Top 10 ways for blacks to weather financial storm

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.

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One thought on “Top 10 ways for blacks to weather financial storm

  1. I was very young when Dr King was killed, but I’ve hear and read his speech which echo stronger to me than any other of the great speeches I’ve learned in school. More than 40 years later, when I read it, I think to myself, “I still have this dream.” I am part of another minority against whom the same racism has been aimed as against those with black skin. I look forward to the day that blogs such as this are no longer needed because we are all in this together and when we look at any data, we are all represented. In politics, in business, everywhere, all the same. I look forward to the day that when we tell our grandchildren about the racism anyone experienced in the early 2000’s they look at us like we’re crazy, gramps, why would anyone have cared what religion you were or the color of your skin? And I know when I vote in 9 days, I will have been part of history, which I hope is the turning point for those of color throughout the country. I hope you tell your children that sometimes things do go right in the world, and while no one can take back the racism that any of us experienced over the last few millennia, we can still move forward and pray together for the world Dr. King dreamt of.

    Joe

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