Well-Made World 38

In another piece for the LRB, Henry Siegman sets things straight in terms of Israel/Palestine, discussing the truce (rather than ease restrictions in Gaza during the truce, he explains, Israel tightened its hold on the city, while Hamas was acknowledged to be quite effective in preventing rocketfire, including from groups like Islamic Jihad); Hamas on the terrorist list (Siegman reminds us that when it became a political party, Hamas publicly ended its suicide bombings and kassam fire, until the blockade); and the conception that Israel is acting as part of a widespread "war on terror" (as he writes, "It is too easy to describe Hamas simply as a ‘terror organisation’. It is a religious nationalist movement that resorts to terrorism, as the Zionist movement did during its struggle for statehood, in the mistaken belief that it is the only way to end an oppressive occupation and bring about a Palestinian state. While Hamas’s ideology formally calls for that state to be established on the ruins of the state of Israel, this doesn’t determine Hamas’s actual policies today any more than the same declaration in the PLO charter determined Fatah’s actions").

In other news, the NYT reports today that layoffs are expanding to sectors of the economy such as manufacturing, retailing and information technology. To this end, we have a piece from NE favorite Paul Craig Roberts on the next real estate crisis, which, he argues, will hit commercial real estate. His answer to the question of the hour--who will finance the next wave of debt in the US, once Obama brings the deficit to the $3 trillion mark?--is Americans, via inflation.