The Conservative Party of Canada and the United States Republican
Party are both White institutions, specifically WASP as most non-Anglo
White people such as Italians, Greeks, Portuguese, French, ect;
also vote Liberal or Democrat. Anglo-Saxon Conservative Capitalism
will soon not have enough votes
to even get elected anymore.
-Robert James (Auld Bob) Peffers
Capitalism Crucifying Americans of Color
By Joe
The Black Commentator has a good piece on the Bush Depression that has
already hit hard many Americans of color. This is the black and Latino
situation, which has many elite white male capitalists
as the ultimate creators of it:
Unemployment now stands at 13.3 percent among African American – 15.4
percent for black men. There were 124,000 fewer black people at work
in March than in February. Hispanic workers’ unemployment was 11.4
percent last month, up from 7.0 percent a year ago. The rate for white
job seekers stood at 7.9 percent in March, up from 4.5 percent a year
ago.
These are gross underestimates of unemployment since the government
under top capitalists’ pressure leaves out people who have given up
looking for work, or who want full time work but can only find part
time work. Capitalism’s catastrophic failures can also be seen in many
other areas:
Unemployment is not the only area where capitalism’s current crisis is
battering African American individuals and families. Taken as a whole
black people are getting poorer as a result of developments over which
they have no control. The mortgage crisis has hit especially hard with
housing foreclosures reducing economic assets that people had worked
hard to acquire and was key to their plans for the future. African
American median family income has actually declined over the past
decade.
United for a Fair Economy has a good report by Amaad Rivera, Jeannette
Huezo, Christina Kasica, and Dedrick Muhammad on how dire this
situation is, with related data on the “silent depression”:
Many American Blacks today are already experiencing a silent economic
depression that, in terms of unemployment, equals or exceeds the Great
Depression of 1929. Almost 12% of Blacks are unemployed; this is
expected to increase to nearly 20% by 2010. Among young Black males
aged 16-19, the unemployment rate is 32.8%, while their white
counterparts are at 18.3%. Overall, 24% of Blacks and 21% of Latinos
are in poverty, versus 8% of whites. In the corporate world, we are
seeing the highest executive pay and the biggest bailouts in history.
CEO pay is 344 times that of the average worker.* The riches of the
few mask the deepening recession in the working class and the
depression in communities of color. Extreme economic inequality (which
the U.S. experienced in the 1920s and is again experiencing now) is
often a key indicator of recession and/or depression.
The Black Commentator article also notes the international impact:
The situation facing African Americans and other people of color in
the U.S. has a global corollary. The policies carried out by the major
industrialized countries amid the expanded process of globalization
have for decades increased the inequities both between and within many
countries.
http://www.racismreview.com/blog/2009/04/19/capitalism-crucifying-americans-of-color