Since the unraveling of the U.S. economy you hear many people shouting from the rooftops “I want my country back”. At the gist of this statement is a need to capture the greatness of a previous moment in U.S. history that was for the betterment of the individual. As many would say, “the good ole days”. For many, the current economic and political environment has created a lot of uncertainty in their lives. However, I have a couple issues with this statement. First off, who are the individuals who want to go back in time? Second, how far back would they like to go? Third, who do they feel took the country from them? Fourth, where do they live? Five, what is their current economic level? Six, what was their current economic level at the time they would like to go back to? If you posed this question to a million people you would probably get a million types of answers.

A lot of people in this U.S. have had their heads in the sand for a while (On certain things I can include myself in this category). To be honest, I have been part of the problem in one way or another, so these criticisms are not only leveled at others, but also myself. We have now become so delusional and desperate for an economic antidote that recent polls show that 36% of Americans wish for the economic policies of Ronald Reagan. I would like to know who these people are, but that’s quite a considerable number knowing the “Gipper’s” economic policies were pretty disastrous. Although many have debunked the merits of the “Reagan Revolution”, many romantic nostalgists just won’t let go. That’s not to say there weren’t people who benefited from the policies of Reagan, but collectively his policies were a disaster. Just ask former budget Director David Stockman on how ‘wonderful” the economic Reagan era was.

The disruptive social and economic “bullet” was fired decades ago. Let’s paint a picture. Just imagine millions, maybe even billions of people lined up after one another. An individual fires a bullet (economic instability and social disruption) from a gun. When you get hit with that bullet it’s economic anarchy for you. In that same line, many folks were, lets say number 10267 to get fired upon. Some were even in the hundredth and millionth or billionth.  If you were towards the back of the line it wasn’t your problem because  33,  672, 45976, 273192, 834165, 5938200242 are getting socially and economically “murked” way before you. Many even thought, “oh it will never get to me” or even “Maybe the bullet will lose its momentum and velocity” before it gets to me. Or maybe in denial about the destruction of the bullet, “Maybe the bullet won’t hurt when it gets to me”. Maybe they felt it was someone else’s problem.

Now that the bullet is racing forward and it’s, as O.C. said, “Times Up“, people are clamoring around for answers as to what happened.  Of course it would be “nice” to go back in time when the bullet wasn’t so close to home. The net of economic disruption had already been cast. Now that person is in the net with everyone else.

This reminds me of the Columbine father that said the following:

I am here today because my son Daniel would want me to be here today. If my son Daniel was not one of the victims, he would be here with me today. Something is wrong in this country when a child can grab a gun, grab a gun so easily, and shoot a bullet into the middle of a child’s face, as my son experienced. Something is wrong. But the time has come to come to understand that a Tech-9 semi-automatic -bullet weapon like that, that killed my son, is not used to kill deer. It has no useful purpose. It is time to address this problem.

It’s sad to see any father lose their son to such horrific violence, but at the time, we had already reached the tipping point where guns were in the hands of our youth. The carnage has now reached “everyones” doorstep, but many doorsteps have already been visited by gun violence. The anarchy is now more widespread. Now that we have shared economic grief, we are harking back to the “good ole days”. Keep in mind that there were many before you that have been living with these wounds, but your wounds are now fresh.

I remember a discussion I had with a close family member in the mid 90s and we were talking about the gang violence that had been prevalent in a neighborhood right next to ours. The town was Roosevelt, Long Island in New York. At the time the Bloods and Crips had made significant inroads into the neighborhood. We lived in Uniondale, about a stones throw away. The conversation went something like this:

Me: Wow, we really need to do something about this gang violence. A lot people getting killed in Roosevelt
Family Member: Well that’s Roosevelt, you know how THEY are
Me: Hmmm…well what happens when the gangs come to Uniondale?
Family Member: No, that won’t happen. This is Uniondale, gangs don’t come to Uniondale
Me: I don’t think so. If we don’t take care of the surrounding communities around us, we are definitely going to have gangs here
Family Member: [blank stare]

As expected, the Bloods and the Crips made their way into Uniondale and although the degree of our gang problem was lesser than Roosevelt, we still had people getting shot over gang violence and whatnot. In short, when the economic plane goes down it won’t matter that you paid $5000 dollars for your first-class ticket. Irrespective of your seating arrangement, we are all going down. It’s just a matter of who hits the ground first.

