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Friday, April 12, 2019

"Reparations" Georgetown University Can't Do Basic Math -- Misses the Real Points Entirely

Just some real basic math to bring this "policy" into perspective.

Georgetown University had some slaves, which they had purchased prior to 1838.

A salient point -- they were slaves before the sale, and they were slaves after the sale.   So what changed?    Not their value, not their lot in life.   The whole premise that "slaves saved the university" is faulty.    If they had sold off some blacksmith equipment, would it make sense to compensate modern metal workers or metal working manufacturers?

Sure it's a "nice idea" and it stinks to high heaven of social justice warriors run amok.

The University was is financial dire straits, and they were forced to sell 282 slaves, for $17,000.

Thats right around $60 each.  

In 1838 the price of Gold was right around $20 per ounce.    So each slave was sold for about 3 ounces of gold.

Gold fluctuates, especially now, but lets call it $1200 per ounce, a 60 fold increase.

So an "inflation adjusted" value would be 17,000 times 60 = $1,024,823 in 2019 "Dollar Value of Gold"

The article comes up with an inflation adjusted $465,000 without describing how they did it, I like my method much better. 
After say 6 generations (maybe 8) there would be roughly 720 descendants for each original person.    Some would have never had kids, or had accidents, so lets just cut that in half.     360 descendants for each of the 282, or roughly 101520 total descendants.

$1,024,823 / 101520 is roughly $10 per person.     If that were the intention, to split up the inflation adjusted value to all the modern day descendents, it would be a horrible "project" with the administration costs running 50 times the out pay.     And $10 wouldn't matter a hill of beans towards improving anyone's life.

Also noted in the story they said that it was 40 families, or roughly 7 per family.   Think about that a bit, and draw your own conclusions.

----------------------------------------   Modern financing

Apparently, there was no "sunset provision" in the "bill".    No ending point discussed.

But at $27 per semester and assuming 7000 students, that is $189,000.  

So it would take about 5 semesters to build up the $1M current "value"

Then what?

We know the Globalists have many divisive agendas, treasonous to the USA, and one is fanning the flames on a race war.     And it's also pandering for black votes.

Georgetown University has a $1.662 Billion endowment fund -- but let's nickel and dime kids some more as if it was their fault that Georgetown has a shady past that the University wants to pay reparations for.   I guess instilling the SJW program into their heads is important.

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