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Blacks Optimistic about Finances

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Despite the heavy debt burden, Blacks still managed to increase their level of spending at a faster pace than all other racial groups.

Despite the heavy debt burden, Blacks still managed to increase their level of spending at a faster pace than all other racial groups.

By Freddie Allen

NNPA Washington Correspondent

WASHINGTON (NNPA) –  Members of the Black middle class are more optimistic about their finances than they were a year ago, according to a recent study by the research arm of Prudential Financial Inc.,

Prudential surveyed more than 1100 Blacks on a wide range of financial topics in March. The survey participants ranged in ages between 25 and 70, with a household income of $25,000 or more with “some involvement in household financial decisions.” Fifty-one percent were married and 41 percent had 1-2 children. Thirty-five percent had some college experience, while 33 percent finished high school or less.

“The study shows increasing economic power and an emerging middle class within the community,” Charles Lowrey, Prudential’s chief operating officer, U.S. Businesses said in a press release. “Approximately 4 in 10 households surveyed have annual incomes of at least $75,000, and nearly a quarter earn $100,000 or more. Half of African Americans surveyed said they feel better off financially than a year ago, while only 19 percent say they feel worse.”

The study also reported that nearly two-thirds of Blacks surveyed “feel better off financially than their parents,” but economic optimism is often held in the eye of the beholder.

“How you feel about your situation doesn’t say much, except that you feel good about it,” said Steven Pitts, a labor economist at the University of California at Berkeley. “It has no value beyond that.”

Still, some economists point to the recovery of the housing market for the improved outlook, while others say that the positive financial outlook permeating the Black middle class has more to do with Black family living in the White House. As the Prudential study suggests, there are a number of factors that continue to contribute to the cautious optimism interwoven into the experience of Blacks in America.

“On one hand, we expect the best; on the other hand, we’re prepared for the worst,” said Julianne Malveaux, an economist and immediate past president of Bennett College for Women. “That’s how African Americans proceed with their finances; the better off you are the more likely you are to feel like everything is going to be okay, at the same time you know it may not be.”

 

James Clingman, author of the weekly syndicated newspaper column, Blackonomics, that focuses on economic empowerment in the Black community, said that the optimism expressed by the Black middle class was ironic given the dire financial straits of the Black community as a whole.

“I do see it as a paradox that we are the most optimistic group when it comes to the economy, yet we are doing the worst in the economy, collectively,” said James Clingman.

During the Great Recession, Blacks lost half of their collective wealth, largely due to the collapse of the housing market and the impact of predatory lending practices that plagued the Black community.

Blacks also suffer the worst rate of unemployment. On Friday, the Labor Department reported that the unemployment rate for Blacks rose from 13.2 percent in April to 13.5 percent in May. The jobless rate for Whites remained unchanged at 6.7 percent. Instead of improving with the first Black president, the unemployment rate for Blacks actually got worst.

“The president is not going to provide any jobs to anyone,” said Clingman. “So it’s too much emotion and sensitivity on our part as Black people tied up in the fact that we have a Black president.”

The Prudential study reported that, “One-third of African Americans are financially supporting children under 18 or grandchildren, and 9% are supporting parents or grand­parents – both higher than the general population (25% and 4%, respectively).”

Paying off debts, having enough money to weather emergencies, and supporting children often dominated the list of financial priorities held by Blacks in the survey.

Malveaux said that juggling those priorities is often a unique experience for Blacks, and it’s not as common in the general population.

“Your children are in debt your mom doesn’t have the social security she needs so you’re basically being pulled between the past and the future that’s the juggling you have,” said Malveaux. “The Black middle class is being pulled in many different directions, so it’s unreasonable to compare them to similarly situated Whites.

These debt priorities have stifled the ability of Blacks to grow wealth for generations.

“African Americans are significantly more likely to have some type of debt (94%) compared to the general population (82%). Credit card, student loan and personal debt are all significantly higher in the African American,” stated the Prudential report.

Despite the heavy debt burden, Blacks still managed to increase their level of spending at a faster pace than all other racial groups.

According to the Selig Center for Economic Growth at the University of Georgia, “African American buying power will increase 73 percent between 2000 and 2012, which not only overtakes the 60 percent increase in Caucasian buying power, but also the 67 percent rise in total buying power of all races combined.”

 

In 2012, Nielsen’s research and information company projected that African American buying power would reach $1.1 trillion by 2015.

Even though researchers tout Black buying power as significant evidence of improving economic opportunities and strength in Black community, some economists question the value of the emerging Black middle class and higher incomes without the solidarity needed to have real socioeconomic impacts.

