Black Spending Power and Over Consumption
The times have changed and will continue heading in another direction where Black communities will be a target for heavier policing, more government neglect, and a need for protection against more hostile outside forces.
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Black America must learn discipline in spending but more importantly, redirect their spending habits to more long-term necessities of themselves and families, and their neighbors also. Temporal purchases must subside into vested interest and kept bound within Black communities.
Black America’s spending power equaled 1.8 trillion dollars in 2023. While the $1.8 trillion figure is impressive, it exists alongside a well-documented "value gap" or "economic gap." This refers to the disparity between the community's spending power and the economic value and respect it receives in return. This economic force is growing faster than the white consumer market in percentage terms.
In other words, we need to stop buying for selfish purposes and buy in bulk to distribute among our communities instead, where it is needed and respected. This would establish a tighter community building financial bond and supply the residences with things they actually need instead of over-consumption. For example, purchases of used cars cash instead of having car notes.
The value of a used car demands financial discipline over constantly throwing money to banks and lenders at high interest rates. This means housing maintenance instead of upgrades into more expensive neighborhoods. This means a collective effort into community gardens and food distribution instead of feeding the grocery chains.
The times have changed and will continue heading in another direction where Black communities will be a target for heavier policing, more government neglect, and a need for protection against more hostile outside forces. Regardless if the Black community will willingly come together, there will come a time when we will be forced to.
Reeducating our children to focus on more selfless uses of money other than selfish uses. We do not have to upgrade to the newest or the best, or the more prestigious. We must learn to survive off what we actually need. With SNAP, healthcare, and childcare programs being purposefully dismantled, we are going to need each other more than ever. Get use to it and adapt. Look out for one another and ignore corporate seduction.
