The price of Brent Crude oil reached over $100 today for the first time since the peak prices reached in the summer of 2008. There are concerns about what is happening in Egypt and the risk that it might affect oil tankers travelling through the Suez Canal.

The likelyhood of problems with the Suez canal seem unlikely but there has been a steady rise in the price of oil over recent months and that is a serious concern. The steady price rise of oil has been blamed on rising demand as economies around the world begin to recover from the economic downturn and that should concern everyone.

If we have these price rises while consumers are subdued and ecomies are stuttering along just imagine what could happen to the price of oil if, and when, world demand starts to seriously pick itself up. The price of oil could double and that would bring problems to everyone as prices and inflation rapidly rise.

There is not much we as individuals can do to avoid these increased costs we may face in the future and the best thing we can do is to reduce our current spending and debts so our financial situation is as strong as we can make it so we can cope with whatever hppens in the world.

Money Magic: Seven Simple Steps to True Financial Freedom (Quick Reads)

I’ve been away getting my head adjusted. You see I had thought for a long time that excessive borrowing was going to lead to problems in the future and sure enough it did. Or did it?

Now we are being told by govenment leaders from around the world, led by our own it seems, that the solution is that governements borrow even more money use it to put more money into city institutions who are, apparently, going to pop down to the high street and buy lots of goods and push moeny into the economy and make us all better off.

Now maybe I’m not the brightest kid on the block but I thought the problems were caused by excessive borrowing. Actually that should be half of the problem. The other half was the rampant greed and speculation in derivitives by banks and other financial groups which, of course, were using borrowed money to fund their mad excesses.

So now the plan seems to be that when times are good we must stick to cautious financial limits and avoid borrowing but when times are bad we borrow like there was no tomorrow

Money Magic: Seven Simple Steps to True Financial Freedom (Quick Reads)

This looks like a bit of fun to relieve the stress of worrying about money.

Money Magic: Seven Simple Steps to True Financial Freedom (Quick Reads)