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#1225537 - Thu Apr 19 2018 06:05 PM America’s first black billionaire says Trump economy has been good for African Americans
Wonder Boy
Offline brutally Kamphausened

Registered: Wed Sep 12 2001
Posts: 17916
Loc: A glorious bold new America


AMERICA'S FIRST BLACK BILLIONAIRE SAY TRUMP ECONOMY BENEFITS BLACK AMERICANS

 Quote:

by Tracy Jan
April 7, 2018


BET founder Robert L. Johnson, America’s first black billionaire, said during a CNBC appearance on Friday that black Americans should be encouraged by the growing economy under President Trump.

“Something is going right,” said Johnson, owner and chairman of Bethesda-based asset management firm RLJ Companies.

He cited the December jobs report showing that unemployment among black workers was at its lowest since the Labor Department began tracking the data in 1972.

Black unemployment did fall to 6.8 percent in December, before rising and dipping again to 6.9 percent in March, according to the latest jobs numbers released Friday. But black unemployment remains nearly double the white unemployment rate of 3.6 percent, even though the gap has narrowed somewhat.

Johnson, during his appearance on “Squawk Box” on Friday morning before the March jobs report was released, was optimistic about how black Americans will continue to fare economically.

"You have to take encouragement from what's happening in the labor force and the job market," Johnson said. "When you look at African American unemployment, in over 50 years since the Bureau of Labor Statistics has been keeping the numbers, you've never had two things: African American unemployment this low and the spread between unemployment among whites and African Americans narrowing.


“That absolutely means the jobs market is soliciting employees who have been out of the labor force, some of it just based on discrimination, some of it based on changes in education, access and technology changes,” he continued. “And so when you look at that, you have to say something is going right.”

Johnson praised the current U.S. business environment, “if you take into account the Trump tax cut,” he said. “I believe the economy is on a strong growth path.”

The December tax cuts were the largest one-time reduction in the corporate tax rate in U.S. history. The GOP bill, sold on the promise that it would drive up wages and increase job growth, also lowered taxes for the vast majority of Americans, as well as small-business owners.

While Trump often claims credit for the lower black unemployment rate — touting it in his State of the Union address in January and even tweeting a CNBC story about Johnson’s comments Friday — the brightening economic outlook preceded his presidency. The black unemployment rate had steadily declined during Barack Obama’s two terms, from nearly 17 percent in 2010, after the recession, down to 7.8 percent by the time Trump entered office in January 2017.

“Most of the programmatic work was set into motion before the last administration was leaving,” said Hilary Shelton, director of the NAACP’s Washington bureau.


Some economists criticized Johnson’s rosy assessment of the economic
“Most of the programmatic work was set into motion before the last administration was leaving,” said Hilary Shelton, director of the NAACP’s Washington bureau.


Hamilton noted that the structural nature of work has changed drastically since the government began tracking employment statistics, with very different implications today in regard to job security, wages and retirement benefits.

“Work is more precarious today than it was in the past, and in particular, black individuals are more likely to be in precarious employment scenarios with jobs that face greater wage and work-hour volatility,” Hamilton said. “Bob Johnson’s in the billionaire’s club with Donald Trump, so it’s not surprising that they align in their vision on labor.”

Johnson, who’s been friendly with Trump through the years, said he had met with Trump at his golf club in New Jersey shortly after his win when the president-elect offered Johnson a cabinet position.



“I thought I would meet to see if there’s common ground with someone most in the black community might call an enemy,” Johnson told NBC at the time. “It was clearly based on the respect two businessmen would give each other.”

Johnson reiterated Friday that he turned down the cabinet position because he didn’t want to work for the government. He said he continues to have access to top administration officials -- including Trump himself during a meeting last week in Florida -- who he speaks with regularly about improving the economic lives of African Americans. Among the issues he said he's engaged them on are encouraging black workers to save for retirement and keeping black-owned banks solvent so poor communities would have access to capital.

Johnson, a Democrat and supporter of Hillary Clinton, had previously penned an essay on how African American voters should respond to the “tectonic political rift” resulting in Trump’s election.

“Why shouldn't we, as Black voters, reject the notion that we are locked into one party which undoubtedly limits and dilutes our voting power? We should, , instead, use the power of our vote to support and elect whichever party that best serves our interests,” Johnson wrote.


He went on to quote former representative William Lacy Clay Sr. (D-Mo.), who formed the Congressional Black Caucus in 1971: "Black people have no permanent friends, no permanent enemies, just permanent interests."

“That was the CBC motto then and Black Americans should embrace it as our rallying cry today,” Johnson wrote.



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#1225540 - Thu Apr 19 2018 08:18 PM Re: America’s first black billionaire says Trump economy has been good for African Americans [Re: Wonder Boy]
Matter-eater Man
Online   argumentative Fair Play!

Registered: Sat Jun 07 2003
Posts: 13784
I would point out that the economy didn't just become good last year. Black employment steadily increased under Obama. There wasn't a sudden rise but a steady curve. Spanky was the head birther before running for President. The better economy he called a bubble until he became President. The GOP is actually going to need to change to attract a more diverse voter.

Fair play!

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#1225638 - Sat May 05 2018 02:25 AM Re: America’s first black billionaire says Trump economy has been good for African Americans [Re: Matter-eater Man]
Wonder Boy
Offline brutally Kamphausened

Registered: Wed Sep 12 2001
Posts: 17916
Loc: A glorious bold new America

Tavis Smiler and other representatives of the black community would disagree with that fronted liberal narrative.

Tavis Smiley said that Obama has singlehandedly wiped away 40nyears of black progress, in measures of declining employment, declining income, food stamp usage, decreased ratio of home ownership and other measures. And that if a white president had overseen that kind of decline in black America, there would have been million-man black marches on Washington.

Tavis Smiley: In The Era of Obama Blacks Have Lost Ground In Every Major Economic Category

 Quote:
January 15, 2016


PBS host Tavis Smiley acknowledges that he, and others, got "so caught up in the symbolism of the Obama presidency," that they didn't press as hard as they should have on issues that are important to the black community.

"Sadly, and it pains me to say this, over the last decade black folk, in the era of Obama have lost ground in every major economic category," Smiley said Friday in an interview with Huffington Post. "Not one, two or three [categories], but every major economic category, black americans have lost ground"

"We've been so caught up in the symbolism of the Obama presidency, we haven't pressed as hard as we should on the substance of this presidency," Smiley said. "Black people and black leaders have been too deferential to this president."



TAVIS SMILEY: Sadly, and it pains me to say this, over the last decade black folk, in the era of Obama have lost ground in every major economic category. Not one, two or three [categories], but every major economic category, black americans have lost ground...

Although black folk have caught the most hell in the last 10 years, including being shot and killed in the streets by cops who keep getting away with that... black people are still the most optimistic people, they're still the most hopeful about their future. That has a lot to do with our faith, with our belief in each other, with our love for Barack Obama...

We've been so caught up in the symbolism of the Obama presidency, we haven't pressed as hard as we should on the substance of this presidency... Black people and black leaders have been too deferential to this president. They've been deferential because they know he was being piled on by the Republicans. They saw the obstructionism. They saw the name calling… They've heard about the death threats, they've seen people breaking into the white house and climbing the fence, stuff that never happened with white presidents. So there's a skepticism, if not a cynicism, about what's happened to this president on his watch.


And actually, there were incidents of people giving death threats to W. Bush and other previous presidents. Reagan was shot. Gerald Ford likewise was almost assassinated. I didn't see any incidents with Obama that were nearly as close as Ford or Reagan. And one demented guy even crashed a plane on the WHite House property. A few years ago, I posted an article that cited that despite Obama had less death threats than W. Bush, the lesser threats about Obama were hyped more, and (of course!) attributed to "racism". Never mind legitimate outrage to Obama's lawlessness and executive order usurping of the Senate and Congress. And even declaring war in Libya without Congressional approval (whereas Bush had full approval.)

I would argue that the name calling at W. Bush was at least as vitriolic as anything Obama had to endure.

But regardless, Tavis Smiley acknowledges black America and the media's complacency during Obama's destruction of black America.


  • from Do Racists have lower IQ's...

    Liberals who bemoan discrimination, intolerance, restraint of Constitutional freedoms, and promotion of hatred toward various abberant minorities, have absolutely no problem with discriminating against, being intolerant of, restricting Constitutional freedoms of, and directing hate-filled scapegoat rhetoric against conservatives.

    EXACTLY what they accuse Republicans/conservatives of doing, is EXACTLY what liberals/Democrats do themselves, to those who oppose their beliefs.

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#1225639 - Sat May 05 2018 02:33 AM Re: America’s first black billionaire says Trump economy has been good for African Americans [Re: Wonder Boy]
Wonder Boy
Offline brutally Kamphausened

Registered: Wed Sep 12 2001
Posts: 17916
Loc: A glorious bold new America


Tavis Smiley: Black people have lost ground under Obama

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#1225641 - Sat May 05 2018 08:30 AM Re: America’s first black billionaire says Trump economy has been good for African Americans [Re: Wonder Boy]
Matter-eater Man
Online   argumentative Fair Play!

Registered: Sat Jun 07 2003
Posts: 13784
It's more than a narrative, it's the truth WB. Spanky was front page news for a long time accusing Obama of not being a US citizen. And the economic data doesn't show a sudden surge in employment for blacks when Trump became President but a constant growth that started after 2009. Obama could have tried doing more but I think it would have been met with even greater resistance from the GOP. He did the best he could being President of the whole nation, including people that hated him but love the dishonest sleaze that we have now.

Fair play!

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#1225649 - Sun May 06 2018 04:08 PM Re: America’s first black billionaire says Trump economy has been good for African Americans [Re: Matter-eater Man]
Wonder Boy
Offline brutally Kamphausened

Registered: Wed Sep 12 2001
Posts: 17916
Loc: A glorious bold new America

The truth is that after the stock market plummeted on the news that Obama was elected in Nov 2008, and continued to plummet and millions in layoffs were triggered into early/mid 2009, at some point the market bottomed out and there was nowhere else for the market to go but up.

