"Black Friday": Black people must gain control of our wealth
- Thread starter ridedolo
- Start date
See, you are going about this the wrong way. I am asking for data, not critiques about one of MANY of the jobs I have held over the years.
Answer my inquiry about that or concede you don't know and won't do the homework. I'm on the side of "spend black dollars with blacks", but instead of putting the numbers out, you on some other shyt.
For instance here
Know Your Worth: If We Don’t Know, We Can’t Grow Our Community
NAACP website quote
Now, in the very same video you linked, which I suppose you would stand by, Micheal Imhotep, President of the African History Network, says in 1910, more businesses per 100k blacks were
black owned vs today. So the question is where is that money going, since we have more money overall than they did in 1910. Add to the fact that Blacks have more upward mobility in relation
to the last century, and the population is larger.
Off the census site
https://www.census.gov/content/dam/Census/library/publications/2015/demo/p60-252.pdf
Median black household was $35,398 in 2014. The lowest on that chart, with hispanics just above us at $42,491. Now thats just the median so obviously it wavers wildly, but still paints a picture
of us being pretty low on the totem pole. Someone can do the math better than I, but if the numbers are 41.7 million blacks, thats 1.1 trillion between us all. But wait, those are only the reported
households, as people on the streets probably aren't being tallied. We see all this recession talk, lack of resources, our crumbling neighborhoods, etc. Where is our money going if its 1.1 trillion?
Just provide me that information. I'm not saying anyone is wrong, but you should know better than to trust any and everything people say. I just want to know what our money is going towards if
it only stays in our community for 6 hours before it leaves.
The first article state spending power is 1 trillion. How is that calculated??????
Never mind that your video says 1.1 trillion dollar economy?
How are these even the same thing?
Breh, I see this 1.1 trillion figure quoted all the damn time. Outside of the fact that most essentials are provided by non-blacks (clothing, food, etc) I don't know how much of that
money can be spent in community that isn't already tied into food, housing, daycare, etc.
Money management is needed, but when you don't have much, where logically is all this money going to go?
In the context of those articles it reads like we spend a lot of money we don't have on a lot of things we don't need. That doesn't equate to wealth. But if we could curb those dangerous spending habits a whole lot of companies that don't deserve our dollar would feel the hurt and I'm all for that
Dr Claude has been studying this issue for decades.
Dr Boyce was a finance professor for 20+ years. These aren't just "people". They're respected scholars in their field, but it seems like you can't accept that for some reason, and I think I know why...
this is the whole premise of the film
you must not live or interact with a lot of black people. you're really acting as if black people are ONLY spending money on necessities. you act as if you don't see gross materialism every day. At lunch i heard a black lady talking about her $2000 burberry coat. Can she afford it, possibly. Is it benefiting the black community for us to keep spending in this fashion? absolutely not. Mismanaged money is the core of the issue. people are buying $600 shoes when they make $2000 a month. The point is that $600 could be used more wisely, perhaps for investment, or saving, or spent at a black business. Loubiton aint kicking shyt back to the black community.
Act like there aren't millions of blacks who dont own a playstation, cable, xbox, games, flat screens, jordans etc. Not including money spent on sporting events, concerts, restaurants, and travel. Is there something wrong with this, not necessarily. But is it good for the black community as a whole - No.
If you don't want to "sacrifice" for the good of the black community as a whole, it's your choice and you have every right not to. But stop trying to discourage others from thinking outside the box. This is just a preview to the film that i'm sure will dive deeper into the issue, yet you're already forming strong opinions against it....
That's a good point. The way I see it is that while it doesn't equate wealth, it can contribute to wealth building. We need to think long-term breh.
GMOGMediaTV
GMOGMedia.tv
I posted a VLOG on my channel about the very same subject that also promotes the movie and I will try to do a screening in Miami too:
Dr Claude has been studying this issue for decades.
Dr Boyce was a finance professor for 20+ years. These aren't just "people". They're respected scholars in their field, but it seems like you can't accept that for some reason, and I think I know why...
this is the whole premise of the film
you must not live or interact with a lot of black people. you're really acting as if black people are ONLY spending money on necessities. you act as if you don't see gross materialism every day. At lunch i heard a black lady talking about her $2000 burberry coat. Can she afford it, possibly. Is it benefiting the black community for us to keep spending in this fashion? absolutely not. Mismanaged money is the core of the issue. people are buying $600 shoes when they make $2000 a month. The point is that $600 could be used more wisely, perhaps for investment, or saving, or spent at a black business. Loubiton aint kicking shyt back to the black community.