In September 2009 I wrote a post about learning the roots of the 2008 Financial Crisis. It really gets to the crux of why I was compelled to go on somewhat of an economic “expedition” to find out what went wrong with the U.S. economic system in 2008. Prior to the crisis there I wasn’t aware of any body of economic work that intelligently outlined the causes (not just the symptoms) of the financial crisis than the Austrian School of Economics. As I’ve said in earlier posts, I truly believe that the Austrian Business Cycle Theory (ABCT) is by far one of the most complete descriptions of the “science”, if you will, of economic booms and busts. In addition to the ABCT, I believe that the Austrians have a way of interweaving a healthy amount of skepticism when it relates to the government intervening in the broader economy.

Unfortunately many other economic disciplines make wild assumptions, often very overly optimistic assumptions about the value of government intervention. At the same time, I have my own skepticism on the benefits of a 100% Libertarian approach to our social and political problems, but they clearly have the right pulse on many of the causes of how financial markets and economic incentives can be distorted by “well intentioned” governments. Private corporations don’t get off the hook, but in the context of the financial crisis, they worked in tandem with the government to completely destroy the economy.

I want to make a couple of points:

1. Be an economic policy skeptic. All policy isn’t created equal. As a matter of fact, many of the policy “prescriptions” by the government were completely backward and financially destructive and/or these policies were instituted to benefit a few while impoverishing many.
2. Read some of the suggested resources below. As a matter fact, read as much economic policy as you can. Many times you’ll get to the “real” intentions behind a lot of these policies.
3. Your Congress is bought (Thank you Dylan Ratigan from MSNBC). Please watch the video below and make sure you listen to every single word. If it’s not clear after you watch this video that voting for these cronies is a waste of time, then just off yourself. Okay..that was a joke..don’t off yourself but really understand that depending on our “do nothing” Congress is a waste of time.
4. The only option left is civil disobedience. What I like to call “soft” anarchy. Be an active participant in the economy. Vote with your pocket. Our government was not always enslaved to corporate interests. This can be undone, but it’s going to take a lot more than marching, waving hands, and holding creatively snark protest signs in different cities. There’s trillions of dollars at stake and if a high level of creative destruction doesn’t take place by the people, then we are playing a very dangerous, albeit participatory charade of musical “armchair revolutionary” chairs. Instead of sitting at home or in a cafe we are sitting in the streets.

Books

• Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America by Matt Taibbi
• Greedy Bastards: How We Can Stop Corporate Communists, Banksters, and Other Vampires from Sucking America Dry by Dylan Ratigan
• Economics in One Lesson by Henry Hazlitt
• Road to Serfdom by F.A. Hayek
• The Return of Depression Economics and the Crisis of 2008 by Paul Krugman
• America’s Great Depression by Murray N. Rothbard
• Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse by Thomas E. Woods Jr. and Ron Paul

(AP Photo/Julie Jacobson)

At the root of every social movement is the will to change the present situation for something better. At the root of the Occupy Wall Street protest, which has now moved to other cities around the country, the intention of this movement is to unhook the almost parasitical tentacles of Wall Street from government policy (Washington). More on this here

I don’t believe ANY significant changes will happen via government policy or Washington’s intervention. Washington is an entity that is in the last stages of terminal “political” cancer. At the end of the day, this has to result in the banking firms that were responsible for this crisis to be reprimanded for their corporate malfeasance. We should reward (with our business) those financial institutions that are fiscally responsible, and move our money out of those financial institutions that contributed to the financial crisis.

I’m not convinced that the TBTF banks really understand what they did, nor does our government really care to prosecute these banks who irresponsibly unhinged the global economy for their narrow benefit.

So what we truly need to occupy, is our apathy. It’s our apathy and reluctance to being properly engaged in our political process that has contributed to Wall Street usurping power from the laymen and laywomen. In short, we kept our eye off the ball for too long. This corporate takeover has been happening for decades. Some would say it’s been happening since the inception of the Federal Reserve Bank. Regardless of when you think international banks started unsettling our political process, we are clearly at a tipping point where banks have complete control over our political process.

My suggestion is we engage in a bit of creative destruction to bring the balance of power back into the hands of where it belongs. the Proletariat and many of the hard working people of America (and around the world) who watched their jobs, wealth, financial security and personal livelihood go up in flames by the Wall Street, Federal Reserve Bank, Government-sponsored enterprise (GSE) doomsday machine.

We should start with the following approach:

1. Remove all your assets and loans (checking, savings, IRA, Mutual funds, Brokerage accounts, credit cards, car loans, mortgages, etc) from all banks that were given a bailout from the government.
2. Take all those assets/loans and transfer them to a credit union or firm that was not given a bailout.
3. Everyone who did the first 2 steps should draft a personal letter using their own words and explain to the banks/investment firms (who no longer have your business) why you removed all your money. In addition to that, explain why you moved your assets to the other bank/investment firm.

It’s time to transform our thoughts into action. Show these banks and our “absentee landlord” government that they cannot push our society to the edge of financial oblivion, while profiting off that same financial destruction.

