Livni Cries Foul Over Partisanship

Current FM and PM hopeful Tzipi" I need to get the hair out of my eyes" Livni has blasted both the Shas and Labor parties for trying to use the economic recovery plan for political gain.

According to an article in Globes, Livni said, "It is infuriating to see political parties trying to make partisan gain at the public's expense. The opposition of the Labor Party and Shas to the emergency plan demonstrates why people should not vote for sector-based parties.The opposition of the Labor Party and Shas to the emergency plan demonstrates why people should not vote for sector-based parties."

Though i hate to admit it, i agree with her that they shouldn't try to make political hay out of an economic crisis. More so spending money on welfare payments and infrastructure projects is no answer. The clear answer to help extricate Israel from an economic slowdown is by cutting taxes, and making easier for small and mid-sized businesses to actually conduct business in Israel. Along with income tax cuts, we need corporate taxes to be trimmed and we need to give small businesses large scale relief in paying Arnona (municipal tax.)

As for Livni, she complained that, "It is infuriating to see political parties trying to make partisan gain at the public's expense." I have one quick question for her. Ever hear of the Kadima party?

And Now Fischer is Worried?

I give up. Last week as I wrote Bank of Israel Head Stanley Fischer said everything was great with the Israeli economy as well as the Israeli banking system. Keep in mind that I pulled news reports that showed how, factually, it's just not true. Well, after heeding my call to come clean with the Israeli public Fischer now says that he is 'worried' about the health of the Israeli economy.

According to a report in Globes, "We expect 2.7% growth in 2009, and we're accused of over optimism. In such times, if you want to be serious, you should be worried, and I am really worried. Wise men won't tell you that there is nothing to be worried about." I guess that means I am a wise man!!!! I have never been accused of that before.

Did something actually happen in the last 72 hours to change his mind? This is getting crazy. If we can't trust Fischer to tell us the truth about the Israeli economy who can we trust?

The Globes article continued that Fischer warned of rising unemployment as well as worsening credit conditions and raised the prospect of companies having a hard time getting financing. In English we call that potential bankruptcy!

Gov. Fischer, if the banking system is so sound, why should companies have trouble accessing local credit markets?

My feeling is that the banking system is not all that healthy and as customers, you had better watch out.