Dagupan City (29 June) — More and more Filipinos choose to be self-employed to avoid the blunt of the global economic meltdown, and they are thankful for it…

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As employment plummets within the current a job market, which is being defined today as the worst economy since the 1930 depression, the benefits of starting your own business is fast becoming one of the only viable options left for generating income. This is especially true for African Americans, who are silently suffering from job losses that are twice the national rate, and continues to grow as the general economy worsens.

In an economy that has historically defined our struggles as being the “last hired, first fired” African Americans are being forced to choose between the prospects of unemployment or self-employment.

Most economists, that are straightforward enough to tell the truth, are sounding the alarm that we now exist in the calm before a great financial storm. Our reaction to the economic crisis that we are undeniably facing today, as African Americans, reminds me of a fable written by Aesop(…)

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LEARN HOW TO GENERATE A REAL INCOME, RIGHT FROM YOUR COMPUTER!

Through the revolutionary new SHOPPING and BUSINESS OPPORTUNITY CENTERS of THE AFRICAN AMERICAN CONNECTION – it will allow you to shop and Save up to 40% on the products that you are already purchasing and receive a CASH BACK rebate in the form of a check, which is mailed directly to you!

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For African Americans, “2008 was not a good year,” said Algernon Austin, director of Program on Race, Ethnicity and the Economy at the Economic Policy Institute, “and unfortunately, it looks like things will get worse.”

The adage that when America sneezes, Black America catches a cold has held true, making it almost inevitable that African Americans would bear the brunt of the country’s financial woes, economists say.

“Whenever there is an economic downturn, African Americans are the most negatively affected,” said Jon Schmitt, senior economist at the Center for Economic Policy Research.

The disparity can be explained by a persistent gap in wealth between blacks and whites, among other things, he added.

“The unique challenge for African American middle class is they tend to have much less financial wealth (like stocks and bonds) and wealth in general so they have much less of a margin to get through tough times,” the economist said.

It was(…)