On February 28, consumers across the U.S. are encouraged to participate in an ‘Economic Blackout,’ abstaining from purchasing non-essential goods for 24 hours. Organised by The People’s Union USA, a movement championing economic resistance and corporate accountability, the initiative aims to demonstrate the economic clout of ordinary citizens. A statement on their website declares this day as a powerful symbol showcasing that “we control the economy.”
Rising prices have sparked fatigue among consumers, with food costs surging nearly 10% year-over-year in 2022, marking the steepest increase since 1979, as reported by the USDA. Although inflation rates have cooled slightly, families are still grappling with challenges from supply chain disruptions and potential tariffs levied against imports from countries like China, Mexico, and Canada. The University of Michigan’s consumer sentiment survey predicts inflation expectations to reach 4.3%.
Participants in this blackout are urged to refrain from spending on fast food, petrol, and major retailers, with the caveat that essential purchases like food and medicine are permissible. The focus is on boycotting large corporations, including behemoths like Walmart, Amazon, and Best Buy, whilst advocating for a broader pause on consumer spending. If individuals can do so safely, they are also encouraged to take a day off work, as suggested by John Schwarz, founder of The People’s Union USA.
On February 28, consumers are encouraged to take part in an ‘Economic Blackout’, abstaining from non-essential purchases to highlight their economic power. The initiative is led by The People’s Union USA amidst concerns over rising prices and corporate accountability. Participants should avoid major retailers but can make exceptions for essential goods, with a focus on supporting local businesses instead.
February 28 marks a call to action for consumers to assert their economic influence through a 24-hour spending halt. The People’s Union USA seeks to unify voices against rising costs and corporate practices while promoting support for local businesses. By participating in this Economic Blackout, consumers aim to send a resounding message about their collective power in the marketplace.
Original Source: time.com
