Panama but Germany and Panama care about the US. If McCain gets there, America will see what two countries it doesn't care about can do to the "the greatest country on Earth."

Merkel or Torrijos can do far worse with monetary policy than Kruszschev could ever do with bombs when he pounded the UN table with his shoe.

America looks inward at its own peril. It scares nobody any more. It may have 10,000 MIRVs but it's not #1 anymore. It's maybe #7 at best. The US is so vulnerable to dollar shocks that #7could be optimistic and maybe it's #15 or #20. So, CNN specials notwithstanding, American can choose the candidate that is not worried about empire but rather problem-solving or she can choose the imperialist whose bellicosity could cause 1,000,000 9/11s in every city and town in the USA.

Obama has access to the scholarship which could let him get it right and then get lucky.

McCain only promises devastation. within the US as well as abroad.

At worst, Obama can disappoint us. At worst, McCain can bring about his "endtimes/rapure" destruction of all life, merely by getting pissy over German central bank policy.

Jackie Edwards said...

You definitely hit the nail on the head when you said America is "green". In the end, it is her greatest virtue and her biggest flaw.

freemanpress said...

I like Green! If people don't stop to understand that nothing moves in this country without money they will watch from the sidelines voting thinking that will change things.

We got to get in the game and be as cold as the wall in your bedroom at 3am. Its time to make chips and drop all the BS. There is no inequality, it's just you don't have any money to buy you some!

Linda said...

Totally offtopic here, but I just wanted to say..... I love that picture of you and your daughter with the big 'fro :)

You won't believe how much our little girls look alike! *lol* Wait, I said that before....

greetings from holland!

Curious said...

I have always believed that anyone who invests in the stock market should expect huge profits but be prepared to lose everything. After all don't brokers always tell you never to invest anything that you can't afford to lose. The sad thing for the stock market, I believe, is that there are many people who have their 401k's or their company pension plans invested in a market that they have no control over and have no say as to where their investments should go.

And in defense of Obama, as Jon Stewert sort of said, if you are a charasmatic speaker and you are in Berlin and you can't raise and excite a crowd into a whipped frenzy, then where can you do it?

uNWrItten* said...

haha..damn dude who are u voting for?..
ok im an obama girl so im sold on that grounds but i feel you on the Black in America thing..they must have shown that ish like 30 times this weekend..nothing we dont already know..big deal..money runs the world..and america isnt any different...we know that at least

AlooFar said...

This is insightful.
Thanks for this.

Darius T. Williams said...

Very prolific and great points.

You're right though about both Obama and McCain being overseas. And I thought I was the only one that thought that is timing was impeccable.

BuelahMan said...

My take is that it is a purposeful occurrence, meaning that we are at a point in America's history that our rulers have intentionally brought us to this point of doom and financial devastation.

When it comes to green, as much as different colored folk want to suggest, they don't give a fuck about race.

We are in a tailspin that is purposeful.

Why?

To bring about the North American Union and introduce a new currency.

Race has nothing to do with it (at least as a intended target). They use ANYTHING to reach their goals.

They don't even give a fuck about the dollar, because the dollar is worthless.

It is real money and power they must acquire and America has given to them and smiled as they ream our asses in the meantime.

The True Urban Queen aka Sharon said...

I didn't watch the special. I had no interest. Already know about being Black in America.
Obama visit, as I hear rumor, was to help or show how he could bring back all the countries to our side that Bush had alienated.
Banks failing got me on edge.
Not only do I keep money in one I work for one.

xoxo Jaimie said...

I worry about my money in the bank everyday. This economy is getting ridiculous

QH said...

Mauve or polka dot. LOL, I tend to agree. But race always equates into it somehow, someway.-QH

NoRegrets said...

So, you running for president? Or chief economic adviser to the president?

Torrance Stephens - All-Mi-T said...

Jenna
I would agree

Naeemah
How deep was it 5ft, 10 feet LOL

Kai
Yep like slappz said, get a cookie jar

Keli
We loose it on clothes, gasoline, movies and the like anyway, id rather loose it than give it away

Daysha Writes
For that mean, mean, mean…..mean Green….O’Jays

KELSO'S NUTS
U and your gambling fireds folk, I would love to meet them and drank and talk.
We can keep the identities, that’s cool, but don’t make them so unique that we loose sight of the human being in us all


But would my type of scholarship be acceptable to himk or any politician?

