Kevin Drum traces this use of the term back to 1985, as that decline of the middle class was becoming obvious. It's probably also got to do with the rise of WalMart, which always seems to be the scene of Black Friday tramplings and now pepper spraying.
Many societies have found pleasure in watching the lower classes fighting each other. Slaves in the Roman coliseum, for one example. So today we have Black Friday.
Angry Black Lady points this out.
And a tweet from @rationalists:
We need to make this a meme.
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