There is something that is going to happen when reparations is given and it won't be pretty. Whether its America, the Caribbean or Africa, if its direct payments, most, and I'm guessing at least 75% (if we are lucky) will squander it. Either right away or within 5 years.
Why? We are culturally, as a collective, not ready for wealth building or generational wealth. It is a result of the reasons WHY we are getting a check in the first place.
That said, its not unusual. There is a reason why almost all lotto winners eventually go broke, whether they are black, white or whomever. Same reasoning. They have no background in wealth building and generational wealth.
It's the same reason why most native Americans are living at the bottom of the socio-economic barrel mired in alcoholism and poverty.
Here is something that is rarely discussed. Most of the Jews who got and are getting reparations in Israel aren't living a middle class existence. We have to remember that early on they were mostly urban and/or middle class Jews brought to the death camps from various cities in Germany, Austria, France, Belgium and the Netherlands. Those died early on, the later arrivals were from Russia, Ukraine, Poland, slavic peoples largely from rural and small towns and not well educated.
These were most of recipients and they lived a basic existence from menial jobs in Israel, subsidized lifestyle similar, and the reparations check which was a few hundred dollars. So, very, very few flipped the money. They didn't have the background in money management, etc. and to be fair, many were traumatized.
So, its going to be the norm that most will squander it. But don't despair. You gotta factor in the Pookie and Ray Rays. The true power of it will come from people like you guys. The ones who won't rush down to the Nike store to get the new Js. Out of that existing 15-20 percent of blacks with the check will come the next millionaires and billionaires. They will flip it into a variety of businesses and other black empowerment endeavors. That's who want to make sure has it. That young black kid who will be the next Zuckerberg or Bill Gates. The next music or movie company mogul. By the time reparations come the hope is that B1 mindset is going to become pervasive. Those who are dusty will be ostracized and more and more blacks who would have otherwise been ratchet will have a black empowerment mindset as the cutting of the check comes closer. Because to get to that point of forcing a check, a certain percentage of us will have be on code anyway.
Still, you will always have Pookie and Ray Rays and they will squander it. It's their money, their right but there will be more than enough who will flip it.
Why? We are culturally, as a collective, not ready for wealth building or generational wealth. It is a result of the reasons WHY we are getting a check in the first place.
That said, its not unusual. There is a reason why almost all lotto winners eventually go broke, whether they are black, white or whomever. Same reasoning. They have no background in wealth building and generational wealth.
It's the same reason why most native Americans are living at the bottom of the socio-economic barrel mired in alcoholism and poverty.
Here is something that is rarely discussed. Most of the Jews who got and are getting reparations in Israel aren't living a middle class existence. We have to remember that early on they were mostly urban and/or middle class Jews brought to the death camps from various cities in Germany, Austria, France, Belgium and the Netherlands. Those died early on, the later arrivals were from Russia, Ukraine, Poland, slavic peoples largely from rural and small towns and not well educated.
These were most of recipients and they lived a basic existence from menial jobs in Israel, subsidized lifestyle similar, and the reparations check which was a few hundred dollars. So, very, very few flipped the money. They didn't have the background in money management, etc. and to be fair, many were traumatized.
So, its going to be the norm that most will squander it. But don't despair. You gotta factor in the Pookie and Ray Rays. The true power of it will come from people like you guys. The ones who won't rush down to the Nike store to get the new Js. Out of that existing 15-20 percent of blacks with the check will come the next millionaires and billionaires. They will flip it into a variety of businesses and other black empowerment endeavors. That's who want to make sure has it. That young black kid who will be the next Zuckerberg or Bill Gates. The next music or movie company mogul. By the time reparations come the hope is that B1 mindset is going to become pervasive. Those who are dusty will be ostracized and more and more blacks who would have otherwise been ratchet will have a black empowerment mindset as the cutting of the check comes closer. Because to get to that point of forcing a check, a certain percentage of us will have be on code anyway.
Still, you will always have Pookie and Ray Rays and they will squander it. It's their money, their right but there will be more than enough who will flip it.