Jackie Edwards
Yep and glad to see u smiling again
freemanpress
Now aint that the truth

Linda
Thanks babe, how is the fam, what yawl cooking today

Curious
Yea, but risk im down with, even if it me buying a house. Great point

I aint attacking jones, just asking what does it do for me, if that is an attack, and saying that from my locution, he or mccain ai9nt dealt with this, then an attack it must be.

uNWrItten*
I always write my name in maam LOL

AlooFar
Thank u for the drive by hope I aint bore u too much

Darius T. Williams
That gives me hope man, we need to think to keep Obama (if he wins) and whoever in check

BuelahMan
So true about race and especially the new currency – that’s why I added any denomination.

The True Urban Queen aka Sharon
Im hoping he can show, but would like for both to put me at ease and show me they really thinking about this

xoxo Jaimie
We got a song called “shit is re-dic-u-lous” thanks for the drive by folk

QH
But we gotta move beyond that our folks had way more loot during segregation

NoRegrets
Naw folk, they wouldn’t listen to me and wouldn’t pass cia screening

YaBoy Po said...

bra where is ya shop?

Shy said...

Hell yeah this country is green! I don't know if this quote fits right here or not, but "the love of money is the root of all evil". Don't get me wrong, I like money...A LOT, but shit, it's what brings a lot of people, businesses, and countries down. And dare I say, the US ain't no different. The citizens of this country are suffering because of America's uber-capitalistic ways. The love of money is what creates the evil...power/money hungry folks running things here. Whatev. As long as my stack is still in the bank on the 19th, I'm straight.

12kyle said...

@ torrance
anutha good one bruh.

i don't make too much into obama going overseas. we need help over here but he's got bizness to handle. over here...we're just tryna keep our heads above water...like the theme song to good times.

Torrance Stephens - All-Mi-T said...

YaBoy Po
572 edgewood, suite 117, atlanta, 30312 4042285497
Braincell – a store for dogs

Shy
Not money, greed and avarice. They must be kept selfish, to survive is one thing, but to try to make it at any cost is another. Try to draw a distinction for I am not the latter

12kyle
Goodtimes song was funky and it aint never lied, and that was the 70s

RiPPa said...

Word fam!

Thats the common denominator isn't it. No matter what, we all gotta get that dough.

Sadly, in this country, there are few courses in financial apptitude. Hence folks getting caught up in the perpetual rat race that is capitalism.

Y'all better watch yo back...

white folks is takin their money out the bank. Hopefully we don't have to riot for food stamps like those brothas and sistas a few weeks ago in Milwaukee.

Waiting for Zufan! said...
This comment has been removed by the author.
Waiting for Zufan! said...

Yeah, I agree, the good old US is built on green. And greed. I have pretty big lack-of-money and wish-I-had-some-money issues myself. The husband has been in school for 15 years -- not kidding, still dreaming of getting that PhD -- so that's just the way it is.

But you know, $ isn't the cause of most problems, and wouldn't be the final solution. What we really need... Some love.

If ya got love, money is secondary. If you have money and no love, you're still miserable. What really sucks is if you have neither. And that's not black, white, mauve, or polka-dot either!

Thanks for the stop-over. Next week... One more race. THAT one I'm nervous about.

(sorry about the delete -- had to fix the typo)

Naeemah said...

Lol!:)

YAZMAR said...

Yea I will agree-abouve all else we are green,,,so the bottm line is economy is at a standstill and if you are the biggest racist in america, ultimately u will accept the ALL MIGHTY dollar coming from my black hands...

Aly Cat 121 said...

"Enough Negro Stuff" - Dr. Khalid Muhammed . . . that was my response to "Black in America."

Yeah I think most folk in denial about the economy in the U.S. I still got folks telling me the housing market is gonna pick up in 2009. *looking into camera*

IntrospectiveGoddess said...

I agree..it really is all about the Benjamins....I have no idea who I want to vote for probably Obama just by default....The Black In America thing wasnt as good as thought it would be becuase they just regurgiated information that most Black people already know...offered no solutions and threw in a couple of celebrity appearances....I dont even think the documentary was meant for Black People really.....

