Economic Contraction and Military Call-up: Israel's Struggle

The numbers are finally in. Israel’s economy has contracted 20 per cent year on year.

It seems the only consolation is that it’s still doing better than the economy of Gaza.  

How long can this level of decline go on? 

With no end to the war in sight, and a new front in Lebanon cracking open, are we witnessing Israel’s fall from the first rank of the OECD? 

Meanwhile, remember the war no one cared about? 

You know – the Second Nagorno-Karabakh War?

Of September 2020?

Between Armenia and Azerbaijan?  

Well, what would you say if we told you the world stands on the brink of Armenia-Azerbaijan War Three? Nothing much? 

Finally, a new Treasury Committee Report says that the Bank of England will have lost £80 billion by the end of the year. That’s cash, not just a paper loss. In fact, the full paper loss is around 250 billion. 

That means the new Bank debt shovelled on the government’s books this year is close to the entire Defence budget. 

Given the present intellectual state of the bank, only one question remains. 

Does anyone have a bridge to sell them?