Crude Oil at $119 a barrel, Dollar stumbling, Banks in a crisis...

Wanda Holderman: April 23, 20080 Comments

...seems overwhelming and destined for escalating calamity.


Crude oil supply has further been disrupted by attacks on pipelines in Nigeria that provides 400,000 barrels a DAY. Vigorous demands in China and other emerging markets are driving prices even higher. Saudi Arabia apparently does NOT have plans to increase production because they're uncertain about long-term future needs and if the consumption trend will be sustained. Mexico's oil fields are yielding less than expected.


The US currency is plummeting next to the euro valued at $1.60 against the dollar. Is its dismal performance based on the housing slump? the U.S. Banks under water? Now there's talk about federal funding seeing a cut in the key lending rate to 2%!


As far as U.S. Banks are concerned, the latest victim is Bank of America that is suffering from many culprits: home-equity loan defaults, trouble with small business foreclosures, and home builders decreased workload. Word has it that B of A is 9.9% invested in China Construction Bank and considering an option to buy another 10%. Well, that's diversification I suppose, and an interesting strategy to attempt stabilization.


Whoa....kinda depressing isn't it? OK, "Miss Polly-Anna" (some will say to me), how can I see the glass half-full here? Well, for me, when I feel the world caving in on me and think "I can't take one more thing or I'm going to implode"...I do try to focus on the blessings I still experience living in this great country of ours, despite what seems to be doom and gloom. I have choices and freedoms so many people in other nations do not experience. I'm thankful that I can choose to ride my bike or walk, I'm thankful I can re-adjust my spending to do without my Starbucks coffee or other more costly but certainly discretionary items, I'm thankful that even though my savings is dwindling, I'm rich in friends, family, and folks who care very much for me.


Don't let these seemingly catastrophic conditions get you down, focus on the positive and the things you can control, enjoy each day you are able to take a deep breath and enjoy health and wellness, don't let the "nay sayers" prevail, and by all means always look for an opportunity to encourage.