African American Duke University Economist Calls for $12 Trillion in Slavery Reparations

[basquebromance]

sounds very reasonable!

Duke University Economist Calls for $12 Trillion in Slavery Reparations

Economist William Darity Jr. and his wife Kirsten Mullen have co-authored a report proposing $12 trillion in slavery reparations.

www.breitbart.com

 

[Auld Phart]

" The plan, written for The Roosevelt Institute, calls for between $10 trillion and $12 trillion — approximately $800,000 per African-American household — to be paid. "

Sounds foolish to me

 

[Polishprince]

sounds very reasonable!

Duke University Economist Calls for $12 Trillion in Slavery Reparations

Economist William Darity Jr. and his wife Kirsten Mullen have co-authored a report proposing $12 trillion in slavery reparations.

www.breitbart.com

Tremendous news for the makers of Hennessy and Newport for those who are in the market and expect Sleepy Joe to prevail.

 

[Taz]

That'll make for some fun times at the prison canteens.

 

[basquebromance]

it's a great issue to pander to the masses

Moderates go after progressives in Dem debate

Divisions on health care and immigration came to the fore.

www.politico.com

 

[Taz]

sounds very reasonable!

Duke University Economist Calls for $12 Trillion in Slavery Reparations

Economist William Darity Jr. and his wife Kirsten Mullen have co-authored a report proposing $12 trillion in slavery reparations.

www.breitbart.com

For $10 Trillion, they should at least have to move back to Africa.

 

[blastoff]

Time to invest in what ever company makes the best blackface stuff.

 

[Harry Dresden]

i have some black blood in me.....i wonder if i can grab a hunded thousand of that?.....

 

[basquebromance]

i have some black blood in me.....i wonder if i can grab a hunded thousand of that?.....

sure

 

[IM2]

sounds very reasonable!

Duke University Economist Calls for $12 Trillion in Slavery Reparations

Economist William Darity Jr. and his wife Kirsten Mullen have co-authored a report proposing $12 trillion in slavery reparations.

www.breitbart.com

He is correct in his assessment.

 

[IM2]

i have some black blood in me.....i wonder if i can grab a hunded thousand of that?.....

Yawn!

 

[IM2]

Slaves worked for free. But that did not mean they had no value. Indeed, slaves were literally more valuable than gold. Ned & Constance Sublette wrote “The American Slave Coast: A History of the Slave-Breeding Industry “ the following passage is from a blog titled “A History of the Slave-Breeding Industry in the United States,” by Jason Kottke who quotes a Pacific Standard review of the book:

“By a conservative estimate, in 1860 the total value of American slaves was $4 billion, far more than the gold and silver then circulating nationally ($228.3 million, “most of it in the North,” the authors add), total currency ($435.4 million), and even the value of the South’s total farmland ($1.92 billion). Slaves were, to slavers, worth more than everything else they could imagine combined.”

Ned & Constance Sublette, The American Slave Coast: A History of the Slave-Breeding Industry​

Slaves were worth more than the total currency plus all the farmland in the South combined yet did not receive a dime. As I write this America has 1.9 trillion dollars of total currency in circulation according to the federal reserve. In 1860 the total value of slaves was 17- and one-half times more than the money circulating in the economy. Giving todays amount of currency in circulation, the same equivalence in comparison to the value of slaves would make slaves worth 33,250,000,000,000 dollars. Remember that slaves were considered property. Because they were, the following activity could occur.

During slavery, more specifically during the 19th century, wealthy slaveowners looking for a way to get additional capital to buy more slaves came up with an idea- slave backed securities. Your eyes are not playing tricks on you. Slaveowners securitized slavery. Cornell professors Edward E. Baptist and Louis Hyman detailed how it was done in an article published by the Chicago Sun-Times on its website dated March 7, 2014. This is from the article:

In the 1830s, powerful Southern slaveowners wanted to import capital into their states so they could buy more slaves. They came up with a new, two-part idea: mortgaging slaves; and then turning the mortgages into bonds that could be marketed all over the world.

