A unique perspective - The truth matters .
The staff did not like what was happening and broke in to steal all the food. Apparently as word got around the small town, the stores angry creditors even joined in. They dismantled everything that was left including light fixtures, pulled out wiring, and ran off with the cash registers, even as CCTV cameras were rolling.
While all this was going on, the parking lot was filling up with normal shoppers who had heard about the supermarket going bust. They left car engines running and brought their children to clean the shelves out. Finally even the shelves were taken away, leaving only fruit to be taken from the floor by latecomers.
This two day spree was meant to have shocked Israelis who like to think that the rule of law always prevails in their country.
This story confirms that the economy did indeed flatten late last year after half a decade of growth, and has now finally fallen into recession.
The outbreaks are isolated but labour activists and social commentators have warned Israelis are becoming desperate.
Benjamin Netanyahu has said it is a top priority to deal with the looming economic depression, and he will do whatever he can to fend off looting.
Apparently much of the country has not been focused on what has been going on due to fights with Hamas in the Gaza strip.
But as smoke clears and the general public look for different news stories, they are beginning to uncover a horrible truth about their once rich land.
The economy will shrink by 1.5% this year, compared to growth rates of 4% in the last 5 years. The global downturn is taking its toll, and the bank of Israel predicts an 11% decline in exports which account for half the value of everything the country produces.
Israelis are blaming other Israelis for the problems. There were the tycoons who gambled in overseas real estate and lost, bringing down Israel’s financial markets. Or the bankers who tightened credit, the entrepreneurs who faltered under debt burdens and started bouncing cheques.
Whatever has happened to this once great economic nation means nobody is safe from this terrible financial depression and we must now wait to see the full affects of the downturn and what we will be left with when it has finished its path of destruction.
Credit Crunch Hits Israel
While nations across the world are in a desperate struggle to retain their economies,
Israel (once considered untouchable) has seen looting in shops due to an unbearable
recession.
One of the supermarkets was called God’s Blessing and staff there had not been paid in 2 months. They were then subsequently laid off and told to go home with nothing.