NOT because of anything Obama did that was beneficial to the market, in spite of Obama socialist and anti-business policies. I challenge you to produce anything, any policy whatsoever, from Obama that was stimulating to growth. Even Obama's "stimulus bill" and "shovel ready jobs" were essentially slush funds for liberal political groups and not actually stimulating, except for subsidies for political supporting corporations like GE, and disastrous subsidized failed environmental projects like Solyndra.

What Obama provided economically could at best be described as "state-run capitalism" comparable to that of authoritarian China, or Hitler's Germany, where rather than actual growth and promotion of innovation and efficiency, a central government predetermines who will be the companies that will be allowed to grow, and the ones that will be "punished" into insolvency and bankruptcy. Just ask the unemployed voters and executives of West Virginia's formerly thriving coal-mining industry.

And don't give me the line that coal is an obsolete industry, China opens another new coal factory every 2 or 3 weeks. And since Trump has become president, coal has had the federal weight taken off their shoulders, and is growing again.

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#1225650 - Sun May 06 2018 04:15 PM Re: America’s first black billionaire says Trump economy has been good for African Americans [Re: Wonder Boy]
Wonder Boy
Offline brutally Kamphausened

Registered: Wed Sep 12 2001
Posts: 17916
Loc: A glorious bold new America


Another I just thought of was Obama's "cash for clunkers" plan that scrapped hundreds of thousands of used cars for environmental reasons.

It created a temporary boost of new-car in the initial months, followed by a slump. But ultimately, it didn't change anyone's decision to make them buy a new car, it just sped up the decision to buy by those already predisposed to do so.

And for years after, it created an artificial scarcity of used cars, that just made it far more expensive for several years to buy a used car. Another manifestation of the economic genius of Comrade Obama and his Central Committee.

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#1225651 - Sun May 06 2018 04:21 PM Re: America’s first black billionaire says Trump economy has been good for African Americans [Re: Wonder Boy]
Wonder Boy
Offline brutally Kamphausened

Registered: Wed Sep 12 2001
Posts: 17916
Loc: A glorious bold new America
http://thehill.com/homenews/administrati...er-january-jump


 Quote:
According to the Bureau of Labor Statistics, black unemployment rose to 7.7 percent in January after previously falling to 6.8 percent in December, which was the lowest reported since the records first began in 1972.

Employment numbers for February have not yet been released, and it’s unclear if the black unemployment rate has changed since the January jobs report.

The current overall unemployment rate sits at 4.1 percent.
Trump and the White House have both touted black employment rates, including during the president's first State of the Union speech last month, in which he said the rate was something he was "very proud of."

Critics of Trump have said that the relatively low numbers for black unemployment are the result of the gradual economic recovery since the Great Recession in the last decade.

The unemployment rate among African-Americans has seen an overall decline since 2011, when former President Obama was still in office.



So much for the DNC talking points liberal narrative.


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#1225653 - Sun May 06 2018 06:03 PM Re: America’s first black billionaire says Trump economy has been good for African Americans [Re: Wonder Boy]
Matter-eater Man
Online   argumentative Fair Play!

Registered: Sat Jun 07 2003
Posts: 13784
 Originally Posted By: Wonder Boy

The truth is that after the stock market plummeted on the news that Obama was elected in Nov 2008, and continued to plummet and millions in layoffs were triggered into early/mid 2009, at some point the market bottomed out and there was nowhere else for the market to go but up.
...

This is total bullshit. McCain's quote about the economy cratering comes to mind. It's well documented that the economy was in big trouble before the election. And the GOP did everything it could to obstruct Obama. Remember the budget battles and your party talking about a deficit that was intolerable than but now besides some grumbling get passed with your party in full control? I'm sure you do so why even bother with this sad attempt at revisionism?

Fair play!

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#1225654 - Sun May 06 2018 06:14 PM Re: America’s first black billionaire says Trump economy has been good for African Americans [Re: Wonder Boy]
Matter-eater Man
Online   argumentative Fair Play!

Registered: Sat Jun 07 2003
Posts: 13784
 Originally Posted By: Wonder Boy
http://thehill.com/homenews/administration/375404-trump-touts-lowest-black-unemployment-in-history-after-january-jump


 Quote:
According to the Bureau of Labor Statistics, black unemployment rose to 7.7 percent in January after previously falling to 6.8 percent in December, which was the lowest reported since the records first began in 1972.

Employment numbers for February have not yet been released, and it’s unclear if the black unemployment rate has changed since the January jobs report.

The current overall unemployment rate sits at 4.1 percent.
Trump and the White House have both touted black employment rates, including during the president's first State of the Union speech last month, in which he said the rate was something he was "very proud of."

Critics of Trump have said that the relatively low numbers for black unemployment are the result of the gradual economic recovery since the Great Recession in the last decade.

The unemployment rate among African-Americans has seen an overall decline since 2011, when former President Obama was still in office.



So much for the DNC talking points liberal narrative.



Are you even reading what your posting? Unemployment declined for blacks since 2011. It went back up in January. I think usually at this point you find someway of blaming Obama for it but you apparently forgot that the rate going up is not good.

Fair play!

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