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Blackonomics 101: State of the blackonomy

As the 2016 Presidential campaign season heats up, it is necessary to take a look at the current position of Black economics (Blackonomics).

Here are a dozen Blackonomic facts about the State of the Blackonomy.
Annual Black aggregate consumer spending is approximately $1.1 Trillion, however, only 2 cents of every Black dollar is spent with Black businesses. Source 1
Annual Black aggregate consumer spending is approximately $1.1 Trillion, however, only 2 cents of every Black dollar is spent with Black businesses. Source 1
If Black America were its own country, it would be the 16th largest economy in the world. Source 1
 If Black America were its own country, it would be the 16th largest economy in the world. Source 1
Black median income is $35,610. 28% of Blacks live in poverty. 33.9% of Black households have zero or negative net worth. Source 2
Black median income is $35,610. 28% of Blacks live in poverty. 33.9% of Black households have zero or negative net worth. Source 2
22% of Black households make less than $15,000 annually. Only 10% of Black households make more than $100,000 a year. Source 3
22% of Black households make less than $15,000 annually. Only 10% of Black households make more than $100,000 a year. Source 3
79% of Black households carry credit card debt. On average, African Americans currently carry an average balance of $5,784 on their credit cards. Source 4
79% of Black households carry credit card debt. On average, African Americans currently carry an average balance of $5,784 on their credit cards. Source 4
Black families have an average debt burden of 53% (compared to 17% for White families). 45% of African American families are using credit card debt to cover basic living expenses. Source 4
Black families have an average debt burden of 53% (compared to 17% for White families). 45% of African American families are using credit card debt to cover basic living expenses. Source 4
44% of Black households own homes. The value of real estate accounts for 48.6% of the value of a Black family's total assets. Source 5
44% of Black households own homes. The value of real estate accounts for 48.6% of the value of a Black family's total assets. Source 5
In 2010, the average income for whites was twice that of Blacks ($89,000 versus $46,000), meaning that for every $2.00 whites earned, Blacks earned $1.00. Source 6
In 2010, the average income for whites was twice that of Blacks ($89,000 versus $46,000), meaning that for every $2.00 whites earned, Blacks earned $1.00. Source 6
 On average, blacks saw their retirement assets fall by 35 percent during the Great Recession while white families experienced a slight increase. Source 6
On average, blacks saw their retirement assets fall by 35 percent during the Great Recession while white families experienced a slight increase. Source 6
Blacks lost $1Trillion worth of wealth in the Great Recession. On average Black families lost an of 27.1% of their net wealth. Source 5
Blacks lost $1Trillion worth of wealth in the Great Recession. On average Black families lost an of 27.1% of their net wealth. Source 5
Black households have only one dollar of wealth for every six dollars held by white households. Source 6
Black households have only one dollar of wealth for every six dollars held by white households. Source 6
Only 7% of Blacks inherit money (36% of whites). Each inherited dollar contributes 20 cents of wealth for Blacks (91 cents for whites). Source 7
Only 7% of Blacks inherit money (36% of whites). Each inherited dollar contributes 20 cents of wealth for Blacks (91 cents for whites). Source 7

Source 1 - 'Buying Power of Black America' probes spending shifts caused by tight economy
Source 2 - State of Working America
Source 3 - Wealth Gaps Rise to Record Highs Between Whites, Blacks and Hispanics
Source 4 - The Challenge of Credit Card Debt for the African American Middle Class
Source 5 - A Long Way From Home
Source 6 - Less Than Equal: Racial Disparities in Wealth Accumulation
Source 7 - How America’s Wealthiest Black Families Invest Money
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  • Home
    • About Us: The BlackPrint Statement of Purpose
    • Today in Blackness >
      • May in Blackness
      • Quote of the Day >
        • Quote of the Day March
        • Quote of the Day February
        • Quote of the Day January
        • Quote of the Day December
        • Quote of the Day November
        • Quote of the Day October
        • Quote of the Day September
        • Quote of the Day August
        • Quote of the Day July
        • Quote of the Day June
        • Quote of the Day May
  • Learn To Fish
    • 25 Resources For Getting Your Business Off the Ground
    • The Case For Black Entreprenuership
    • How to File For A Tax ID Number
    • Getting Organized For Business
    • The Case Against the 40 Hour Workweek
  • Shoulders of Giants
    • Giant: Patrice Lumumba
    • Giant: Nat Turner
    • The Donkey's Sin - Ethiopian Parable
    • Giant: Haile Selassie
    • Giant: Madame CJ Walker
    • Giant: Hannibal Barca
    • Giant: George Washingon Carver
    • Giant: Sojourner Truth
    • Giant: Toussaint L'Ouverture
    • Giant: Harriet Tubman
    • Giant: Huey Newton
    • Giant: Marcus Garvey
  • Mind On My Money
    • 6 Terms to Master Financial Literacy
    • Black Wealth By The Numbers
    • Black Investing 101: Invest In Stocks For Your Kids
    • How to Introduce Your Child to Money - Infographic
    • Black Investing 101: Invest In Companies You Support
    • Black Personal Finance 101
    • Getting on Track
    • Managing Debt >
      • Addicted To Debt
      • THEY Don't Want You to Know
      • Dirty Little Secrets
      • Your Rights As a Consumer
    • Understanding Credit >
      • Why Credit Matters
      • About Your Credit Score
      • Optimize Your Credit Score
      • By the Numbers
  • Unruly Intellectual Blog