4GOTTEN1 said...

Green is definetly the main color we would like to see but i think most of us more of less see black or white. I think race is probably one of the most important thing to most people as soon as we acknowledge that the sooner we can get past it.

no_slappz said...

jay midnyte,

In the US there are about 9,000 Banks, 2,000 Savings & Loans, and 9,000 Credit Unions.

Three bank failures -- the two most recent failures in Nevada, and IndyMac a couple of weeks ago -- is minor.

IndyMac failed because Senator Chuck Schumer from NY started a run on the bank when he said it was on the verge of collapse.

Since he is on the Senate Banking Committee, he would know. But depositors with less than $100,000 at the bank were in no danger.

The danger arises when customers take their money out. Then failure is inevitable. ALL banks will fail if customers withdraw all their funds. It's that simple.

Anonymous said...

and you wonder why folks say you are deep Now I’m no leader, but I was taught that leaders do two things: create their own reality and know how to say thank you.

PrettyBlack said...

Yeah I didn't watch Black in Amerikka...shit what can a bunch of white folks tell me about me and my condition that I don't already know?

And, documentaries like that are usually muddled with the "sad state" of what it is to be Black in Amerikka with a couple of happy stories stuck deep in the middle...Please...

As for the tour of Europe, I think it was a very smart move, very strategic, Amerikka right now doesn't have the economic power or the allegiance from wealthy countries like Europe,because of Bush. No they cannot vote in our country but a lot of what they do effects our country economically.

OG, The Original Glamazon said...

Yes, that is the thing I always said about W, it’s not that he don’t care about black folks he only cares about green…folks! His presidency is solely about making paper and stacking cash at the cost of all Americans no matter what color they are.

The one thing I have noticed in my circles that if you don’t get too big for your racial britches and live a life with a grain of salt move up in socioeconomic class can help make you more free. The more I earn the more I want to retreat back to the simple points of life. I don’t make more and spend more keeping up with the Joneses. I make more, but I have started to save more instead and manage to increase my spending a bit.

I think if we all got down with how much having money, as in savings, allows you freedom maybe we would save more. Not being in debt, having savings, and money invested allows you to make decisions that are based on facts and not financial circumstances. You are right green is really the only color that matters.

-OG

no_slappz said...

rippa, you wrote:

"Sadly, in this country, there are few courses in financial apptitude."

If you believe what you wrote, you must live in another country.

There are an unlimited number of courses teaching financial understanding. Any topic you want -- Personal finances, introductions to all forms of investing, and on to more advanced topics such as economics, accounting, finance.

In short, if you want to know about money -- where it comes from and where it goes -- then study the subject of money.

You said:

"Hence folks getting caught up in the perpetual rat race that is capitalism."

As Benjamin Franklin said, Compound Interest is one of mankind's greatest inventions.

You said:

"white folks is takin their money out the bank."

False. If that were true, banks would collapse left and right. The banking system would fail. It's not happening, There's no need. Each depositor is insured up to $100,000 at each bank.

You said:

"Hopefully we don't have to riot for food stamps like those brothas and sistas a few weeks ago in Milwaukee."

We do not live in Zimbabwe.

Congress has passed a new law that will -- if needed -- bail out most of the borrowers who defaulted on their mortgages. Thus, those who decided to stop paying their mortgages were saved. If necessary, all taxpayers will cover most of the default problems experienced by those with mortgage problems. Sounds rather generous to me.

no_slappz said...

prettyblack, you wrote:

"Amerikka right now doesn't have the economic power or the allegiance from wealthy countries like Europe,because of Bush."

The US economy is bigger than aggregate economy of Europe.

Where would Germany sell its Mercedes, BMWs, Audis, Volkswagens, coffee-makers, optics and other stuff if not here?

Where would France sell its wine and other exports?

EVERY Country in the World wants to sell its stuff in the US. This reality is proof of how dearly other nations value the US.

You said:

"No they cannot vote in our country but a lot of what they do effects our country economically."

Yes, when oil-rich middle eastern islamic theocracies are slow to upgrade and improve their oil industries to meet Global demand, the US is affected. Every other nation in the world is affected too.

Of course we could expand our drilling here in the US and put lots of workers on oil-industry payrolls while collected those high oil prices for the benefit of Americans rather than foreign oil producers.

memphiz said...

