Uncensored News from Israel » economy

Peres, Jewish rich set to destroy the Dead Sea

admin — Fri, 16 May 2008 10:27:22 +0000

Shimon Peres finally arranged private financing for his Red Sea - Dead Sea channel from Jewish billionaires. Ex-Soviet Jews readily recognize the communist mega-projects of turning the rivers backwards and connecting the seas.
A multibillion-dollar project spells ecological catastrophe for the Dead Sea and creates up to a million jobs primarily for Jordanians.

Bank of Israel: Israel is oligarchy

admin — Wed, 16 Apr 2008 19:12:18 +0000

According to the newest report, 20 families own 40% of the stock market capital. The previous reports were somewhat worse.

Finance Ministry refuses reimbursing Heftziba victims

admin — Tue, 08 Apr 2008 19:59:56 +0000

In a short breath of the common sense, the Finance Ministry announced it cannot be reimbursing the victims of corporate bankruptcies. The Knesset insists on reimbursing the cheated home buyers.

Bank of Israel approves long-term intervention

admin — Fri, 21 Mar 2008 22:14:17 +0000

The national bank of Israel will be buying $25 mil daily to increase its reserves by $10 bn, a considerable amount for small Israel. The bank’s move is a boom to importers and complete waste to Israeli taxpayers: when the entire world dumps US dollars, Bank of Israel accumulates that highly inflationary currency.

Water crisis in Israel

admin — Fri, 21 Mar 2008 22:04:31 +0000

Israeli Water Authority warns that water level in Israel’s all three aquifers will fall below the red line this year, meaning that fresh water will mix with salt water or other pollutants, making it unusable.
The Water Authority demands further cuts of water supplies to Israeli farmers, draconian rates for non-essential use which includes private gardens, and Spartan use of water by Jewish families.
Israel continues uninterrupted supply of water to Gaza and the Palestinian Authority, and Jordan pumps water from the Jordan River at will.

Gaza blockade is unprofitable

admin — Thu, 20 Mar 2008 13:54:19 +0000

Israel, Egypt agreed that Egypt will supply electricity to Gaza. Now the Israeli threat of cutting electricity supply to Gaza is moot, and Egypt got the lucrative business of monopolistic power supply to Gaza.

Bank of Israel plays dangerously

admin — Sat, 15 Mar 2008 21:21:42 +0000

Israel’s National Bank purchased undisclosed amounts of US dollars against shekel. The bank’s move will draw attention of international currency speculators who would dump the US dollars on Israel at a relatively favorable rate sponsored by the Bank of Israel. The bank’s resources fall incredibly short of US dollar amounts available to speculators.
The weakening of US dollar against shekel is prompted by overall weakness of US economy, the historically overvalued dollar, gradual switch to euro in international transactions, but also by the highly distorted Israeli economy. In Israel, the rich grow richer, export more, and bring more US dollars into the country. The poor grow poorer, and have insufficient demands for imported goods, and therefore for the US dollar.

African parasytes claim their rights

admin — Fri, 22 Feb 2008 16:43:45 +0000

Leftists protest Israeli government’s plan to relocate the illegal African migrants to Israel’s north and south borders to work in agriculture. The migrants demand Israeli minimum wages, tens of times more than their income in the places of earlier habitat, and “human rights” groups find it easier to work with their African pets in Tel Aviv.

Construction Ministry blames Olmert

admin — Tue, 12 Feb 2008 19:23:02 +0000

for holding off the approval for thousands of housing units to be built in the areas of Jerusalem which Palestinians imagine to receive in the peace process.

Power consumption peaks in Israel

admin — Wed, 30 Jan 2008 17:38:17 +0000

Israelis are urged to reduce the consumption of electricity which is still freely supplied to Gaza.

Israeli water supply is critical

admin — Thu, 17 Jan 2008 23:10:48 +0000

Kineret is close to its lowest winter level ever, at 65% of average water capacity. Israeli continues uninterrupted water supply to Gaza.

Israeli socialism assessed statistically

admin — Tue, 15 Jan 2008 20:24:59 +0000

The Heritage Foundation’s Index of Economic Freedom ranks the Jewish state a 46th country. Still better than North Korea.

Israeli electricity grid operates at peak capacity

admin — Mon, 14 Jan 2008 20:29:25 +0000

Due to the cold season and using heaters, Israel is close to electricity failures. Israeli Supreme Court only reviews electricity disconnections in Gaza, but Jews can suffer freely. At the same time, Israel continues supplying electricity to Gaza.

Another tycoon flees Israel

admin — Wed, 09 Jan 2008 22:46:49 +0000

Lev Levaev moved his family to London, where several other Israeli tycoons reside and hide from the outrageous Israeli taxes.

$12 billion diamond exports in 2007

admin — Fri, 04 Jan 2008 12:04:07 +0000

Though the added value in diamond production is significant, Israel substantially acts as a transshipment point for diamonds, including the blood diamonds from war-torn areas and gray diamonds from places like Angola where Livaev and his friend former Mossad head Danny Yatom established a micro-empire.

