Why Africans remain at the bottom in America (5)
By Edema Tosan
We continue with our review of the circumstances that led to people of African descent being pushed to the bottom of the ladder in America…
1790-1845: Let’s fast forward on the mathematics of the African condition in America as the above saga continued, unhinged and unmitigated. By now both original slave owner and slave descendants are now in triple digits. But the difference is that both worlds are far apart. While the slave owner’s descendants continue to benefit from the original sin financially, socio-economically with more illegal laws to protect their interests and abnormal edge in this capitalist society, the opposite can be said of the slaves descendants such as is the case with the enacted 3/5ths legislative initiative simply designed to further curtail any achievements or advancement gained by slaves and their descendants. Slaves and their descendants paid a heavy price via blood, sweat and tears for defying some of the illegal inhumane legislations.
At this point, the slave descendants cannot apply for loans like the slave owners descendants, a few of the slave descendants that got substandard market loans had very high interest rates which had the net result of triggering ultimate failure just like is the case with the current day credit score and credit ratings that seem to have been designed to further stiffen poor folks from making the much needed advancement like obtains with the use of police radar entrapment mechanisms.
In fact, let’s take our review of this practice one step further. The credit score rating system punishes poor and struggling folks with higher interest rates and illegal penalties (mostly poor people-slave descendants) and vice versa rewards the rich with lower interest rates and services (and these mostly happen to be slave owners descendants).
To compound this saga, stock markets were created to further deprive the poor (slave descendants) and enrich the rich (slave owners descendants) under the pretense of capitalism. A true capitalist society would open up for all to compete regardless of their socio-economical status or means and not just those of a few. It is very obvious that capitalism in the USA is comparable to cycles of rigged elections system in poor or developing countries. An example of this is the last time the USA economy suffered the housing bubble/meltdown. Most of the people that benefitted from and had indeed caused the bubble got off free. At the same time, the poor and average folks (mostly African slave descendants) suffered the loss of their homes and some actually lost their lives. Yet, like we already know when someone is losing in American capitalist society; another person is benefitting from that person’s loss. Most of those who benefited from the above are 99% slave owners descendants and that was simply because they had the accumulated wealth built-in advantages that had come along with this state of generational disjuncture.
Mr. Joe Biden, projected President of the United States