What has Obama Accomplished so far? ( Archived) (180)

If you consider all those who have given up looking for jobs and are no longer receiving unemployment compensation, I believe the number is between 15-20%. It is difficult to count because some people will work under the table at temporary or side jobs without paying taxes and so are not counted in the workforce. I think the official unemployment rate is 14.6%, so 20% in some areas is feasible.

Israel’s economy contracted for a second consecutive quarter, plunging the economy into a recession for the first time in eight years, as exports plummeted and investment in fixed assets slumped.

The economy shrank at a 3.6 percent annualized pace in the three months to March 31, after contracting by 0.5 percent in the previous quarter, the Jerusalem-based Central Bureau of Statistics said on its Web site today.

“We expect the contraction to continue in the second quarter,” Ron Eichel, chief economist at Tel Aviv-based Meitav Securities & Investments Ltd. said in a telephone interview. “One of the reasons is that the government is operating without a budget, which has a moderating effect on spending.”

Gross domestic product is projected to shrink 1.5 percent this year, which would be the worst recession in Israel’s 61- year history, according to a central bank forecast. Bank of Israel Governor Stanley Fischer has cut the base rate by 3.75 percentage points since October to a record low of 0.5 percent to curb the effects of the global financial crisis.

“It’s a recession, a serious recession, but relative to what we are seeing in the rest of the world, it’s not that bad,” Vered Dar, chief economist at Psagot Investment House, said in a telephone interview today.

Prime Minister Benjamin Netanyahu, who entered office on March 31, pushed a draft budget through the cabinet last week that includes spending to boost employment and help companies hurt by the credit crunch. The budget is likely to be approved by the Knesset, Israel’s parliament, by mid-July.

Biggest Drop Since 2001

The quarterly drop is the biggest since 2001, when a global slowdown in demand hurt technology exports, Dar said.

Israel’s TA-25 Index slipped 0.96, or 0.1 percent, to 825.25 at the close of trading in Tel Aviv. The benchmark has gained 26 percent since the beginning of the year, after falling 46 percent last year.

The yield on the benchmark Mimshal Shiklit note was unchanged at 4.78 percent today. The 5.5 percent security due February 2017 rose 0.02 percent to 105.75 shekels.

Exports of goods and services fell an annualized 46 percent in the first quarter, after dropping 45 percent in the fourth, the bureau said. Imports of goods and services dropped 63 percent, compared with a 19 percent decline the previous quarter.

Consumer spending fell an annualized 4.3 percent, after a 3.1 percent drop in the previous quarter.

Alvarion, Blue Square

Investment in fixed assets declined 28 percent, after rising 2.4 percent in the fourth quarter, the bureau said. While home construction increased 3.5 percent, investment by companies in machines and equipment fell 38 percent, it said.

Business GDP slipped an annualized 4.2 percent, after dropping 2.1 percent in the fourth quarter, the bureau said.

Exporters such as Alvarion Ltd., an Israeli maker of broadband wireless equipment, are feeling the pinch. Alvarion’s first-quarter loss widened by 42 percent, compared to the previous year, the company said May 6, and its second-quarter sales outlook was below market expectations. The company said Dec. 8 it would cut its workforce by 11 percent, from a base of 1,000 employees.

Companies that rely on domestic demand are hurting as well. Blue Square-Israel Ltd., the country’s second-largest food retailer, said March 23 that the coming year will be “challenging,” after posting declines in fourth-quarter profit and sales.

Scuse me if someone has said this b4 me.

Saved many jobs through stimulus packages.

Pathed the way for stem cell research for neurone disfunctions and injuries

Making inroads to repairing relations with muslim countries.

Is in talks with russia on a new nuclear deal to reduce the number of nuclear weapons, and passage of weapons through russia

Stopped the n korea ship from docking in myanmar.

More will come to mind soon!

Yes, but even with all that, their economy is in much better shape than most.

Well that not what you said we can all twist our word to make our point but far is far

Not all countries played fast and loose with lending rules as we and some European countries did-Ireland is in terrible shape over that as we are. My point was that generally speaking, not all countries are in as bad a position as we are with debt. Someone on this thread said that the downturn was global, and it is, but the effects are not nearly as bad in some countries.

I agree with you on this point but it not just Obama it is both parties that don't need to work together to get us out of what we are in but most of them are only after what is good for them and what and who can help them stay in office that they car about