by Dr Boyce Watkins
In this video, I discuss the interesting trend of people standing in line to buy the new Air Jordans. I am stunned by the degree to which corporations are able to manipulate the minds of consumers to get them to see value where there is none.
This phenomenon also led me to think about how compulsive buying works and how we as consumers are often fooled into buying things that we don’t need. There’s a science to these things and it’s quite effective, especially when consumers aren’t trained to engage in critical thinking and are instead led by their instincts.
I was also prompted to discuss this issue after analyzing Nike stock and noticing how much it’s grown over the last 15 years. In February of 2000, the share price was just $6.64. Since that time, the stock has risen to $132 per share. The sad and ironic part of it is that, anyone in line to buy the new Jordans could easily afford to buy shares of the company instead. But by relegating yourself to be the consumer/spender rather than the investor/producer, you’re simply feeding yourself to an economic machine that has often led black people straight to slaughter.
That’s what this conversation is all about. The other bottom line is that by positioning yourself as an investor, you can build your wealth and still buy a pair of Jordans at the end of the day. This time, you end up ahead instead of spending your life begging white people to feed you.
You can either watch the video below or download the podcast above. Also, please join TheBlackWealthBootcamp.com if you’d like to learn more about how money works and how to empower yourself in this economy.