the economy is not on the verge of collapse - Comment - Israel News | Haaretz Daily Newspaper
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    • zionist forever
    • 16.05.13 | 16:43 (IDT)

    The economy is still growing although at a slower rate than it was as a result of the economic problems in Europe and the US who are our main trading partners. The government is making cutbacks to repay debt like other countries are trying to do but we have not over borrowed or facing disaster. Just the opposite, Stanly Ficher has also been buying billions of dollars to keep as foreign currency reserves and these reserves help to avoid recession when times are tough also propping up the dollar which is good for exchange rates for the shekel. If we keep spending like the left want to do then we get into trouble because the only way to do that iis by borrowing and short term benefits lead to long term disaster when we get ourselves into so much debt we will have to make so many cutbacks that its going to hit everybody very hard and the cutbacks being made now will be a drop in the ocean compared to what we will have to do. Short term socialist policy is great but long term it damages the economy causing greater pain to the public. Israels socialist roots are one of the main reasons that for the past 64 years no matter who was in government Israelis have worked longer hours for less money that their western counterparts.

    from the article: David's Harp / Fischer's act of desperation
    First published 09:59 16.05.13 | Last updated 09:59 16.05.13
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