This boring graph may be the most important graph in Black Economics. Let me explain. Homeownership is the single best way in the United States of building wealth. Second is retirement savings. And both are subsidized by the the government. Homeownership is key to wealth building especially for Black people. If you take a step … Read more
The nation’s largest credit union rejected more than half its Black conventional mortgage applicants (CNN). CNN broke a great story about discriminatory mortgage lending practices against Blacks by the Navy Federal Credit Union(NCFU). Many major US banks have long been accused of mortgage discrimination but Navy Federal made headlines with the high denial rate of … Read more
Top Stories Better than Economics… African American Business 33 Black-Owned Businesses To Shop This Holiday Season (Real Simple) Black Americans need better immigration policy (Post and Courier) – By Andre Barnes who is the HBCU Engagement Director for NumbersUSA. So this is an interesting read with lots of background. NumbersUSA is a conservative organization that … Read more
Economic Roundup for December There were a lot of important economic stories over the past month. Inflation continued to drop. Unemployment stayed low. The Federal Reserve kept interest rates steady. The stock market rebounded. And consumers, who have never been better off, complained about the economy and took it out on Biden. But the biggest … Read more
November 20th to November 26th Top Stories At Lululemon, Being Black Is ‘Off-Brand’ (Business of Fashion) – Yoga apparel brand Lululemon, despite creating a new department to improve internal diversity and inclusion is still showing discrimination towards black people. Fearless Foundation gets funding boost from national diversity group (The Atlanta Journal-Constitution) – The National Minority … Read more
The holiday season is here. It’s time for gifts, holiday meals, and celebrations, parties, and community. We want to offer some guidance for spending wisely during the holidays. Black people in the US are richer and have more spending power than ever before. With this spending comes power; real economic power. And the responsibility to … Read more
The holiday season is here. It’s time for gifts, holiday meals, and celebrations, parties, and community. The holidays are a great time to celebrate and give thanks for all we have. In this fun and joyous time of the year, we want to look at a part of the economy that affects us all. We … Read more
Top Stories Pharrell Williams’ $1 Billion Plan For Black And Hispanic Entrepreneurs (Forbes)- Black Ambition which was founded in 2020 held its third annual Demo Day, which discusses lack of capital for startups among Black and Hispanic communities. Why ‘Buy Black’ for the holidays matters (Bay State Banner)- Spending money in our own black community … Read more
Here are our best picks for the second week in September from the staff at BEBN. We really like our lead article ••• I took my daughter to Daymond John’s Black Entrepreneurs Day. Here’s what we learned. (Entrepreneur Magazine) — This year’s event was highlighted by insightful conversations with Black business icons including Cedric the … Read more
Today, let’s look at exactly what the Black / White wealth gap is and how is it measured? The Black / White wealth gap comes from the Survey of Consumer Finances (SCF). The survey is conducted every three years, and is the most accurate look into family finance in the US. The results for the … Read more
