====2014-05-19 The Greater Depression arrives in Israel===
Since the beginning of the year, sales in shopping malls dropped 5%. Coffee shop chains report a drop of 5-8%. A slowdown is being felt. Real wages are not growing, while household expenses on housing and current accounts continue to grow. Less is left for consumption. From TheMarker business newspaper.
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Note: The collapse of IDB, one of the largest financial corporations in Israel, and corrupt proceedings in the Tel Aviv District Court in that matter, can be considered the true onset of the Greater Depression in Israel. The combination of corruption of financial institutions and the courts is the hallmark of the Greater Depression also in the United States.
Since the beginning of the year, sales in shopping malls dropped 5%. Coffee shop chains report a drop of 5-8%. A slowdown is being felt. Real wages are not growing, while household expenses on housing and current accounts continue to grow. Less is left for consumption. From TheMarker business newspaper.
___
Note: The collapse of IDB, one of the largest financial corporations in Israel, and corrupt proceedings in the Tel Aviv District Court in that matter, can be considered the true onset of the Greater Depression in Israel. The combination of corruption of financial institutions and the courts is the hallmark of the Greater Depression also in the United States.
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