The Myth of Black “Buying Power"

[Blackout]

Must admit that what I can't stand about the people in the "black group economic" circle and trust me I use to be apart of that circle, but anyways what I can't stand about people from that circle is that they love to always bring up the minority myth, not releasing that successful minorities here are a result of "selective immigration", especially Asians.

But anyways take this silly ass video for example.


The guy himself in the video looks like a dusty nikka himself and yet he is trying to put down blacks. But getting to the point, he and other blacks in that circle is that they see there are no "ma & pa shops" in the black community like there are with Latinos, Asians Indians,etc and be like "SEE! SEE! Blaks dont pratice gROUP economiks like da ASIANS! Blaks r DOOM! Dur dur!"

These people not only don't know basic economics, but also capitalism. Sure, non-black minorities like Asians and Latinos have more "businesses" if you wanna call them that than blacks. But how much are these Asian and Latino businesses taking home? I see more and more blacks going to college and trying to get degrees. Which is more important ma and pa shops or degrees.

Lets just give an example of how capitalism works. And to me its about "exploitation" whether negative or even positive.

For example. I have my own "ma & pa" business which I have employees work under me. I'm exploiting those employees, but I only bring home $5,000 a month.

Second example. I get my bachelors degree and get a good career. I'm an employee and I'm getting exploited, but I bring home $10,000 a month.

Which is better? Me I would take the bachelors route. To me that's capitalism in a nutshell. The guy in the video clearly doesn't get this.

These people in the black group economic circle don't understand that group economics is essential for immigrants because they are new to the country, need to stick together and there are language barriers. I have heard of Dominicans who can't leave Washington Heights because of language barriers and can't find a good job outside there communities. African-Americans on the other hand DO NOT have these problems.

Not only that but sure the money may stay in the community for a while, but it is still linked to the Federal Government. That is unless blacks in America try and separate from the Union and we know what happened when a certain nation tried that.... For that to happen blacks would need to contact these people for assistance.

You bring up some interesting points yet I mainly talk about supporting black businesses mainly because we at this point are too reliant on the white economy and white employers.

Degrees are good but alas if most of us are reliant on white employers then what happens when white employers up the qualifications for us to be employed by them again?

In fact they are already doing it as we speak which is why this got exposed:
A Black Male With A Degree And A White High School Grad Have The Same Chances Of Getting A Job

Then you look at a business which can be handed down to your kids unlike a degree.

 

[Bawon Samedi]

You bring up some interesting points yet I mainly talk about supporting black businesses mainly because we at this point are too reliant on the white economy and white employers.

My post wasn't a jab at you. I saw black group economics being discussed and just wanted to share some thoughts about it I've been having. I'm not saying for blacks to NOT support black businesses and not to have one, but don't look down on blacks who chose not to open a business *cough* ma & pa shop *cough*. I agree that there are advantages of working for a black employer and I too had bad experience with white privilege concerning employers favoring hiring whites.

But still you CAN'T repeat CAN'T separate from the "white economy" without there being war and bloodbath. Everything in this country is linked to the "white economy".

Degrees are good but alas if most of us are reliant on white employers then what happens when white employers up the qualifications for us to be employed by them again?

In fact they are already doing it as we speak which is why this got exposed:
A Black Male With A Degree And A White High School Grad Have The Same Chances Of Getting A Job

I heard of this. Good point, but I was just stating that some blacks feel a bachelor is more profitable than opening up some ma & pa shop like Asians and Latinos do.

And it also depends on the degree too.

 

[Retired Account]

You bring up some interesting points yet I mainly talk about supporting black businesses mainly because we at this point are too reliant on the white economy and white employers.

Degrees are good but alas if most of us are reliant on white employers then what happens when white employers up the qualifications for us to be employed by them again?

In fact they are already doing it as we speak which is why this got exposed:
A Black Male With A Degree And A White High School Grad Have The Same Chances Of Getting A Job

Then you look at a business which can be handed down to your kids unlike a degree.

an African-American male with an associate degree has the same chances of getting a job as a white male with a high school diploma.

