Quantcast

Economics 101 For Blacks

Jr. | , Alton H. Maddox | 4/12/2011, 4:39 p.m.

History is about to repeat itself. Blacks are in a game of musical chairs. After Reconstruction, whites lured Blacks into the Republican Party by claiming that President Abraham Lincoln had freed the slaves. He actually sponsored a "Back to Africa" campaign. On the other hand, Democrats cited President Theodore Roosevelt for hosting Booker T. Washington at the White House, and afterwards, passing the baton to FDR. LBJ seized the baton in 1964 and the rest is history. President Bill Clinton was the icing on the cake.

In this context, it is meaningful that the first Black president of the United States is Barack Hussein Obama, while the first Black chairperson of the Republican National Committee is Michael Steele. This is the beginning of a political tug-of-war. One person's trash is another person's treasure. It is like distinguishing a terrorist from a freedom fighter. Blacks are clueless that they hold the balance of political power. Parenthetically, Walt Whitman described Lincoln as having a "dark brown face." History is repeating itself.

Recession also means that everyone is in recess. The fate of every group will depend on either their work or play during recess. Financial institutions and big business are already engaged in economic reorganization. Banks are being nationalized. Similarly, political parties are engaged in political realignments. Trade groups are debating free trade versus protectionism. Labor unions are lobbying for fewer legal restraints to organizing. The central theme is self-preservation.

During recess, Blacks must decide if they are going to be pawns or players. As the nation discusses a "Buy American" campaign, Blacks must debate the propriety of advocating a "Buy Black" campaign. Blacks export more then 95 cents out of every dollar to other communities. This is "free trade."

Tariffs were a cause of the Civil War. The absence of tariffs is consistent with free labor. The Union advocated protectionism. Blacks are trading themselves freely back into slavery. How we frame the money trail will determine our fate.

Unless a group has a political party, it is politically voiceless and lacks the ability to exercise political rights. So far, we are only exercising voting rights. This has been the predicament of Blacks since 1870.It has been a game of musical chairs. Initially, Blacks were enrolled en masse in the

Republican Party. Today, Blacks are enrolled en masse in the Democratic Party. Under this circumscribed, monopolistic arrangement, political leverage is impossible. Like credit is the lifeline for free enterprise, political leverage is the lifeline for politics. Bush 43 was able to get his way regardless of which political party controlled Congress. He was able to go to war in Iraq without cause and shove the Patriot Act down our throats under a Republican Congress. His ally was fear.

With a Democratic Congress, Bush 43 was able to shove the Troubled Asset Relief Program down our throats despite its lack of transparency and the lack of any review of the actions of former Treasury Secretary Henry Paulson. Overnight, Goldman Sachs became a bank holding company. This means that it is holding the loot.