Business
Nearly 20,000 fired in January
Mickey Peled, Calcalist
Published: 17.02.09, 13:45
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8 Talkbacks for this article
1. Hold on to your belts you are in for a very very rough ride
Al   (02.17.09)
As I have been saying for 5 months since the beginning of the stock market meltdown, that it was time for people with a brain to hunker down, slim down their expenses and to wait for the storm to pass. But nooooo, like morons everywhere in the western consumer world, people went out spend every friggin dime they could get their hands on and pissed it all away. Now they are expecting the government to wipe their asses as they were too friggin stupid to save for a rainy day. Well welcome to stavation mode..Settle yourselves a chair and get ready to eat the meal of hunger. Dumb dumb dumb.
2. Compare that to half a million people losing their jobs
Rivkah   (02.18.09)
each month in America, and Israel's problems don't seem so bad.
3. #1 - wrong
ilan ,   tel aviv   (02.18.09)
Actually, your lack of understanding of basic economics is pretty scary. This crisis has nothing to do with people's spending habits. And, despite what you pledge as the way to live, an economy doesn't grow with people saving all their money. In fact, the only way out of this crisis is to spend your way out of it. The "storm" doesn't pass without you spending your way out of the storm. Check your history books. Consult an Economics 101 book before you make any statement regarding the economy.
4. Rivkah #2
Jared ,   New York, USA   (02.19.09)
The United States has 42x the population of Israel. If Israel had 300,000,000 people in it as America does, those 20,000 job losses would equate to 840,000 job losses. As a percentage of the labor force, the layoffs in Israel are worse than in America. This is unfortunate though not surprising, as Israel never had the fundamental strength and resilience of the major Western economies.
5. EIFO HISTADRUT?
ELGRANCOCO ,   K.GAT   (02.19.09)
EIZO MEDINA!!!
6. #3 - wrong
Danielle ,   centre   (02.19.09)
no.1 rule of economics.....in a recession: cash is king. btw...lets see the US in, hum 5 - 10 years.....you think that by spending what they don't have things will be made right???? ever felt a depression + inflation?
7. Thanks #6 for the backup
Al   (02.19.09)
Try to explain to young pishers what we old farts know by heart. I guess the new pishers have to learn on their own. Hey #3 how many grush do you have saved up? Bet ya you dont have a hell of alot..
8. #6
ilan ,   ta   (02.20.09)
"cash is king" is not the #1 rule in ECONOMICS. What you meant to say is that it's the #1 rule in protecting yourself against unfortunate economic events. Getting past thinking about yourself, an economy is based on consumer consumption. By not spending you are helping yourself in the very short-term, but hurting the economy in the long-term, which in all likelihood will hurt you personally even more. Both of you are really scary in how you think. "cash is king" will turn the recession into something much worse. The more intelligent thing to do is to save more during good times and spend more during bad times. But I can't expect anyone to listen because most people are greedy and care only about themselves. That is, after all, why there are ups and down in any economy. Trying to educate you but I am sure it has fallen on deaf ears. Enjoy!
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