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

[scarlxrd]

Dope thread. I'm seriously making more conscious strides to spend my money more wisely. I'm definitely going to leave bills if I died right now, I wanna change that though. More than anything really.

 

[ridedolo]

Dope thread. I'm seriously making more conscious strides to spend my money more wisely. I'm definitely going to leave bills if I died right now, I wanna change that though. More than anything really.

Same here man. I'm trying to live that minimalist lifestyle and get this rental property.

For me, learning about this subject puts things in the proper perspective and helps me make better financial decisions. All of us are bombarded with messages encouraging us to consume, and most go along with the "program" without ever stoping to question the ramifications for our community . I'm glad this subject is being brought up more frequently. We need more critical thinking about it.

 

[At30wecashout]

lol its measured by nielsen. do you know what that is or do i need to hold your hand on that too

See, there you go again slick belittling me, when im trying to have a conversation in another thread of yours that postures an idea, but doesn't give the raw data.

The Nielsen numbers do the same. They speak of a 1.1 trillion dollar figure, but that is not necessarily money that can be spent towards consumer goods like electronics,
clothing, etc.

Report Highlights

• With a buying power of nearly $1 trillion annually, if African-Americans were a country, they’d be the 16th largest country in the world.
  
  
  
  
• The number of African-American households earning $75,000 or higher grew by almost 64%, a rate close to 12% greater than the change in the overall population’s earning between 2000 and 2009. This continued growth in affluence, social influence and household income will continue to impact the community’s economic power.
  
  
  
  
• African-Americans make more shopping trips than all other groups, but spend less money per trip. African-Americans in higher income brackets, also spend 300% more in higher-end retail grocers more than any other high income household.
  
  
  
  
• There were 23.9 million active African-American Internet users in July 2011 – 76% of whom visited a social networking/blog site.
  
  
  
  
• 33% of all African-Americans own a smartphone.
  
  
  
  
• African-Americans use more than double the amount of mobile phone voice minutes compared to Whites – 1,298 minutes a month vs. 606.
  
  
  
  
• The percentage of African-Americans attending college or earning a degree has increased to 44% for men and 53% for women.

Thats all they say. This says nothing about the debt of black households, how many households own vs rent, how much of that cash is concentrated in top 10% earners

in the black community, etc, etc, et fukking cetera. What I am getting at is WHERE is this 1.1 trillion figure coming from, so we know if they are counting all expenses vs

spending on luxuries. This is coming directly from the NAACP:

“Now we see it as a drain on African Americans trying to gain a middle-class life.” Released earlier this month, the report, The Challenge of Credit Card Debt for the African American Middle Class,” found that 42 percent of households are relying on their cards for basic living expenses when income and savings fall short.

Also

Today, Black Americans have $1 in assets for every $20 owned by White Americans, and, according to the study, more than half of it is tied to home ownership. Only 55 percent of the study’s Black respondents own their home, compared to 72 percent of White respondents.

So, while we have a oft repeated 1.1 trillion in spending power, just how much is being spent on non-essentials? Without that number, the cash being spent on black-owned
non essentials may not be enough to reverse the trend of black disenfranchisement because our community is spread throughout the country. Its like if we all skipped an Xbox
and spent $300 on a black marketplace online. Black people see the dollars, which is admirable. But there is another problem:that money probably isn't taxed locally, so while we spend,
that money still isn't in YOUR town, paying your taxes, and keeping your streets working. Black dollars get sucked out at rapid pace, but we can't pretend we have beaucoup cash that
we piss away. You do know what Cost of Living is, right? The same dollars we spend are worth less with every inflationary tick.

Find out why these guys quote 1.1 trillion in aggregate, but not just discretionary spending.

 

[At30wecashout]

Dumb nikkas arguing over the number and not the fukking point. Jesus Christ you nikkas ain't shyt.

It does matter, they can't keep quoting 1.1 trillion and not tell us where its going. It's one thing to say spend black first, another to say "You are worth 40k annually" when
most of that goes to necessities, not cash being spent in stores for consumer goods. I was gonna tag you about your growing your own stuff.

 

[ridedolo]

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:

i just finished it. excellent, excellent video. I love that you tied in post traumatic slave syndrome and stressed that it's our mentality we need to change. I always leave out the massive amount of money blacks contribute to the Christian Church I also didn't know that cooperative economics was practiced in Kwanza

I'm definitely going to check out more of your vids. I'm glad you posted it. Please keep dropping those gems breh. Each one teach one.

 

[TRAP AMERICAN TV]

Yo! Breh I only got $600.00 to my name give me some advice on how I can turn this into $1200.00 please







-Bumms Mcgee

 

[Phoenix Hoely]

Dude is making this more difficult than it is and honestly, what he is asking has nothing really to do with the message of the video. It seems to me that the money black people spend on luxury items can be the same money they could use to invest in businesses and each other.

 

[At30wecashout]

Dude is making this more difficult than it is and honestly, what he is asking has nothing really to do with the message of the video. It seems to me that the money black people spend on luxury items can be the same money they could use to invest in businesses and each other.