“Individuals have money communities don’t,” said Pitts. “The capacity to use that money for some larger social good requires some sense of cohesiveness. It can come from the outside world, or it can come from some incredible sense of solidarity or some combination.”

Pitts said that harnessing “Black buying power” is more challenging than most studies of the phenomenon suggest.

“The question is how do you take the spending power of individuals and forge that into a collective hammer. The capacity to do that is not self-evident,” said Pitts. “My fear is always that the factoid is put out there in a way to try to provide an unnuanced [sic] way of going forward or a way of criticizing the communities for not doing better. I just think the world is more complicated.”

Not so complicated, is the fact that the money rarely stays in the community where it’s spent for very long.

“It’s going to people that don’t live in our neighborhoods, it’s going to people that don’t invest in our neighborhoods, it’s going to people that are not even interested in our progress. It’s going away from us. It’s not circulating among our people,” said Clingman. “How can you have a trillion dollars in income and not be better of than we are?”

Clingman said that it’s going to take collective compassion for the collective buying power to translate into economic progress in the Black community.

“We need more trust, respect, and love for one another. That sounds flowery and gushy, but that’s a very real issue among our people,” he said. “If we don’t have that, we’re not going to be willing to make the requisite sacrifices to move ourselves forward, collectively.”

Freddie Allen is the Editor-In-Chief of the NNPA Newswire and BlackPressUSA.com. Focused on Black people stuff, positively. You should follow Freddie on Twitter and Instagram @freddieallenjr.

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Oakland Mayor Reads to Children at Bookout Block Party at Marcus Books Store

Booths lined the street with arts and crafts, and children participated in hands-on art projects. A large display of books was on display and each child chose his/her free book to take home. Food and snacks were available, and free water was encouraged to keep all hydrated.

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(L.to R.) Cherysse Calhoun and Blanche Richardson of Marcus Books join Oakland Mayor Barbara Lee with Indya McGuffin and Bean Tupou of Storyland Collective inside the store on Sept. 12. Courtesy photo.
(L.to R.) Cherysse Calhoun and Blanche Richardson of Marcus Books join Oakland Mayor Barbara Lee with Indya McGuffin and Bean Tupou of Storyland Collective inside the store on Sept. 12. Courtesy photo.

Floating bubbles greeted families on arrival at the Bookout Block Party held on Sat. Sept. 12 at 39th and MLK Blvd. in Oakland.

Sponsored by Marcus Books and Storyland Collective, a wonderland of activity for children stretched to Longfellow School while live music filled the air, courtesy of KWC Complex Jazz Group.

Booths lined the street with arts and crafts, and children participated in hands-on art projects. A large display of books was on display and each child chose his/her free book to take home. Food and snacks were available, and free water was encouraged to keep all hydrated.

A large area of turf was filled with huge bean bags for jumping, rolling, and sitting to listen as families crowded close to listen to Oakland Mayor Barbara Mayor Barbara Lee read a book out loud.

Of the numerous booths present were, “Claim Your Scholarship,” a program for Oakland Public School students and “VOLUNTEER NOW,” a program encouraging volunteers to help boost reading proficiency. Individuals sold their art and products. Free gifts were at many tables and a raffle was held.

The event with Marcus books culminated a summer-long program organized by Storyland Collective, a literacy arts organization bringing children’s ‘storytime,’ local authors, and art activities to Bay Area neighborhoods. Marcus Books is the oldest, independent Black-owned book store in the U.S., featuring books by and about Black people here and abroad.

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Black History

Tradition Comes to the Streets in 11th Annual Black-Eyed Pea Festival at the Freedom Farmers Market

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(L. to R.) Black-Eyed Pea Festival Director Wanda Ravernell with Barbara Lee and Winky Binky Dogs owner, Tyranny. Courtesy photo.
(L. to R.) Black-Eyed Pea Festival Director Wanda Ravernell with Barbara Lee and Winky Binky Dogs owner, Tyranny. Courtesy photo.

Mayor Barbara Lee stops by to support vendors, Winky Dinky Dogs owner Tyranny Allen

A streamlined Oakland Black-Eyed Pea Festival took place on Sat. Sept. 12 in the lower Temescal neighborhood on the blocked off street that connect Shattuck and Telegraph avenues.

An early start brought together vendor regulars from festival partner, the Freedom Farmers’ Market, and vendors who have supported the festival at its previous location at Marston Campbell Park.

