MISSING IN ACTION BLACK FATHERS AND RACIAL INEQUALITIES

This has been a tough week.  Peaceful protestors; Criminals looting and damaging businesses and properties; Two Police officers killed, and hundreds wounded; Social media overflowing with words, pictures, slogans.  So far, the only solution I have heard widely articulated is defund the Police.

IF BLACK LIVES MATTER, DEFUNDING THE POLICE IS THE WORSE IDEA I HAVE HEARD THIS WEEK

Chicago demonstrates the results when you inadequately fund the Police.  Chicago’s ratio of Police officers per 100,000 residents is among the lowest in major U.S. cities.  The previous Police Chiefs estimated a need for minimum 1,000 additional Police officers on the dangerous streets of Chicago.  The results: 49 shot over Memorial Day Weekend and 10 dead.  I believe the ten killed were black/brown, as is typically the case.  Approximately 500+ blacks and browns will be shot and killed in Chicago in 2020. Same as last year and the years before. I advocate we do not need defunding of Police in Chicago.

 

WITHOUT CLOSURE OF  THE EDUCATION AND WEALTH GAPS RACIAL EQUALITY IS IMPOSSIBLE

First priority, to close the education and wealth gaps in the black and brown communitiesWhich requires black and brown men to STOP fathering babies and abandoning their own children. You are not a father if you do not care for, {LOVE, time, money, encouragement, discipline, and LOTS MORE} your own children.  You are worse than a sperm donor, as he is NOT expected to be in that child’s life.

 

 

AFRICAN AMERICAN STUDENTS NOT JUST LAGGING WHITES BUT FALLING FARTHER BEHIND

On 2019, national tests last year, only 18 percent of black 4th-graders scored proficient or greater in reading.  Let that sink in, 18 percent of 4thgrade, black kids in the U. S. can read at a MINIMUM of a 4th grade level.  For white 4th-graders, 45 percent scored proficient or greater in reading.  For 8th graders, the percentages dropped to 15 and 42 percent.  The U. S. K-12 education system is broken and failing, especially for minority and poor children.  If back lives matter, these scores should outrage you!

THE HORROR PREDICTED BY THESE TEST SCORES  FOR BLACK AND BROWN STUDENTS:

  • Greater struggles at every grade level and falling behind in high school
  • Lower high school graduation rates
  • Lower employment rates
  • Lower average wage rates
  • Lower college attendance
  • Lower college graduation
  • Increased probability of incarceration {finally we get the word increased but in the wrong damn statistic!}
  • Failure to close the WIDENING wealth gap between whites and blacks.

Those percentages for black students are lower than the figures from two years before. We are going in the wrong direction, as more Dads go missing in action!

Albert Einstein said: “The definition of insanity is doing the same thing over and over again and expecting different results.” “Everyone is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.”

Reading scores for African American, Hispanic, and low-income students have been so low for so long, and efforts to raise them have been so ineffective, many young and intelligent minority students have come to simply accept their failing scores. Too many people have given up on education as a means of righting social wrongs, arguing that poverty and racism are too powerful to overcome.  I cannot accept that.

 

The reality, TWO (we need the Dads) engaged parents MAKE A HUGE DIFFERENCE!  U. S. public education works best for kids from two parent homes with, engaged, educated parents who have ample resources {Money to pay for testing laptops, computes, Windows software, books, books, books!}  A large percentage are white. But good and engaged parents without the ample resources, can work with their children to ensure the homework is being done.  Drive your kids to a library to use computers if that is the only option.  Skip a new pair of Jordan’s every year and instead buy a used laptop or iPad. {Folks Michael Jordan is a Billionaire.  He will do just fine if you skip his latest $350 shoes.} Reduce their screen time and replace it with reading and studying time.

EDUCATION DOES NOT END WHEN THE LAST SCHOOL BELL OF THE DAY ENDS! 

YES –  IT MATTERS THAT 73 PERCENT OF BLACK BABIES ARE BORN TO SINGLE MOMS

https://wealthbuildingpowers.com/2019/12/16/does-it-matter-that-73-percent-of-black-babies-are-born-to-single-moms/

This is not discussed by our politicians, our religious leaders, by anyone!   The one man that could have and still can lead this discussion is President Barack Obama.  My search indicates he publicly discussed this twice.  What is that once every four years?

PRESIDENT BARACK OBAMA:  “Too many black fathers, are missing from too many lives and too many homes. They have abandoned their responsibilities, acting like boys instead of men. We know the statistics — that children who grow up without a father are five times more likely to live in poverty and commit crime; nine times more likely to drop out of schools and 20 times more likely to end up in prison. They are more likely to have behavioral problems or run away from home or become teenage parents themselves. And the foundations of our community are weaker because of it.”

 

FOURTY PERCENT BLACK PRISON POPULATION

 

Black people make up ~40 percent of the U. S. prison population, while making up ~13 percent of the U.S. population.  We have a problem! 

 SINCE 1963, THE AVERAGE FAMILY WEALTH GAP HAS WORSENED FOR BLACK FAMILIES {57 YEARS OF NO PROGRESS}

 

 

WHAT CAN WE DO TO FINALLY DRIVE CHANGE AND ACHIEVE EQUALITY? 