First, American planters organized new banks, usually in new states like Mississippi and Louisiana. Drawing up lists of slaves for collateral, the planters then mortgaged them to the banks they had created, enabling themselves to buy additional slaves to expand cotton production. To provide capital for those loans, the banks sold bonds to investors from around the globe — London, New York, Amsterdam, Paris. The bond buyers, many of whom lived in countries where slavery was illegal, didn’t own individual slaves — just bonds backed by their value. Planters’ mortgage payments paid the interest and the principle on these bond payments. Enslaved human beings had been, in modern financial lingo, “securitized.”

As slave-backed mortgages became paper bonds, everybody profited — except, obviously, enslaved African Americans whose forced labor repaid owners’ mortgages. But investors owed a piece of slave-earned income. Older slave states such as Maryland and Virginia sold slaves to the new cotton states, at securitization-inflated prices, resulting in slave asset bubble. Cotton factor firms like the now-defunct Lehman Brothers — founded in Alabama — became wildly successful. Lehman moved to Wall Street, and for all these firms, every transaction in slave-earned money flowing in and out of the U.S. earned Wall Street firms a fee.

The infant American financial industry nourished itself on profits taken from financing slave traders, cotton brokers and underwriting slave-backed bonds. But though slavery ended in 1865, in the years after the Civil War, black entrepreneurs would find themselves excluded from a financial system originally built on their bodies.

Edward E. Baptist and Louis Hyman, American Finance Grew on the Back of Slaves​

 

[Harry Dresden]

i have some black blood in me.....i wonder if i can grab a hunded thousand of that?.....

Yawn!

its true....im Sicilian....if you knew about the Moors you would not be yawning...my grandmothers 2 brothers were blacker than many blacks one was so black they called him blackie and he hung with the blacks over the Sicilians.....

 

[IM2]

i have some black blood in me.....i wonder if i can grab a hunded thousand of that?.....

Yawn!

its true....im Sicilian....if you knew about the Moors you would not be yawning...my grandmothers 2 brothers were blacker than many blacks one was so black they called him blackie and he hung with the blacks over the Sicilians.....

I know all about the moors. I'm yawning because you're white and made a snarky comment.

 

[Harry Dresden]

i have some black blood in me.....i wonder if i can grab a hunded thousand of that?.....

Yawn!

its true....im Sicilian....if you knew about the Moors you would not be yawning...my grandmothers 2 brothers were blacker than many blacks one was so black they called him blackie and he hung with the blacks over the Sicilians.....

I know all about the moors. I'm yawning because you're white and made a snarky comment.

i am probably darker than you are....

 

[harmonica]

sounds very reasonable!

Duke University Economist Calls for $12 Trillion in Slavery Reparations

Economist William Darity Jr. and his wife Kirsten Mullen have co-authored a report proposing $12 trillion in slavery reparations.

www.breitbart.com

He is correct in his assessment.

.....won't help--blacks will still murder each other at HIGH rates and graduate at low rates

 

[harmonica]

.....won't help--blacks will still murder each other at HIGH rates and graduate at low rates
..the world gives mucho $$$$ to black Africa, but it doesn't help

 

[Monk-Eye]

" Delusions "

* Fantasy *

How many blacks are willing to accept an offer of reparations if it means that they will be deported to africa and their us citizenship revoked ?

How many whites are willing to pay reparations if it means blacks accepting the offer will be deported to africa and their us citizenship revoked ?

 

[Cellblock2429]

sounds very reasonable!

Duke University Economist Calls for $12 Trillion in Slavery Reparations

Economist William Darity Jr. and his wife Kirsten Mullen have co-authored a report proposing $12 trillion in slavery reparations.

www.breitbart.com

/----/ Pay them in Bitcoin. Problem solved.

 

[Flash]

We can start with a base of $12 trillion.

From that we subtract all the Federal, state and local welfare given to the Negroes over the years.

Then we can subtract the inefficiency to the economy caused by Affrimative Action and EEO programs.

Then we can subtract the cost of the failure of education on the economy caused by having integrated schools.

Then we subtract the cost of keeping criminal Negroes locked up for criminal behavior.

Then we subtract the cost of Negro crime.

Then we subtract the cost of all their looting and rioting and destruction over the decades.

If the Moon Bats really believe that the Civil War was fought to free the slaves then we need to subtract the cost of the war.

They will owe us money when we get done with the real economic balance.