An examination of the distribution of wealth among black people in the wilderness of North America yields some startling revelations. The first difficulty in the study of said subject lies in the limited availability of trustworthy statistics. Not only might they not be up to date, but, depending on the source, they may not be right and exact. Fortunately, for the purpose of high level analysis, rounded figures are all that are required. The figures set forth in this build are the byproduct of my research and come from more than one source. The reader should accept this disclaimer as encouragement not to take the numbers on face value, and to conversely, focus on the qualitative assertions that I make correspondent to them, which I will whole- heartedly stand by. Simply put, if you want better numbers, find them your damn self. In order to lay the groundwork for this type of build we need to first look at some statistics. My research shows that blacks spent about 507 billion dollars in the U.S. in 2010. There were approximately 40 million blacks in the country, which equates to about 12.3% of the total U.S. population. I attempted to find the average black person’s net worth in 2010, but was unable to locate figures. Regardless, we can draw up plenty with the figures that we have. If you divide that cumulative spending figure by the population figure you get about $12,675/person. That’s not a lot of money. Granted, there are a multiplicity of factors which are not figured into the equation such as earnings, distribution of wealth, unemployment, savings, etc. To that point, I found a list of the ten richest black people in 2009, along with their respective estimated net worths. Their cumulative net worth calculated to about 6.7 billion dollars. Now, if you take the total amount that we spent last year and calculate what percentage of that figure the total 2009 net worth of these ten individuals comes out to, you get about 1.32%. So ten black people, in one year, made somewhere in the neighborhood of 1.3% of what 40 million black people spent the following year. This emphatically shows and proves that the 10% among us is ballin’ the fuck out of control. It also illustrates how wide the economic divide between them and the 85% really is. I did some additional research on this so-called “black overclass” and discovered some troubling reality. While a good number of these people collaborate on joint financial ventures, these endeavors rarely represent noteworthy earning opportunities for people at the bottom of the black financial totem pole. Certainly there may be philanthropic expenditures referenced on their tax filings, and a few isolated generous monetary acts, but that charity doesn’t equate to a drop of piss in the pool of black money that the poor among us will ever see or touch. Generally, the further a black person advances in terms of accumulating wealth, the more detached they become from the economic plight of their brothers and sisters in lower tax brackets.
If you think this is a mathematical tragedy, there’s more. The following list illustrates what black people, in the U.S. spent money on in 2008.
Apparel Products and Services
Cars and Trucks – New & Used
Entertainment and Leisure
Households Furnishings and Equipment
Housing and Related Charges
Personal Care Products and Services
Sports and Recreational Equipment
Tobacco Products and Smoking Supplies
Toys, Games and Pets
Travel, Transportation and Lodging
We spent more on toys, games, and pets than we did on books and we wonder why so many of our children are dumb as hell. The fact that we spent more on alcohol and tobacco than on books illustrates why many of the adults among us are stupid as fuck. If we combine the amount we spent on vehicles, housewares, household furnishings and equipment, and apparel, the figure easily eclipses the amount that we spent on education. Obviously, we are grossly misappropriating our money based on faulty prioritization of needs vs. wants. The disparity in earnings between that of the 10% and 85% also makes self-evident a disproportionate allocation of information, in that for such a small group of us to be making so much more than the rest of us, that elite few must know a lot of things and people, that the rest of us don’t. In this sense, they are light-years away from advocating one common cause. I watched a video report about black millionaires in the 21st century, which can be viewed at this link/url: http://www.hulu.com/watch/59924/cnbc-originals-newbos-the-rise-of-americas-new-black-overclass. What jumped out was the fact that most of these people achieved their success in either sports, entertainment, or marketing of goods and services targeted specifically at black people. Ironically, the most wealthy of the interviewees, Bob Johnson, stated that these three industries represent the areas in which black business people are most likely to flourish. Here’s the problem, the likelihood of the average person achieving success in the first two of these areas is astronomically low. Mathematical probability easily bears this out. The third referenced industry not only ropes and binds blacks into direct competition with one another for revenue coming almost solely out of our communities, but it also steers their focus away from more global markets which would allow them to tap into a larger pool of money. I realize that there are thousands of black millionaires who compiled their fortunes in a variety of industries other than these. However, as it pertains to the elevation of the black collective, their efforts and identities remain in a fine mist. As a opposed to charitable donations and handouts, black people need access to what I call pipelines of elevation. The concept refers to a direct path which will lead to economic prosperity whereby hard work is rewarded by opportunities to advance in any of a number of different fields, aside from music and athletics. I cannot be convinced that a group of people who spend in excess of 500 billion dollars annually can’t create an economic pipeline through which they can collectively become far more self sufficient, while providing visible opportunities in the areas of education and employment, which are not predicated upon assistance from the devil. Suppose there were clandestine conferences held on a quarterly basis among black millionaires across various key areas such as the fields of medicine, mathematics, engineering, education, social service, agriculture, and banking, just to name a few. Over the course of a few short years, a pool of resources and a well thought out method of directing them toward the uplift of our communities could easily be made manifest. All that it would take is commitment to the cause. Within wisdom cipher years we could be so locked in on the path to self-determination that other groups would have no choice but to come to the table and propose trading. The science of one for all and all for one has to become ingrained in the psyche of the most privileged of us in order for it to trickle down to the masses. It could definitely happen, the question is will it?