The Second Lebanon War taught us something new about the Israeli economy. In 2006, we were sure that the economy would get caught up in a crisis and deep recession following the barrage of rockets on the north, which we feared would hit Tel Aviv. But it turned out we were wrong. The economy was unusually strong and stable. It did shift down a gear for one quarter, but it returned to its previous pace of growth...
We'll all pay on doomsday
A military assault on Iran will also spell a sharp rise in oil prices, which will intensify the global recession and make us even less popular in Europe and the United States than we already are.
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