Wanda Ravernell, the festival producer/director was on the verge of cancelling the festival because of funding limitations in May before reaching out to Elaine Smith, president of Farms to grow, Inc., which supervisors the market.

From its start in 2014, the festival has focused on the traditions of African American culture through music, food and art. That emphasis included fresh food vendors, particularly growers of African American legacy crops like black-eyed peas, yams, watermelon, collard greens and okra, which all originate in Africa.

To Fresno farmer Will Scott of Scott Family Farms, the Freedom Farmers’ Market allows him to bring those crops to the inner city – and support the nutrition of African Americans.

Shortly after the festival opened Saturday morning with prayers and salutes to the ancestors by Wakan Wiya Two-Spirit Drum and Awon Ohun Omnira, led M. Zamora and Otobaji Stewart respectively, 86-year-old Scott, the son of a sharecropper, announced that he will put other endeavors aside to dedicate the rest of his life to raise those foods.

Smith shared that Farms to Grow assists Black farmers in helping them overcome one of their main impediments to success – distribution – while creating alliances to help Black people maintain farmland and make it prosperous for younger generations to keep farming and farmland in the family.

As the morning progressed to afternoon, a steady stream of visitors drifted from booth to booth, chatting with vendors and each other.

Scott noted that a market day like this was what he was accustomed to in his youth, where the market was not just about buying things but also a place for valuable social exchange.

The social aspect became even pronounced shortly after midday when Oakland Mayor Barbara Lee stopped by to shop and visit with some of the vendors, including Ellen Bimpeh of Sankofa, and Ravernell who was selling T-shirts designed by Stewart.

Lee is also a fan of Winky Dinky Dogs, an eatery owned by Tyranny Allen whose second brick-and-mortar venture further anchors a hub of businesses at that corner.

As he has in previous years, Andre Thierry of Accordion Soul, closed the festival with a 90-minute set that brought young and the young-at-heart on their feet to dance in a line or as impromptu couples.

And, surprisingly, the man Allen refers to as the mayor of 45th Street, came out on cane and chair to sit by the curb in the sun and listen to music reminiscent of his Louisiana roots. His appearance seemed to echo Scott’s observance about the market: to bring people together.

The Freedom Farmers’ Market is located at 4521 Telegraph Avenue in Oakland and is open on the second and fourth Saturdays of each month until Nov. 14. For more information and to apply to be a vendor, go to https://www.farmstogrow.org/freedomfarmersmarket

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Black Press

Attorney General Rob Bonta Continues Opposition to President Trump’s Tariff Regime

“President Trump is so intent on raising the cost of living for Americans that he is willing to break law after law to continue his tariff regime,” said Bonta.

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Calif. Attorney General Rob Bonta. Courtesy photo.
Calif. Attorney General Rob Bonta. Courtesy photo.

California Attorney General Rob Bonta, as part of a coalition of 25 states, filed an amicus brief in the Court of International Trade in Learning Resources v. Trump, a case challenging President Trump’s latest “unlawful” attempt to tax the states and American consumers through illegal tariffs, according to a media release issued by the California Department of Justice.

In the brief, Bonta argues the latest round of tariffs levied under Section 301 of the Trade Act of 1974 are pretextual and are not targeted to address the purported harms of forced labor, as that statute requires, but instead are designed to re-create the tariffs already declared illegal by various courts.

Last month, Bonta and the coalition filed a lawsuit challenging the administration’s decision to impose these tariffs on over 80 countries that together account for 99.4% of all U.S. imports — costs that will be passed along to Americans already struggling with affordability.

“President Trump is so intent on raising the cost of living for Americans that he is willing to break law after law to continue his tariff regime,” said Bonta.

“Imposing these tariffs under Section 301 has nothing to do with forced labor and everything to do with continuing the President’s failed economic policy and reimposing the global tariffs that the Supreme Court invalidated,” he continued.

“We urge the Court of International Trade to declare the president’s tariffs under Section 301 illegal. Tariffs are taxes, and the American people cannot and should not shoulder the extra costs that come from the president’s illegal tariffs.” 

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Black Press

Oakland Launches Aerbits Program to Identify, Report Abandoned Trash

“Aerbits, which was approved by the Privacy Advisory Commission, uses modern technology and best practices to help our crews clear trash faster and more efficiently, while our targeted outreach and enforcement strategies address the root causes of dumping. Together, we are going to get the job done.”

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Aerbits founder Brian Johnson(left) and OaklandMayor Barbara Lee launch Aerbits in Oakland.
Aerbits founder Brian Johnson(left) and OaklandMayor Barbara Lee launch Aerbits in Oakland.

