The Myth of Black “Buying Power"

[Poitier]

If that is the case We'll be long dead before we see black people prosper

Africa will never get their shyt together, corruption is too rampant and their leaders have no incentive to while they suckle white supremacist teets

Most of the old guard will be dead soon. I'm willing to see what young Africans do.

 

[Poitier]

In short, your own country, correct?

You can have your own country and not have any of those things i.e. most of Africa, but it helps.

 

[Vonte3000]

I am not a big believer in support black businesses and i am a black business owner. I believe we should support quality products and if the product is distributed by a black or a white distributor, then we should go with the black distributor.

But quality comes before anything. I will not be loyal to a subpar product.

That's not even a problem, nobody discusses quality until black people come in the mix. Quality from our service is on par if not better than anyone else's. Not selling a quality product is suicide unless you're Apple

 

[MegaManX]

That's not even a problem, nobody discusses quality until black people come in the mix. Quality from our service is on par if not better than anyone else's. Not selling a quality product is suicide unless you're Apple

it is a problem. I live in Jamaica, Queens and sometimes these businesses open up that are just straight pititful.

90% of all business fail regardless of race. Product quality is everything.

 

[Birnin Zana]

You can have your own country and not have any of those things i.e. most of Africa, but it helps.

Right. Ideally, having such things under the protection of a sovereign--and well-functioning--nation would be preferable, I think.

 

[Broke Wave]

@Poitier ive been making threads and refuting this group economics snake oil for years onhere.

Its nice to see a few people are kinda woke

 

[Vonte3000]

it is a problem. I live in Jamaica, Queens and sometimes these businesses open up that are just straight pititful.

90% of all business fail regardless of race. Product quality is everything.

I've only been to Jamaica once and it seems like aresources are just lacking down there

Apart from the Reggie

@Poitier ive been making threads and refuting this group economics snake oil for years onhere.

Its nice to see a few people are kinda woke

I still would like a more clear solution, we're basically sitting ducks until Hispanics pass us in population size. Seems like we should just head over to Johannesburg now, though I don't know if Africans will even be accepting towards us

 

[Poitier]

I still would like a more clear solution, we're basically sitting ducks until Hispanics pass us in population size. Seems like we should just head over to Johannesburg now, though I don't know if Africans will even be accepting towards us

Instead of yelling about STEM, I'd love to see AAs focus on banking and finance.

 

[Tilesp4p]

I don't get the purpose of this article. Regardless of whether black people have wealth, the amount of money we spend is able to support a multitude of industries.

Black people could bankrupt or at least de-stabilize a lot of major corporations if they chose to spend their money elsewhere.

Dapped and Repped. Regardless of what our buying power is, the money we are spending could be better allocated. Even if we only have 1 BILLION in buying power, we could without a doubt use it on buying from black businesses and improve our current situation instead of supporting all these outside owned businesses.

 

[Vonte3000]

Instead of yelling about STEM, I'd love to see AAs focus on banking and finance.

That too would take a long time as well, we're already financially illiterate (not all but most)
Banking would require us to swing in the opposite direction of where we're going career wise as far as I know

If our spending power really is lacking we need to get a definite number and up divvy resources

Every possible solution we come up with requires huge hurdles, that's why I feel like education is really our biggest problem luckily we're getting there with college graduate rates increasing...but then they just have large amounts of debt setting them back further

Incidentally I googled something and apparently there are 21 black owned banks in this country with assets of 4.7 billi That 4.7 billi number could be funky too though

 

[Akata Man Bromo]

Thread got me feeling a little hopeless Let me read more of the links posted

 

[Poitier]

That too would take a long time as well, we're already financially illiterate (not all but most)
Banking would require us to swing in the opposite direction of where we're going career wise as far as I know

Finance and Accounting aren't too intensive IMO.

 

[PikaDaDon]

I've only been to Jamaica once and it seems like aresources are just lacking down there

Apart from the Reggie

I was thinking that maybe we should take advantage of our increasingly globalized economy.

Perhaps start a business where a product can be cheaply made in Jamaica (manufacturing base) and sold to white Americans (consumers) or American-based store fronts (retail). That way you would have some wealth extracted from the US economy and into Jamaica. Reinvest your profits in education, agriculture, infrastructure, etc. This would have to be done yourself and not through government.

The biggest obstacle in Jamaica or any other poor country is its inefficient, corrupt, inadequate central government. Perhaps you could use your newfound money to influence elections and push/endorse the right guy.

I still would like a more clear solution, we're basically sitting ducks until Hispanics pass us in population size. Seems like we should just head over to Johannesburg now, though I don't know if Africans will even be accepting towards us

 

[Blackout]

Dapped and Repped. Regardless of what our buying power is, the money we are spending could be better allocated. Even if we only have 1 BILLION in buying power, we could without a doubt use it on buying from black businesses and improve our current situation instead of supporting all these outside owned businesses.

Yep, and this is simple thing we can do right now that will prep our people to be able to make the bigger moves that are suggested in this thread.

 

[EndDomination]

If this were the case then Tulsa Oklahoma shouldn't have even been possible

The black dollar doesn't need to topple white supremacy just provide for our communities, before integration we had our own businesses and rail roads that was only possible with the spending power of the black dollar.

Mexicans can come in this country and support themselves off a meager wage, immigrants save up for years doing bullshyt and open businesses, there is no reason black people can't do the same thing

Most Mexican immigrants are still impoverished in the US
Why do people keep using this anecdotal vague ideas about what other races do to support Black business ideas?