45 online
 
Most Popular Choices
Share on Facebook 7 Printer Friendly Page More Sharing
OpEdNews Op Eds   

Israel: Rogue State Land of Inequality

By       (Page 5 of 6 pages) Become a premium member to see this article and all articles as one long page.   No comments
Message Stephen Lendman
Become a Fan
  (191 fans)

This piece was reprinted by OpEd News with permission or license. It may not be reproduced in any form without permission or license from the source.

Moreover, for years, middle class wages eroded, lower class ones even faster. Israel's rich alone amassed wealth at the expense of working households. According to Bank of Israel governor Stanley Fischer, about 20 Israeli families control banks, supermarkets, telecoms, real estate, newspapers, high tech companies, utilities, and other basic industries and services. 

The central bank's 2009 annual report showed these families control 25% of Tel Aviv Stock Exchange-listed companies and 50% of total market share, one of the highest concentrations among developed countries.

According to the 2009 Merrill Lynch World Wealth Report, 5,900 Israelis have at least $1 million in liquid assets, and from 2005 to 2007, Israel produced more millionaires per capita than any other country. The net worth of its 500 richest, in fact, exceeds one-third of total GDP, an extraordinary concentration level, and with it a chokehold on the economy and government policy.

Moreover, Israel has 16 billionaires. At the same time, most workers earn low wages and eroding benefits. In fact, wages have fallen from 68% of national income in 2000 to 63% in 2010, heading south as the disparity between rich and others grows. 

Israeli Arabs, of course, are worse off, an issue the above cited articles addressed. 

At the same time, falling wages and social benefit cuts in healthcare, education, and other areas have widened the gap between rich and most others. 

Among all developed nations, Israel, America and Britain are the most unequal, a trend getting worse, not better, showing up now on Israeli streets.

In response, the Histadrut trade union federation has done little to represent workers, its leaders protecting their own privilege and status at the expense of rank and file members they don't serve. 

Next Page  1  |  2  |  3  |  4  |  5  |  6

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).

Rate It | View Ratings

Stephen Lendman Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

VISIT MY WEBSITE: stephenlendman.org (Home - Stephen Lendman). Contact at lendmanstephen@sbcglobal.net.  My two Wall Street books are timely reading: "How Wall Street Fleeces America: Privatized Banking, Government (more...)
 

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines

 
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The McCain-Lieberman Police State Act

Daniel Estulin's "True Story of the Bilderberg Group" and What They May Be Planning Now

Continuity of Government: Coup d'Etat Authority in America

America Facing Depression and Bankruptcy

Lies, Damn Lies and the Murdoch Empire

Mandatory Swine Flu Vaccine Alert

To View Comments or Join the Conversation:

Tell A Friend