Israel slowly commits suicide
Economist Prof. Dan Ben David, argued that the Israeli economy is held together by 300,000 people (the senior staff in universities, tech companies, and hospitals). Once a significant portion of these people leaves, he says, “We won’t become a third world country, we just won’t be anymore.”
So guess what has happened since October 7? People fleeing Israel has increased 285%.
Latest reports of the exodus of Israelis confirms data published two months after the 7 October attack which showed that nearly half a million people left Israel. It also showed a significant decline in the number of Jewish immigrants arriving in Israel. A second survey among Israelis living abroad conducted in March by the Hebrew University on the initiative of the World Zionist Organisation revealed that 80 per cent said that they do not intend to return to Israel.
Israel has less than 10 million citizens, so half a million is a big chunk. You can bet that most of the people leaving are the sort of people Israel needs the most.
The genocidal war continues to have a huge negative impact on the economy.
Data shows that Israel’s economy is experiencing the sharpest slowdown among the wealthiest countries of the Organisation for Economic Cooperation and Development (OECD).Its GDP contracted by 4.1% in the weeks after the October 7 Hamas-led attacks. And the downturn continued into 2024, falling by an additional 1.1% and 1.4% in the first two quarters...
In its July 2024 forecast, the Bank of Israel revised its growth predictions to 1.5% for 2024, down from the 2.8% it had predicted earlier in the year.
On a related note, Germany and Britain have started suspending arms exports to Israel, which just leaves the U.S. even more isolated.
Comments
In the words of an obscure fictional character...
Also, somebody must've gotten a real kick out of actually getting to use the phrase "exodus of Israelis".
In the Land of the Blind, the One-Eyed Man is declared mentally ill for describing colors.
Yes Virginia, there is a Global Banking Conspiracy!
46,000 businesses have gone bankrupt
.
because their workers are busy killing Palestinians. Plus their tourist industry is in the toilet because who wants to visit a country committing genocide?
Plus the Houthis have shutdown and bankrupted one port.
If Iran and Hezbollah attacked together and destroyed lots of military stuff…. Well too bad.
I’d feel bad for Israelis if most of them weren’t in favor of what’s happening in Gaza.
“When out of fear you twist the lesser evil into the lie that it is something good, you eventually rob people of the capacity to distinguish between good and evil.”
~ Hannah Arendt
Losing even loyal foreign investors.
Intel has decided not to build another plant in Israel.
Chipmaker Intel to halt $25-billion Israel plant
Intel opened up a research center in Israel in 1974. I believe the engineer who developed the programmable EPROM was from Israel. I believe at one time Intel was Israel's largest high tech employer.
Hard to see foreign investment coming into Israel with a very good chance of war devastating all of the country.
I'm very involved
in the semiconductor industry, and I'm actually quite amazed that Intel has finally come to their senses and pulled the plug on that effort. If they think that it is hard to get good semiconductor talent to relocate to Arizona, their woes would be quadrupled in trying to get people to relocate into an eternally-active war zone...
Twice bitten, permanently shy.
Probably true outside high tech also.