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What is the economic blackout?
The boycott was organized by Instagram user @TheOneCalledJai, whose real name is John Schwarz. Schwarz said he started the "bold" idea to protest against corporate greed and other consumer frustrations, per USA Today.
The initiative is a way for consumers to flex their economic power by not spending any money for 24 hours starting at 12:01 a.m. Friday, Schwarz said.
The point is not to affect the stock market, he told The Washington Post, but to get “corporations to at least pause and stop and notice.” The effort comes at a time when many consumers are feeling uneasy about the economy.
Consumer sentiment fell in February, according to a closely watched metric from the University of Michigan, amid fears that new tariffs could worsen inflation. Americans now expect prices to rise another 4.3% in the coming year, a full percentage point higher than they did in January. That is more than double the Federal Reserve’s 2% inflation goal and higher than January’s 3% reading.
“We are the economy. We are the workforce,” Schwarz said. “They benefit only because we get up every day and do what we do. If we stop, they have nothing, and it’s time for them to accept that truth.”
How can you participate?
Don’t spend any money Friday, the group’s website says. That includes no shopping online, ordering from restaurant chains or filling up at the gas station.
For more information on the origin of this effort read the article HERE.
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