Tag: entrepreneurs

It’s the Economy, Estúpido

Of course, it’s still too early to know if Trump will destroy the American economy the way that he has destroyed the lives of thousands of immigrants, portions of the environment, and America’s image and reputation.

But certainly it is a bit disquieting that for the first time in seven years, the United States is losing jobs. To be fair, much of that has to do with the devastation that a cataclysmic (yet somewhat predictable) series of hurricanes has inflicted on the country.

In any case, if one is striving to boost economic growth, it is not a good idea to piss off Latinos. After all, the “U.S. Latino GDP is growing 70 percent faster that the country’s non-Latino GDP.” Furthermore, Hispanics have higher rates of entrepreneurship than other groups, and remain one of the fastest growing demographics in America.

So a sane leader would look at those facts and say, “Damn, these guys are the future, and our nation’s economic growth is intrinsically tied to their financial well-being.”

But come on, we’re talking about a small-fingered, narrow-minded, black-hearted demagogue who doesn’t even understand basic economics. Therefore, it’s little surprise that he has continued to focus his ire on Latinos, with devastating consequences.

For example, “retail sales to Hispanics are tumbling, as immigrants fearful after the election of President Donald Trump stay home and hoard their cash.”

In addition, many labor market measures show that Latinos “have not totally recovered from the Great Recession.”

And when it comes to confidence (consumer or otherwise), keep in mind that “67 percent of Latinos disapprove of the job Trump is doing. By comparison… 54 percent of all adults in the country disapprove of Trump’s job in office.”

Taken together, we see a president who is determined to alienate Latinos, who are of course, crucial to the economic functioning of this country. And we see Hispanics unable to fulfill their true potential because they are too busy fending off the political and cultural assaults of a man so unstable that even his fellow Republicans believe that he is “unraveling.”

All of this could help to sink the economy. And we’re not even talking about the price tag for his idiotic wall that will never happen.

But don’t get me started on that.

 


Like a Burst Piñata

Say you open a small business. You run it for a few years, do pretty well, and always pay your debts (especially the rent) on time.

Then you arrive at work one morning to find a bulldozer parked in the pile of rubble that used to be your store.

pinata wreckage

You might get the impression that something was slightly amiss.

Well, recently, a piñata store in Austin was demolished, without the storeowners’ knowledge and with their possessions still inside. The storeowners, who are Latino, say that the greedy landlords bulldozed the store because they could get more money from the tech companies that are moving into the area.

The storeowners had a lease through 2017 and had just paid the rent for the upcoming month. When confronted about their reckless destruction of the store, one of the landlords (yes, a rich white guy) used the term “roaches” to describe the storeowners. Remember that the storeowners are Hispanic. Clearly, the term “roaches” was not an accident.

The incident shows how Latino neighborhoods are literally and figuratively being displaced for upscale residents. There have been numerous flare-ups in Austin over gentrification, with many Latino leaders claiming that rich newcomers are driving out long-time residents. And there have been similar disputes in New York, Los Angeles and other cities, often in Hispanic neighborhoods that are changing rapidly.

And here’s where it gets conspiratorial.

A recent study implied that Latino neighborhoods are more likely to be gentrified than African American neighborhoods.

Harvard researchers analyzed patterns across Chicago and found that gentrifying neighborhoods tended to be predominantly Latino or white working class, with fewer African Americans.

The study implied that Latino neighborhoods are more likely to be gentrified in the traditional sense (i.e., young white newcomers moving into the area). And they are also more likely to receive the theoretical benefits of gentrification (e.g., urban renewal and municipal investment). No word, however, on what happens to Hispanic residents when the bulldozers get revved up.

Keep in mind that the same study also implied that there is a tipping point, where the percentage of African Americans in a neighborhood either makes gentrification likely or unlikely.

Basically, too many black people keep the white people away.

Why are Latino neighborhoods more attractive to white gentrifiers? Well, there is no hard data on that, and it’s unlikely that a future study will include the question, “Why are you ok moving in next to brown people, but not black people?” Although the answers would be illuminating, to say the least.

The researchers said that in addition to their statistical proof, there is anecdotal evidence that Latino neighborhoods are viewed as more desirable to gentrifiers than African American areas.

For example, the Williamsburg section of Brooklyn — often pointed to as the prime example of gentrification — previously had a large Latino population. That’s not the case anymore, as the cliché of the young hipster inevitably features a white guy (usually with some bizarre nineteenth-century facial hair, but that’s another story).

In response to this dark side of gentrification, some Latino community leaders in Los Angeles launched the “gente-fication” movement (“gente” is Spanish for “people,” but you already knew that).

The idea is that upscale Latinos will stay — or in some cases, move into — Latino neighborhoods and revitalize the area themselves rather than rely on newcomers. The trend has slowly caught on in other cities, such as New York, Houston and Phoenix.

Although results are difficult to quantify, the LA neighborhood of Boyle Heights may be in the midst of a Latino renaissance, due in part to the gente-fication movement. And community activists are attempting to duplicate the neighborhood’s success in other Los Angeles areas.

But the movement has drawn fire for what some claim is an exclusionary, or even racist attitude. After all, if you’re saying that you want a specific racial or ethnic group to move in — whether it’s white, black, Latino, or other — things quickly get uncomfortable.

Where all this will lead is a mystery. Perhaps gentrification will wipe us all out. Or maybe we’ll achieve some kind of balance where newcomers enrich neighborhoods while long-time residents maintain the area’s culture.

In any case, hopefully no more piñata stores will get bulldozed.


No Relaxing Allowed

As I’ve written before, we Hispanics are known for our fierce work ethic.

Think of immigrants slaving away at grueling tasks that native-born Americans refuse to do. Or consider that last year, “the number of Latino entrepreneurs grew more than white, black, and Asian entrepreneurs.”

Yes, we sure like to work. It’s unfortunate, then, that so many Hispanics who reach old age have nothing to show for it. This is because “fewer than half of … Latino workers have retirement plans on the job, leaving the vast majority of them with no savings designated for their golden years.”

hammock

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Getting Down to Business

So the Baby Boomers, as they are wont to do, are ready to take the money and run. Apparently, many older entrepreneurs will soon sell off their business and retire.

Well, we shouldn’t worry. After all, entrepreneurialism is a cornerstone of the fabled American Dream, and small businesses drive the economy. So I’m sure some young, smart, hardworking go-getters will keep the new ideas coming…unless of course, we’ve decimated educationpromoted ignorance, and ravaged the social safety net to the point that we are unleashing a generation ill-equipped to tap into their own creativity.

OK, now I’m worried.

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