May 13, 2016
In May 2016, the Israeli economy is entering its fourteenth successive year of economic growth — an extraordinary achievement at any time and one of several unique Israeli achievements to date in the 21st century. It’s easy to explain in hindsight, but no-one thought it possible in 2003.
May 13, 2016
Bottom lines: FISCAL POLICY: The budget data are still very good — but less good in April than during the first quarter. We’ll see how this develops. Meanwhile, the deficit for the 12 months ending in April remained at a level equivalent to 2.2% of GDP, so that the deficit /GDP ratio has been in the range of 2.0-2.2% for […]» Read more
May 6, 2016
Unremitting doom and gloom has been the stock-in-trade of this column over the 12.5 years of its existence. Now that it is being discontinued by the editors of the Jerusalem Post, a parting look back shows how that approach proved to be prescient — with the gloom thickening as time goes on. Last decade’s doom seems joyful compared to the current outlook, with America now as hopeless as Europe
April 24, 2016
When mainstream magazines with impeccable liberal credentials allow radical outsiders to write their cover stories, you know the world has changed. While mainstream analyst David Rosenberg asks ‘what has gone wrong’, Jim Grant claims to have the answers — and the enraged public is now ready to hear them
Bottom line: The trade data for the first quarter were lousy and for March they were even worse in some respects. However, they need to be seen in the context of the massive improvement in the trade deficit in 2015. The recovery of exports in the second half of 2015 has been completely wiped out and we are back to […]» Read more
April 11, 2016
FISCAL POLICY: The budget continues to display almost exemplary behaviour. The 12-month trailing deficit through March was 2.2% of GDP, far below the planned level for 2016. The ratio of deficit to GDP has been in the range of 2.0-2.2% for NINE STRAIGHT MONTHS.
POLITICAL ECONOMICS: This gives Messrs Kahlon and Netanyahu…