Nielson reports that Black American consumers have now surpassed over $1 Trillion in consumer buying power, spending 98% of this money outside of their community and only 2% with Black owned business.
Dr Claud Anderson Black Americans Will Be Buried Alive Without Reparations Think Outside The Box
This white man below does an excellent job at explaining to white people why they should buy from black owned business since Black's spend 100% with them to the detriment of our own communities.
According to figures released by the Labor Department on September 5, 2014 black unemployment is 11.4% , hispanic is 7.5% while white unemployment is 5.3%.
In simple terms, whites are able to hire mostly other whites because they spend money with one another, while making money off of blacks and hispanics.
Latino's spend a larger percentage of money with their own businesses so they are able to hire one another.
Asians, who have a high savings rate, spend mostly within their own community and among themselves.
Jews, while representing just 4% of a global population, own and controll so many industies and major corporations, going out of their way to hire and support one another. There are over 200 Israeli based companies on the New York Stock Exchange. They heavily support their organizations, have a nationwide lending network for their people called the Hebrew Free Loan Association and aggresively lobby congress to protect all of their interests in the US and Israel.
Whites prefer to hire hispanics over blacks. And Black's, who spend 98% of their money with everyone else but themselves, can't hire one another or let alone anyone else because no one spends money with us.
Maggie Anderson's explains the positive ecnomic impact Black people can have on changing our condition by just supporting one another.
You can be apart of making a truly affirmative action to change this. Click Here.
Despite high unemployment, limited assets and savings Black Americans spend collectively a lot of money on food, goods and services that create jobs and wealth in industries and for companies where we are not employed or underemployed at all levels. And also where some of these companies do little to no business with Black suppliers.
This report from Target Market News, analyzes spending of black households and finds that African-Americans began showing signs of the pending economic turmoil that would hit the entire nation. The pattern of purchases shifted dramatically in some categories. Contributions to churches and other non-profits dropped 16% to $11 billion. Expenditures on personal care products and services declined 10% to $6.6 billion. Spending on alcoholic beverages decreased 6% to $2.8 billion.
Purchases of items related to the home continued to increase despite the need for economic sacrifices. Appliance purchases grew 27% to $2.2 billion. Computers for home use climbed 28% to $3.5 billion. Consumer electronic expenditures went up by 32% to $4.5 billion.
"African-American households are facing this economy by being more focused in the purchases they make," said Ken Smikle, president of Target Market News and editor of the "Buying Power" report. "In 2008 black consumers had total earned income of $803 billion. They ranked 17th among the economies of the world in comparable gross national income. They continue to be a critical part of the American marketplace, and will contribute substantially in the economic recovery of American business."
Apparel Products and Services |
$26.9 billion |
Appliances |
2.2 billion |
Beverages (Alcoholic) |
2.8 billion |
Beverages (Non-Alcoholic) |
3.1 billion |
Books |
289 million |
Cars and Trucks - New & Used |
31.5 billion |
Computers |
3.5 billion |
Consumer Electronics |
4.5 billion |
Contributions |
11.0 billion |
Education |
71 billion |
Entertainment and Leisure |
2.8 billion |
Food |
65.3 billion |
Gifts |
3.5 billion |
Health Care |
23.9 billion |
Households Furnishings and Equipment |
12.9 billion |
Housewares |
836 million |
Housing and Related Charges |
166.3 billion |
Insurance |
19.0 billion |
Media |
8.3 billion |
Miscellaneous |
4.4 billion |
Personal Care Products and Services |
6.6 billion |
Sports and Recreational Equipment |
1.0 billion |
Telephone Services |
17.2 billion |
Tobacco Products and Smoking Supplies |
3.1 billion |
Toys, Games and Pets |
2.4 billion |
Travel, Transportation and Lodging |
6.4 billion |
Black Wall Street Destroyed
Join Us In Creating A New Nationwide Black Wall Street.
Dr. Claude Anderson explains why Black people are poor the world over. (Click Here)
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