Pinchas Landau writes about Israeli and Global economics, finance and politics
The country has a new (designate) Governor for its central bank. Nothing is known about him, whether and why he is suitable, or what he thinks — or even knows — about the Israeli economy. Netanyahu alone decided what’s good for the independent central bank. His will be done.
» Read moreSeptember 5, 2018
The previous issue presented an extensive discussion of the ‘challenges’ being encountered with regard to the appointment of the next Governor of the Bank of Israel — including a review of the legal and procedural requirements, why the process is again proving so difficult, as well as the ideological and policy implications involved in finding a ‘suitable’ candidate.
August 27, 2018
This issue will extend over two separate sections, both focused on the theme of impending changes of persona occupying senior positions, in most cases the top slot in a particular organization or hierarchy.
August 19, 2018
Bottom line: The economy is continuing to grow rapidly, driven by domestic consumption. However, the data for both Q1 and Q2 were massively distorted by sharp swings in vehicle imports — which soared in Q1 but slumped in Q2. More important is the ongoing decline in investment in residential construction and in new plant and equipment, other than vehicles. Export growth was sluggish, while import growth was strong — the external sector continues to be a drag on growth.
May 16, 2018
Bottom line: Déjà vu all over again. The boom in vehicle imports is back, stronger than (almost) ever. That made consumption and investment the twin drivers of growth, while imports surged three times as much as exports, so that the external sector once again dragged growth down instead of contributing to it.
August 12, 2018
Turkey’s worsening crisis is the result of Erdogan’s megalomania, not Trump’s bullying. But that will not be how it is seen by Turks…and many others.