BLACK AMERICANS SPENT ENOUGH MONEY ON CLOTHES AND CARS IN THE PAST 12 MONTHS TO FUND THE INVASION AND OCCUPATION OF IRAQ FOR 1 YEAR.$2 BILLION PER WEEK
According to Target Market, a company that tracks black consumer spending,blacks spends a significant amount of their income on depreciable products. Last year we spent $22.9 billion ($22,900,000,000.00) on clothes, $3.2 billion ($3,000,000,000.00) on electronics and $11.6 billion (11,000,000,000.00) on furniture to put into homes that, in many cases, were rented.
Among our favorite purchases are cars and liquor. Blacks make up only 12% of the U.S. population yet account for 30% of the country's Scotch consumption. Detroit, 80% black, is the world's No.1 market for Cognac. Detroit is also the number one crime city of America.
So impressed was Lincoln with the $46.7 billion ($46,000,000,000) that blacks spent on cars that the automaaker commissioned Sean "P. Diddy" Combs, the entertainment andfashion mogul, to design a limited-edition Navigator complete with six plasma screens, three DVD players and a Sony PlayStation2. The only area where blacks seem to be cutting back on spending is books; total purchases have gone from a high of $356 million in 2005 to $303 million in 2006.
The National Urban League's "State of Black America 2004" report found that fewer than 50% of black families owned their homes compared with more than 70% of whites. According to published reports, the Ariel Mutual Funds/Charles Schwab 2003 Black Investor Survey found that when comparing households where blacks and whites had roughly the same household incomes, whites saved nearly 20% more each month for retirement, and 30% of African-Americans earning $100,000 a year had less than $5,000 in retirement savings.
12 comments:
I hear you Classical.
But I also hear the skeptics laughing at people like you and I, who think "people can be helped".
What can be done?
It's not perfect, but even a person from Detroit has a better education system and more opportunities than 90% of the people on the planet.
The people swarming across the border to get here are testament to that fact.
As long as you and I want to maintain our current standards of living, and to pay less for our cars, our Nikes and our flat screen TV's, there is nothing that "we" can do for the inhabitants of the rust belt.
Or is there? I'm all ears.
I hear you Classical.
But I also hear the skeptics laughing at people like you and me, who think "people can be helped".
What can be done?
It's not perfect, but even a person from Detroit has a better education system and more opportunities than 90% of the people on the planet.
The people swarming across the border to get here are testament to that fact.
As long as you and I want to maintain our current standards of living, and to pay less for our cars, our Nikes and our flat screen TV's, there is nothing that "we" can do for the inhabitants of the rust belt.
Or is there? I'm all ears.
my people...my people...
put that yak down and pick up that glass of red.
a glass a day keeps the cardiologist away.
Well, I'm not sure about you but Nikes and flat screen TVs are not part of my lifestyle, hell I don't even own a TV. My idea of being a good citizen does not encompass mass consumer spending. That's a big part of the problem, we have become a nation of consumers and not citizens. People get much more encouragement to go buy, buy, buy, than they do to be involved in their own communities.
We end to end $3 trillion dollars war and massive arms spending and re invest in our schools, young people and infrastructure. The means to do so exist but so far the political will to do so does not.
DV,
Thank you for posting this. I must pass this on to a few folks.
My husband and I were having a similar conversation just last week. We know more folks rolling around in luxury cars that are living in apartments - and I don't mean luxury apartments either.
I used to work with a young lady who showed up to work everyday with a full length fur coat, designer handbags, designer clothing - looking like she just stepped out of Vogue. One day I gave her a ride home and was shocked when she directed me into a low-income housing project.
I'm not sure what can be done, for this is nothing new. You can only tell people but so much.
Priorities...
DV you're doing a great service by posting this. I think it's generational and ignorance. I was at the grocery store yesterday and an obese woman with her teenage son were in front of me in the checkout. $100 worth of NOTHING but processed food, snacks, soda and high fructose corn syrup. As I looked in disgust, my girl said I bet she pays with a welfare card. Sure enough, she did. I think it's the same M.O....simply not knowing because you haven't been schooled.
Wow, Paul. That's crazy. I can barely eat a cracker or a cookie! And if you ever see me with a huge plasma or a 500 benz, that means i got a million in the bank.
I think it's the same M.O....simply not knowing because you haven't been schooled.
It's not that people haven't been schooled. It's the unfortunate state of affairs that they are not even curious to find out what it is they are consuming.
It's the American disease of outsourcing every aspect of our lives to others, whether it be food safety, health or our childreb.
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I don't know about u Big J, but my HD flat screen is my guilty pleasure. The technology is AMAZING and I'll gladly drop a G on one when I know people that paid 20 stacks for them when they first came out. I'm to the point where I would almost prefer to stay home and watch a game on TV instead of seeing it live. Better angles, replay on command and I don't know if it's just me...but the game damn near looks enhanced. Visually...much better than seeing it live. HD is amazing...I can see the blades of grass on my screen.
They don't know their language
They don't know their God
They take what their given
even whan it feels Odd
They say their grandfathers and grandmothers work hard for nothing
and we still in this ghetto
so they end up in prisons
they end up in blood
They keep us uneducated,
sick and depressed
(they end up in blood)
Doctor I'm addicted now
I'm under arrest
(they end up in blood)
We makin' mo' money than a muthaf**ka
(they end up in blood)
With no choices there's no hope for us
(they end up in blood)
Started with a rhyme from old ancent times
Decedents of warlocks,
witches with ill glitches
Children of the matrix be hittin' them car switches
Seen some Virgin Virgos hanging out with Venus Bitches
Started with a rhyme from old ancent times
Decedents of warlocks,
witches with ill glitches
Children of the matrix be hittin' them car switches
Seen some Virgin Virgos hanging out with Venus Bitches
Started with a rhyme from old ancent times
Decedents of warlocks,
witches with ill glitches
Children of the matrix be hittin' them car switches
Seen some Virgin Virgos hanging out with Venus Bitches
Started with a rhyme from old ancent times
Decedents of warlocks,
witches with ill glitches
Children of the matrix be hittin' them car switches
Seen some Virgin Virgos hanging out with Venus Bitches
Cause
They don't know their language
They don't know their God
They take what their given
even when it feels Odd
They say their grandfathers and grandmothers
work hard for nothing
cuz we still in this ghetto
So they end up in prisons
they end up in blood
"Twinkle" - Erykah Badu
Posted by Kimberly
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