Understanding the Black Experience | Psychology Today

“Can a White Person Understand the Black Experience? Layers of pain, mistrust, and taboos keep people divided along racial lines.”

Having frank discussions about or asking questions about racism and injustice is challenging for many well-meaning people. They simply don’t know how to approach or “connect to our fellow human beings who are from different ethnic/racial groups and cultural traditions”.

This is particularly difficult when there are over 200 years of racism, injustice and oppression between groups; and, it is difficult while significant social, health and economic inequities remain.

Without an American and world history lesson, it’s safe to say that there are many reasons for discomfort on both sides. This is the major reason why most White people do not understand the African American experience in America.

“Yet, making an authentic connection with another person means understanding, empathizing, and being able to see the world through their eyes.” And, it is hard to imagine that people of color are living a completely different experience in America simply by virtue of their race, ethnicity or gender.

Racism hurts

As much as people of color adopt a stoic attitude and pretend that racism does not impact their psyche, repeated and persistent racism can be traumatic. And it hurts doubly so when those around refuse to acknowledge the experience and its potential impact. Well meaning people tend to view an experience as only a single racist occurrence, rather than understand that the incident adds to a lifetime of accumulated experiences and frustrations.

People of color do not want other people to discount their experiences or tell them that they’re being overly sensitive. So if you are a White person patiently waiting for a “Black person to spontaneously share their experience, you may be waiting a long time.” 

Read more: https://www.psychologytoday.com/us/blog/culturally-speaking/201408/can-white-person-understand-the-black-experience


References:

  1. https://www.psychologytoday.com/us/blog/culturally-speaking/201408/can-white-person-understand-the-black-experience
  2. Carter, R. T. (2007). Racism and Psychological and Emotional Injury: Recognizing and Assessing Race-Based Traumatic Stress. The Counseling Psychologist, 35(1), 13-105.
  3. https://www.msn.com/en-us/news/us/being-black-in-america-shouldnt-feel-like-a-overwhelming-burden-opinion/ar-BB15jkne
  4. https://www.nytimes.com/interactive/2018/03/19/upshot/race-class-white-and-black-men.html

Nonfarm Payrolls Rose 2,509,000 in May 2020 | Brian Wesbury

By Brian Wesbury, Chief Economist at First Trust Advisors L.P

The US economy is healing much faster than anyone expected, justifying recent optimism in the stock market and showing the benefits of easing lock downs around the country. 

Non-farm payrolls rose 2.5 million in May, easily beating the consensus expected decline of 7.5 million.  The private sector did even better, adding 3.1 million jobs.  Civilian employment, an alternative measure of jobs that includes small-business start-ups, rose 3.8 million.

 

The gains in payrolls and civilian employment are both the largest on record for any single month, although, obviously, they both come immediately after the worst month for jobs in history.  The largest gains in jobs in May were at restaurants & bars, while construction, health care & social assistance, retail, and manufacturing all did very well, too.

The other piece of surprising news was that the unemployment rate, which the consensus expected to rise to 19.0%, and which every economist thought would rise to at least 16.0%, instead fell to 13.3%.  That is still extremely high, but at least it’s moving in the right direction sooner than anyone thought.  The labor force (people working or looking for work) increased by 1.7 million in May, although it’s still down substantially from earlier this year.

The worst headline of the report was that average hourly earnings fell 1% in May after rising 4.7% in April.  However, just like April’s wage gains weren’t really good news, May’s decline isn’t really bad news.  Job losses in April were concentrated among lower-paid workers, so average hourly earnings rose because those still working typically made more money.  Now, as lower-paid workers are rehired, their pay levels reduce average earnings.

We like to track what the report means for workers’ earnings, and today’s news was good.  Total hours worked increased 4.3% in May. Multiplying hours by earnings shows that total earnings rose 3.3%.  That said, total earnings are still down 6.1% versus a year ago, which means workers have less purchasing power generated by actual production, versus purchasing power coming from government benefits.

