Spending power is just what you have left to spend each year after you pay taxes. It doesn't include previous years' savings or credit. At 27:35 of the video I thought the banker's definition was more correct than Dr. Jared Ball and Dr. Ball went off on a tangent about net worth which has nothing to do with spending power. Antoine Walker had massive spending power for 10 or 12 years but no net worth.
When you see articles about blacks in Detroit not paying their water bill or blacks across the country living in food desserts, those stories are planted by corporations that want municipalities or community organizations to decrease the amount blacks spend on basic necessities so blacks can then turn around and spend the extra money on corporate goods and services.
Dr. Ball was on NPR's Marketplace and in 5 minutes spending power was explained clearly. According to the program, blacks tend to spend more on electronics, utilities, groceries, and footwear. Blacks spend a lot less on new cars, alcohol, entertainment, healthcare, and pensions.
Black buying power hits $1.1 trillion. What does it mean?
When you see articles about blacks in Detroit not paying their water bill or blacks across the country living in food desserts, those stories are planted by corporations that want municipalities or community organizations to decrease the amount blacks spend on basic necessities so blacks can then turn around and spend the extra money on corporate goods and services.
Dr. Ball was on NPR's Marketplace and in 5 minutes spending power was explained clearly. According to the program, blacks tend to spend more on electronics, utilities, groceries, and footwear. Blacks spend a lot less on new cars, alcohol, entertainment, healthcare, and pensions.
Black buying power hits $1.1 trillion. What does it mean?