Stock Preacher

Crude Oil prices sank about 6% on Wednesday after data showed crude inventories surged the most since April, reminding the fundamentals were still weak. Light, sweet crude for September delivery closed off US$3.88, or 5.8% to settle at US$63.35 bbl on the New York Mercantile Exchange. According to the US Energy Department’s Energy Information Administration (EIA), crude stockpiles rose by 5.1 million barrels for the week ended July 24, the biggest surge since April, driving the total stockpiles to 347.8 million barrels, 9.5 percent higher than the five-year average for the period. Crude Oil prices headed even lower after the Commerce Department reported that new durable goods orders fell 2.5% in June, the largest percentage drop since January, after rising 1.3% in May. London Brent for September delivery dropped US$3.60 to US$66.28 bbl on the ICE Futures exchange.

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Gold steadied above US$950oz yesterday but was off the previous day’s 6-½ week high as caution returned after prices neared US$960. Gold has mostly moved in a range of US$945/960 oz for the past week with strong technical resistance towards the US$960 oz level, which was last touched on June 11.

Gains have also been capped by weak physical demand. High prices, combined with the fact that it is a slow season for gold demand, have forced jewelers in India, the world’s largest consumer of the metal, to step back to the sidelines. Gold XAU was US$955.20 oz at 0619 GMT, up 0.3% from the notional close in New York of US$952.65. It rose to a 6-1/2-week high of US$958.70 on Monday. U.S. gold futures for August delivery GCQ9 were $955.50 an ounce, up 0.2%

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Your Financial Net Worth Statement

Your net worth is an indication of your total wealth. You can calculate your net worth with this basic equation: total assets less total liabilities equal net worth. The table will shows this equation in action with a net worth of $169090 a very respectable number. For many investors just being in a position where assets exceed liabilities is a great news Use the table below as a model to analyze your own financial situation. Your mission is to ensure that your net worth increase from year to year as you progress toward your financial goal.

Your Personal Net Worth

One reason you continue to work is probably so that you can pay off your bills. But many people today are losing their jobs because their company owes, too!

Debt is one of the biggest financial problem in America today. Companies and individual holding excessive debt contributed to the stock market’s massive decline in 2000 and the U.S. Recession in 2002. If individuals managed their personal liabilities more responsibly, the general economy would be much better off.

One reason of the United Stated appeared to be doing so well during the late 1990s was the fact that individuals and organizations went on an unprecedented spending binge, financial mostly by excessive debt. The economy looked unstoppable. However, sooner or later you have to pay the piper. Stock prices may go up and down, but debt stays up until it is either paid down or the debtor files of bankruptcy. As of the 4^th quarter of 2004. U.S debt has surpassed a mind-boggling $37 trillion, which means that consumers, businesses, and government will continue dealing with challenging time through this decade.

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