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

[At30wecashout]

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...

I wasn't making an argument, you quoted me

ya'll coli dudes never cease to amaze me.

your internet research vs dr claude andersons finance phd

I dapped you, and was gonna leave it at that, because once again, you were not going to answer any questions, but just insult and brush me off.

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

Like this
Remember, Black Wall Street also didn't have to compete with online stores, ease of travel we have today, etc. They literally had a concentration of wealth, and control over
the land they were on, which is quite different from whats going on today. It's not that we can't get there, but folks need a strategy. The well-to-do black folk don't outnumber
the poor (I'm around both) so with the knowledge of where and how that money is going out, you can put on paper what needs and wants of the black community aren't
being fulfilled by other blacks, and entrepreneurs can fill the gap. Not every black person's luxury is the same thing. One might spend on an Xbox, I might spend on a pair of skate shoes.
Two very different things, and two potential markets for blacks to capitalize on.

 

[At30wecashout]

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.

Exactly. And thats never to be questioned. Its the 1.1 trillion figure. Like the difference between profit and revenue, we can't say "we are worth 1.1 trillion but are collectively not doing anything with it"
without detailing why. Many can tell you, its just daily expenses, not Xbox, fancy shirts, and Jordans.

 

[Mr Rager]

I think it needs to go beyond boycotting. We need more black owned businesses in black neighborhoods. I know, easier said than done

 

[ridedolo]

I think it needs to go beyond boycotting. We need more black owned businesses in black neighborhoods. I know, easier said than done

why ya'll keep talking about boycotts? thats not what the video/film is about. lol did u even watch it?

 

[scarlxrd]

All of us are bombarded with messages encouraging us to consume

Since birth, breh. That's why I don't get on people for not understanding. You've--we've been taught our whole lives to work to get something and that something is usually some bullshyt that depreciates in seconds after purchase. I feel like all I can do now is try to keep all the kids around me educated on how to handle money; something I was never taught.

 

[Phoenix Hoely]

Exactly. And thats never to be questioned. Its the 1.1 trillion figure. Like the difference between profit and revenue, we can't say "we are worth 1.1 trillion but are collectively not doing anything with it"
without detailing why. Many can tell you, its just daily expenses, not Xbox, fancy shirts, and Jordans.

Yeah, but, I don't know if you're conscious of this or not, you're downplaying the power of black dollars by alluding that most of this money is spent on basic necessities like light, water, gas, etc, etc when studies have shown that we shop more than average, but actually own less.

 

[Responsible Allen Iverson]

Dude at 0:19 looked fresh as hell

 

[At30wecashout]

Yeah, but, I don't know if you're conscious of this or not, you're downplaying the power of black dollars by alluding that most of this money is spent on basic necessities like light, water, gas, etc, etc when studies have shown that we shop more than average, but actually own less.

Nah, im not downplaying it. The studies show we shop more than average, which means someone knows the numbers behind it. It can be spent MUCH better than it is. What I don't understand
is when speaking of spending black dollars, it almost inevitably includes the entirety of wealth, when that entirety isn't being spent on luxury goods.

Yea yea, i'm done harping on 1.1 trillion, but it was right in the OP so I'm trying to find a black tailor near me to take in dozens of shirts and pants I have for repair so we all have

to do our part.

 

[Phoenix Hoely]

Nah, im not downplaying it. The studies show we shop more than average, which means someone knows the numbers behind it. It can be spent MUCH better than it is. What I don't understand
is when speaking of spending black dollars, it almost inevitably includes the entirety of wealth, when that entirety isn't being spent on luxury goods.

Yea yea, i'm done harping on 1.1 trillion, but it was right in the OP so I'm trying to find a black tailor near me to take in dozens of shirts and pants I have for repair so we all have

to do our part.

Ok, ok, I can see your point, now.

 

[Big Boda]

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.

I think you're making a strawman argument with that because nowhere in the video did they suggest the 1.1trillion figure being disposable spending money.

Considering the video is only a trailer you're kind of making something out of nothing because you assume they aren't elaborating on the trillion dollar figure in the film. Its not really up to @ridedolo to crunch the numbers and defend the film breh.

The only way to get clarity on your questions is for you to check out Claude Anderson's work for yourself he is meticulous with the economic info in his Powernomics book.

 

[At30wecashout]

I think you're making a strawman argument with that because nowhere in the video did they suggest the 1.1trillion figure being disposable spending money.

Considering the video is only a trailer you're kind of making something out of nothing because you assume they aren't elaborating on the trillion dollar figure in the film. Its not really up to @ridedolo to crunch the numbers and defend the film breh.

The only way to get clarity on your questions is for you to check out Claude Anderson's work for yourself he is meticulous with the economic info in his Powernomics book.

I wasn't challenging the movie due to the quoted figure. I've seen the 1.1 trillion figure, followed up with some variation of "Why are we not prospering" or something along those
lines. That very question would be answered by looking at where that money is being spent, and that would highlight how underpaid and underemployed blacks are relative
to others, and the fact that we are lacking in black-owned businesses. I was not questioning the film, just the figure, which happened to be posted right in the OP.

After seeing it a dozen times, all I said was I had to do my googles. I wouldn't have went in if Ride didn't quote me. Trust me, I didn't wanna do all that typing just because.
I am looking for the answers myself, cause as I said in my first post in this thread, I gotta do my googles.

No quotes calling me out, no long ass retorts that might detract from what the thread originally was about.

 

[Imhotep2]

We definitely have a problem in regards to materialism. The worst thing you can be in most black communities across the country is "broke" so because of this you have black folks spending excess amounts of money on things that only depreciate in value such as shoes, cars, jewelry, hair, etc in order to show that we are not broke. Ironically, as a collective we have the lowest net worth and lowest annual take home income of all racial groups, yet if I was an alien who just landed in America knowing nothing about economics and using my eyes to make my judgements, I would assume that African Americans were the richest group on the planet because of all the materialistic things we own.

We need to re-prioritize and start thinking long-term so that we can pass some wealth down to our children and their children's children. We also need to learn how to control the sectors in which we represent a disproportionate amount of the customer base. For example, black women make up less than 7% of the population, but according to the stats above make up nearly 40% of consumers of hair and beauty products. Most of that money is going to korean hair store owners and indians, both of these groups of people hate our guts yet we willingly throw money at them. We need to put an end to that and show how powerful our dollar is.

 

[iFightSeagullsForBread]

Didn't watch\read

@ridedolo 's a fakkit.

 

[VegasCAC]

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.

You're probably right in terms of method in that specific instance, but the point is that in this capitalist country to effect change you have to hit them where it hurts- their wallet.

It's harder to do now with how integrated corporations are in our society but I really think that mass organized boycotts with online registries and clear delineations of who owns what and what not to buy could really be a powerful force in this country. The power of the dollar breh. You'd be surprised (or maybe unsurprised) at how strongly the multinational corporations that run this country via lobbying would react to that.

 

[PhonZhi]

if I was an alien who just landed in America knowing nothing about economics and using my eyes to make my judgements, I would assume that African Americans were the richest group on the planet because of all the materialistic things we own.