Don't go back the insane economics of the 1970s! - Comment - Israel News | Haaretz Daily Newspaper
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    • MARK KLEIN, M.D.
    • 08.08.11 | 07:39 (IDT)

    America won't bail out the Israeli economy again as it did in the early 1980s. Crippled by debt back then to finance ruinous subsidies and harebrained social welfare schemes of the 1970s the Israeli Lira relentlessly swooned to point there were currency black markets in Tel Aviv and Jerusalem. Haaretz and the Jerusalem Post reported daily black market rates on the front pages! From what I can see from visiting mispacha in Israel twice annually there are two fundamental problems--not enough land and cartel pricing. I feel terrible for my children and grandchildren who are clearly being robbed blind for basic food items at the supermarket. Dairy, meat, bread and cooking oil prices are in my opinion outright highway robbery. Netanyahu has be as tough on the cartels as he is with the enemies of the Jewish State.

    from the article: Netanyahu anticipates 'enormous change' in Israel's economy
    First published 02:10 08.08.11 | Last updated 02:10 08.08.11
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