Israeli unemployment surprisingly low

admin — Wed, 19 Dec 2007 18:46:01 +0000

Israeli Statistics Bureau cited unemployment in Israel at 6.9%. Unemployment declines since the start of Intifada because Israeli government barred Gaza’s workers from Israel.
The rate is suspiciously low, given the rampant unemployment in Arab and ultra-Orthodox sectors whose members engage in black market economy.

Israel increases subsidies to Arabs

admin — Tue, 18 Dec 2007 21:14:27 +0000

Knesset adopted a law on negative income tax: a subsidy for low wage earners. That means, Arabs who engage in black market economy.

Israeli electricity price at all-time high

admin — Mon, 12 Nov 2007 22:14:02 +0000

Israeli Jews absorb the costs of electricity consumed by Israeli and Palestinian Arabs who don’t bother paying for it.

Devastated consumer market: shekel reaches new high against dollar

admin — Thu, 08 Nov 2007 19:58:51 +0000

Lackluster consumer demand cannot offset foreign investments. The rich become richer, and the poor - poorer. Insufficient growth of consumer imports drives shekel up and threatens Israeli export capabilities.

Bank Hapoalim stops transactions with Gaza

admin — Tue, 25 Sep 2007 18:01:34 +0000

Hapoalim can enjoy Arab deposits undisturbed by their owners.

Heftziba’s boss arrested in Milan

admin — Fri, 31 Aug 2007 14:54:59 +0000

Heftsiba’s story is yet to emerge. It is not clear how Heftsiba’s top managers could expropriate so much money for the company failed in a booming real estate market. The role of Peace Now needs to be investigated. Peace Now forced freeze on Heftsiba’s major project in Modiin out of concern for poor Arab villagers nearby.
Almost every other large real estate developer in Israel follows Heftsiba’s model, and many borrow heavily through variable-rate instruments at Tel Aviv Stock Exchange, which make them extremely vulnerable to fluctuations of interest rate.
Bank of Israel promised to repay all customers of Heftsiba who paid through banks. The message is clear: imprudent customers can continue dealings with fraudulent companies; Israeli taxpayers will compensate them.

Casinos could open in Israel

admin — Wed, 29 Aug 2007 22:51:54 +0000

The Finance Ministry considers permitting casinos. The issue, however, is hardly financial but a moral one. Casinos will handsomely add to Israeli pantheon of brothels and shops selling pork, vodka, and neo-Nazi literature.

Japan invests $100 million in Peres’ project

admin — Mon, 13 Aug 2007 21:28:05 +0000

Japan government’s funds will go into industrial projects in the “peace valley” between Israel and Jordan. Due to its remoteness and harsh climate, the industrial park is likely to attract ecologically dangerous factories. One such factory exploded today near Beersheba; eight workers hospitalized and road to Beersheba blocked for hours.

Cabinet squanders the 2008 budget

admin — Sun, 12 Aug 2007 13:47:04 +0000

Financial Ministry’s proposals of cutting thousands of government sinecures are rejected. Ministers demand financing for their pet programs. The budget increases despise possible economic slowdown the next year. The army, lacking strategic goals, will waste $12 billion in 2008.

Finance Ministry appeals to minors

admin — Wed, 08 Aug 2007 16:31:04 +0000

Faced with implacable MKs demanding ever rising allocations for their constituencies, Finance Ministry decided to raise a new generation of MKs. Elementary school curriculum will include classes on financial responsibility.

Israel marches toward socialism

admin — Mon, 06 Aug 2007 17:49:30 +0000

Year 2008 budget of US$80 billion is Israel’s largest ever, one of the highest per-capita allotments in the world. Education expenses largely attributable to Israeli Arab parasites fuel budget deficit of 1.6%. Education budget hike will increase teachers’ salaries without altering that moribund pool of unskilled leftist appointees.
Defense budget increase of $10 billion over the coming decade is laughable on the background of Saudi one-time arms purchase from America of $8 billion.

Ultra-Orthodox Jews settle account with contractors

admin — Thu, 02 Aug 2007 19:43:04 +0000

After the Heftziba real estate company went bankrupt with $300 million in debts, hundreds of ultra-Orthodox Jews settled the homes owed to them by the company. Police threatens to evict the religious Jews so that the houses can be sold to satisfy Heftziba’s bank debts.

Socialism makes bread short

admin — Thu, 05 Jul 2007 14:25:25 +0000

Most Israeli bakeries stopped making bread following the populist government’s refusal to allow 12% price hike in response to 30% increase in world market’s flour prices.

Junk bond casino opens in Israel

admin — Thu, 05 Jul 2007 00:31:51 +0000

The infamous Milken Institute launched junk bond program for Israeli north. Milken Institute is a quasi-academic offshoot set up by Michael Milken, jailed in the US for machinations with junk bonds. Milken is barred from investment activity, and set up the Milken Institute as nominally non-financial front for his dirty operations.
Milken envisages a patriotic junk bond casino for Israeli north affected by the Lebanon war. As other Milken’s schemes, this one will milk the investors.
Milken Institute asked Israeli government to assist the scam.

