Black Wealth

I’ve recently watched part two of “Hidden Colors: The Triumph of Melanin” the film went into depth about a lot of social issues, and how almost everyone on Earth originated from Africa. I also learned how scientist will sometimes cover up the true origin of artifacts that are found. Near the conclusion of the film the Black leaders, who were made up of activists, professors and hip hop artist explained how the Black community was the poorest among all inhabitants of the USA. Umar Johnson and Booker T. Coleman explained that Black America was poor because we didn’t invest or establish businesses. We don’t have anything to fall back on. We leave stock investing to the majority and if we do invest we invest in saving bonds or life insurance, both of which might not amount to much.

At one point in time there was a Black Wall Street that was founded in Greenwood Tulsa, Alabama. It was a thriving community and was home to some of the first ever black businesses. It was tragically destroyed in 1921 during a race riot and from which on the Black community never recovered. Ever since then we now spend our money on designer clothes and accessories while other minorities invest money in their own businesses.

“Living a Gucci life, on a Walmart budget”

When Black people have nice paying jobs and aren’t living paycheck to paycheck we go out and treat ourselves to nice things, while other communities are investing in their 401K retirement plans and putting away college funds for the next generation, while also starting up new businesses or passing down old money. Coleman and Umar Johnson explained that African Americans as a whole want change but we have no way of supporting one another.

Black people spend money on clothes, cars, shoes, ect… But never spend money on things that accumulate wealth. We have nothing that builds interest, and we can’t pass anything down to our children so they can establish or build on what we left them. Black America will march for justice, and equal rights but then go out and use government hospitals, and buy clothes from clothing lines that don’t benefit us. As a community we should try to rebuild Black Wall Street and invest in our own businesses that can be geared toward helping the Black community and funding projects that we may come up with to help us push toward the future. We should build our own society and depend on one another because of the common goal we share.

There are currently 38 Black owned banks and credit unions in the United States, if the Black community came together and put there money to good use, investing in these banks could be a good way to start. A website called supportblackowned.com is a great way to give back to our community. If African Americans start putting their money where it counts, we can finally make a dent in the economy and slowly but surely start being taken more seriously by the big businesses and politicians.