More War

 Israel is attacking Iran's leadership and at the same time, it is starting a military campaign against Lebanon's Hizballah. This is not a short war; it is a prolonged conflict sucking in the whole Middle East and even Europe. No doubt, it is a most audacious enterprise to start this chain of events, but Bibi feels we have no choice. As for me personally, it is running to the hardened room when the phone starts talking spontaneously and tells me that I have one and half minutes to get protected. Then I hear the explosions and go back to what I was doing. I have finished today the Pizza project in the airport, and I have many other projects. the remarkable people in Israel are extremely optimistic and keep starting new businesses no matter what. Pic. a 100-story building project in Tel Aviv.

Euphoria in TASE

The successful attack on the Ayatollah Ali Khamenei is causing large upward movements on the Tel Aviv Stock Exchange. Globes says it is euphoria.  The Tel Aviv 35 Index is up 3.67% at 4,279.74 points - a new record. The Tel Aviv 125 index is up 3.85% at 4,231.79 points, also a new record. Trading volumes are very high. The All-Bond Index is up 0.33% at 423.50 points. Insurance stocks are particularly strong with Clal, Harel and Menorah Mivtachim all more than 9% higher although energy stocks are down. Bank and defense stocks are also showing strong gains.

On the foreign exchange market, in late morning inter-bank trading, the shekel-dollar rate is 1.93% lower than Friday, at NIS 3.072/$ that is the shekel is very strong. Iran has effectively closed the Hormuz and oil and gas prices are expected to rise strongly. The war will cause pain to Europe and the Gulf emirates. 

My Granduncle Moyshe asked my mother about names of the family in Vac. He was giving the dead's names to the new generation and had run out of names. In a modest way, I have remade some of my Jaszbereny Grandfather Gyula's prosperity. I am optimist.   

Persian Presents

Pic.: A missile from Iran. The alarm called to go to the hardened room - at least 5 times this night. The phone starts to make noises and then the announcement - you have few minutes to move yourself into a protected place. Then the municipal siren and then the muted explosion in the sky of a neutralized Iranian missile or drone. Your sleep has been ruined and you are a tired zombie for the next 24 hours. Unable to work. 

For us and the USA, this is a war with no casualties. What surprises me? That Iran is focusing its missiles on Dubai, a small, liberal Arab statelet, which is not attacking it. On the other hand, Israel's long-term worry about Iran's nuclear weapons, has been solved for some years. Bibi's courageous leadership did it.

Trump: "A vicious group of very hard terrible people"

 Israel launched a pre-emptive attack against the Iranian regime. At 8 AM here the phone ringed sending me to the hardened room at home. From yesterday evening I have high BP and could not sleep till 4 AM. I am not feeling at my best. The youngest of my sons-in-law were called to the Army. Israel Katz, the Israeli defense minister, announced his country’s strikes in a statement, adding that the country would be under a state of emergency. Anticipating potential Iranian retaliation, the Israeli government announced that schools, workplaces, and the country’s international airspace would close. Purim festivities have been stopped, and we are told the war will take some time. 

The Department of Defense is calling these strikes “Operation Epic Fury.”

We Were A Kingdom

 

Above: Shema (Hear!)

Below: King Yeroboam's Servant

Advisory

 

U.S. TO CITIZENS IN ISRAEL:

“Leave while commercial flights are still available.” The U.S. Gov advisory is urging American citizens to consider departing.

Thank you for the advice. 

The (Amazing) Permitting Business

 I make my living in the last ten years in the permitting business, yet I always considered it a marginal, nuisance addition to the main activity, which is building. I used to belittle it as absurd, incomprehensible, kafkian bureaucracy, but it is something more. I'll think more about this. I never considered it a big economic area but 50% is gigantic.