The unemployment rate is going to remain at unusually high levels for at least the next few months, but today’s report is a testament to the entrepreneurial spirit and how quickly businesses have been able to adapt to a global pandemic and unprecedented shutdowns of the US economy.  A full recovery is still a long way off, but there should no doubt at this point that the recovery has started.

https://www.ftportfolios.com/blogs/EconBlog/2020/6/5/nonfarm-payrolls-rose–2,509,000-in-may

CEOs Condemn Police Brutality but Oversee Segregated Corporate Boards and C-Suites

Updated: June 7, 2020

CEOs comments condemning racism and police brutality towards Black and Brown American citizens, with few noteworthy exceptions, appear little more than marketing campaigns

In the past couple of week, many American Fortune 500 CEOs have released statements both internally to their employees and externally to the public condemning George Floyd’s murder in Minneapolis, Amy Cooper’s weaponizing the police against a black man in NYC Central Park, Ahmaud Arbery’s ‘running while black’ shooting death in Georgia, and Breonna Taylor’s assassination inside her Louisville, KY, home.

A few Fortune 500 CEOs have gone a step further and commented on the unjust plight and persistent racial and economic inequities experienced Black people in America.  One example is Amazon’s CEO Jeff Bezos. “‘Black lives matter’ doesn’t mean other lives don’t matter.” Jeff Bezos replied to an upset Amazon customer. “Black lives matter speaks to racism and the disproportionate risk that Black people face in our law enforcement and justice system.”

Randall Stephenson, AT&T Executive Chairman and CEO, has come out strongly imploring corporate CEOs to “speak up for racial justice” and to take deliberate action to combat racial economic inequality. He stated that that it is difficult to conduct business in an environment where “a large class of our people are perceiving and experiencing injustice.”

Additionally, Apple CEO Tim Cook strongly condemned the murder of George Floyd by a Minneapolis police officer. He acknowledged that racial injustice persists in America and that “…many people may want nothing more than a return to normalcy, or to a status quo that is only comfortable if we avert our gaze from injustice.” And, Amazon posted on Twitter a statement condemning the “…inequitable and brutal treatment of Black people in our country must stop.”

However, many of the hundreds of CEOs comments condemning racism, police brutality and social injustice towards Black and Brown American citizens appear little more than marketing campaigns written by their corporate marketing officers and legal counsels to position their organizations on the morally and politically correct side of these protests.

Only about 1 percent of CEOs in the S&P 500 Index are black, and last year (2019) 37 percent of corporate boards had no black members, according to Black Enterprise magazine.

The question to ask these suddenly enlightened CEOs is how have they led their respective corporations to right the many social and economic wrongs perpetrated on Black and Brown people over the past decades.

In areas where CEOs exercise immense influence and control over their respective organizations, we must ask these chief executives ‘what have you done lately’ for Black and Brown people. Are your corporate boards and senior executive leadership (C-suite) teams segregated (predominantly white male only) or are they inclusive and desegregated with people of color and women? Are your corporations engaged with and involved in improving the conditions for the citizens in the marginalized communities in which they’re headquartered? Finally, are you using your corporate lobbying influence in state and federal capitals to address racial and economic inequities?

Real societal change can occur only when people of color and women are included in the hard conversations about race, social justice and economic equality of opportunity, and they have more than a token voice at the table. Additionally, societal change is possible only when corporate executive leaders’ values and monetary incentives (salary, benefits, bonuses and stock options) are aligned with solving these long ignored wrongs.

“America must see that riots do not develop out of thin air. Certain conditions continue to exist in our society which must be condemned as vigorously as we condemn riots.” Dr. Martin Lither King, Jr.

“We cannot lose sight of the fact that racism is tearing our communities apart. One lesson we should all learn is that silent carriers help spread racism,” IBM’s CEO Arvin Krishna commented in a message to employees. “This is why it falls on all of us to do away with the legacy of bias, prejudice and racism that has led to these unspeakable events. The tragedies that have occurred should strengthen our determination to do more.”