Shas party vetoes bread price hike

admin — Tue, 03 Jul 2007 00:07:51 +0000

Trade Minister Eli Yishai refused to endorse 12% increase in bread prices. Israel, like socialist and third world countries, regulates prices for bread, petrol, and many other products.

Controversial anti-socialist program extended

admin — Sun, 01 Jul 2007 18:15:37 +0000

Israeli government extended the Wisconsin program for two years but remove 45+ year olds from the hook and relaxed welfare requirements for the rest. The program provides incentives to entrepreneurs for employing the jobless and requires jobless Israelis to imitate job-hunting.
Israeli leftists understandably oppose the anti-socialist program. The right and religious parties also oppose it because their constituencies largely belong to the society’s economic bottom.

Only 87 Israelis own over $30 million

admin — Thu, 28 Jun 2007 17:19:49 +0000

Only 7,200 Israelis, or 0.1% of the population own over $1 million. In contrast, over 8,000,000 Americans or 2.3% of the population are millionaires. So much for the smart Jews.

Gasoline prices rise to $1.56 per liter

admin — Thu, 28 Jun 2007 17:12:08 +0000

Israeli price is a bit higher than in EU countries and almost three times the US price.

Israel will trust strategic enemies

admin — Thu, 24 May 2007 08:52:08 +0000

Infrastructure Minister ben Eliezer mulls buying gas from Palestine and Russia, oil from Turkey. Barak gave Israeli offshore gas oilfield near Gaza to Palestinians.

Israel will pay a billion dollars a year to Palestinians

admin — Wed, 23 May 2007 13:00:59 +0000

Israel negotiates with British BG group on buying gas from offshore gas field near Gaza. Barak gave the field to Arafat for unspecified cut and BG subsequently received the development rights. The field contains a trillion cubic feet of natural gas.
The gas deal adds one billion dollars annually to the cost of Israel abandoning Gaza to Arabs.

Israel is too risky for Leviev

admin — Wed, 16 May 2007 12:36:33 +0000

Russian Jewish oligarch Lev Leviev buys another building in New York for $200 mil, will invest another $100 mil. In a separate deal, Leviev invests $243 mil in Russian real estate.
Putin chose Lev Leviev to replace another Jewish billionaire Gusinsky as Russia’s top Jew. Leviev had urgently set up a network of Jewish organizations parallel to Gusinsky’s. After Putin ousted Gusinsky, his old Jewish organizations went down. Putin pays Leviev for spearheading Russian interests in Israel with diamond concessions in Russia.

Israeli rich become richer

admin — Tue, 15 May 2007 09:32:09 +0000

The top ten companies grew 24% over the year, five times above the economy average.

Israel the colonial economy: consumer imports rise 5 times below the average import growth

admin — Mon, 14 May 2007 08:43:29 +0000

Israelis become relatively poor as the economy growth. Such economic layout is typical for oligarchic post-socialist or colonial economies. Consumer imports rose only 3.7% on the annual basis while overall exports rose 21%. Raw materials’ import grew only 11% as Israel becomes more dependent on imports of technologies.

Intel invests $31 mil in six Israeli start-ups

admin — Thu, 10 May 2007 13:33:31 +0000

The investment is trivial by venture capital market standards. Intel’s investments provide it with cheap use of Israeli patents. Oligarchy and socialist-era regulation suppressed Israeli venture capital firms.

Microsoft will invest $20 mil a year in Israel

admin — Wed, 02 May 2007 10:28:33 +0000

Microsft’s investment commitment in India is $1.7 bn

Israeli Marxist economy: concentration progresses

admin — Wed, 02 May 2007 10:28:05 +0000

Industrial output of the 250 largest companies rose 10.5% in 2006 to 2005, far outpacing economy in general. Employment increased 3% and average salary - only 5%. Oligarchy and socialist over-regulation impedes the development of small businesses. The expansion of large export companies amid the stagnation of consumer purchasing power and imports caused shekel to rise sharply.

Oligarchs divest from Israel

admin — Mon, 30 Apr 2007 06:09:58 +0000

Livaev buys $525 mil NY Times building, upping his New York investment to a billion. Livaev’s friends range from ex-Mossad’s Danny Yatom to Putin. His associate Gaydamak will run for Jerusalem mayor with pitiful prospects.

Bank of Israel cuts interest rate to 3.75% to stop shekel from rising

admin — Mon, 23 Apr 2007 09:14:22 +0000

Five earlier reductions didn’t help. The current interest rate threatens inflation. Shekel rises because of Israelis’ relative poverty and highly unequal income distribution: foreign investment and exports of a few large companies outpace consumer imports.

Fake increase in foreign investment

admin — Tue, 17 Apr 2007 11:36:34 +0000

Of $1.5 bn reported for 2006, 55% is Intel Corp.’s commitment spread over 10 years. Average annual investment until 2017 projected at merely $150 mil.

Bank of Israel is satisfied with falling dollar

admin — Sat, 14 Apr 2007 14:19:44 +0000

Rising shekel hurts Israeli exports. Shekel increases against dollar due to high-tech boom.