I have a question do you think that you starting a buisness at this time with the (bad economy)was the best decision? and do you feel like the (bad econmy) is a threat to your business?

Pajnstl said...

My husband and I were talking this past weekend and he said "we might as well take all our money and hide it in the mattress, like the old folks". I laughed but he makes perfect sense. I mean Banks are CLOSING WTF?!

Saying all that to say I agree with you. It's always been about the dollar. While race blurs the line and is big thing for CNN to distract us with... the REAL issue is that the poor are poorER, the rich are feeling the crunch, and the only folks that are STILL doing as well as they were OR better, are those in oil.

Regina said...

As usual you tell it like it is! ...whether we want to hear it or not! Great post (yea, love your choice of graphics)!
America's biggest problem has ALWAYS been money, as far back as you can go, at the root of every problem money is involved...

no_slappz said...

regina, you wrote:

"America's biggest problem has ALWAYS been money, as far back as you can go, at the root of every problem money is involved..."

What is the biggest problem for people in Zimbabwe?

Jay Midnyte said...

no_slappz
"Sadly, in this country, there are few courses in financial apptitude."

If you believe what you wrote, you must live in another country.

Let's say rippa's talking about K-12 education... then he's right. There are very very few finance courses. You would think high schools would have a few, but it doesn't. I should know, I came out in 2007. They have "economics" and another basic business course that really focuses on straight simple business knowledge everybody knows. Those are the classes you take to improve your GPA because it's an easy A.
________
And we will see how minor those bank collapses and the effects are in the next year.

enigma4ever said...

wow..you can write,excellent post...and yeah CNN should have done a special on poverty in america...or death of the middle class...or return or the robber barons...but no they are toooo busy trying to divide us up like rotting pie...idiots....at this point alot of america is black and blue from trying to survive this damn criminal regime and the Corporatracy of it...

Sincere said...

I feel you.. you know you are my mentor when it comes to this (and other stuff too).. We live in a capitalist society and it all revolves around money. I don't really think they explored or exposed things that weren't already known. Some of it was new news but the majority was what we've been hearing for years upon years.. I think it was a way to get us talking to our white counterparts about what it's like to be black. I'm sure they got more out of it than we did.

BeKinky_Paula said...

I agree that the economy is more important than that CRAP SHOW they put on. Just because CNN put it on we can take things as truth and not understand how they framed certain topics, to create a specific reaction. *rolls eyes* However, race relations is an important topic and when done CORRECTLY, it could help a lot. Also, class is intertwined with race, so when you talk about the economy we also need to understand who is being allowed access to the money, or the most access. And who is systemically being shut out? I don't think the Hilton's or the Clark's kids are worrying about gas prices or tuition. All in all, I agree with the points you've raised but I think there's room to address both race and class because I don't think we have to choose what is most important. I think both intertwined makes this country what it is

BlaHHH said...

I think Im the only one that didnt watch CNN last week. But its just shit that I already know, I dont need a doc to let me know how some of my people are living. But I totally agree, its all about green in todays world. It has its pro's & con"s about it

plez... said...

"the concept of america" was founded by a small group of men who were rich, white, and landowners who wanted to stay rich and white, with a lot of LAND! the laws and the constitution were constructs by which this was accomplished.

don't think for a millisecond that they ever factored in Black, brown, red, or yellow men into the equation.

that's why i have an issue with supreme court justices (including clarence thomas) who consider themselves strict constitutionalists (rule on cases based on what they think the framers of the constitution intended when it was drafted)!

Seven said...

Green it is

Crian said...

Hey Torrance, I think Obama's journey did something for me as an American living overseas. It showed me how people here in Ireland want him to win, how they are tired of GOP policies.

For me and what I hope the majority of American people gleamed from this trip is that overseas, Obama is king and this will help in his presidency when he is dealing with the likes of China, India, Russia etc...

As for the economy, we are hurting here in Ireland too, though in all honesty, 40% of the companies here are American. The Irish economy is officially in recession and expected to get out of it in 2012. We are screwed too, there is lots to talk about from the pespective of the political candidates but I would imagine it is going to take at least one term to get the defecit under control.

fly tie said...

in regards to the CNN situation..thank you.

Lena said...