References:

  1. AMERICA’S FEW BLACK CEOS ARE SPEAKING OUT ON KILLINGS AND PROTESTS, https://adage.com/article/news/americas-few-black-ceos-are-speaking-out-killings-and-protests/2260381
  2. https://www.theatlantic.com/politics/archive/2020/06/wesley-lowery-george-floyd-minneapolis-black-lives/612391/

Military service academies plan for students’ return in fall | Military Times

“We cannot develop leaders for our nation’s military online”. Vice Admiral Sean Buck, USN, Superintendent, U.S. Naval Academy, Class of 1982.

The U.S. Naval Academy is planning to have its 4,400 midshipmen return to campus in Annapolis, Maryland, for the fall, after students completed the last semester with online learning from their homes around the nation due to the coronavirus, academy officials said Monday.

Vice Adm. Sean Buck, the superintendent, told the academy’s Board of Visitors he has been communicating with the leaders of the nation’s other service academies, and they also plan to have their students on campus in the fall.

“I can tell you, as of this morning, every single military service academy in this country is opening in the fall,” Buck told the board in an online meeting. “We all are developing very detailed plans with regards to health, safety and the protocols that we need to put in place to manage risk.”

While academics can be done online, Buck said the other two pillars of the academy’s mission statement are developing midshipmen morally and physically, and those goals require hands-on experiences on campus.

Read more: https://www.militarytimes.com/news/your-military/2020/06/01/military-service-academies-plan-for-students-return-in-fall/?utm_source=facebook.com&utm_campaign=Socialflow+MIL&utm_medium=social

Most explosive stock market rally in history

We’re witnessing the most explosive stock market in history. We’re seeing a spectacular stock market rally.

We’ve witnessed the greatest 50-day rally in the history of the S&P 500. The S&P 500 has increased 37% over the past 50-days.

Ten weeks ago, March 23, 2020, the Dow dropped all the way to 18,591 points. The biggest gain ever in such a short timeframe. Today, June 4, 2020, the Dow Jones index has peaked above 26,274 points.

Why…T.I.N.A. (There is no alternative to stocks)

There are fewer publicly traded companies to invest in today than thirty years ago. In the 1990’s, there were about 8,000 companies listed on American stock exchanges. Today, there are about 4,000 publicly traded companies on American stock exchanges which represents a fifty percent cut.

Furthermore, there are fewer shares of company stocks available to be traded. Share buy-backs by U.S. companies have taken 20% of companies’ shares off the market.

Essentially, the number of available shares have been dramatically cut, yet the demand for share have been vastly increased the demand for shares. The market is awash in cash from the Federal Reserve loose monetary policy and trillions of dollars from 401K plans.

Economics 101 reveals that cutting the supply of stocks while increasing the demand for stocks cause the price of stocks to go up.

And don’t forget about investor psychology, the economy has entered the return to work phase and the economy is on the move again. Animal Spirits are on the rise again.

Regarding the S&P 500 index, 159 stocks in the index are up for the year an average of 13% / 350 are down year-to-date an average of 20%. And, there are $4 trillion still sitting on the sidelines in money market accounts.

FOMO (Fear of missing out)

Fear of missing out can be extremely expensive. When the equity market has explosive moves where it goes up this high and this fast, an investor can feel that they’re “being left out and left behind”. As a result, they start paying top dollar for expensive and overbought stocks. That is no longer investing…investors are buying high hoping for higher.


Sources: CNBC and Fox Business News

Silence is not an Option

“We have to stand together with the victims of murder, marginalization, and repression because of their skin color, and with those who seek justice through protests across our country.”  Ben & Jerry’s Ice Cream

Many Fortune 500 corporations and their CEOs have released statements condemning police brutality and racism within American society.

In my view, most of the statements or pledges to fund Black organizations are nothing more than marketing statements and platitudes created by corporate marketing and legal teams trying to position their organizations on the moral and politically correct side of this legitimate protest. Words don’t change much, actions do!