A bank is a place that will lend you money if you can prove that you don’t need it. – Bob Hope

Related Links

This blog post below was a comment I posted from an article my wife shared on her Facebook wall. My boy Clarence, suggested I turn the comment into a blog post. The article, Black Unemployment Highest in 27 Years appeared on Roland Martin’s magazine/blog website. It seems like you have three typical responses when someone sees these type of “Blacks have a more destitute situation than __________ (insert race of choice here)” articles. The first response is “America is racist, ergo if there wasn’t racism we wouldn’t have such high unemployment”. The second response is, “Blacks are a bunch lazy fry chickin’ eating watermelon cologne wearing, hip hop lovin’, overspending, loud mouthin’ government lovin’, drag on the economy havin’ monkeys that are unemployable who will continue to be the last hired and the first fired.” The third response is, “Oh these ____________ (insert race of choice here) keep taking our jobs. They’ll take so much less to work ______________ job”.

These absurd responses don’t get us any closer to solutions. They are simple knee-jerk reactions to a long-standing problem. I have seen these types of “high unemployment among blacks” headlines since I graduated from college (and before college) and it’s getting worse. The technology shift was supposed to be our golden parachute into prosperity. Didn’t happen. Happen for some but not many and clearly not enough. I wish I finished my If I Had My Own Black Leadership Forum series, but I still have 2 parts left to do. If you’re interested in reading the first 3 parts, you can start here However, I give you My Thoughts on Black Unemployment.

There are no short turnarounds for the high black unemployment rate but at the root of our problems is a misallocation of economic resources. Whether you believe the misallocation of economic resources was driven by a bunch of klan sympathizing racists in corporate america (and the general workplace) and our political system or self inflicted by the black community, we are clearly dealing with a misallocation of economic resources in the black community. This situation has been going on since our “inclusion” into the main economy. Many of you have heard me say this before (and I’ll say it again):

The total GDP of the African-American community makes us the 13th largest economy in the world. That’s right, only 0.6% of planet earth (African Americans) represents the 13th largest economy in the world. The African American/Black Market profile from the Magazine Publishers of America has slated the purchasing power of African Americans to hit the 1 trillion dollar mark by 2012. How can the 13th largest economy in the world, have one of the highest unemployment rates in America? Umm..misallocation of economic resources. (I said it in my quiet e-typing-voice so you don’t get annoyed by me saying this a billion times. I might say it a couple more times)

There are only a few individuals that have actually outlined real solutions and they are the following:

• Powernomics: The National Plan to Empower Black America by Dr. Claud Anderson
• Black Lies, White Lies: The Truth According to Tony Brown by Tony Brown
• Blueprint for Black Power: A Moral, Political, and Economic Imperative for the Twenty-First Century by Amos N. Wilson
• The Entrepreneurial Secret To Starting a Business: Without A Bank Loan, Collateral or Revenue (Volumes 1, 2, 3) by Cedric Muhammad

Although I have huge issues with their past prejudice/religious theology, the other organization is the Nation of Islam. With all it’s past faults, prejudices, and warped theology, Message to the Blackman by Elijah Muhammad was the first book that had me thinking about how my income and productivity in the economy made other folks rich and not my local community. I repeat, the book’s religious theology is rife with shirk, misinformation, hatred and black supremacist theology. However, it’s economic prescriptions are 21st century. The book should be republished, minus the hatred. If I was part of the NOI, I would include a public apology in the introduction of the book.

If you look at many black media communication vehicles, including Black Enterprise mag and BET (Viacom), many of them [black owned or not] have never mentioned any of these individuals. If they mentioned them, there hasn’t been any real effort in promoting their ideas. The average black person has no idea who these individuals are. That is not a simple oversight. It’s intentional. Not in a conspiratorial way, but in a “these individuals will upset the apple cart” type of way. Unfortunately, Amos Wilson has passed on but his rich wealth of economic information lives on in his seminal work, Blueprint for Black Power. It might be tempting to dismiss many of these individuals as a bunch of black supremacist separatist who long for a day when the black seperation movement will transform itself into a 21st century authoritarian movement. No, this is a immature characterization of their intent and economic ideas. They were concerned with the flimsy social contract that America promised it’s black citizens and wanted to usher in a concrete economic platform which we could depend on with certainty. Clearly we are in uncertain times and the social contract that America had with it’s black citizens is gone.

If Black America studied these ideas in these books with vigor and dedication, I believe we can significantly lower black unemployment into the lower single digits in about 20-30 years while becoming a viable and powerful economic engine for growth. There are no easy answers. It’s going to take time, skill reallocation, and a lot of money from those wealthy black individuals to invest in this plan. The government and non-black corporations have already moved on. This is what many of the individuals I mentioned above were trying to say 50 years ago. There will come a time when African Americans will be completely on their own. No jobs programs, no social institutions, no nothing. So in short, they were saying we have to build our own institutions and local economies of scale because the “support window” is going to eventually close. Now that the American economy is in such disarray, its going into hardcore economic Darwinian mode.

