Falling off the Fiscal Cliff
James Clingman | 11/28/2012, 12:16 p.m.
Offers of credit cards, layaway plans, rent-a-couch or a Big Screen TV, and other schemes to get money out of your pocket will intensify over the next few days. Watch out! You may get into that debt now and regret it later, especially if Congress and the president do not solve the fiscal cliff issue. On January 31, 2013, you will find yourself with more month than money if you are not careful.
While I sincerely do not believe the boys and girls in Washington will allow us to fall, jump, or be pushed off the fiscal cliff, I do believe that whatever they decide and agree upon will hurt those at the bottom tier of the economy.
So until Black people learn how to refrain from being the best consumers in the entire world, and produce goods and services to a much greater degree than we do now, we had better learn how to respond appropriately to national and international fiscal issues. Keep your money in your pocket, the same way big corps are keeping their cash on the sideline, and hold it until you see what direction this nation will be taken by those in charge of it.
You can get that big screen TV, that new car, and that entertainment system later. Believe me, the manufacturers will be waiting for your dollars next year, and as Jay Leno used to say in his Doritos commercial, "[They'll] make more."
Jim Clingman, founder of the Greater Cincinnati African American Chamber of Commerce, is the nation's most prolific writer on economic empowerment for Black people. He is an adjunct professor at the University of Cincinnati and can be reached through his Web site, blackonomics.com.