One glaring exception is the ice cream company Ben & Jerry’s press release. Their statement stands as one of the few exceptions to the norm:

Silence Is NOT An Option (by Ben & Jerry’s)

“All of us at Ben & Jerry’s are outraged about the murder of another Black person by Minneapolis police officers last week and the continued violent response by police against protestors. We have to speak out. We have to stand together with the victims of murder, marginalization, and repression because of their skin color, and with those who seek justice through protests across our country. We have to say his name: George Floyd.

George Floyd was a son, a brother, a father, and a friend. The police officer who put his knee on George Floyd’s neck and the police officers who stood by and watched didn’t just murder George Floyd, they stole him. They stole him from his family and his friends, his church and his community, and from his own future.

The murder of George Floyd was the result of inhumane police brutality that is perpetuated by a culture of white supremacy. What happened to George Floyd was not the result of a bad apple; it was the predictable consequence of a racist and prejudiced system and culture that has treated Black bodies as the enemy from the beginning. What happened to George Floyd in Minneapolis is the fruit borne of toxic seeds planted on the shores of our country in Jamestown in 1619, when the first enslaved men and women arrived on this continent. Floyd is the latest in a long list of names that stretches back to that time and that shore. Some of those names we know — Ahmaud Arbery, Breonna Taylor, Oscar Grant, Eric Garner, Trayvon Martin, Michael Brown, Emmett Till, Martin Luther King, Jr. — most we don’t.

The officers who murdered George Floyd, who stole him from those who loved him, must be brought to justice. At the same time, we must embark on the more complicated work of delivering justice for all the victims of state sponsored violence and racism.

Four years ago, we publicly stated our support for the Black Lives Matter movement. Today, we want to be even more clear about the urgent need to take concrete steps to dismantle white supremacy in all its forms. To do that, we are calling for four things:

First, we call upon President Trump, elected officials, and political parties to commit our nation to a formal process of healing and reconciliation. Instead of calling for the use of aggressive tactics on protestors, the President must take the first step by disavowing white supremacists and nationalist groups that overtly support him, and by not using his Twitter feed to promote and normalize their ideas and agendas. The world is watching America’s response.

Second, we call upon the Congress to pass H.R. 40, legislation that would create a commission to study the effects of slavery and discrimination from 1619 to the present and recommend appropriate remedies. We cannot move forward together as a nation until we begin to grapple with the sins of our past. Slavery, Jim Crow, and segregation were systems of legalized and monetized white supremacy for which generations of Black and Brown people paid an immeasurable price. That cost must be acknowledged and the privilege that accrued to some at the expense of others must be reckoned with and redressed.

Third, we support Floyd’s family’s call to create a national task force that would draft bipartisan legislation aimed at ending racial violence and increasing police accountability. We can’t continue to fund a criminal justice system that perpetuates mass incarceration while at the same time threatens the lives of a whole segment of the population.

And finally, we call on the Department of Justice to reinvigorate its Civil Rights Division as a staunch defender of the rights of Black and Brown people. The DOJ must also reinstate policies rolled back under the Trump Administration, such as consent decrees to curb police abuses.

Unless and until white America is willing to collectively acknowledge its privilege, take responsibility for its past and the impact it has on the present, and commit to creating a future steeped in justice, the list of names that George Floyd has been added to will never end. We have to use this moment to accelerate our nation’s long journey towards justice and a more perfect union.”

“Bravo Zulu” / well done to Ben & Jerry’s Ice Cream.

Source: https://www.benjerry.com/about-us/media-center/dismantle-white-supremacy

George Floyd Murder and the Dominoes of Racial Injustice | The Daily Show with Trevor Noah

“That’s the thing people don’t understand sometimes. We need people at the top to be the most accountable, because they are the ones who are basically setting the tone and tenor for everything we do in our society. It’s the same way we tell parents to set an example for their kids, the same way we tell captains or coaches to set an example for their players, the same way we tell teachers to set an example for their students. The reason we do that is because we understand in society that if you lead by example, there is a good chance that people will follow that example you have set. If the example law enforcement is setting that they don’t adhere to the laws, then why should the citizens of that society adhere to the laws when in fact the law enforcers themselves don’t?” Trevor Noah

https://youtu.be/v4amCfVbA_c

On a recent episode of “The Daily Show,” Trevor Noah delivered a passionate commentary of George Floyd’s murder at the knee of Minneapolis Police Officer Derek Chauvin, the activism across the nation and world his death has spurred, and the mixed reactions of Americans to those protests, unrest and looting — particularly calling out those denouncing looting.