Obama and any other government employee can do very little for the black community. His jobs bill cannot overturn hundreds of years of economic mismanagement and social degradation. The government and too many “black leaders” are absentee landlords, time to look within our own community for answers. If they had your back, you would of been out of this mess a long time ago. We are on our own.

If there is any one question that was asked (or implied) before I left, it was “Is it Safe?”. Some other more indirect rhetorical questions/responses sounds like this:

– Really? Wow (But like Wow, as in “He’s sending his family to the equivalent of Iraq)
– Are you sure? (translation: Are you sure you want to work in a war zone?)
– I’ve even had folks suggest that they fear being kidnapped or forced being wrapped in a burqa like Taco Bell wraps burritos. Just to be clear, I don’t have a problem with the burqa or the niqab or any other covering. Women have the freedom to wear what they want, but they shouldn’t be forced or unduly prohibited from wearing these types of coverings. For more information on this. go here.

I have no idea what other warped ideas swirl in people’s minds when you mention any country in the Middle East, but the ones above are the more obvious fears. At the same time I can’t be too hard on folks being that their main intention is concern for my safety. But like an over-protective parent can be for their children, some of this concern is grounded in a bit of fantasy, xenophobia and misinformation.

I do realize that there are a lot of revolutions/upheavals going on in the Middle East, but we have to be able to distinguish one county from another and one region from another. Yes the Arab Awakening (known in the states as the Arab Spring) is in full effect. Yes there are wars and civil wars going on in Iraq, but that doesn’t mean it’s happening all over the Middle East nor does it mean that these skirmishes have the potential to bleed everywhere in the Middle East or North Africa. I’m going to address two things in this post. The proximity of some of these skirmishes and some basic demographic data of Qatar.

Although there have been other incidents in Algeria, Jordan, Morocco, the main players in the Arab Awakening have been Tunisia, Egypt, Libya and Bahrain. Now keep in mind that the Arab Awakening is about reforming policy in the Middle East and North Africa. People are fighting for their right for freedom and the pursuit of happiness just like any American during the American Revolution. However, the whole entire region is not going up in smoke which might be the perception being that the MSM (Main Stream Media) presents just the conflicted areas of the Middle East without presenting the areas that are politically and economically stabilized.

So now to answer the million dollar or riyal question: Is it Safe?

Yes. It’s extremely safe. People leave their cars running while they hop inside and outside of stores. Yes gas is $1.00 a gallon and yes it’s really hot (people keep their cars running to keep the A/C on), but the safety is there. You guessed it, the country with the highest per capita income is Qatar and has been for the last 10 years. And can you take a wild guess which country has one of the lowest crime rates in the world? Um..Qatar again with a score of 1.0 while United States has a score of 5.0 and has a higher homicide rate that close in numbers to such countries as Yemen and Ukraine. Iraq, a U.S. occupied country, has a score of 7.3.

If you look at the 10 most dangerous cities you’ll be surprised by the cities that made the list. You can go here, here, and here. Although the list is different for each site (in regards to which city is the most violent), there are two American cities that make the list. Detroit has 43.7 murders per 100,000 and New Orleans has 52 per 100,000

If you take the distance between Qatar and Libya we are looking at a distance that reaches from New York to Las Vegas. [2233 miles] [show diagram]. If you take the distance between Qatar and Tunisia you are reaching a distance that almost spans the entire length of the United States of America.

Distance statistics:

• Distance between Qatar and Libya [2100 miles]
• Distance between Qatar and Tunisia [2500 miles]
• Distance between Qatar and Cairo, Egypt [1300 miles]
• Distance between Qatar and Bahgdhad, Iraq [680 miles]
• Distance between Qatar and Bahrain [70 miles]

Below you can click on the map below to get a sense of where Qatar is located and it’s proximity to other countries in the Middle East and North Africa. I specifically highlighted those countries that are tied to the Arab Awakening.

Now when so-called “super powers” share a list with such countries like Mogadishu, Somalia, Karachi, Pakistan and Baghdad, Iraq (650,000 civilians dead since 2003), Cape Town, South Africa (50 murders a day) in regards to the most violent cities, you have to wonder who is really safe? I do understand that the proximity of many of these awakenings or uprisings are probably closer than any one individual would like but I can assure you, I do not see burning tires and bellowing smoke from my window. I don’t hear gunfire and I don’t see a legion of militias driving banged up Nissans pickups with AK-47s. The only Nissans pick ups I see are from construction workers. The only thing that lights up the sky is the moon, not tracer fire from a machine gun. Notice that the only Middle Eastern country that made the most violent city list is Iraq and this is an occupied country. The countries violence is attributed to U.S. occupation and not necessarily something inherently violent in Iraq. Suicide bombing didn’t start until the 2003 invasion of Iraq. More on that that here.