I didn't watch the CNN special either for several reasons, including what you had said. I would like to see them do a "Asian in America" or "Latino in America" though despite not having a presidential candidate of those races running. Then maybe CNN and I can talk.

rainywalker said...

I really don't think anyone is listening. We talk but there has to be someone in Washington who is listening. Starbucks is down to something like $22 dollars and I don't even drink coffee.

msladydeborah said...

T,

Would you think about putting a warning on your post when you are showing ugly lil' critters? I am not scared of worms of any kind~but those are some ugly little mothers! Ugh!

I have been on a television fast for the past 8 days. I cut the set off last week and it has been watching me. So I missed Black in America. But then I do not need anyone to tell me about the experience. I have a half a century of my own to draw from.

WTF is the nonsense about you not being a leader? Excuse me my brother but when you throw down in print, you are leading folks somewhere! So that is a moot point IMHO! (:-)

I draw from the wisdom of my elders. My mother maintains that when the banks start going under it is time to seriously pay attention to your own purse and bankroll. She was a Depression Era product so I have to believe she knows what repeating the cycle looks like.

My goal is all about green this year~period. I stopped spending and started trying to get myself some understanding about what to do with my $$$'s. Because I have already seen what not having will do to folks.

But I also believe that diversions away from the problem are always ever present. A lot of attention is being given to things that are the off shoots of the root.

rawdawgbuffalo said...

RiPPa
Back watched and best belive I got yours jones

Waiting for Zufan!
I don’t love money, I don’t worship it, u buy from me and I buy from u that’s all

Naeemah
U silly

YAZMAR
Yea , black white do nt matter as long as we spend and buy from each

Aly Cat 121
lol

IntrospectiveGoddess
Yep, that’s what makes us in the same gang read buelaha mans comment

4GOTTEN1
We have too, we must to eat

no_slappz
my brother and white supremacist holding it down, see love is color bling folk

Anonymous
Im flatttered

PrettyBlack
True dat, thanks for the love hon

OG, The Original Glamazon
That’s why u the truth

no_slappz
Slappz, ripps and PBG my folk, respect his opine, and I have lived in Zimbabwe have u. again same social club, I mean gang folk

memphiz
Recession is best time folk

Pajnstl
I aint know u were married. Keep having them talks

Regina
Thanks hon

Jay Midnyte
Well said folk

enigma4ever
Y thank u sister

Sincere
Thanks folk, wanted to meet u this weekend

BeKinky_Paula
Well tell me how sister, whites and blacks and yellows hungry. Im listening. U address race and ill address feeding my folk str8?

BlaHHH
True and where have u been, u get apt yet

plez
so true, spoken like a scholar, but u know im just LCDing – least common denomator

Seven
Ojay’s

Crian
I know it did, but I was just addressing the pomp and circumstance, when I saw no pragmatic

fly tie
u welcome

Lena
Somebody gotta watch just not me, the perambulator – me likes the Blues brothers look on u

rainywalker
now that is scarey

msladydeborah
scarey, u never impressed me as a girly man lol just joking – I love bugs

CapCity said...

Well... T-Dawg, seeing as once upon a time my folk WAS the currency of the day (but then again - has that really changed?;-) ...hmmmm, what dat make me? Kermit said it: It's not easy BEING GREEN;-). LOL!

Torrance Stephens - All-Mi-T said...

Cap
We all have to try

Tamra said...

Interesting that things like this don't get a fraction of the airtime, analysis and outrage that other things seem to have gotten (e.g. Anna Nicole, Lindsay, Brittney, J. Wright, TNY cover).

I usually get *part* of my real-world/street-level financial fix from eavesdropping on the annoying old gray-haired farts in the gym who seem to do pretty well in their commentary and analysis. So far, they've all been dead on about the state of the economy and the fuckups of Corporate America and of our govt up to this point. And if that's any indication, what they said this morning should totally freak us all out. Their outlook wasn't pleasant.

One more thing--it amazes me how we (black folks) tend get all bent out of shape about perceived slights from the media. I find it even more baffling that, when it comes to issues like this, we seem to be downright oblivious (I think primarily out of just sheer lack of knowledge), hoping that we won't somehow become part of the fallout. Seems like we need to shift our focus big time, as you alluded to in your post...