On Tuesday, the City of Oakland launched Aerbits, an innovative new program that deploys AI-assisted aerial imaging technology to proactively detect and report abandoned trash on streets and sidewalks – to support timely and effective removal of illegal dumping.

By shifting from a reactive, complaint-based system to data-driven proactive detection, the City can deploy cleanup resources faster, more efficiently, and more equitably to the areas in greatest need. 

Approved by both the Privacy Advisory Commission and the Oakland City Council, Aerbits is the latest addition to Oakland’s comprehensive strategy to eliminate illegal dumping from the Town.

“Oakland residents and businesses deserve clean streets and today we are one step closer to a safer, cleaner, and greener Oakland,” said Mayor Barbara Lee. “Our strategy strengthens eradication, education, and enforcement efforts across every neighborhood.

“Aerbits, which was approved by the Privacy Advisory Commission, uses modern technology and best practices to help our crews clear trash faster and more efficiently, while our targeted outreach and enforcement strategies address the root causes of dumping. Together, we are going to get the job done.”

The impacts of illegal dumping on Oakland are profound, disproportionately burdening historically disinvested communities while threatening public health, safety, and economic vitality.

The City is united in taking action to remedy it – with the mayor, Council, administration, Public Works Department, community groups and more coming together to make change.

In May, the City Council approved the Illegal Dumping Expenditures Action Plan, which approves and funds multiple actions – including Aerbits – to help remedy illegal dumping.

This past June, Oakland secured $9.2 million from the Crankstart Foundation to scale up operations like Aerbits and break the cycle of illegal dumping across Oakland.

The Aerbits aerial imaging system photographs public rights-of-way to pinpoint exact locations, estimate waste volumes, and classify types of debris. This enables City dispatchers to understand the problem and efficiently deploy the appropriate crew and equipment to each site.

Built with privacy at its core, the technology contains no facial recognition, no license plate readers, and uses no personally identifying information. Aerbits takes pictures of trash – not of people.

“I founded Aerbits because I saw a major gap in the data that was available to City crews on the streets, and I wanted our children to have a cleaner environment” said Aerbits Founder Brian Johnson.

“Aerbits enables cleanups to be timelier, more effective, and more equitable. By providing real-time comprehensive data, automating the creation of work orders, and improving closure of cleared tickets, we are removing the problems that occur when relying primarily on a complaint-based system,” he said.

Aerbits is the latest milestone in the series of actions the City is taking to implement the City Council-approved Illegal Dumping Expenditures Action Plan. Recent actions taken by the City include:

  • Stricter Enforcement: Enacted a new Illegal Dumping Enforcement Ordinance increasing penalties and holding vehicle owners responsible; hired additional Environmental Enforcement Officers equipped with updated citation technology; and worked alongside State Senator Jesse Arreguin on legislation that allows the City to boot vehicles tied to repeat dumping offences. 
  • Community Resources: Reinstated the popular “Bulky Block Parties” offering residents free, convenient ways to get rid of bulky waste, alongside expanded public education campaigns.  
  • Expanded Fleet Equipment: Obtained new heavy-duty Lightning Loader trucks that allow us to clean up more volumes of debris faster than ever before. 

Rebecca Kaplan is a former City Councilmember-at-large for the City of Oakland.

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Black Press

Mayor Lee Announces $1 Million Kaiser Permanente Grant for Pilot Program to Address Homelessness, Clean Up Public Spaces throughout Oakland

Achieving these goals requires unified City operations backed by new philanthropic and private sector investments. With Kaiser Permanente’s support, this project brings together the Mayor’s office, City Administrator’s office, Office of Homelessness Solutions, Housing and Community Development, Human Services, and Economic and Workforce Development.

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iStockphoto / NNPA.

Innovative initiative combines employment, housing support, job training, and case management to create permanent pathways out of homelessness

Mayor Barbara Lee announced on Tuesday a $1 million grant from a Kaiser Permanente fund at the East Bay Community Foundation to launch the Workforce Development and Interim Housing Pilot Project. The initiative combines low-barrier employment with housing support to strengthen Oakland’s homelessness response while cleaning public spaces throughout the city.

Grant funding provides recipients with:

  • Part-time paid work focused on citywide sanitation and trash clean up, with pathways to permanent, full-time employment
  • One year of interim housing support
  • Comprehensive job training and wrap-around supportive services
  • Tailored case management designed to transition participants into permanent housing

“This pilot program gives us an essential tool to drive change for all of our neighbors affected by homelessness, including our Black and African American population who are disproportionately impacted,” said Lee.