It’s time to separate fact from fiction. Many people are doing themselves a disservice by limiting their world view to the border of the United States of America. Com’ on over to the Middle East where the sun is always shining and the diversity is as beautiful as the people who live here. I’m not here to spin away the problems from the region, but put some context and clarity as to what is going on in the Middle East and North Africa. In the next installment of Qatar Times, I’ll give a bit more detail about the people of Qatar and how our experience has been.

Bonus Infographic

If you want to get a sense of the size of the North Africa and Middle East, click on the image below. I’ve layered the United States of America over the map. The length of the United States is about 2900 miles across. Depending on where you are measuring it could be less or more. I tried to scale this as best I could. Enjoy!

This post was inspired by Langton Hughes’s A Dream Deferred.

Rather than go through the typical romanticization of our founders on July 4th while gushing over the 1st Amendment like a first born son, I’m going to write about some of the pressing issues of an America that has broken it’s promise with it’s citizens. Some contemporary patriots might scoff at me for suggesting such a thing, but my audience are for those who have been left behind, and not those how have fortunately benefited from the American fruits of liberty. Contrary to popular belief, everyone has not reached the promise land. Let me be careful with that last line. I’m not suggesting we start helicoptering pallets of money down to the masses. I’m suggesting that upward mobility is becoming more elusive and contrary to popular belief America does not have more mobility than other nations. In fact it has one of the lowest.

Some might say I’m being too hard on America and I should tone the “anti-patriotic” language down. When your country is at Defcon 1 in regards to social and economic issues, you have to ring the alarm to let everyone know that that we have a 10 alarm fire. Why should I save “patriotic” face when we are not living up to what this country has promised since the ratification of the Constitution? I see America as a country that is slowly losing it’s way. We hear a lot of lofty speeches from politicians, but when the citizens are asked to make hard choices we fall back to our ideological political camps.

Below you’ll find a video that is extremely telling in regards to the current economic shift that is happening globally. James Wolfensohn, former president of The World Bank and CEO of Wolfensohn and Co. does an eye-opening presentation for Stanford Graduate School of Business students on the coming global economic shift. In short, America and some of it’s Western compatriots are running out of time. It has debt to it’s eyeballs and waning political leverage on the global stage. It has financial obligations (Healthcare, Social Security, etc) that’s depressing it’s ability to leverage it’s internal resources. China, India, Africa and many other GCC countries are gobbling up global GDP faster than the cookie monster disintegrates cookies. If that wasn’t bad enough, we have a populace that does not have the 21st century education and skills needed to complete on a global scale.

Without further ado I give you James Wolfensohn, who asserts that in the next 40 years, a global power shift will see today’s leading economic countries drop from having 80% of the world’s income to 35%.

• Documentary: Citizen U.S.A.: A 50 State Road Trip
• Half of Americans say that they definitely or probably couldn’t come up with $2,000 in 30 days
• Van Jones Launches Movement To Rebuild The American Dream
• Think Again: American Decline by Gideon Rachman
• Busts Keep Getting Bigger and Bigger. Why? by Paul Krugman and Robin Wells

I’ve spent the last couple weeks cruising through the documentary Collapse on my IPhone. The documentary is on Michael Ruppert, a police officer turned independent reporter who predicted the current financial crisis in his self-published newsletter, From the Wilderness.

There is some pretty scary stuff in Collapse. Mr. Ruppert goes way beyond just fractional reserve banking, fiat currency and Federal Reserve monetary policy, but spends a substantial amount of time on the potential societal impacts for the human population because there are limited resources on planet earth.

This documentary serves more of reality check than another boilerplate conspiracy theory piece. As Mr. Ruppert so eloquently stated:

Of course I’ve been called a conspiracy theorist but I don’t deal in conspiracy theory, I deal with conspiracy fact

The audio above is by far some of the truest and honest reality check I’ve heard since Alan Moore’s Culture of Steam quote regarding the doubling of information.

Another other choice quote from the documentary so you know what we are dealing with:

If your in a camp with a bunch of campers, and a bear attacks, you don’t have to be faster than the bear. You only have to be faster than the slowest camper. – Michael C. Ruppert

Before i get started, I created the image on the left myself, but I jacked this idea from Cafe Press. Just want to give props to those who deserve it. Creative capital is just important. One other very important point. The intent of this post is not to shame anyone. These are ideas and resources that I have accumulated over the last 15 years of my life, and were extremely helpful in my personal development. My intention is to spread useful information. Okay, now lets get started.

