You certainly know that energy prices have gone up this year. In particular, the price of oil has risen. And energy price increases have played havoc with Western economies.

In 2000, investors thought the world was a “different” place. “You have to value Internet companies differently,” people would say. “Ignore the triple-digit P/E… That is an obsolete way to value a company.”

Sometimes economics works like a domino effect. When one area of the economy goes bad, many others will follow. So many areas of our economy are related, and many are related closely. From the way population effects food supply, to how the price of oil can change almost anything.

Wow… Here is an act of entirely commendable proportions.

It’s not excluded that, after having carefully examined the situation, that we could decide to move our rates for a small amount at our next meeting. I didn’t say it’s certain. I said it’s possible.” — European Central Bank President Jean-Claude Trichet.

Everywhere I look, I see the word “bubble” – quickly followed by the word “burst” or “deflate”. So what exactly is a “bubble”? Well, it used to be the sort of thing that one had in a hot tub bath when there was a lot of soap.

“It’s just crazy to think of oil over $100,” one snowy-haired gentleman said. “It will be interesting to see what happens when it goes to $150″ says Justice Litle.

The United Nations announced yesterday (Wednesday) that an additional $20 billion would be needed each year to combat global hunger.

Let’s begin at the beginning, shall we?…as the egg goes, so goes the chicken. A game of consumer product mousetrap…desperate times for the airline industry and the manufacturing sector. Is this a rerun of the 1970’s? Don’t pull out the shag carpeting and the disco ball just yet…and more!

You hear it everywhere in the press… “Oil is in a bubble and it’s all down to speculators driving up the price”.