Act like there aren't millions of blacks who dont own a playstation, cable, xbox, games, flat screens, jordans etc. Not including money spent on sporting events, concerts, restaurants, and travel. Is there something wrong with this, not necessarily. But is it good for the black community as a whole - No.
If you don't want to "sacrifice" for the good of the black community as a whole, it's your choice and you have every right not to. But stop trying to discourage others from thinking outside the box. This is just a preview to the film that i'm sure will dive deeper into the issue, yet you're already forming strong opinions against it....
Again, I am NOT discounting this. What I am saying is, please show me the data so I can see what he sees. I know its macro level, covering the scope of black wealth on alleconomic levels. What I am saying is show me HOW me came to his conclusion, so I can agree or question his methods(might even do it directly). This isn't rocket science, breh, I said
I would do my research on 1.1 trillion and while I see this figure quoted time and again, I don't see the barometer for that. 1.1 spending power is saying "We have the power to put 1.1
trillion to work for us." True. But its a lot more complex than discretionary spending. Where is the housing? How much? What are blacks paying in taxes? Grocery bills? etc.
1.1 trillion is NOT being spent on Gucci belts and Fendi bags. How much of this is actually money that is spent, after bills, that can be afforded? And yes, assessing the debt load
of black families matter, cause while you can swipe a card to pay $50 for a black-created item for christmas, how much are they paying back to white-owned banks in interest and fees.
I said it in practically every message I posted: Spending, investing, saving, etc....all of that needs to be addressed for blacks to get the money working for ourselves. What I am asking of
*YOU* now, and ONLY because you quoted me with that bullshyt, is to provide the information that lead them to their conclusion, or did you take the word of the experts without finding out
how he came to his conclusion? We are not looking to discredit these dudes, just understand the data, the spending habits, and how that 1.1 trillion figure stands. I have no opinion on the video,
question is this often touted 1.1 trillion in spending power. 1.1 tril might be the whole, but the real discretionary spending might be just a few billion. Without the data, how are we to know where
the spending is? Counting people we see's pockets doesn't help cause we have no idea what else people are spending on. Just please, do we have data explaining the numbers?
economic levels. What I am saying is show me HOW me came to his conclusion, so I can agree or question his methods(might even do it directly). This isn't rocket science, breh, I said
I would do my research on 1.1 trillion and while I see this figure quoted time and again, I don't see the barometer for that. 1.1 spending power is saying "We have the power to put 1.1
trillion to work for us." True. But its a lot more complex than discretionary spending. Where is the housing? How much? What are blacks paying in taxes? Grocery bills? etc.
1.1 trillion is NOT being spent on Gucci belts and Fendi bags. How much of this is actually money that is spent, after bills, that can be afforded? And yes, assessing the debt load
of black families matter, cause while you can swipe a card to pay $50 for a black-created item for christmas, how much are they paying back to white-owned banks in interest and fees.
I said it in practically every message I posted: Spending, investing, saving, etc....all of that needs to be addressed for blacks to get the money working for ourselves. What I am asking of
*YOU* now, and ONLY because you quoted me with that bullshyt, is to provide the information that lead them to their conclusion, or did you take the word of the experts without finding out
how he came to his conclusion? We are not looking to discredit these dudes, just understand the data, the spending habits, and how that 1.1 trillion figure stands. I have no opinion on the video,
question is this often touted 1.1 trillion in spending power. 1.1 tril might be the whole, but the real discretionary spending might be just a few billion. Without the data, how are we to know where
the spending is? Counting people we see's pockets doesn't help cause we have no idea what else people are spending on. Just please, do we have data explaining the numbers?
lol its measured by nielsen. do you know what that is or do i need to hold your hand on that too
i'm listening now. so far it sounds very well thought-out. I see you know about Dr. Frances Welsing
Respect. Holding a screening is very powerful. Make some money, get some vendors, spread the knowledge. Practice what you preach
YeLovesBoston
Superstar
good shyt. Really interesting. This group I plan on getting almost all, if not all, of the gifts for family from black businesses