By Charles N. Lambert
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So far it has been estimated that the world has lost over $ 9 trillion dollars already since the global lockdown from the threat of Corona Virus began. In the US, over 6 million people have asked the government to begin paying their bills by filling unemployment. In the UK, request for government benefits have soared to record highs. US government is practically giving away $2.2 Trillion dollars to help their citizens and the economy. The UK government is paying 80% of wages for a significant number of people and countless more envious information reaching the African shores as palliatives for these Westerners. So What about Africans?
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Aid and welfare are some of the worst things in the world yet most people especially in Africa do not know that. The West provides Aid to Africa and investments in their nations. America as a nation is built on anti-welfare mentality and philosophy and they are the richest country in the world. One of their greatest leaders Abraham Lincoln took a very negative position to welfare saying that “You cannot help men permanently by doing for them what they could and should do for themselves”. Black American Thomas Sowell had this to say about welfare “The welfare State has always been judged by its good intentions rather than its POOR RESULTS”. The summary is that welfare does not work; it is not sustainable and does not lead to progressive development of the person. So how will African middle class recover from the Covid 19 Pandemic economically?
The Covid 19 economic hardship came from disruption in only ONE of the factors of production-labour. The virus does not attack money! This means Capital as a factor of production is immune to Covid 19 pandemic and can continue to work with technology to bring financial returns even in the worst of the epidemic. This is the only reason why the stocks and shares of Amazon( online retail company) is soaring through the roof as Westerners are busy investing their capital RIGHT NOW in the technology centered corporations which has little or no need for human gathering to produce. The value of the online business meeting company Zoom just added a further $2 billion dollars in this same period, the owner of Twitter gladly gave away $1 billion dollars to fight Covid 19 knowing his time to profit immensely is here and while Facebook is now totally jammed with traffic. The internet and those who invested in it have won!
The Black Wall Street has created a pragmatic economic relief path for Africa’s middle class through a derivative of UPAP known as “Covid 19 UPAP”. This highly compassionate investment program is designed to help the middle class avoid the coming devastating economic impact of the COVID 19 pandemic lockdowns. Instead of paying $500 for the UPAP slot, you pay $50 and use your returns to pay off the cost of the UPAP, receive the computer tablet shipped to your door and continue to enjoy the $100 per month for another 9 months and at which point, you should have recovered from the Covid 19 economic downturn. (This UPAP derivative also offers no cash out value and limited to 10,000 slots).
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