24 Hour Economic Blackout

Grassroots organizations are calling on Americans to participate in what it’s calling the "Feb. 28 economic blackout" by refraining from buying goods from major retailers for 24 hours.

Excerpt from CBS News: https://www.cbsnews.com/news/economic-blackout-feb-24-hour-february-28-2025-peoples-union/:

What is the 24-hour economic blackout?

According to an email circulating for the 24-hour Economic Blackout, The People's Union is urging consumers to halt all purchases, both online and in stores, from starting at 12 a.m. on Friday, Feb. 28 through 11:59 p.m. that same day. 

The idea is to halt spending at big corporations, Schwarz said. 

"If you have automatic payments linked up to your bank account of course, we're not talking about disrupting your life," he said in a video. "But do not go out and shop at any big, major store — if you have to, go to the local pizza place, the small local boutique."

Will the Feb. 28 blackout make an impact? 

Consumer spending is the bedrock of the U.S. economy, contributing almost 70% of GDP, according to the Federal Reserve Bank of St. Louis. But some critics say that halting spending for a single day isn't likely to make much impact on major retailers. 

"A lot of people dismiss the idea, arguing that a one-day spending freeze won't move the needle for major corporations or the broader financial system. And I agree — it'll likely have a minimal direct impact," Kevin Thompson, the CEO of 9i Capital Group, told Newsweek.

But, he added, the economic blackout could become bigger, snowballing into more events across the U.S. The People's Union is planning additional blackouts aimed at specific retailers, such as an event from March 7-14 to halt spending at Amazon.

Schwarz expresses optimism in his videos that the economic blackout could make an impact. "If a million people on the 28th do not spend a dime, you might not think out of 360 million people in this country that's a lot, but a million people all on one day not spending their money, that is a hit," he said.

Read more: https://www.yahoo.com/news/no-amazon-no-walmart-no-fast-food-whats-behind-the-feb-28-economic-blackout-200849532.html