This a flawed study

 

[Bawon Samedi]

Also I forgot to mention that having a skill is an ideal thing for blacks. A degree does not just mean being a employer. To me it means you know have a vital skill on your resume.

 

[Blackout]

My post wasn't a jab at you. I saw black group economics being discussed and just wanted to share some thoughts about it I've been having. I'm not saying for blacks to NOT support black businesses and not to have one, but don't look down on blacks who chose not to open a business *cough* ma & pa shop *cough*. I agree that there are advantages of working for a black employer and I too had bad experience with white privilege concerning employers favoring hiring whites.

But still you CAN'T repeat CAN'T separate from the "white economy" without there being war and bloodbath. Everything in this country is linked to the "white economy".

I heard of this. Good point, but I was just stating that some blacks feel a bachelor is more profitable than opening up some ma & pa shop like Asians and Latinos do.

And it also depends on the degree too.

You are right that we cant fully separate from the white economy but we can limit our connection to it to put up a bit of defense because right now we are dangerously reliant on it which will hinder any future plans we try to do if racial tensions rise any more and "they" try to choke our line to the white economy.

This a flawed study

Nothing flawed. Its way easier to get a high school diploma than an associate degree. Way cheaper as well.

 

[PikaDaDon]

You know he was talking about a neighborhood in queens,ny right?

Honestly I wasn't 100% of which Jamaica he was talking about. The first guy was talking about Jamaica, Queens:

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.

2nd guy brought up Reggie (which I assumed was a typo for Reggae):

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

Apart from the Reggie

Either way my post still stands.

 

[blackzeus]

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.

Koreatown would face 1930s style depression overnight if we took our dollars elsewhere

 

[Retired Account]

You are right that we cant fully separate from the white economy but we can limit our connection to it to put up a bit of defense because right now we are dangerously reliant on it which will hinder any future plans we try to do if racial tensions rise any more and "they" try to choke our line to the white economy.

Nothing flawed. Its way easier to get a high school diploma than an associate degree. Way cheaper as well.

All degrees arent created equal. A bachelor or higher in accounting or finance is a lot more valuable than a associates in liberal arts.

 

[Blackout]

All degrees arent created equal. A bachelor or higher in accounting or finance is a lot more valuable than a associates in liberal arts.

Duh

The point is many white employers demanding black men to have an associate degree and a white man to have a high school diploma to have a job in the first place which is a big difference in itself.

There are many associates that are valuable like electric tech and process tech and instrument tech.

 

[blackzeus]

This a flawed study

They should have said bachelor's or masters

 

[blackzeus]

All degrees arent created equal. A bachelor or higher in accounting or finance is a lot more valuable than a associates in liberal arts.

That has value?

 

[Kalik]

Skimmed it... saw "footwear".
Dap

Black economics seems to always mention this. Sigh

 

[Larry Lambo]

Only companies they could bankrupt are geared toward them already, like Shea Moisture, As I Am, and Cantu.
There isn't a single other major corporation that would go bankrupt or even be significantly damaged by a complete removal of Black American monetary support.

Many companies have high fixed costs that are supported by a certain amount of customers. A 20% drop in revenue can either bankrupt or force many major corporations to divulge assets. You don't have to be responsible for the majority of the revenue to cause catastrophic damage in certain industries.

And you have fast food chains and discount retailers that blacks make a huge portion of the customer base. I'm pretty sure we could make Marshall's or Bojangles go out of business.

 

[Versa]

No, we have to play the game, that includes Africans getting their shyt together.

What's the game? Break down the rules.

Picking apart why everything being done is pointless and has no affect on the community is one thing. Providing alternatives would be nice. Because if not it just looks like you're saying black people are fukked and there's nothing they can do.

Also, you're saying you feel black economics has no role or at all or is effective as a supplement? If so, how?

 

[Versa]

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.

This is implied to most people with sense. Nobody is saying to support a shytty black product just because it's black. We're saying to not look down on a business because it's black. If they show they are on their game and producing quality product then they should be supported by us.