I know you are busy, so I am going to be as concise as possible. Black buying power is now in the trillions of dollars CLICK HERE ==> (FACT). This did not happen overnight which means we've had the money to spend for awhile. Thus far, it hasn't helped us because we spend it with people whom work against our self interest (more on that later). As a student of business sciences, I have a working theory on this matter. I posit that most of us do this because we don't understand well enough how money works which is why as a whole, we are more concerned about buying than selling.
The world doesn't yet know that we have this much money. Think I am lying? David Lazarus of Marketplace.org reports, "Companies spend $75 billion a year on advertising, but only three percent of that is in Black publications, and casting Black actors, and on Black TV and radio stations." Three percent is next to nothing. But I assure you, once they rub the racism out of their eyes and put on their greed-glasses, this is going to change. Businesses will start clamoring for our dollars and and they will be making it even easier for us to hand those dollars over (e.g. less stringent credit lines, more liberal lay-away plans).
As a COMMUNITY, we need to actively work against this pending assault on our wallets. As a COMMUNITY, we need to harness our dollars for with economic power comes political power and increased access to resources and legal protection. The way we can do this is with group economics.
GROUP ECONOMICS
In short, group economics is a concerted effort to spend money within one's own demographic/constituency AND FOR THE BENEFIT of one's own demographic/constituency. Currently, every other cultural group in America seems to do that well except for African Americans. We don't value or appreciate the impact we can have on each other's lives. The easiest way to understand the group economics dynamic is to think about jobs. African American unemployment in America has always been almost double that of whites and everyone else. Why? RACISM pure and simple. If you doubt that, read this study =====> (click here). The conclusion of this very well structured scientific experiment is that if you have a name common in the Black community, you will get 50% less call-backs during your job hunt than someone with a "white name". If you can justify that conclusion with anything other than racism, you are probably a racist. GROUP ECONOMICS is the answer to this.
WRAPPING UP/GETTING RICH :-)
An open hand smack hurts. A closed fist punch can kill. We need to pull our dollars together with the same intensity that a prize fighter closes his fist before s/he strikes. And it is easy! If you are a buyer, buy within your community! Don't wait until the last minute to purchase something as the urgency will prevent your from being able to spend time searching for the African American supplier. Plan your expenditures well in advance so that you can spend the time searching for the RIGHT supplier, one within your own community. If you are a seller, get creative AND GET RICH. $1.1 trillion dollars is a lot of money. Meet the needs of your people and watch a percentage of that money come straight to you...
-Hannibal Pace
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