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Black spending power reaches record $1.6 trillion, but net worth fallsCNBC’s Frank Holland joins ‘Squawk Box’ to report that Black spending power reached a record $1.6 trillion in 2021, although the group’s net worth declined 14%. For access to live and exclusive video from CNBC subscribe to CNBC PRO:
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Buying niche stock . Coding the markets for success starts with small business. Home ownership. Has expanded to leasing-cultural developments.
Homes being appraised under value doesn't help.
I have no clue why they report wealth among Whites. Everyone knows there over 100 years ahead of other races among wealth. Slavery made them rich. Whites have been in control for over 400 years. They have no competition. Next topic.
Liberal cowards, SAY ITS BECAUSE WE AREN'T MARRIED. JUST SAY IT. The black communities failure to build nuclear families and adoption of feminism is killing us
"Spending Power" is a marketing term. It is not a real indicator of WEALTH!!!
Dr. Jared Ball addresses this in detail.
A BIG contribution to the US economy. And with the market demanding "skills" over sheepskins, the future looks bright.
No surprise their net worth is down! Blacks focus on consumption over saving/investing at a disproportionate rate. Between the Mercedes cars, fashion nails, hair extensions, designer handbags/jewelry/clothing, etc,,, Until they start planning for the future instead of spending for today the situation will continue to worsen.
Bad bad advice.
Stop consuming so much. Start saving and investing!!!
It’s not about race, it’s about class. The reality is that middle-class status is new for Black Americans, newer than other groups. Ask HOW young adults in other groups are able to purchase homes in their 20s…many aren’t 1st generation home owners which is often the case for Black young adults. Black millennials don’t have anyone to offer to take care of their down payment or to pay for their wedding. They’re doing it all themselves. Give Black millennials 10 years. We may be lagging behind, but there are structural reasons for that. Many of us are the 1st generation out of the hood/poverty. Also, location instability is a major factor. We’re moving multiple times for college, grad school, job #1 and then job #2. Lots of folks want to wait to buy a house until they know where they’ll be settling. It’s a class thing. We’re new to this middle-class thing!
Great report. The only reason we lagging behind, which we headed in the right direction. We currently dont have any real leverage in producing goods. But as small African Americans continue to network and build within those industry to continue to own Manufacturing Plants, along with the Import and export of goods. We will grow. We currently getting into investing, Cryptocurrency, actually have a 30,000 member African American investment group. Things will change in time.😁😁😁
They spent 1.6 trillion and they got 2.6 trillion in welfare. The other 1 trillion went to buy crack and chronic
Save just 10 percent of the 1.6 trillion each year for ten years at a rate of 6 percent return and it will balloon to over 17 trillion in wealth. That would be a good start I think.
How is it Fasanating????
There’s no hope for those people I’m starting to think they aren’t capable to advance just take a look at every place they occupy tends to look like a slump
Single parents are the number one reason why blks are in poverty is not systematic reasons maybe a little but not like the media wants people to believe making children out of wedlock is the number cause . Take responsibility and stop
Blaming everything except yourselves
Asians killin it what else is new… USA should bring in 3 million smart Asians each year and that way it will go waaaay stronger instead of importing illegals from south oft he border! Be careful of CCP spies though! Vietnam, India, Philippines are good countries to bring people from
He meant Radical Freeloaders!! 🤡🤡👏👏👏
What about the Albino's? Stop discriminating against the albino's!!!!😤
Blacks families spent more money because of handouts. No more handouts no more spending.
Save your money people time to wake ⏰️ up
One generation out from Jim Crow and you’re saying the problem is with black people’s spending habits? While white Americans have been able to compound generational wealth for 400 years? Wealth inequality is entrenched, and systematic for example in the way public schools are funded.
This is why America is screwed, you got the left using skin colour to generate stories while in the same breath saying the colour of skin shouldn't matter, how about you stop using skin colour to define people or groups of people, you are the very racists you claim the opposition it and people are now getting wise to you.
so racist. CNBC IS A WHITE RACIST NETWORK.
Maybe all those handouts didn't work?
Andrew should give up his position to a Black Woman.
Culture not a factor?
What a weird coincidence that Frank Holland is the one who always reports on these sorts of stories.
It's believable, I'm a person that identifies as black according to census and communities but it's really been something starting from scratch and understanding finances. I understand real estate but I have no interest in buying something like that but I do like the market and education and various jobs that includes the diversity sector, moving forward.
Maybe blacks should spend less on that green, alcohol, new Nike shoes, expensive jackets, chains, foreign cars, McDonald’s, Uber, eating out, concerts, renting things for gram……
You can lead an orangutan to success but he will almost undoubtedly choose the easier way out. aka a life of free money via section 8 food stamps crime etc…
thanks for letting us know what orangutans earned. Can we do other races next. thanks