“Nearly half of Black small businesses had been wiped out by the end of April,” Forbes reports off a report issued by the New York Fed.
“Black-owned businesses were more than twice as likely to shutter as their white counterparts, the report found.”
Between February and April of 2020, the number of active overall small business owners plummeted 22 percent, the largest drop ever.
Black businesses declined the most, 41 percent, while Hispanics and Asians fell by 32 and 26 percent, respectively. White business dropped by 17 percent.
Forbes believes the “figure has likely increased substantially as the pandemic has dragged on with a resurgence of cases this summer[.]”
Naturally, Forbes blames the unicorn of “institutional racism.”
“Why have Black businesses been twice as likely to close as their white counterparts, just as Black unemployment is often double that for whites?” Forbes asks rhetorically. “It’s institutional racism.”
There’s been no institutional racism in this country for decades. Sorry, Woketards, but individual racist assholes do not equal “institutional racism.”
The New York Fed accidentally tells the truth here:
Volumes of COVID-19 cases coincide with Black-owned business locations: two-thirds of counties with high levels of Black business activity pre-COVID-19 are in the top 50 COVID-affected areas.
That’s not institutional racism, that’s the result of a disproportionate number of black Americans choosing to live in the urban areas that were hit hardest.
So anyone with a half a brain knows what really happened, knows this obscene decimation of black-owned businesses had nothing to do with racism and hardly anything to do with the coronavirus.
The problem is what it always is — Democrats.
Because a disproportionate number of black Americans live in urban areas and cities controlled almost exclusively by Democrats and it the Democrats who — in their nihilistic effort to destroy President Trump by destroying the economy — imposed the most draconian and unnecessary lockdowns and social distancing demands, we now have the result.
Even though we now know the coronavirus is no more deadly to someone under 50 than the conventional flu, Democrats still shut it all down, locked it all down, and made it almost impossible to reopen.
Then, as the virus popped up in other states, Democrats deliberately overreacted as a means to create even more business instability and uncertainty with their hysterical, anti-science, and highly irresponsible talk about more lockdowns and not opening up the schools.
I should add that the New York Fed also claims the federal government’s Paycheck Protection Program “loans reached only 20% of eligible firms in states with the highest densities of Black-owned firms, and in counties with the densest Black-owned business activity, coverage rates were typically lower than 20%,” but that doesn’t really tell us anything about the nuances of why. If you want to not pass Go and jump directly to “institutional racism,” that’s your choice.
I’ll wait for the facts.
The bottom line is what killed all these small businesses — everyone’s small businesses, was the stupid, counter-productive, damaging, unnecessary, and totally unprecedented decision to quarantine those who are healthy and not even very much at risk.
This decision was politically-motivated by Democrats, Big Healthcare, and the fake media — and they now have what they want: the economy is in a shambles, Trump’s re-election campaign is on the ropes, and all the Trump policies that had delivered wage growth, the lowest recorded black unemployment rate, and overall prosperity to black America has been wiped out.