Wednesday, January 17, 2018

Economic Journalism a-la-HaAretz

The Central Bank of Israel decided to reduce the commission that small businesses pay to the credit card companies from 0.7%  to 0.5%. The idea, obviously, is to increase the use of credit cards and to improve the living standard of the population. How is this presented in the vicious anti-Zionist fishwrap HaAretz?

Front page of the economic section The Marker: "The Bank of Israel gave a present worth many billion sheqels to the banks". What? one may ask. It just reduced the profits of the banks, where is the present? HaAretz reasoning: The commission in the European Union is 0.3%, so by not reducing it to the same level, the Central Bank has benefited the credit card companies. But that is not all.

On page 4 of the same supplement, the title says: "The businesses will pay 2 billion sheqels more because of the slow reduction of the credit card commission." Thus, for HaAretz, the reduction of the commission hurts the credit card companies AND the small businesses. Should I have time to read the whole paper I may find a third article about how this reduction hurts the customers and specially, the poor, the disabled, and most of all, the oppressed segregated Palestinians in their bantustans.


The main article of today's paper deals with my former boss, Alex Viznitzer. The police has recorded all his phone conversations in the last ten years and the thing has reached HaAretz. Honest to God, my feeling while reading his out of context quotations was: Poor Alex, he was being sabotaged by competing bureaucracies and he asked for help from the Minister and political allies. He also tried to find ways to circumvent the "zonot" (sic). On the other hand, he was photographed with a black shirt (pic), revealing not only his vulgarian Pridnestrovian taste but also his membership in the Black Hand maffia. He was also negligent as water engineer (the blue hard hat identifies him as a pipe fitter or technician): look at the missing bolts in the flange and the overall corrosion.

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