Least tag me

Thats a fair point. But you can't keep quoting 1.1 trillion like ALL OF THAT can be spent that way. The rest is spot on, but saying 1.1 trillion is almost like saying "This all can be spent
within the black community" when thats not the case.

Discretionary spending should be spent better, but we can't assume everybody is spending their cash like that on frivolous shyt. Its not everyones situation.

 

[ridedolo]

Least tag me

Thats a fair point. But you can't keep quoting 1.1 trillion like ALL OF THAT can be spent that way. The rest is spot on, but saying 1.1 trillion is almost like saying "This all can be spent
within the black community" when thats not the case.

Discretionary spending should be spent better, but we can't assume everybody is spending their cash like that on frivolous shyt. Its not everyones situation.

when did anyone ever say every black person? It seems like you're really trying to make an argument when there is none.

again, you must live a very sheltered existence around perpetually broke people if you think there's not a large segment of the black population spending frivolously. America in general practice gross consuermism but it affects the black community more since we're in a unique situation - you know with the history of slavery, disenfranchisement, jim crow laws, denial of education, forced ghettos etc...

How do you think Black Wall Street was able to build a thriving community in 1920??? It was because they united and used the little resources they had to build a community more prosperous than whites. in the early 1900s...

 

[PhonZhi]

Meanwhile

http://www.thecoli.com/threads/the-new-jordan-maroon-6s-tho.378495/

 

[ridedolo]

See, there you go again slick belittling me, when im trying to have a conversation in another thread of yours that postures an idea, but doesn't give the raw data.

The Nielsen numbers do the same. They speak of a 1.1 trillion dollar figure, but that is not necessarily money that can be spent towards consumer goods like electronics,
clothing, etc.

Thats all they say. This says nothing about the debt of black households, how many households own vs rent, how much of that cash is concentrated in top 10% earners

in the black community, etc, etc, et fukking cetera. What I am getting at is WHERE is this 1.1 trillion figure coming from, so we know if they are counting all expenses vs

spending on luxuries. This is coming directly from the NAACP:



Also



So, while we have a oft repeated 1.1 trillion in spending power, just how much is being spent on non-essentials? Without that number, the cash being spent on black-owned
non essentials may not be enough to reverse the trend of black disenfranchisement because our community is spread throughout the country. Its like if we all skipped an Xbox
and spent $300 on a black marketplace online. Black people see the dollars, which is admirable. But there is another problem:that money probably isn't taxed locally, so while we spend,
that money still isn't in YOUR town, paying your taxes, and keeping your streets working. Black dollars get sucked out at rapid pace, but we can't pretend we have beaucoup cash that
we piss away. You do know what Cost of Living is, right? The same dollars we spend are worth less with every inflationary tick.

Find out why these guys quote 1.1 trillion in aggregate, but not just discretionary spending.

lol you're really reaching breh. keep it moving, this thread aint for you.

 

[Phoenix Hoely]

Least tag me

Thats a fair point. But you can't keep quoting 1.1 trillion like ALL OF THAT can be spent that way. The rest is spot on, but saying 1.1 trillion is almost like saying "This all can be spent
within the black community" when thats not the case.

Discretionary spending should be spent better, but we can't assume everybody is spending their cash like that on frivolous shyt. Its not everyones situation.

You're right about about 1.1 billion being our buying power on "luxury" goods alone. But according to Nielsen, "Currently 43 million strong, African-American consumers have unique behaviors from the total market. For example, they’re more aggressive consumers of media and they shop more frequently. Blacks watch more television (37%), make more shopping trips (eight), purchase more ethnic beauty and grooming products (nine times more), read more financial magazines (28%) and spend more than twice the time at personal hosted websites than any other group". I don't know if you posted this before, but this quote alone does show we do have a significant amount of buying power.

 

[Jhoon]

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

The boycotts weren't the reason they succeeded. I think it was the unison we had with each other, the driving each other around, and ultimately not really needing public transportation overall that made the boycott successful.

 

[Phoenix Hoely]

"African-Americans make an average of 156 shopping trips per year, compared with 146 for the total market. Favoring smaller retail outlets, blacks shop more frequently at drug stores, convenience stores, and dollar stores. Beauty supply stores are also popular within the black community, as they typically carry an abundance of ethnic hair and beauty aids reside that cater specifically to the unique needs of African-American hair textures. Overall, health and beauty supply stores have an average household penetration rate of 46 percent among African-Americans, and the average black household spends an average of $94 in this store channel each year, providing a significant opportunity to connect with black shoppers"

 

[ridedolo]

The boycotts weren't the reason they succeeded. I think it was the unison we had with each other, the driving each other around, and ultimately not really needing public transportation overall that made the boycott successful.

he's white. dont entertain him. he made sure he posted here in hopes of us going back and forth to derail the thread...about black economics. A racist white troll who reps "cac set" now has a pic of farrakhan and ali in his profile pic