Over the last 10 years of my life I have seen a slew of “Black Leadership Forums” (BLF) or Black Agenda Forums (BAF) come and go. By far the “Bentley” of BLFs has been Tavis Smiley’s State of the Black Union or Round table. Although there has been recent pull back as people from the black community have questioned the “intentions” of his forums, nevertheless it has been seen as the “Lets Find Out What’s Happening With Black Folk Nationally” forum in regards to economics, politics, and various social issues. Even MSNBC and CNN have jumped into the BLF frey with their forums and specials. Al Sharpton just had his BLF last year, and the NAACP had one in July of 2010. Nevertheless, I’ve watched most of these forums, often with hope and weariness.

The total GDP of the African-American community makes us the 13th largest economy in the world. That’s right, only 0.6% of planet earth (African Americans) represents the 13th largest economy in the world. The African American/Black Market profile from the Magazine Publishers of America has slated the purchasing power of African Americans to hit the 1 trillion dollar mark by 2012. Now that’s not to say that all is well, but we clearly have something to work with.

I will break up this post into 5 parts. My hope is that I will be able to finish this before the end of Black History Month 2011. The first part (what you are reading now) is an explanation of my intent and what topics my fictional BLF will contain. In the middle three parts I will explain the the 3 areas that I deem extremely critical to what I will call Black Reconstruction 2.0.. The last part will have resources to every piece of media (books and film) that’s related to this topic. In each area I will list a group of individuals that I believe are the thought leaders who can offer Ideas that lead to solving critical problems, instead of people who give lip service to ideas that go nowhere. These are critical thinkers who continue to think outside of the box while not falling into the “arrogant trap” of their own egos and personal accomplishments. Bless those individuals who taken the time, effort, and necessary sacrifices to live by the creed of “each one teach one” and “am I my brother’s keeper”. Often said by many, but seldom done.

So lets get down to the nitty-gritty on what would my BLF look like, who would be there and what my agenda would be?

To set the stage of my fictional BLF, I would not have a BLF until I actually owned the building where the conference/forum would happen. What is the point of giving lip service to “being independent”, where you have to pay others to have a conversation about “being independent”. In addition to that, the hotel and related eateries would have have to be owned by me. If this option was not financially feasible, I would have each speaker give a 1-2 hour explanation on the topic via video stream and providing resources (books, articles, websites, etc) that detail the presentation they just gave. I would more than likely opt for this virtual option, because asking people to fly all over the world and drive to your event is a waste of time, money and resources that can be better spent toward the actual conference itself. All these hotel fees, gas, food, and travel time is a waste. No audience, no grand standing, no ham-bonin’, and definitely no moon shinin’. Stop showing your teeth!. This is “straight up” information that you can use. Raw and uncut.

There are three sections to my BLF and they are following:

1. Don’t Believe the Hype. Healing comes first.
Without the proper spiritual and mental healing, the next 3 parts of this post won’t mean much. This is about cleaning the mind, body and soul of all the toxic psychological and lifestyle impurities that divert us from greatness. So many of us talk about being powerful and independent but forget about having the proper dignity, candor, and humanity about themselves and the world around them. Not to mention being extremely humble about our accomplishments and fortune. In this section I will have a select group of doctors (some) who I believe have experience in helping folks remove the self-hatred, spiritually deadening and self-defeating attitude that undermines our future. They are the following:

2. Use History as Guide to Help Your Present Situation
One of the biggest issues I see in our communities (not that these issues are exclusive to our communities) is an unwillingness to immerse ourselves in the necessary information to help us address our present problems. I have seen this at all class levels, from the poorest of the poor to the the so-called “talented 10th”. There are so many lessons from past events that serve as a guide for the future, that we often have circular conversations on problems that have already been solved. In this section the participants will give us a brief history in the following areas. Each speaker will be given 2 hours, then provide the necessary resources to help break-down their 2 hour presentation. Now some of the individuals I’ve mentioned have passed on, so I would play certain films and have a panel discussion after to talk about the film:

3. Talk is Cheap. Action Speaks Louder than Getting on Your Soapbox and Doing Absolutely Nothing
One thing I realize about people, is they like to talk. It’s so easy, just open your trap and stuff starts coming out. To be honest, if we got charged a financial penalty every time we said erroneous, propagandized, or unusable information you’d probably hear a couple thousand people talk on television around the globe. Unfortunately, we have a sea of information that does not maximize our spiritual or human capital. Most of it is junk-food nonsense that gets regurgitated over an over again. Like the way a fly eats it’s food. It has to take in food, vomit on it, then slurp it back up. Do you really want to eat like that? Well chances are, you are. They have repackaged, dyed it, seasoned it with fragrances, and sold you something that appears useful, but is as efficient as Ford Model T racing in the Indianapolis 500.