Data show that having a job is critical to housing stability and preventing homelessness. This pilot provides unhoused residents with job opportunities that keep public spaces throughout the City clean, directly supporting the mayor’s goal to reduce unsheltered homelessness in Oakland by 50%.

Achieving these goals requires unified City operations backed by new philanthropic and private sector investments. With Kaiser Permanente’s support, this project brings together the Mayor’s office, City Administrator’s office, Office of Homelessness Solutions, Housing and Community Development, Human Services, and Economic and Workforce Development.

The pilot is modeled after a similar program in Portland, Oregon, that offers low-barrier employment in sanitation services and housing support to people experiencing homelessness. Program results include a high percentage of participants moving to temporary or permanent housing and cleaner public spaces.

“We’re proud to support this innovative project because it creates meaningful opportunities for people experiencing homelessness while strengthening the health and vitality of the entire Oakland community,” said Yvette Radford, vice president of external and community affairs for Kaiser Permanente Northern California. “By providing job training, paid employment, supportive services, and a pathway to stable housing, this program offers people the tools to move forward with dignity and hope—while creating cleaner, safer, and healthier public spaces for everyone.”

The Communications Department of the Oakland Mayor’s office is the source of this report.

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Black Press

Event Preview: ‘Fashion v. Fascism’ – A Runway Revolution Is Coming to the Bay Area

“Fashion v. Fascism” (FVF) is an upcoming visually immersive event combining fashion, music, and political theater to expose the rise of fascism in the U.S. and advocate for resistance. Described as a live “runway revolution,” FVF premieres October 3 at The Rotunda in downtown Oakland. The event will feature five runway collections spotlighting elements of contemporary fascist politics, accompanied by political theater and live music, culminating in a call to action. Organizers state that culture is a potent defense when democracy is under siege. Read more to learn about this unique event.

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Designer Rickie Lee. Courtesy image.
Designer Rickie Lee. Courtesy image.

“Fashion vs. Fascism” (FVF) is a visually immersive evening of fashion, music and political theater exposing the rise of fascism in the U.S. and the need to resist. Democracy is under siege, and culture is one of our most potent defenses, organizers say.

Called a live “runway revolution,” FvF premieres Oct. 3 at The Rotunda, 300 Frank Ogawa Plaza in downtown Oakland.

A play that is part fashion show, part protest, part performance art, FvF stages five runway collections spotlighting the pillars of contemporary fascist politics and the urgent need to resist: the myth of a “glorious past,” the manufactured emergencies used to justify surveillance and crackdowns, and the oligarchs and grifters profiting from it all. Runway fashion shares the stage with political theater and live music, with a closing call to action.

“We need lawsuits, ballots and mass protests, but none of it lands if we’re not also fighting for people’s imagination,” says Linda Burnham, co-producer of the show. “People are exhausted and scared. FvF will expose the absurdities of fascist mythology and ideology in ways a news headline cannot and spark new ideas about how to resist.”

“Fascism doesn’t win by policy alone. It wins by telling a story. A myth about a ‘Golden Age.’ A permanent emergency that makes cruelty seem necessary. That’s not an accident, it’s a strategy, and it works on the same terrain as culture: image, spectacle, emotion,” says Aya De León, the show’s playwright.

“Every piece on this runway translates what is happening under fascism into a feeling,” explains Erica Furlong, the FVF creative director. “One designer’s trench coat is covered in pockets stamped ‘TRUTH,’ ‘MEMORY,’ ‘HOPE,’ ‘VOTE,’ ‘FUTURE,’ because that’s literally what gets seized first, pocket by pocket, under fascist decline. Fashion can hold grief and hope in the same silhouette, and that tension is exactly what this moment needs.”

At its best, fashion is about creativity, diversity, innovation, experimentation and the free exchange of ideas. Fascism, by contrast, demands conformity and control, while suppressing dissent.

FVF was created, organizers say, because democracy should always be in style.

Featured designers include Erica Varize, Rickie Lee, Tianna Charity, Julie Wong, and Maria Flores. The evening features a script by lead playwright Aya De León, musical performances by Mindeullae Project and DJ Emancipation, and other special guests.

FvF is designed to travel. Following the Oakland premiere, FvF will extend its reach through a documentary short, a curriculum on contemporary fascism in the U.S., and a full replication playbook — design templates, script, and curriculum — so organizers in other cities can stage their own version of the show.

Get more details at www.fashionvfascism.org.

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