Air Jordans Create Trade Deficit in Black Community Says Finance Advisor
Over the decades Air Jordans have grown to be more than just sneakers, especially in the Black community.
A new pair of J's often times are regarded as a luxury, a badge of honor, and even an investment. So much so, that Jordan Brand makes about $2.5 Billion per year.
Michael Jordan's financial successes are well documented and with more money comes more problems.
Peers such as Kareem Abdul-Jabbar have gone on record to criticize MJ's "commerce over conscience" mentality. But Dr. Boyce Watkins, a Financial advisor and advocate for Black wealth, is trying to enlighten the Black Community on the real issue at hand.
Here's what he had to say:
"The problem with the Black Community is that we are at a trade deficit. The amount of money we are putting into other people's communities does not match the amount they are putting into ours."
Watkins, who has a PhD in Finance, doesn't think purchasing Air Jordans as a whole is useless. He salutes those who buy several pairs for reselling purposes as well as the person who casually likes to reward themselves with something nice.
"There's nothing wrong with buying a pair of Jordans. But the thing about it is this... you never want to spend more time consuming than you think about investing and producing.
Make sure you're not being pimped by other people... The system was designed to pimp you."
Building wealth while maintaining a steady balance between consuming, investing, and producing is the clear message Dr. Watkins delivers in his 5 minute video (which you can watch in full below).
What do you think about Dr. Boyce Watkins' statements on Air Jordans and the trade deficit within the Black Community?