Read more:

https://www.vanityfair.com/hollywood/2020/06/trevor-noah-george-floyd-protests

Power of Vulnerability

In a speech that Teddy Roosevelt gave in 1910, Roosevelt said:

“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly.”

The powerful Roosevelt quote resonated with Dr. Brené Brown, a research professor at the University of Houston Graduate College of Social Work, who gave the blockbuster TEDTalks “Brené Brown: The Power of Vulnerability”.

In the introduction to her book, Dr. Brown comments on Roosevelt’s words, which she says perfectly encapsulate her research into why she and other researchers find being vulnerable such a hard thing to do.

According to Dr. Brené Brown, Ph.D, in he book, Daring Greatly: How the Courage to Be Vulnerable Transforms the Way We Live, Love, Parent, and Lead:

“When we spend our lives waiting until we’re perfect or bulletproof before we walk into the arena, we ultimately sacrifice relationships and opportunities that may not be recoverable, we squander our precious time, and we turn our backs on our gifts, those unique contributions that only we can make,” says Dr. Brown. “Perfect bulletproof are seductive, but they don’t exist in the human experience.”

Here are a summary of the ThenPower of Vulnerability key points:

  • Vulnerability makes you authentic and allows you to feel love, belonging and joy
  • To be vulnerable you have to:
  • – Internalize that you are a worthy (of being loved) and enough the way you are
  • – Have the courage of showing up and engaging even if could hurt
  • “Your willingness to own and engage your vulnerability determines the depth of your courage”

“Daring greatly means the courage to be vulnerable. It means to show up and be seen. To ask for what you need. To talk about how you’re feeling. To have the hard conversations,” according to Dr. Brown.

Source: 5 insights from Brené Brown’s new book, Daring Greatly


  1. https://thepowermoves.com/daring-greatly-summary/

Principles for Investing Success | Vanguard Investment Management Company

Whatever financial challenge you’re facing, you can put yourself in a better financial position by setting goals, planning now and investing for the long term. The sooner you start, the sooner you’ll get on track.

Investing for the long term in order to grow your money is a marathon, not a sprint. An investment’s annual return provides perspective and growth over time.

https://vgi.vg/2Kyh3a3

Goals: Create clear, appropriate investment goals. Create appropriate investment goals you can measure and attain. Defining your goals clearly and planning realistic ways to achieve them can help protect you from common mistakes that could derail your progress.

https://vgi.vg/3c9ky3b

Balance: Develop a suitable asset allocation using broadly diversified funds. Create a sound investment strategy by choosing an asset allocation in line with your financial objectives. Build your allocation based on reasonable expectations and diversify your portfolio to avoid exposure to unnecessary risks. Balance is the key:

https://vgi.vg/3f7Qh6u

Costs: Minimize costs. Markets are unpredictable. Costs are forever. The lower your costs, the greater your share of an investment’s return. And research suggests lower-cost investments outperform higher-cost alternatives. You can’t control the markets, but you can control your costs and tax liability:

https://vgi.vg/2z6fQEv

Discipline: Maintain perspective and long term discipline. Investing can provoke strong emotions. During times of market uncertainty, you may find yourself tempted to make impulsive decisions or you may experience “paralysis by analysis,” unable to decide on how best to implement an effective investment strategy or when to rebalance your portfolio. Discipline and perspective can help you remain committed to a long-term investment philosophy through periods of market uncertainty.

https://vgi.vg/3c8ihFg


References:

  1. https://www.vanguard.com.au/adviser/en/article/cec-investment-philosophy/vanguards-principles-for-investing-success