Talk of a "Feb 28 Economic Blackout" is spreading on social media. What is it?
Over the past few weeks, information has been spreading on social media about a nationwide economic protest called the "Feb 28 Economic Blackout."
The call to action — or rather inaction — is asking that American consumers refrain from making any purchases at major retailers on Friday, Feb. 28. The protest comes as people continue to endure rising prices on everything from food and gas to housing and utilities, epitomized by the soaring cost of eggs which in January averaged $4.95 a dozen.
"I'm just not going to spend any money tomorrow," said Pat Gavin-Gordon, 83, who lives in Minneapolis, Minnesota. Gavin-Gordon learned of the boycott from an email circulated among a small group of friends of hers which she describes as "socially responsible women who try to do things for the community and help people."
A lifelong social activist, Gavin-Gordon said she marched along highway I-25 in Denver with civil rights leader Cesar Chavez in the '70s. She sees Friday's protest as a way to voice her disapproval of many things she said she sees going on today, from the cancellation of DEI by corporations to the Department of Government Efficiency's firing of thousands of federal workers.
"All these young people were being laid off for bad performance, which is not true at all," said Gavin-Gordon.
Also supporting the Economic Blackout is Isabel Cotarelo from Kingston, New York. "I'm all for 2/28 Economic Blackout to demonstrate that the majority of people don't agree with the way things are being taking over the richest man in the world, how the oligarchs are supporting this government and only care about enriching themselves," the 69-year-old artist told CBS MoneyWatch.
Tesla CEO Elon Musk — the world's richest person, with a net worth of $398 billion — has been tasked by President Trump to oversee DOGE, in slashing government spending and cutting the federal workforce.
"One day of Economic Blackout may not impact the corporations gravely, but they will see that there is action and that action, hopefully, will inspire more people to resist this horrendous path my dear country is going through," Cotarelo said.
What is the People's Union USA?
Behind the boycott is a group called The People's Union USA, a self-described grassroots organization founded by John Schwarz, a 57-year-old dad originally from Queens, New York, who has been promoting the consumer blackout for weeks on social media.
Founded by Schwarz this month, The People's Union says it has no political affiliation, but focuses on "fairness, economic justice and real systemic change."
Some postings for the event created by online supporters have suggested a targeted boycott of retailers like Ford, McDonald's, Meta, Target and Walmart that have ended their DEI programs to comply with an executive order signed by President Trump in January. However, official messaging from The People's Union suggests a boycott of all major retailers, with the goal of enacting broader economic change.
"What we're doing here is trying to cause economic resistance against the corporations and politicians to stand for the people," Schwarz told CBS MoneyWatch. "I think people may be able to, at some point, begin to kind of realize those things they're letting divide us don't really exist."
"I agree with both," said Gavin-Gordon of the two simultaneous protests — one for DEI and one for economic change — taking place in the form of a nationwide boycott of corporations on Friday.
"I have stock in Target and they're a local company," she said, adding that the Minnesota-based company was "so great" before it decided at the end of January to scale back its DEI programs, in response to the White House's crackdown on diversity initiatives.
"Oh, they were always giving to LGBT, everything like that. And to think they turn around and cave so quickly ... is just infuriating to me," Gavin-Gordon said. "And I'm really glad that two of the other companies I like a lot did not," she added, referring to Apple and Costco, both of which rejected shareholder proposals to scrap their DEI programs.
"Those are two companies I like, and they did not cave with the DEI. That makes a big difference to me," Gavin-Gordon said.
In a protest separate from the Feb. 28 Economic Blackout, activists in January called for an indefinite boycott on Target stores starting Saturday, Feb. 1.
The Economic Blackout has also received support from celebrities including John Leguizamo, Stephen King and Bette Midler, each of whom has posted information on the Economic Blackout on their social media accounts.
Schwarz, who not long ago had 11,000 followers on Instagram, where he goes by the handle theonecalledjai, as of this week has 250,000 followers, an accumulation he says occurred within seven days.
"It's been really overwhelming," said Schwartz, adding that traffic on the People's Union website spiked to more than 600,000 views over the past week and the group gained 55,000 signatures for its newsletter.
Why Feb. 28?
Schwarz explains on Instagram that he originally picked the Feb. 28 date to provide "time to get amped up, to push this out there and really spread the word."
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 says in a video on Instagram. "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.
What if nothing changes on Friday?
"If 10,000 people don't go shop on Friday, or 10 million don't go shop on Friday, it doesn't matter to me. It's already started," Schwarz said. "Friday's our metaphorical shot in the air. It's us saying we're here. Like, it's everybody who's tired and exhausted."
