The buying power of Blacks in America is over $1.1 trillion, and yet black communities for the most part are in poverty which is the underlying reason of crimes. But let’s keep in mind that it was always this way during the segregation era, in fact, black communities were striving academically, economically, and crime rate was low.
So what happened? The idea of integration was definitely overwhelming for a group of people who wanted to be seen equal. Desegregation meant to go places that were once forbidden in the process abandoning businesses in their own communities.
The dollar circulates almost ten (10) times within the Jewish community before it reaches the outside. The dollar circulates almost six (6) times within the Asian community before it reaches the outside. The dollar circulates an infinite number of times within the White community; more than all other groups. Sadly, the African American dollar does not even circulate one time within its own community. As a matter of fact, the Black dollar only stays in the Black community less than six (6) hours. This must change if we hope to address the issues of high unemployment, recidivism, crime and other critical issues impacting the African American community.
According to the NCAA:
Currently, a dollar circulates in Asian communities for a month, in Jewish communities approximately 20 days and white communities 17 days. How long does a dollar circulate in the black community? 6 hours!!! African American buying power is at 1.1 Trillion; and yet only 2 cents of every dollar an African American spends in this country goes to black owned businesses.”
By spending our dollar with black businesses, we are creating jobs, we are creating wealth, and therefore our kids will have more professionals role models in their community to look up to which will reduce crime.
So do you think it is time for black people to stop trying to prove white America that they can afford the big name establishments and start spending more in their black owned businesses?
Ludvy Joseph
