At 65 Israel Defies Global Economic Meltdown
Summary ... Although the nation is only 65 years old, Israel has managed to sustain itself in one of the world's worst economic disasters. And it has done so by demonstrating fiscal responsibility, sustained economic growth, and a well-regulated banking system — all without a stimulus package or a real estate bubble.
While most of the world is afflicted by an economic meltdown, Israel demonstrates fiscal responsibility, sustained economic growth with no stimulus package and a conservative, well-regulated banking system with no banking or real estate bubble.
At 65, Israel's credit rating is sustained by the three leading global credit rating companies: Standard and Poor's (S&P), Moody's, and Fitch Ratings. Moreover, the International Monetary Fund (IMF) commends Israel's economic performance and expressed confidence in its long-term viability.
Kasper Villiger, Chairman of the United Bank of Switzerland (UBS) indicated that China, Hong Kong, Brazil, Russia and Israel are the future growth engines for UBS. Deloitte Touche, one of the top four global CPA firms opined that Israel is the fourth most attractive site for overseas investors. The Swiss-based Institute for Management Development (IMD) ranks the Bank of Israel (Israel's "Federal Reserve") among the top five central banks in its 2012 World Competitiveness Yearbook for the third year in a row.
At 65, Israel's economic indicators are among the world's best. For example, during the 2009-2012 global economic crisis Israel experienced a 14.7% growth of gross domestic product (GDP), the highest among OECD countries. Israel's 2012 GDP growth (3.3%) led the OECD which averaged 1.4%. Israel's 2012 GDP of $250 billion catapulted 120 times since 1948. A $1,132 GDP per capita in 1962 surged to $32,000 in 2012. Israel managed to reduce its debt/GDP ratio from 100% in 2002 to 74% in 2012, while most of the world experiences a soaring ratio. A 450% galloping inflation in 1984 has been held in check in recent years — 1.6% in 2012. Israel's 2012 budget deficit and unemployment were 4.2% and 6.9% respectively, much lower than the OECD average of 7% and 8%. Foreign exchange reserves — which are critical to sustain global confidence in Israel's economy and Israel's capabilities during emergencies — expanded from $25 billion in 2004 to $75 billion in 2012, 26th in the world and one of the top per capita countries.
At 65, Israel's robust demography — which leads the Free World with three births per Jewish woman — provides a tailwind for Israel's economy.
At 65, Israel attracts the elite of global high-tech due to its competitive edge. For instance, the prestigious Shanghai Jiaotong University's Academic Ranking of World Universities includes four Israeli universities among the top thirty computer science universities in the world. Twenty universities are from the US, four from Israel, two each from Canada and the UK and one each from Switzerland and Hong Kong.
At 65, Israel leads the world in its research and development manpower per capita: 140 Israelis (per 10,000) and 85 Americans (per 10,000) are ahead of the rest of the world. Israel's qualitative workforce benefits from the annual Aliya (immigration of Jews) of skilled persons from the former USSR, Europe, the USA, Latin America, and Australia, who join graduates from Israeli institutions of higher learning. In addition, Israel's high-tech absorbs veterans of the elite high-tech units of Israel Defense Forces. Israel dedicates 4.5% of its GDP to research and development, the highest proportion in the world.
Israel's defiance of unique security and economic challenges has produced unique, innovative and cutting edge solutions, technologies and production lines, which have attracted global giants. For example, Eric Schmidt, Google's Executive Chairman, considers Israel "the most important high-tech center in the world after the US." He has invested in Israel's high-tech via his own private venture capital fund, Innovation Endeavors.
According to world renowned investor, Warren Buffet, "If you're looking for brains, [Israel] has a disproportionate amount of brains and energy." In 2006, Berkshire Hathaway, Buffett's investment company, made its first ever acquisition outside the US, in Israel, acquiring 80% of Israel's Iscar for $4 billion.
Intel operates four research and development centers and two manufacturing plants in Israel, and invested in 64 Israeli start ups. Microsoft's CEO, Steve Ballmer calls Microsoft as much an Israeli company as an American company, because of the importance of its Israeli technologies. Some 300 US high tech giants have research and development presence in Israel. Many, among them, invest in — and acquire — Israeli high tech companies.
George Gilder, the author of The Israel Test and a high-tech guru, stated: "[Israel] is the global master of microchip design, network algorithms and medical instruments ... water recycling and desalinization ... missile defense, robotic warfare, and UAVs. ... We need Israel as much as it needs us."
At 65, Israel has become an offshore natural gas producer, which has enhanced its economic viability, reducing its dependency on imported energy, and rendering it a net natural gas exporter by 2017.
At 65, the ongoing wars, terrorism and global pressure are realistically assessed as bumps on the road to unprecedented economic and technological growth
[ Published: June 4, 2013 ]
Islam as a religion and Muslims as a group have continued to ignore Jerusalem as a non-entity and continue to bow toward Mecca when they pray. However, the myth that the Temple Mount is actually the place of Mohammed's alleged ascent continues to exist. That myth has become factual history, as the Arab/Muslims claim that the Jews' most holy site, built thousands of years before Christianity or the beginnings of Islam belongs to Islam. And the West continues to believe the myth as the Mullahs babble about their non-existent history, harking back to the Philistines and other tribes long gone.
Hamas explains general principles and objectives in 42-article document.
PA/PLO leader Abbas seems intentionally to ignore that he and his PA/PLO are responsible for the violence, as a result of their daily incitement against Israel. A recent poll found that approximately half of 'Palestinians' believe the "Intifada" should lead to the destruction of Israel.
This is an account of what happened in Halamish last Friday night, July 21, 2017, as told by a neighbor of the Solomon family, who lives three doors away from where the terror attack took place.
The tragedy of the pro-'Palestinian' movement is its attachment to a single narrative: "Look at how wretched the lives of the 'Palestinian' people are," they tell us, "It is because of Israeli oppression." Because this narrative must be constantly reinforced, there is little room for real reporting about the failures of the 'Palestinian' leadership and the corruption and infighting that have caused the 'West Bank' [i.e., Judea & Samaria] and Gaza to languish.
The Arab leadership is attempting to portray the current Intifada as a kind of popular, spontaneous struggle that expresses the population's despair over the political situation. In reality, it is an Intifada supported and directed by the Arab leadership of the PA/PLO-Fatah and Hamas.
US Jewish leaders blew it recently when what was a rare opportunity to ask the US president face-to-face to release Jonathan Pollard, they didn't even consider the matter as being a priority.
Obama needs to wake up. The real enemy is not Netanyahu. The real enemy is Iran, Hizb'Allah, Hamas, Islamic Jihad, and Islamic State, and the establishment of a terrorist state in the midst of Israel.
It's no state secret that US President Barack Obama is not a huge fan of Israeli Prime Minister Benjamin Netanyahu. His distain for the Jewish leader is well-known throughout the world; he's never tried to hide it. But now that Israel is having new elections in March does it mean Obama could, either directly or indirectly, influence the elections in Israel in order to obtain a defeat for Netanyahu?