"Black Friday": Black people must gain control of our wealth

[ridedolo]

Dr Watkins posted this on his page. Trailer to a new movie that discusses black wealth and spending habits.


"1.1 trillion dollar economy, if we were a nation we'd be the 16th richest nation in the entire world."

 

[VegasCAC]

The power of boycotts is proven to change shyt- MLK proved that. Economic power is what drives capitalist societies.

 

[TRAP AMERICAN TV]

I'm going to check it out

 

[At30wecashout]

Imma have to do my research on the 1.1 trillion dollar figure, cause while spending habits are fukked up, I wonder how much of that is money is spent on luxuries vs essentials.

 

[CrimsonTider]

1.1 trillion dollar economy

How are y'all deriving at this number?

 

[CrimsonTider]

Imma have to do my research on the 1.1 trillion dollar figure, cause while spending habits are fukked up, I wonder how much of that is money is spent on luxuries vs essentials.

essentials outpace luxuries by a lot.

Im going to go out on a limb and say that 1.1 trillion number is bogus

 

[ridedolo]

essentials outpace luxuries by a lot.

Im going to go out on a limb and say that 1.1 trillion number is bogus

lol going out on a limb vs the research of multiple finance phds. which one should i listen to

 

[ridedolo]

Imma have to do my research on the 1.1 trillion dollar figure, cause while spending habits are fukked up, I wonder how much of that is money is spent on luxuries vs essentials.

ya'll coli dudes never cease to amaze me.

your internet research vs dr claude andersons finance phd

 

[At30wecashout]

essentials outpace luxuries by a lot.

Im going to go out on a limb and say that 1.1 trillion number is bogus

I kinda wonder. Again, I see stupid spending all the time, but 1.1 one trillion has to be eaten up in rent, healthcare (for those who have it) child support (for those who pay), food, etc.

Especially with the middle class, namely black middle class, taking a dive, most people are living check-to-check, and a job loss would be devastating as there are no savings.

Money management should be a basic fundamental in th e community, but I don't know if I believe there is a huge stimulous like that in a population so small. Has Watkin's left a

source for the $1.1 trillion figure? Cause that sounds like a combination of media, land ownership, etc...aka assets, not liquidity.

 

[ridedolo]

I kinda wonder. Again, I see stupid spending all the time, but 1.1 one trillion has to be eaten up in rent, healthcare (for those who have it) child support (for those who pay), food, etc.

Especially with the middle class, namely black middle class, taking a dive, most people are living check-to-check, and a job loss would be devastating as there are no savings.

Money management should be a basic fundamental in th e community, but I don't know if I believe there is a huge stimulous like that in a population so small. Has Watkin's left a

source for the $1.1 trillion figure? Cause that sounds like a combination of media, land ownership, etc...aka assets, not liquidity.

did you watch the video?

 

[At30wecashout]

ya'll coli dudes never cease to amaze me.

your internet research vs dr claude andersons finance phd

I'm not saying its wrong. Is there a link to his sources? I've seen this figure quite a bit but I wonder how much is actually in the pockets of black folks, rather

than the net worth (cause net worth and cash on hand are not the same things.) Also, whats the typical debt load a black family holds?

These are valid questions cause if you are always one paycheck from the poorhouse, where is your money going? I just wanna see the data.

 

[At30wecashout]

did you watch the video?

Yes, and they said "we are a 1.1 trillion dollar economy." Where is the money going? That makes a difference. I'll say it again, sensible spending, saving, and investing is VERY important, but

where is this money going. Guy in the video himself said that there are less black owned businesses today than 1910. Considering how many of our people are in poverty, are they

not spending pretty much all they have just living?

 

[ridedolo]

Yes, and they said "we are a 1.1 trillion dollar economy." Where is the money going? That makes a difference. I'll say it again, sensible spending, saving, and investing is VERY important, but

where is this money going. Guy in the video himself said that there are less black owned businesses today than 1910. Considering how many of our people are in poverty, are they

not spending pretty much all they have just living?

aren't you a barista? since when did you become a finance expert? What's your educational background in regards to this subject matter? do you think these scholars ever considered your questions, or are you providing ground breaking reasoning?

 

[Will Ross]

Yes, and they said "we are a 1.1 trillion dollar economy." Where is the money going? That makes a difference. I'll say it again, sensible spending, saving, and investing is VERY important, but

where is this money going. Guy in the video himself said that there are less black owned businesses today than 1910. Considering how many of our people are in poverty, are they

not spending pretty much all they have just living?

Most people money is going on bills for everyday things like food

 

[KingSlime]

I'm not saying its wrong. Is there a link to his sources? I've seen this figure quite a bit but I wonder how much is actually in the pockets of black folks, rather

than the net worth (cause net worth and cash on hand are not the same things.) Also, whats the typical debt load a black family holds?

These are valid questions cause if you are always one paycheck from the poorhouse, where is your money going? I just wanna see the data.

I was wondering the same thing. In the last statistics I read (2010) 33.9 percent of black American households have a negative net worth (debt) and the average net worth amongst African Americans was around 5,000. If Boyce's number is true then things must have gotten a lot better in the black community