Can Black Wallstreet Be Rebuilt?

By: Leon Kwasi Kuntuo-Asare

If ever there was place or time where black prosperity and wealth was of abundance in the African-American community, it would of been the Greenwood section of Tulsa, Oklahoma. Locally referred to as “Black Wallstreet “, by its local residents, and the time would of been the early part of the 20th century. In only a few generations from slavery, the black people in the small and segregated community were not only able to financially survive, they thrived, many of them had more wealth than the local white residents. They built that wealth by hard work and a keen entrepreneurial mindset. With that mindset they owned and controlled their own banks, businesses, grocery stores, restaurants, churches, private airplanes, movie theaters and hospital; until it was all destroyed by its racist white supremacist residents in 1921.

My question is could it be Rebuilt? Not only on a local level, state level, national level, but on an international level, since black people have been economically disenfranchised on a global level, from the cold Detroit streets to the hot Ghanaian streets.

According to financial expert, Dr. Boyce Watkins, black wealth could be Rebuilt using what Watkins calls “the three pillars of wealth”, and that is investing (stock market and bond investing), entrepreneurship ( business creation and ownership), and real estate ( home/rental property ownership ).

Using the three pillars of wealth system, In a generation or two, with stock value increasing due to compound interest and profits from real estate and other entrepreneurial ventures, maybe the massive wealth gap, between blacks and whites (that many people complain about, but do nothing about), could start to close. To the naysayers who think this is impossible, because black people do not have any money, I say Google “black spending power”, according to magazines like Fortune, black American spending power is over a trillion dollars a year. That is more than the GDP of most countries, around the world.

Now, just imagine if a 20% ($200 billion) of that trillion dollars was invested, in the stock market, and in starting businesses and buying real estate in our own communities. So, instead of having to beg a community outsider for a job, we could create a job, for someone in our community. Which is really needed in the black community, because despite all the claims from Trump, about historically low unemployment in the black community; what Trump or other politicians won’t tell us, is that the people who have giving up looking for a job, or whose unemployment benefits have been exhausted, are not counted in unemployment statistics. A recent CNN article titled: “1 in 5 black men did not work in 2016, study says” claims that 20% of working age black men did not earn any income in 2016. Which means they either became homeless, became dependents of a family member or significant other, or joined the underground economy, which more times than not leads to prison.

So to insure, the future of our communities, not only should we start to save and invest in the stock market, which can be done very easily using cost-effective investment apps like Acorns, Stash Invest and Robinhood, but we should educate ourselves and our families on financial responsibility, by reading books like “The $5 A Day Stock Market Investing Plan” or “Black American Money”, which are both by Dr.Boyce Watkins, and we should also, protect that wealth for the next generation by forming a business, getting a Will and starting a family trust, all of which can be easily done by using cheap online services like legalzoom.

For additional information use the link below:

https://en.m.wikipedia.org/wiki/Greenwood,_Tulsa

http://fortune.com/2018/02/28/raceahead-nielsen-report-black-buying-power/

https://money.cnn.com/2018/02/26/news/economy/black-men-hours-epi/index.html

Kanye was Kind of Right About The 13th Amendment

By: Leon Kwasi Kuntuo-Asare

It may be hard for many left-leaning liberals, or African-Americans to admit, but Kanye west, was kind of right about the 13th amendment.

Now, he was wasn’t right in saying the 13th amendment should be abolished, but it should be amendment or rewritten. Because contrary to popular belief the 13th amendment did not end slavery; in fact it only ended antebellum slavery, but it permitted slavery as long as it was in prison, as a form of hard labor to people convicted of a crime.

The 13th amendment states:

“Neither slavery nor involuntary servitude, except as a punishment for crime whereof the party shall have been duly convicted, shall exist within the United States, or any place subject to their jurisdiction.”

Once the 13th amendment was passed, southern states began to immediately pass white supremacist laws, known as “Black Codes” and later “Jim Crow”, that were meant to disproportionately punish and incarcerate the black community, for minor infractions that most white people of that time wouldn’t get punished for. Like attempting to eat at a “Whites Only” counter or sitting in the “Whites Section” of a bus, even though whites could freely sit at any black section without fear of
persecution or prosecution.

Even today the 13th amendment is still be used in a harmful way against black people. Especially in a time of over policing in poor and economically disenfranchised, ethnic minority neighborhoods, and mass incarcerating those very same people for in most cases non-violent drug offenses that many white citizens get rehab for.

One example of this is San Francisco, a liberal city that has gentrified most of its black and many of its Latino residents out of the city, while at the same the time it has programs that give many drug addicts (most of whom are white), new, so-called clean needles to shoot up their drugs, which unfortunately they then leave where the average person could sit or step on, and possibly be infected with a harmful disease.

Now, I am not here advocating that prosecutors, jurors and judges start handing down harsh punishments for drug offenses to whites as the do to ethnic minorities to make up for past injustices in the justice system, rather I am saying people who commit drug offenses and other minor infractions, should be treated, in rehab or receive some form of therapy, rather than be sent to corporate prison somewhere to be a modern day slave.

For additional information use links below:

https://www.google.com/amp/s/www.cbsnews.com/amp/news/kanye-west-explains-13th-amendment-comment-slavery-involuntary-servitude/

https://en.m.wikipedia.org/wiki/Thirteenth_Amendment_to_the_United_States_Constitution

https://en.m.wikipedia.org/wiki/Black_Codes_(United_States)

https://en.m.wikipedia.org/wiki/Jim_Crow_laws