During the anniversary week of the March on Washington, George Kilpatrick’s New Inspiration for the Nation airs an interview with National Black Business Month co-founder John William Templeton on his new book Year of Jubilee: State of Black Business, 10th edition.
Templeton, chief economist for the West Palm Beach, FL fourth-stage hedge fund Ibis Partners, calls on the Federal Reserve to commit $3 billion per month from its quantitative easing to create a secondary market for loans to African-American businesses. SBA loans to black firms have shrunk to $230 million per year compared to almost $3 billion to Asian firms and $800 million to Latino companies in 2011 despite almost $7 trillion in public assistance to financial institutions since 2008.
Year of Jubilee estimates that the real demand for credit among black businesses approaches $30 billion per year, a level which would pump an additional million jobs into the economy, while not even a decimal point on the $1 trillion yearly in quantitative easing.
Kilpatrick’s show is heard on stations of the African-American Public Radio Consortium nationwide. Some air dates include: