Occupy the hood: A black perspective on occupy wallstreet By modestoam | Posted 20 hours ago | greenville, South Carolina
The Black population in the United States makes up only 12.6% of the total population, but according to the latest polls, blacks only make up 1.6% of the occupy movement. Blacks have been hit harder than any other ethnic group during this recession. The latest Pew research poll shows that blacks lost 53% of wealth during the economic collapse of 2007, housing is the main culprit behind teh economic collapse.
Blacks are more dependent on home ownership as a means of equity compared to the various means of equity that their white counterparts have; in stocks, retirement accounts, and 401k's. Blacks were also more likely to be targeted for sub-prime home loans that, in some cases and at some banks, were specifically called "Ghetto loans". These "ghetto loans" targeted black people because they were pitched at black churches under the guise of being "wealth building seminars". Even with this said, the black community has been relatively silent when it comes to speaking out against the very same banks and corporations that are responsible for their monetary collapse.
There are many reasons for the black communities lack of response to the backlash against corporations and banks. The disparaging gap in employment has crippled the black community. Unemployment in the black community is at an all time high of 20% with youth unemployment being 45.6%.While white people are occupying wallstreet black people are looking, to no avail, for jobs and a source of income. The second reason that blacks have been silent in the occupy movement is because of a feeling of being unable to identify. Blacks feel like they cant identify with a movement that they think won't get anywhere or accomplish anything for them, to the contrary it has accomplished a lot, it has showed the world what people united can accomplish and how governments can hear the voices of the people.
In conclusion it is expedient for blacks to occupy because we are the ones most negatively affected by policies, bailouts and recessions. We are tax payers also and we should show concern for what goes on in our government regardless of whether we feel it will affect us or not and lastly we should stand up to the injustice that effects our fellow man whether he has the same color or not.