Inflation is costing us households an.
Extra three hundred and forty one dollars a month, as you can see in this article, and they're prefacing it with here's what you can do to save everything is more expensive.
I don't have to convince you guys of that.
You guys are seeing it at the gas pump, you're seeing it at the grocery stores, you're seeing it on your bills, You're seeing it everywhere. Everyone is seeing this inflation. And so this is primarily concerning to me because I do so much to support black owned businesses that I have to hit us with the hard truth. We got to just jump right into this, Okay, you guys so hard Black owned business facts. Number one, the majority of our products and services are non essential.
That is a hard truth for.
Me to have to tell you, guys, and I want you to be blunt and brutally honest right now. If every single black owned business in America clothes, would you still be able to live a relatively normal life, meaning you would still have water, gas, electricity, all the fundamentals, grocery stores, pharmacies. Do you understand what I'm saying that all of what you need to live would still go on, so I don't have to tell you guys that most of what we have and what we provide are non essentials.
Number two, the majority of.
Our products are overpriced, and they're overpriced because typically us, being new entrepreneurs and having little to no startup capital, we're not able to buy our products in the amount of bulk to get our profit margins to a comfortable place, so it costs us more, so we wind up charging our customers more. Number three, the majority of our customers have the least disposable income. Typically, black owned businesses target
black consumers. Their products are geared towards black consumers because they're usually trying to fill in itch or satisfy a service that was largely unfulfilled, and black people in America have the least disposable income. Number four, our businesses are stereotyped for bad customer service.
Now I'm not saying that that is true.
I am telling you what is the overarching believed stereotype. So what this means is that while we are in an inflationary environment, we have products that are not needed that cost the most.
We're selling to people who have the least amount of money and are.
We are known for providing bad service that really puts you in a very vulnerable spot when someone is looking at their shopping list and they're saying, I got to cut three hundred and forty one dollars off?
Are you going to be on that list? Now?
Here is the sort of concerning and also relieving part of that.
This is not new. We've been here before.
So for you guys to truly understand, we have to revisit history, because that is our greatest teacher.
That is the Great Depression.
Okay, most people think of the Great Depression as this one little stock market crash that lasted for a very short amount of time. That is not true. The Great Depression lasts from nineteen twenty nine to nineteen thirty nine.
That is a decade ten years. So it started, of course with the stock market crash of nineteen twenty nine that caused all of the people to sell That was over sixteen million, four hundred and ten and sixty million, four hundred and ten thousand and thirty shares of stock sold off in one day, which literally lost forty billion
dollars from the market. So most of you guys know about what started it, and most people don't really study what kind of took place on how people endure it during that I'm not saying that we're at that level of great depression, but I'm saying we are very close to it, so we do need to study it and see how to navigate.
As you can see here.
This gentleman who was a well to do gentleman one hundred dollars will buy this car because he had lost all of his money on the stock market.
So I think it is very important to.
Really visit some of what was happening the Despair between nineteen twenty nine and nineteen thirty.
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An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy nom the United States
Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fined nearly one thousand dollars a day, imprisoned, and deported. You will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally. Do what's right. Leave now. Under President Trump America's laws,
border and families will be protected. Sponsored by the United States Department of Homeans like.
Cacure two, one hundred and nine thousand plus businesses felled, Over six thousand banks collapsed by nineteen thirty three. Some fifteen million Americans who were unemployed, and nearly half of the country's banks had failed. By nineteen thirty, twelve million were out of work, and every day twelve thousand people lost their jobs. Twenty thousand companies just by nineteen thirty
had gone bankrupt, twenty three million people committed suicide. Like this was a very serious time and so like as you can see here, he says, I know three languages, three trades. I speak three languages, fought for three years, got three children, and no work for three.
Months, and I only want a job.
Here's a photo of sort of protesting and outrage about what was going on. If you look at some of the signage, it looks really familiar to some of the things that we're hearing today. Stop eviiction, stop shutting off gas and lights and water. Right, we need milk for our children. Milk was a high commodity item at.
That time, was very expensive.
Repeel the sales tax, right, repel the sales tax and tax the rich. These are things that we're saying today. People were hungry. They were out in the streets. There were things called soup lines where they were feeding people men for free. So here's a couple of the lines. And here's one of the actual buildings where they were feeding people free coffee and donuts for the unemployed. Then there were spaces in Central Park specifically created called Hooverville.
So these are shanty towns where people were homeless.
Right now, we're seeing a lot of tents everywhere. You can go any metropolitan city right now and you will notice an uptick of tents just littered all over the streets. Well, this was their equivalent to tent living. This is one of the saddest stories that I saw that come out of this. There was a mother, this is a real story. Four children for sale. Inquire within. That's how bad it got. She was actually pregnant at the time, and she sold eventually all four of her children, including the one.
That she was carrying.
So all of the children actually were taken in by other families. But can you imagine like that level of desperation because you just simply cannot feed your children. And of course, as they say, when America has a cold, black people get the flu or pneumonia. So who suffered the most during the Great Depression black employees and black business owners. Because as you know, when things are kind of plentiful like we saw a couple of years ago. You get a lot of support support black businesses, and
everybody turned to their icons black. But when things got tight, everyone starts to you know, focus on their group. And so unfortunately a lot of the low labor and skill, low wage jobs that black people were doing, white people were actually having to take those jobs. There was nothing left for the black entrepreneur, the black employee. And so let's get straight to just the core core concepts of
why the businesses failed. So one coming out of the twenties, did you guys have made heard like the Roaring twenties, There was a time of opulence.
People had money. This is a great overall time.
So around that time, we were also living in how we're living today with this highly speculative and hyped up market.
So the stocks were just over.
They were just just to the movement, as you guys would say today, and a lot of retail investors or you know, your average joes had gotten into the stock market and overhyped.
So there were a lot of overproduction.
Of goods and so the economy was overinflated by the speculation and the hype. So when the stocks crashed, and everything started to come to fruition. The banks, you know, got nervous. They refused to lend money to the companies because they had a lack of confidence and the economy.
What did that lead to?
Well, that left the cutbacks and production, and that led to layoffs and unemployment.
An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy nom the United States
Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fined nearly one thousand dollars a day, imprisoned, and deported. You will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally. Do what's right, Leave now. Under President Trump, America's laws,
border and families will be protected. Sponsored by the United States Department of Homeland Security,