blackmoney.com has a new list of ten ways African-Americans can specifically address the financial tsunami sweeping the United States and the world.
Trouble in the Air: State of Black Business, Fifth Edition predicted in the spring that the weakness among black consumers would spread to the larger economy. However, that also means African-Americans, now facing an 11.4 percent unemployment rate, had a leg up on the resilience and creativity needed to cope with almost daily shocks to economic peace of mind.
blackmoney.com executive editor John William Templeton, now touring the East Coast, drew inspiration for the list by watching how African-Americans in small and large towns are keeping grounded despite facing the worst part of the subprime mess, the aftermath of Hurricane Katrina, skyrocketing energy and health costs and rising costs of higher education.
He notes that some of the most affluent black entrepreneurs, like the public company RadioOne, on the verge of being delisted, despite what many are considering the best exposure ever for black radio; or billionaire Bob Johnson, laying off staff at his NBA franchise, are feeling the heat, which should be a sign for typical families to trim their sails.
Templeton’s commentary Is There An Obama Play in the Market? is in the October newsletter of the New York Society of Security Analysts.