Economics

How the 1% Control the 99%

December 6th 2011

As Charles Hugh Smith points out in, “The Company Store Debt and Serfdom, the “New World Order” is based on the European model of monarchs and serfs. Monarchs were forever to be enriched by serfs, who were the workers. The monarchs controlled every aspect of the serfs lives, i.e. food, clothing and shelter, which kept [...]

Stimulus Jobs Cut

October 3rd 2010

Latest unemployed: Stimulus-subsidized workers By Tami Luhby, senior writer NEW YORK (CNNMoney.com) — Tens of thousands of low-income workers lost their jobs Thursday as a stimulus-subsidized employment program came to an end. About a quarter of a million people in 37 states were placed in short-term jobs thanks to a $5 billion boost to [...]

Are Credit Scores Being Used Against the Black Community?

July 2nd 2010

Tony Bryant once owned the largest black mortgage company in the Southeast until 2009 when he lost 80% of his mortgage closings in escrow, when credit scores were applied to those seeking FHA loans. “A distinction has to be made between ‘credit reports’ and ‘credit scores’. The use of ‘Credit scores’ was not started until [...]

Five Dollars a Day – by Arifah Madyun

July 1st 2010

I knew a sweet lady whose days started between 5:30 a.m. and 6:00 a.m. She would start her day by whispering an early morning prayer to whom she believed was Jesus in heaven. Rising from her knees she would get dressed for work. I saw this sweet lady leave her house daily to go to [...]

Black America: Sinking to a New “Bottom”

July 1st 2010

Corporate economists have lately grown fond of saying the economy is “turning the corner,” but for African Americans, it’s shaping up as a long and very scary ride downhill. Official labor statistics show Black unemployment rose to 16.5 percent in March, up from 15.8 percent the month before, while white joblessness remawined steady at 8.8 [...]