It's true that economic pressure makes people look for scapegoats, but there are a lot of cultural references that have to be in place first in order for teh scapegoating to succeed. In Europe, pre-existing anti-semitism coupled with the Depression caused the rise of Hitler and the Holocaust. The Depression alone would never have produced the Holocuast. In Israel, ultraorthodox indoctrination that only Jews are imjportant as well as Likud style hypernationalism also are cultural motifs that lead to racisim, and poverty has nothing to do with them.
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Hamas operative, 24, accused of attempting to attack soldiers on Gaza border (Haaretz)