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An economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market; this is the definition of Capitalism (merriam-webster.com).

It’s this system that gave birth to

Which banks are you working for?  A stunning statistic shows the nation’s biggest banks own 63% (up from 17% in 1995) of America’s GDP (Gross Domestic Product): http://finance.yahoo.com/news/Financial-Debate-Renews-nytimes-391084522.html?x=0.  If you’re like me, you’ve spent a countless number of months, years or decades paying banks like Chase (corporate headquarters photo below) and Bank of America.  So, where do decades of payments lead you?  Is there an end in sight or is it acceptable that pay day means banks get paid and borrowers will endlessly pay?

A recent story in the Sunday edition of the New York Times discusses  the nearly 30 year long financial fog (which, we’ve become very accustomed to) of cheap credit, low savings and a historically high dependence on banks.  As Wall Street recovers from the most economically shocking financial crisis since The Great Depression, it’s safe to say the days of  record low interest rates, easy underwriting and care free personal finance on Main Street are coming to an end.  

Is your world coming to an end today?  Maybe the answer is in daily activities; as fast as the average person hustles from one place to the next, chasing the accomplishment of another task on a different day, a “fly on the wall” could very well conclude most people  are rushing as though the world ends everyday while thinking as if life is forever….

In our fast paced world, simple (sometimes the most important) things often tend to go unnoticed.  While visiting a local university today  it was hard to help but notice facial expressions and body language of students and faculty.  In such a diverse atmosphere as a college campus, it hit me.  Literally every person within sight showed (facial expressions and/or body language) one of two of the most common feelings nearly everyone experiences every single day.  We are a bored and busy society.

What’s the quickest way to reduce and eliminate debt?  Everyone listens closely when the topic of debt comes up in today’s changing economy.  The purpose of this entry is to display an example showing how fast or slow anyone can decide to get out of debt.  The more common way (making minimum payments and applying more money towards certain accounts at different times) is obviously the slow way.  Here’s the formula and an example of how to calculate the time and distance between you and financial freedom: