Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : WAR on Terror. Will it engulf the Entire Middle East? -- Ignore unavailable to you. Want to Upgrade?

To: DeplorableIrredeemableRedneck who wrote (14881)	8/6/2006 12:06:54 PM
From: DeplorableIrredeemableRedneck	Read Replies (1) \| Respond to of 32591

Israel's economy copes well - for now By Jorn Madslien Business reporter, BBC News news.bbc.co.uk Bank of Israel governor Stanley Fischer's insistence that his country's economy will escape relatively unscathed from the ongoing conflict stands in sharp contrast to the enormous damage being done to Lebanon's. A month ago, the Israeli economy was storming ahead "There is damage to the [Israeli] economy," Mr Fischer acknowledged. But he predicted that the economy's growth rate was likely to slip by "less than 1%". Growth this year should thus come in at 4.5%, weaker than last year's 5.2% growth rate and well below earlier predictions of 5.5%. But the overall message is that Israel is coping successfully - unlike Lebanon, where transport and public works minister Mohammed al-Safadi estimated the damage caused so far at $2bn (£1bn). That's an expense the country can ill afford, given that it had just got back on its feet after the 1975-1989 civil war. Tourism compensation Broadly speaking, the $130bn Israeli economy is holding up well, while Lebanon's has, in the words of Prime Minister Fuad Saniora, been shattered. But Israel is feeling the pinch in some areas. The country's tourism industry started suffering as soon as the crisis began to escalate, and it has got worse since. Many tourists who were there when war broke out have left and many of those who had planned to come during the peak season are not turning up. Israel has seen a 20% drop in tourism since the war begun. But the industry is not displaying any signs of panic, largely because the government has said it will compensate the sector for its losses. Market strength Industrial output has also slipped since the start of the war. Many tourists are staying away from Israel Some factories have been closed for short periods. Mobile phone firm Motorola has warned that its Israeli production facilities are suffering disruption. "We also sell our products and services throughout the Middle East and demand for our products and services could be negatively impacted by the hostilities," Motorola said in a statement. Such gloom is far from universal, though. The shekel remains strong, having bounced back following last week's interest rate rise, and the stock market has rallied back to roughly where it was before the conflict began. Deals - including large mergers and takeovers - are still being done and foreign investors remain interested in Israel. Traditionally, dealers in both currency and stock markets tend to pull out during times of crisis. The fact that they have not done so en masse this time means they believe Israel's economy remains fundamentally sound. "After they understood that Israel will stick to its macroeconomic policies, the markets started to return to prior levels," said Mr Fischer earlier this week. Uncertainty remains Israel is confident that it can comfortably carry the cost of war. On the face of it, the extra military spending could threaten Israel's continuing recovery, when coupled with a fall in government earnings from taxation and VAT due to the sharp drop in economic activity - particularly in the North of the country. The effect on the [Lebanese] economy is going to be very, very drastic BLC Bank's chairman, Shadi Karam Lebanon economy reels as attacks continue But the central bank estimates that the country's budget deficit should rise by only 0.6% because of the ballooning military budget. The overall effect of the extra spending and the fall in receipts should knock 2% from the country's economic output in 2005, according to Mr Fischer, who also thinks Israel should meet its 2% budget deficit target for 2007. Rising inflation poses another threat to the Israeli economy. "Due to these events, inflation is expected in the short term to rise above its previously expected level," according to Mr Fischer. "The Bank of Israel, in conducting monetary policy in the coming months, will need to take into account both the possible rise in inflation and the likely slowdown in activity." None of this is the sort of language employed by someone running an economy in crisis, and indeed Israel remains healthy for the time being. But future projections all depend on a quick peace, however, so the guardian's of Israel's economy can not afford to be at all complacent.

To: DeplorableIrredeemableRedneck who wrote (14881)	8/6/2006 8:09:43 PM
From: lorne	Read Replies (1) \| Respond to of 32591

Darren. here is that article you were looking for...took a lot of searching as I had forgot where I had stored it. The Difficuilties of dialogue with Islam. 1) During an official meeting on Islamic-Christian dialogue, an authoritative Muslim person, speaking to the Christians participating, at one point said very calmly and assuredly: "Thanks to your democratic laws we will invade you; thanks to our religious laws we will dominate you." Full article >>> sspx.ca I have been living in Turkey for the past 42 years, a 99.9% Muslim country, and I have been the Archbishop of Izmir - Asia Minor - for the past 16 years. The theme of my intervention is therefore obvious: the problem of Islam in Europe today and in the future. I thank Bishop Pelâtre, who already spoke about this theme in this prestigious assembly, dispensing me therefore of a long examination and relative interpretations. My intervention is to make a humble request of the Holy Father, above all. To be brief and clear, first I will mention three cases that, due to their provenance, I believe to be true: 1) During an official meeting on Islamic-Christian dialogue, an authoritative Muslim person, speaking to the Christians participating, at one point said very calmly and assuredly: "Thanks to your democratic laws we will invade you; thanks to our religious laws we will dominate you." This is to be believed because the "domination" has already begun with the "petro-dollars" used not to create work in the poor North African or Middle Eastern countries, but to build mosques and cultural centers in Christian countries with Islamic immigrants, including Rome, the center of Christianity. How can we fail to see in all this a clear programme of expansion and reconquest? 2) During another Islamic-Christian meeting, always organized by Christians, a Christian participant publicly asked the Muslims present why they did not organize at least one meeting of this kind. The Muslim authority present answered in the following words: "Why should we? You have nothing to teach us and we have nothing to learn." A dialogue between deaf persons? It is a fact that terms such as "dialogue," "justice," "reciprocity," or concepts such as "rights of man" and "democracy" have a completely different meaning for Muslims than for us. But I believe that by now this is recognized and admitted by all. 3) In a Catholic monastery in Jerusalem there was-and perhaps still is-a Muslim Arab servant. A kind and honest person, he was respected greatly by the religious, who in turn were respected by him. One day, he sadly told them: "Our leaders have met and have decided that all the 'infidels' must be killed, but do not be afraid because I will kill you without making you suffer." We are all aware that we must distinguish between the fanatic and violent minority from the tranquil and honest majority, but the latter, at an order given in the name of Allah or the Koran, will always march in unity and without hesitation. Anyway, history teaches us that determined minorities always manage to impose themselves on reluctant and silent majorities. It would be naive to underestimate or, worse yet, smile at the three cases I have mentioned; I feel that their dramatic teaching must be considered seriously.