The following days and weeks will begin a spreading dialogue that will be private through my blog and writing to expand to include the announcement of partnerships to publicly announce the diverse group who has been involved in a project and movement that will have a positive impact on the way our personal financial and business world operates. Then, the national spotlight will be cast on the media stories about our movement including the launch of a foundation, a personal finance media group, and the Dynamic financial product/services business units and model. What movement are you referencing? What are you talking about? I know many questions exist. The one truth is the quality of life and economic climate of America is damaged after the 2008 crisis. The economic success of America is behind the widespread financial health of the consumer base. The consumer base is a financially sick entity. High Unemployment, high poverty levels, and one third of adult Americans are left out of the mainstream financial system are symptoms of a systemic problem outside personal responsibility. This is translating into a loss of freedom and prosperity in America. The quality of life is in a spiral decline, and the future will continue bleak in lieu of current conditions. What is wrong? What can we do?
The current financial system is in shambles in being a benefactor to the American society who is suppose to have access in our modern world to live and exist. The consumer who has been excluded is enslaved to a lower quality and economic status in life. As the industrial revolution took hold two centuries earlier, reading literacy was a baseline factor for individuals to break the escape the trap of poverty in the modern industrial world. This became an accepted fact in all aspects of social life. The same is true of financial literacy in lieu of the technological revolution. The financially literate individual is achieved as reading literacy in the education of the nation. However, financial literacy is not accepted in the mainstream of American society as important to the quality of life. The education curriculum does not embrace the teaching of personal finance as important to the preparing for becoming the age of majority in America. Why is financial literacy important in 21st Century America? The past provides insight into our problems of current day.
In the post war (1945) period, the education system did not teach financial literacy. The difference was the community banker role in both communities large and small in the United States. The American Dream was open to any person of any socio-economic class in America. My father and uncle were benefactors of working extremely hard to start a new business or creator of a new invention, and the community banker was the resource to provide financing to these entrepreneurs without the personal funds to provide financing based on the success potential of the business venture. The community banker was the driver of widespread prosperity in the middle class by being an avenue of finance for small business opportunities throughout the United States. The community banker would act in a partnership after providing the necessary financing to onboard the business owner into becoming financially savvy entrepreneurs to foster growth and ability to receive future financing. The community banker of my father’s or uncle’s generation is no longer the reality in a modern day America. The parents of the next generation were never taught the principles of financial literacy, and were not able to transfer the knowledge down to another generation to ensure the same opportunity in a changing financial landscape. The removal of the community banker has left a vacuum in today’s world for the innovators to have a platform to come forward. Today’s debtor society is the dominant attitude as someone turns the age of majority in America. How are these 3 aforementioned items impacting our economic challenges of today?