Black America served as a well-lubricated conduit for 1.1-2 trillion dollars last year, most of which went to businesses in other communities.
If African-Americans ever want to be respected in their own country they better plug this dike.
The tragic turn race relations have taken as a result of Donald Trump’s ascendency to the presidency will have devastating and lasting consequences, not just for people of color in America but across the Globe.
Simply put, the rise of fascism is consequential whether to America’s policy, in the West Bank, the outdoor prison camp maintained by Israel called Gaza, the Korean peninsula or as it relates to immigrants fleeing persecution and death from Latin America.
As such it requires vigilance and a state of wokeness[sic] on the part of all people of color regardless of where we are domiciled.
Racist and Xenophobic immigration policy affects the free movement of people across International borders on the one hand even as they inform misguided deportation policies not rooted in justice, fairness, or the rule of law but are demonstrably rooted in race and skin pigmentation.
In a country as powerful and consequential as the United States, a country which has held itself out as the tip of the spear of democratic governance, this new American direction has given the entire world a tremendous whiplash.
Back in the United States, the debate rages as more and more people of color, largely African-Americans, are being forced to recognize, if not accept, that the election of Barack Obama did not mean that America was ready to move past its endemic shame of racism. Whether it is police murderous assault on black people or those who weaponize the police inexorably into the military wing of white supremacy, the evidence is undeniable.
As the assaults on decency pile up, from the White House to the lowest rung of white supremacy in the bowels of Dixie, Black America’s continuance of a failed policy of assimilation since the passage of the civil rights act of 1964 seem to be the path of choice even today.
♦The idea of sitting at white lunch counters to force change is inherently moral. Yet, I would rather be embarking on a plan of starting my own Diner. I do not relish the taste of spit in my food.
Why are Black Americans begging to be accepted into coffee shops and waffle houses? How difficult is it to open their own coffee shops and waffle houses?
♦ The idea of getting people who hate my guts for no reason other than their envy of my beautiful black skin, to allow me to spend my beautiful green dollars in their restaurants, hotels, country clubs and other businesses, simply does not have real appeal for me.
I much rather believe in starting my own hole in the wall eatery, AirB&B has demonstrated that we don’t have to use their hotels either. In fact, Harriet Tubman proved long ago that people can be moved over hundreds of miles safely and effectively if we chose to use our craniums.
♦ Black Americans who are inordinately predisposed to entertaining and being entertained continue to leak their precious green dollars to people who hate them by supporting the NFL and other entities which clearly only have use of them for their bodies and their money.
Last year according to Nielsen. Black Americans spent a grand total of 1.2 Trillion dollars.
According to http://www.blackenterprise.com/the-road-to-1-5-trillion-in-black-buying-power/ estimation of black spending trends.
Black buying power currently stands at over $1.1 trillion and is on the road to hit about $1.5 trillion by 2021. This collective buying power means that nearly $2 trillion will be flowing through black America annually very soon, making us the centerpiece for various researchers, marketers, advertisers, and other campaigns designed to influence black spending patterns. But the question is, with so much buying power, can we as African Americans influence and direct said spending ourselves? Do we have the power directly, indirectly, and strategically to determine where that money flows and if so, could directing that flow help rebuild the black community?
Within the next 45 years, by around 2060, black America might be represented by 75 million in the U.S., holding about 20% of the U.S. population. In terms of black-owned businesses, that number sits anywhere from 2.5 million to 3 million enterprises and is projected to grow in larger numbers going forward.
All of this data points to the trend that African Americans will be very important contributors to the U.S. Gross Domestic Product (GDP) along with the creation and sustainability of U.S. jobs.
The challenge however for African-Americans is not that some people in our community are not recognizing the need to create more startups.[BE]
The challenge lies in black support for those startups and the attendant support required for them to survive. Some claims have been that a dollar lasts no longer than one to six hours before it leaves our community.
So to borrow a term, the African-American community remains merely a well-lubricated conduit for money to be dispersed to other communities.
There is much to be discussed in terms of how we move a community of 13.5% of 320 million people to understand the power of their money.
There is hardly a legitime argument to be made that there aren’t adequate amounts of money passing through the hands of black people.
One point one trillion dollars dispersed among forty million people translates to roughly 27.5 thousand per person spending per annum. Hardly any of that money is being spent with black enterprises or small businesses.
If Black Americans do not want to be talking about this very issue of racism and exclusion across the economic and geographical spectrum a hundred years from now, this hole in the dike must be plugged.