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Israeli EconomyIsraeli Economy
October 31, 2011 Monday
Storm clouds gather over economy
Steinitz is very worried about Israelís economy
Israel economy did not sink like most of the West, but black storm clouds are gathering around us too.
Israel has high growth and low unemployment.
Israel succeeded in bringing in a high level of investments directly into our economy, most from the USA and Europe. Israeli industry is also heavily reliant on exports to the West.
PERPLEXITY - No way out
The world financial system cannot function. Europe really doesnt know what to do and neither does the Fed and the Bank of England.
Many US, UK and European banks are insolvent.
The real estate market continues to deflate throughout Europe with the exception of Germany.
The euro has serious problems as does the pound and the US dollar.
Anyone holding currencies has been a major loser.