It has been a very tense and strenuous economic month. Now I don’t understand that much about world economics but reading the papers looking at different television stations both our local, European and American TV stations and it makes you wonder.

I have no doubt that what we are seeing today and how history will remember this are to different things.

     My heart goes out first and foremost to the thousands of people who lost their jobs in these big companies like Leman brothers or some of those mortgage banks. To those whose jobs have become insecure because their companies may not be able to get loans to keeps the business going. To the people whose savings have been slashed and those who may find themselves not able to pay the mortgages and their houses foreclosed.

     I can't help but wonder who these fools that are running these finances. Or maybe they are no fools at all just greedy. The heads of these companies receiving salaries and bonuses in the millions and caring very little for anyone or anything else. I wonder if any of them will pay the price for their incompetence.

     As for the politicians my opinion as usual is very mixed up. Here you have a president in the states sending an emergency bill to congress that doesn’t approve it, 2 presidential candidates that explain how righteous they are and how wicked the other is. Then more politicking and its approved. In Europe it seems the leaders are much more professional.

They didn’t wait, they meet, and they put an immediate plan and work hard to restore confidence. Buying banks, bailing out companies, guaranteeing home owners and citizen's savings.

     In our country thank god the pressures are very low. Actually god had very little to do with it. Here we are a nation of people that save. Statistics show that people here will put away up to 20% of their yearly earnings. Although we love to live well people won't go on vacations or buy new cars not to mention houses unless they are pretty sure they can afford it. The same nasty government that tries to regulate my farm, my workers, my earnings my healthcare and even my way of life, regulates the banks the insurance companies, and the loan exchanges.

Not that the banks probably don’t give out bad loans but it’s a limited situation.

 So this time around I cheer the regulators. There is no need for our government to bail out any company or even send an emergency package to market. We have a different problem.

Since our economy is stable it attracts foreign investors sending our shekel up and the euro and $ down. As exporters we receive less and less local currency for our flowers and that is a very big headache for us.

     Going back to world economics I have no doubt the world will go green again very soon but until that happens a world slump is always very bad for our markets. We may have to prepare ourselves for a slow and tedious season.


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