This last segment of my fictional BLF is very important. These individuals will give you the tools. You’ll actually get the hammers, and wrenches to get to work. The first two segments focus on actionable data. This segment focuses on the tools that you need to take advantage of that data. Although this list could reach well over a thousand, I have specifically picked these individuals based on their willingness to be prudent and forthright in their approach to business, socio-economic circumstances, and human enlightenment. Here is the group that would master this segment:

Well folks, that’s it. The following 3 parts will delve into why I believe that each of these individuals offers something that we can benefit from while explaining why they are experts for each segment. The last part (part 5) will be my conclusion on where we are at and where we are going. Look out for the next parts over the next couple of weeks.

Let me be frank, understanding economics (at least U.B.E.P Understanding the Big Economic Picture) takes a lot of reading, patience and a hellava lot of googling archaic economic vocabulary that on the surface seems to make absolutely no sense. However, once you are able to get past the mysterious language of economics and understand the context of this vocabulary U.B.E.P becomes more concrete and eventually you’ll get the “Ahah” moment.

So why am I so relentless when it comes to economic stuff? Well for starters, the economic policies of government have very deep impacts on the amount of money we take home. From taxes, to interest rates, money in circulation, to how much our government spends on certain mandates and a slew of other things that would probably give me carpal tunnel syndrome in my fingers if I attempted to write out all the thousands of circumstances.

Below are 3 books which I believe are good starters or as I like to say “launch pads” into more sophisticated economic fields of thought. I believe there are several critical areas that each of these books cover. One is macro-economics (understanding how the sum decisions from individuals, firms, and governments impact trends, incentives and movements in the broader economic market), then personal economics (how your behavior fits into the larger scheme of the broader economic market), and how maximizing your personal utility is by far one of the most productive acts you can do to make your skills scarce, hence increasing your value in the broader economic market. These 3 books are as simple as it gets. No fancy language, no crazy complex charts, and lots of objectivity to give us an untarnished and balanced perspective needed to tackle many economic issues that challenge us on a day-to-day basis.

Naked Economics: Undressing the Dismal Science by Charles Wheelan

What is there not to like about this book? So simple and concise minus the ideological hyperbole of free markets vs government. Naked Economics strips away all the fancy rhetoric and explains economics in a language that just about anyone can understand. Don’t be discouraged if you bump into something that sounds unfamiliar. A simple “googling” of the particular word or phrase will get you back on track and it’s extremely rare that you’ll run into this issue. The author wrote this book because he was tired of all the “ivory tower” economist explaining economics in such a drab and complex way. If these mainstream economist are the only ones who understand each other and not the general public, what is the point? This book will clear the fog of economic misunderstandings, not to mention it’s pretty darn funny.

The Millionaire Next Door by Thomas J Stanley and William D. Danko

One of the first books that really helped me understand the difference between saving money instead of looking like you have money was The Millionaire Next Door. This book is the ultimate “Anti-Joneses” personal finance doctrine. What’s extremely helpful is this book attempts at destroying a lot of the myths and urban legends that surround wealthy people. Want to know why most millionaires are NOT entertainers and athletes? How is this possible..uh read the book. You’ll be shocked to know how much the average millionaire spends on his/her watch. Want to know? Read the book. Or how about how much the average millionaire spends on a car? Want to know? Read the book. I promise you, you’ll walk away with a new understanding of why saving is so important, especially when it comes to your own personal utility. Too many people carry a fictitious narrative about what wealth is and who are the fortunate few who’ve been able to reach the status of wealthy. I must read for those who are interested in finding out where the seedlings of wealth begin and how those seedlings grow into wealthy roots.

Outliers: The Story of Success by Malcolm Gladwell

One of the most difficult concepts to understand is the dynamic “magic” that keeps the economy chugging along. In short, incentives and human capital. Incentive is the factor that motivates an individual to do a particular act. In the context of economics, it’s usually more money and quality of life. In some instances aspiring for more money might not be tied to just material objects, but could be tied to savings which breeds financial security or other philanthropic aspirations. Malcolm Gladwell’s Outliers is all about the circumstances, timing, and incentives that allowed select individuals to do extraordinary things in the economy, while explaining what happens when people master the art of aligning their personal incentives with their stock of human capital. This is the driving force behind our global economy.

