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America Hasn't Reckoned with the Coup That Blasted the Black Middle Class


Yves here. This is a fascinating, if also deeply disturbing account of how a prosperous black community was attacked after North Carolina blacks also were starting to get political power by teaming up with white populists and Republicans. And you’ll see that “coup” is indeed the correct description.
The fact that the Wilmington coup was a durable success and no perp was held to account was proof that the white backlash against rising blacks would go unchecked.
If you were a Black person in America in the 1890s, you wanted to live in Brooklyn.
Not Brooklyn, New York. No, you wanted to be in the bustling Brooklyn district of Wilmington, North Carolina. At that time, 25,000 people lived in the thronging Cape Fear River port, the state’s largest city. More than half of them were Black. In Brooklyn, you could meet Black seamstresses, stevedores, cobblers, restauranteurs, shop owners, artisans, midwives, merchants, doctors, lawyers, bankers, and police officers. Th ....

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Stock Buybacks Stand in the Way of Biden's Infrastructure Plan


By Lynn Parramore, Senior Research Analyst at the Institute for New Economic Thinking. Originally published at the Institute for New Economic Thinking website
President Biden’s $2 trillion infrastructure and climate proposal has a lot of people excited, and no wonder. Americans are sick of being stuck with frazzled electric grids, foul drinking water, falling bridges, far too many left out of prosperity, and feeling that the country’s global status is suffering.
On March 31
st, President Biden described his vision to carpenters at a training facility in Pittsburgh: “It’s going to boost America’s innovative edge in markets where global leadership is up for grabs markets like battery technology, biotechnology, computer chips, clean energy, the competition with China in particular.” ....

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