Obsidian Market Update 5/07/21
As we head into Mother’s Day Weekend (already!), we want to share some interesting news about the gasoline shortage some areas of the country are facing. Then, more than you ever wanted to know about the origins of Mother’s Day and how it’s celebrated around the world.
Many of us remember the gasoline shortages of the 1970s–standing in line at fuel pumps, only being permitted to fill up on certain days of the week, etc. And it’s not a time any of us wants to repeat.
Now, after a little more than a year of a pandemic, we see fuel shortages again–and this time, petroleum is abundant. So what’s the problem? First, some areas of the country face a deficit because of the lack of drivers to get the fuel to the service stations. Not only that, but the trucking companies are short on back-office staff, qualified mechanics, and dispatchers. Plus, registered inspections and design-certified engineers are also in short supply.
A little over a year ago, the country went into lockdown, and millions of Americans lost their jobs. Between pandemic layoffs, older truck drivers retiring, about 70% of truck drivers, left the industry in 2020. Plus, being licensed to operate an 18-wheeler isn’t enough to drive a fuel truck, which requires extra certifications that many don’t have. So as the CDC loosens travel restrictions and people want to get back on the road, we’ll have to keep an eye on the fuel supply issues.
As always, remember that we carefully monitor and diversify your investment portfolios in many different sectors, so if there are any fluctuations in the stock market as a result of the fuel supply problem the impact will be minimal.
Speaking of maximum enjoyment, don’t forget Mother’s Day is this Sunday, May 9. So, we got curious about how other countries around the world honor moms. Here are some interesting facts:
Thailand celebrates Mother’s Day on August 12, as that is Her Majesty Queen Sirikit’s birthday. As queen, she is considered the mother of all Thai people, and the holiday was officially set on her birthday in 1976. Father’s Day in Thailand is the king’s birthday, December 5.
Mother’s Day in Bolivia is about more than just honoring the love and work moms put into their families. Their holiday is in specific remembrance of a group of mothers who banded together to fight back the Spanish army during their early 19th-century struggle for independence. A national law passed in 1920 made May 27, the day of their heroic attempt, Mother’s Day in their honor.
Indonesia’s Mother’s Day falls on December 22, the anniversary of the First Indonesian Women’s Conference in 1928–the first convening of women in a governmental body. The event marked the beginning of women’s rights movements in Indonesia.
Ethiopia doesn’t have a specific date–instead, they celebrate Mother’s Day (or Antrosht) in October or November when the rainy season ends, and everyone can make the journey home for a big, three-day celebration.
However you observe Mother’s Day, we hope it’s a beautiful weekend for you and your family.
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