What the Obama administration is practicing in America has been done in other countries, and it’s called “Black Ownership Laws.”
Black Ownership Laws are an attempt to get payback for what Africans view as “colonialism” of the Africa (and everywhere else) by Europeans, or so say the Left.
Redistribution has been practiced in African countries for some time, and is essentially the transfer of wealth from investors (usually white) to the indigenous blacks. This type of transfer happens by executive decree, as it never works in the long run.
Though Obama is intent on the continued reparations, and taking the money from people who are actually productive, Zimbabwe has decided to tone down their “equity law” that forces foreign companies to cede 51 percent of their businesses to local “investors.”
In case you are wondering why the American economy is in shambles, look at what’s happening in a country with another African leader.
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In Zimbabwe, the 2007 decree spooked investors, sending the Zimbabwe economy into hyperinflation. The only difference between the US and Zimbabwe in terms of policy is the GDP of the United States doesn’t allow the impact of Obama’s wealth transfer policies to show.
Information Minister Jonathan Moyo said to the state-owned Sunday Mail:
“We are reviewing and tightening the indigenisation and empowerment policy by being pragmatic without being dogmatic about it…(Foreign) investors will be allowed to recover their initial capital investment, an appropriate return on investment and operational costs before the sharing of production outputs or profits.”
It’s official…Obama is African!
You don’t have to be a genius to understand that Obama believes the same as the leader of Zimbabwe, Robert Mugabe. Obama believes that America colonized black people, and that is the reason blacks can’t get ahead. So Obama penalizes anybody profiting in America, particularly whites. But Obama requires nothing of blacks (except the vote) who get a small piece of the bounty, or as LBJ said, “…just enough to quiet them down, not enough to make a difference.”