STUDY: Black Buying Power To Grow Despite Economic Woes
From StlAmerican.com:
Despite an economy represented by high unemployment rates, a home foreclosure crisis and low consumer confidence, African-American buying power is projected to reach $1.2 trillion in 2013, according to a report conducted by the University of Georgia’s Selig Center for Economic Growth.
The report “The Multicultural Economy” published in late 2008, estimates that African-American consumers’ share of the nation’s total buying power will increase from $913 billion, resulting in a contribution of almost nine cents out of every dollar that is spent.
Despite this predication, economists believe that consumption by African-Americans will not only fall, but that African-Americans will also continue to be the brunt of high unemployment, suffer an increase in poverty and suffer from a reduction in wages and income.
“African-American consumers’ share of the nation’s total buying power will rise to 8.8 percent in 2013, accounting for almost nine cents out of every dollar that is spent,” the report states.
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Plain and simple America as a whole needs the black dollar, we do so much with our money that’s creative trends are eventually created because everyone is trying to imitate us!
We SHOULD invest, but we need cultural goals that are WORTH investing in hence building capitol, but First we need a black bank to hold this capitol and make sure our taxes from our taxed black dollars are being properly tracked and going into projects that directly impact and directly effect the black communities in each state we have a “power for the peoples” bank.
I dont know how many would agree but I think the word POWER should be replaced with IGNORANCE
In spite of increases in sales tax in various states, rising unemployment rates, a public educational system that rates below sea level, Black people continue to be the biggest consumers in the country! That doesn’t translate to true prosperity. Plus, our dollars don’t even stay in our own community. This means that we don’t build capitol. We don’t invest in our own schools or banks or markets, etc. These images of high profile stars shopping on Rodeo Drive are so damn common.
OF COURSE BECUSE CONNS R CONSUMERS THEY DONT MAKE SHET AND THEY DO DO PRODUCTIVE SHET THEY JUST BUY BUY BUY AND U KNOW WHO THEY BUYING FROM?
NOT FROM PEOPLE WITH NAPPY HAIR I BETCHA THAT