ISRAEL: Troubled Economy of Dreamers

Troubled Economy of Dreamers

The Zionists truly turned Jewish history on its head. For 2,000 years the Jews, often barred from owning land and serving in the military, worked wonders as bankers and merchants. Now we have the Jewish state. The army is among the world's finest, the innovations in agricultural technology are illustrious—and the economy is a mess.

That snippet of typically Israeli black humor rings mighty true. The inflation rate in Israel during 1976 averaged 42%. The foreign debt stands at $10.7 billion—which is roughly the same as Israel's gross...

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