Honorable Mention

Economics in One Lesson by Henry Hazlitt

Once you finished with the first 3 books above, you can’t move forward with understanding economics before you read Economics in One Lesson. Although written within a Libertarian vein (I say this as a compliment), it’s does a pretty good job of removing a lot of the “economic myths” that seem to never go away. The language is a bit heavier than the books above, but it’s still a good read. Although written almost 60 years ago, the content is as relevant today as it was then. A must read for those who want to rise above the cloud of economic confusion and fallacious punditry.

Now that the 2010 midterm elections are over, all you have to do is view the NYTimes word train from both parties to see the growing dividing line between Democrats and Republicans. 2010 midterm word train vs 2008 election word train. The fault line between red and blue states is deepening. More polarization of ideas equals more congressional gridlock while getting less and less done for the country.

My mood is disappointed. Not because the Republicans gained more seats in the House and flipped several seats in the Senate. Not because the Dems got a licking because there are no jobs. Not because because some of the most extreme ideologues are now representatives in the U.S. government. Not because the youth and other Black/Latino voters decided to stay home during this midterm election. Not because the Independents were “fair weather friends” of the 2008 election that ushered in Democrat control of the House/Senate including the Obama Administration and have now “turncoat” in less than half a presidential term. This is not a “sour grapes” reaction, this is a “reality grapes” reaction.

I’m disappointed because the American people, yet again, have an extremely short memory and seemed to have absolved the Republican party of decades of policy incompetence. They have never been the party of small government, free enterprise, fiscal discipline and just because they say it a thousand times, doesn’t mean that this is the answer or that they should institute these policies that they espouse. We don’t need small government, we need a smart and accountable government. We not only need a policy that encourages free enterprise, but a ethical free enterprise system. I’m not convinced that any party, Democrat or Republican or the fringe Republican movement known as the Tea Party, have the vision or ideas that will lead to the needed policy changes that will pull America out of this economic funk.

It’s not JUST spending cuts, it’s what you cut, it’s not JUST tax cuts, it’s balanced tax cuts that benefit the whole and not JUST the rich, it’s not JUST small business that matters, but the working poor that need help too. The single most crushing reality of this situation is ideological rhetoric has trumped informed reality. Fiscal fantasy over fiscal discipline. The American people nor our congressional representatives are prepared to make the radical changes to fix our problems. The rapid “zig zag” movements between parties is a testament to this fact. The achilles heel of this political process is we do not have an objective citizenry (regardless of the left or right), that has the information needed to understand the difference between sound policy decisions that benefit the whole vs corporatist ideologues posing as honest politicians who pretend that they are offering sound policy decisions.

Understanding the hows, whys, and whats of domestic and foreign policy is difficult. To be honest, I spend a considerable amount of time probing for facts and I STILL don’t have a crystal clear understanding of this stuff . It’s probably why most people prefer 30 second sound bites that move them into certain ideological political circles than doing the grudging hard work of researching and objectively interrogating certain policy ideas. It’s easy to follow your emotions, while not challenging the status quo. People are constantly asking “Where are the JOBS?”. For you to understand this, you have to go back several presidential administrations to understand how we got here. It didn’t start with the Bush Sr. Administration or Clinton Administration although they exacerbated the problem and it most certainly didn’t start with the GW Bush Administration although they exacerbated the problem. And to think the Obama Administration was a prerequisite to this current fiscal crisis is absolutely ludicrous. You have to research all the fiscal policy decisions starting around the Marquette Decision (1978) which completely deregulated the credit card industry. If the so-called “big bang” was the beginning of the universe, then the Marquette Decision was the big bang for our future fiscal problems. Our current “jobless recovery” is a host of bad policy decisions (including Fed policy) that was institutionalized for last 30 years.

Pointing a finger at any one political party is a waste of time. For what it’s worth, the one single book that has given me more food for thought on the nature of regulatory reform, fiscal policy decisions by the U.S. government, global monetization policy, Fed monetary policy and the roots of economic booms and busts including our current fiscal crisis is the book Fault Lines: How Hidden Fractures Still Threaten the World Economy by Raghuram Rajan. You can also read Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism by Kevin Phillips which helps to understand these fiscal issues too. Start there and use this as a guide so you can understand why jobs have been obliterated from the U.S economy. In short, our extreme financialization of phantom assets/equity, erroneous reactions from the Fed have severely hampered the U.S. economy, not to mention financial illiteracy by the general public. It’s not going to take half of a presidential term to get out of this. We are 3-4 presidential terms away from getting even close to fixing the fundamentals of the U.S. economy. If that. Jobs can only come from the efficient use of resources in the economy. I repeat, there is no political party that can get us out of this. Once we realize that we are all in this together, irrespective of party affiliation, things will start falling into place.

Books

• Fault Lines: How Hidden Fractures Still Threaten the World Economy by Raghuram Rajan
• Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism by Kevin Phillips