The definition of investment is the sacrificing of real products and services today (Jordan sneakers; new car; $300 jeans; etc.) in order to have more real and value-added products and services {Mortgage free house; rental properties; college funds for your kids; retirement accounts, etc.)  in the future.  Therefore, receiving a larger quality and quantity of products and services in the future. We achieve this by first investing in our children and their education.

 

 

STOP DOING THE SAME THING OVER AND OVER AGAIN AND HOPING FOR A DIFFERENT OUTCOME

 LET’S MAKE THE BELOW OUR NEW AND FUTURE REALITY

  • Get married BEFORE you have children.
  • Dad’s stay ENGAGED in your children’s lives! ESPECIALLY financially and emotionally.
  • EDUCATION IS THE KEY!
    • At the minimum – Complete high school. Today, a high school degree with get you minimum wage to $15 per hour.  Robotics and Artificial Intelligence may eliminate 50% of those jobs.  Therefore, minimum education is NOT ENOUGH.  Continue your education after high school.  
    • College is NOT for everyone! Enter Trade School and become an Electrician; Mechanic, Appliance Repair Person; Carpenter; Robotics Specialist, etc.
    • Community college is an inexpensive way to get two years college education. Then you transfer to an In-state (to control tuition) college. 

HOW COLLEGES FOOL YOU INTO OVERPAYING FOR UNDER PERFORMANCE

https://wealthbuildingpowers.com/2019/04/29/how-colleges-fool-you-into-overpaying-for-under-performance/

  • GET A JOB!

  • For four-year college grads, continuously educate yourself. Attend graduate school.  Seek professional certifications.  
  • Build your FINANCIAL LITERACY – Investment and Finance Education/Competency

FINANCIAL LITERACY IS JUST NOT THAT COMPLICATED – TRUST ME!

https://wealthbuildingpowers.com/2019/04/01/financial-literacy-is-just-not-that-complicated-trust-me/

  • Become an entrepreneur if that is your dream.
  • SPEND LESS THAN YOU EARN; SAVE THE REST; INVEST WHAT YOU SAVE!

CREATE WEALTH BY PAYING YOURSELF FIRST

https://wealthbuildingpowers.com/2019/07/01/create-wealth-by-paying-yourself-first/

 

DO BLACK LIVES REALLY MATTER?

At least 28 people were shot in Chicago this weekend and three died. More than 500 people, majority black and brown, men and women, children and babies, will die in 2020, in Chicago.  Thousands will die in the U. S. due to black on black crime in 2020.  Do black lives matter?  Or only if a Police Officer, especially, a white Police officer is the offender?  I have a wife, daughter, nephews, nieces, a brother, friends and family and all their lives matter to me, regardless of the color of their skin.  The lives of thousands that will die in 2020 matter and it is time we take real action.  Black men YOU MUST STEP UP!   You are the key to solving these problem.  Otherwise, we will watch more decades go back with little if any real change.

 

SUGGESTED FURTHER READING

DO BLACKS LAG WHITES IN FINDING GOOD JOBS AND BUILDING WEALTH IN 2019?

https://wealthbuildingpowers.com/2019/12/09/do-blacks-lag-whites-in-finding-good-jobs-and-building-wealth-in-2019/

TRAITS OF U.S. MILLIONAIRES

https://wealthbuildingpowers.com/2018/01/06/us-millionaires/

Thank you to all the “Essential Workers” who go to work to keep this country running.  Our brave and terrific health care workers, Police, Fire, EMT’s; the employees we used to ignore at the grocery, drug stores, Walmart’s, Target, etc.  The employees who produce our food, where so many have become ill with COVID-19 and some have lost their lives. 

To all the families who lost a loved one to this virus, I send my sincere condolences and prayers.

 

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ABOUT ME

I am a proud nerd (as my beautiful wife and daughter have told me) investment and finance blogger, with a NC State, Chemical Engineering, University Rutgers, MBA and Harvard University, Advanced Management education.

I left a corporate career because I had a desire for making a difference as a speaker and writer, to help others. I was blessed to be coached and mentored by strong women and men in both my family and professional life.  It is my time to serve and give back.

DISCLAIMER

I started my first business at ~13 years of age (small but brilliantly created plant nursery). I am a successful investor in stocks, options, real estate and happy to share my personal finance and investment lessons learned with you.

However, I am NOT a licensed financial advisor.  Please do not construe my suggestions on this blog, as recommendations for your personal situation.  For individual finance advice please seek your own licensed CPA or fiduciary financial advisors.  

I write this weekly blog to make an impact by reaching an audience and demonstrating the need for financial literacy. I will help you get there.

 

 

 

 

 

Powers Investments Management, LLC

This blog will provide, information and simple strategies, that will assist you to achieve YOUR financial objectives and long term targets. For over 30 years, I solved multi-million dollar problems, for Fortune 10-250, companies. My formal education includes: Business, Finance and Chemical Engineering {Problem Solving} at: Harvard, Rutgers and North Carolina State. And an additional 30+ years, managing my family’s investment decisions. I currently manage/advise people with net-worths ranging from the tens of thousands to several million dollars.

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