Israel’s Economy Continues To Roar

[Purveyor]

What’s Israel’s secret to success? Being at the right place at the right time.

The Jewish state’s success is all the more remarkable considering its lack of natural resources such as oil and the constant threat of armed conflict with its neighbors. Moreover, Israel receives about $3 billion in US foreign aid, the largest of any foreign country. It also spends a huge amount of money on defense — 7.3% of GDP — because of the small country’s many enemies.

Economically speaking, though, things are going great for Israel. The country’s burgeoning high-tech and biotech sectors have fueled an explosive growth. According to the CIA World Factbook, Israeli GDP expanded by 3.4% in 2010, up from 0.2% in 2009. Per capita income is $30,000.

Israel also was not scarred as badly as other countries by the meltdown in the worldwide banking system. The country’s stock market has been on a tear as well, gaining 88% and 15% in 2009 and 2010 respectively. The benchmark TA-25 Index is down 2.3% this year, underperforming U.S. indexes – a performance that is not surprising considering the turmoil in the Middle East.

MORE...

http://247wallst.com/2011/02/24/israels-economy-continues-to-roar/

[JDPriestly]

1. Creative people. And across the Middle East, people could enjoy

this kind of economic power if they just settled down and focused on making their lives good.

Maybe once the dictators go, they will be able to do that.

We liberals need to keep supporting liberals in the Middle East wherever they are.