-Caveat Lector- >>>Now, back in them early days of the Little Austrian Fascist Feller's (LAFF's) >regime, like weeks if only a coupla months into it, there was an effort afoot in the U.S. (at least) to bring him, the LAFF, down by December 1933 by boycotting German goods, thereby depriving Germany (and obviously the LAFF) of any money to do anything with. This boycott was overridden by some other interests that sought a way to establish a Greater Zion through some financial maneuvers and wheeling-dealing, come to be known as the "Transfer Agreement". Needless to say, the boycott and its replacement failed and everyone can guess what came next. Note there are laws in some countries that prohibit boycotts of some other countries. Note the effects of what happens when those laws are ignored or don't exist. A<>E<>R
>From http://www.metimes.com/2K2/issue2002-33/methaus.htm Economic crisis deepens in intifada- battered Israel by Jean-Luc Renaudie JERUSALEM, AUG 16 The double-whammy of the Palestinian uprising and the global downturn in the high-tech sector has sent Israel's economy into its worst ever recession, and could soon start having major political consequences for Prime Minister Ariel Sharon. Before the key Palestinian uprising started in September 2000 and chased off investment and tourists, and sent military spending skyrocketing, Israel's economy was booming with 6.4 growth in 2000. Following the downturn in the technology sector and the 2000 crash of the US Nasdaq hi- tech index, where some 100 Israeli companies are listed, gross domestic product (GDP) growth plummeted by 0.6 percent in 2001. Now, after another year of seemingly intractable violence, the official statistics bureau admitted this week that GDP retreated another 2.9 percent in the first half of 2002 over the year-earlier period. But perhaps even worse for the Sharon government, whose energies are focused almost completely on "winning" the conflict with the Palestinians, there are other signs of trouble on the horizon. Unemployment has hit a record high and appears set to hit crisis levels. Already 10.6 percent of the working age population, some 275,000 people, cannot find work. Finance ministry experts say they expect the rate to climb to more than 11 percent next year but private sector analysts have issued warnings of a "social catastrophe," predicting a rate of 13 percent. Inflation is also on the rise. The cost-of-living index jumped 0.6 percent in July alone, threatening consumers with an annualized inflation of more than seven percent. A three-hour warning strike called by the Histadrut labor union, which paralysed the public sector Monday, was the latest sign of the growing social discontent that is brewing over the hike in prices. The Histadrout is demanding renewal of an agreement reached six months ago to partially index salaries to inflation, threatening bigger strikes in September if workers' demands are not met. Foreign investment poured into the country in the late 1990s, but in the first half of 2002, it dropped by 52 percent to 1.06 billion dollars. It was off 80 percent from the record levels of 2000. Bank of Israel economist Nizan Shinar even said in a report published Friday that "the growing uncertainties on the government's economic policies is now the greatest threat to the country's financial stability." The shekel has depreciated 20 percent against the dollar since the start of 2002. The decline compelled the Bank of Israel to hike interest rates 2.5 percent over the past two months, bringing a 3.9 percent increase since the start of the year. In a bid to reverse the spiral and prevent rating agencies from downgrading Israel, leading to higher interest rates on foreign loans, Sharon's government chose to slap the country with an austerity package. The 2003 budget proposal adopted by the cabinet on July 30 calls for 1.8 billion dollars in spending cuts, notably in defense and in social benefits for the poor and unemployed. The project has sparked much political jockeying as it still needs to be passed by parliament, where Sharon does not hold a majority. The Labour party and the ultra- Orthodox Shas party both announced they would vote against it. The hardline former general retorted by leaking reports to the press of snap elections for the beginning of next year if he does not get his way. It looks increasingly in the premier's interest to speed up a new vote, since his poll ratings are going steadily downhill. His popularity reached its lowest level since his February 2001 landslide election victory, with 72 percent of Israelis unhappy with Sharon's economic performance. AFP ~~~~~~~~~~~~~~~ A<>E<>R + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Forwarded as information only; I don't believe everything I read or send (but that doesn't stop me from considering it; obviously SOMEBODY thinks it's important) + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + In accordance with Title 17 U.S.C. section 107, this material is distributed without charge or profit to those who have expressed a prior interest in receiving this type of information for non-profit research and educational purposes only. + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + "Always do sober what you said you'd do drunk. That will teach you to keep your mouth shut." --- Ernest Hemingway <A HREF="http://www.ctrl.org/";>www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. 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