Palestinians Are No Better With Money Than Their Leaders

The Associated Press reminds us about the economic situation in Gaza:

Unemployment is at least 50 percent in the crowded territory. Aid agencies say 85 percent of the people live below the poverty line. The situation was getting worse by the day after Israel shut its crossings in retaliation for an upsurge in rocket attacks from Gaza.

And yet, when the fence separating Gaza and Egypt came down--

Rami Abdou, an economic analyst, estimated that Gazans spent $130 million in less than two days, a princely sum for the poverty-stricken territory.

"Gazans are withdrawing their savings and are borrowing from each other" to spend in Egypt, he said.

The next time poverty in Gaza is in the news, will the media recall that a major reason for their lack of money is that the Palestinian Arabs left it in Egypt?

And if a Palestinian state is created, will the world ever see the end to having bankroll it?

Technorati Tag: Gaza and Palestinians.