It goes without saying that some folks should have paid attention in economics class. However, if a refresher is needed, I suggest folks head to their nearest book store post-haste and get on it. For those who have never taken an economics before, there are a ton of introductory books out there. This is a huge learning opportunity for *all* of us.

Torrance Stephens - All-Mi-T said...

Tamra
So true, we don’t think, follow, and let the media pimp us like hoes

no_slappz said...

jay midnyte, you wrote:

"Let's say rippa's talking about K-12 education... then he's right."

jay, you have simply indulged in creating a "strawman" response to an issue. The fact that you can find a place in the academic world where Financial Education is not taught means nothing.

From age 5 to 18, students need to learn the basics. Millions of kids learn very little in those years. Reading, writing and arithmetic are all essential for understanding finance and economics.

Meanwhile, you are wrong about the teaching of financial stuff before college. My high school included an introduction to economics as a major part of a Contemporary History class that was required of all students. I went to high school a while ago.

But offering economics to kids who read very little, cannot perform much math and cannot write coherent sentences is a waste of time. If kids are bored with other subjects they will feel just as bored and unmotivated in economics class.

Meanwhile, you are suggesting once again that somehow it's possible to pour knowledge into someone's ear.

If you want to learn about economics, go to a thrift store or a used book store and buy a standard college economics text. In thrift stores they are usually available for $2. A standard economics text is one written by Paul Sameulson. But there are others. Buy it and read a chapter a day. The stuff is easy to digest.

You wrote:

"There are very very few finance courses. You would think high schools would have a few, but it doesn't. I should know, I came out in 2007."

What do you think a "finance" course covers? I've got a feeling you have the wrong idea.

You said:

"They have "economics" and another basic business course that really focuses on straight simple business knowledge everybody knows."

"Economics" is not "basic business" if you are suggesting something that amounts to "bookkeeping."

You said:

"And we will see how minor those bank collapses and the effects are in the next year."

The effect and impact of the three bank collapses is ZERO. It seems you do not understand that even if a bank fails, its borrowers and depositors are unharmed. That's all that really matters.

The underlying banking business is little more than a group of people who work to keep enough assets producing enough interest income to pay the depositors and a few other bills. You can be pretty sure that almost all the employees at the failed banks are still working at their old jobs. The top guys, who bear the ultimate responsibility for guiding the banks a little off course are probably gone, but even they may have retained their positions -- for now.

If several BIG Banks failed, that might shake the "faith" in our banking system. But when a few small banks fail and they are taken over by federal regulators without disturbing the customers, Americans retain their "faith" in the banking system and the problems are solved according to plan.

There is no catastrophe, which seems to disappoint you.

Folk said...

deep. insightful. ...and yet the story isn't over. that's sad.

Torrance Stephens - All-Mi-T said...

Folk
so true, so true

Gee said...

The banks are ridiculous. It seems like everything's loosing money: banks, stocks, mutual funds, etc. Almost every investment is bad right now except for real estate

Kei said...

You made a lot of good points in your post, and some I could agree with. I watched the Black in America series, and liked the job that Soledad and the rest of the CNN team did in producing it. Of course there is always room for improvement, but nothing will ever be perfect. For me, it was a "start" for us all to begin talking about race relations in this country since the civil rights era. Everyone is so afraid now to voice their opinions on race, that when situations like the Imus incident or Dog the Bounty Hunter incident arise, everyone trembles. I think people should state their fears, worries, concerns, but do it respectively, and in a calm manner. Therefore, we get it all out in the open, and everything isn't so taboo anymore. It may do more than further divide, it may actually bring us all closer together.

Cat said...

I think it's good Obama went overseas but he really needs to pull a strong foreign policy game to get some support.
CNN special- I watched but learned nothing new- would be nice if they offered some solutions instead of making "our" lives look so damn depressing!
Banks- I try to diversify, got my money in differnt places but yes, it is always scary to have your money someplace else other than in your hands.
If this economy doesn't give the middle class a break we are all going to be in some big trouble!

Torrance Stephens - All-Mi-T said...

Gee
And gold, but there are some stock im looking at now, and don’t forget about forex

Kei
Maybe, maybe not, they do it everyother year and it’s the same, like a re-run

Cat
We already in some hot water sister

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