“Given this sorry set of circumstances, does Zionism and Aliyah offer any hope of protecting the Jewish people, or is the only realistic protection a return to Torah and Mitzvahs until the time of Moshiach?”
Honestly, I don’t think so. I am happy that Jewish people are currently in control of (parts of) Eretz Yisrael, but I would not be comfortable living there under the current circumstances. I just can’t rely on open miracles to ensure that I would be safe living there. If you think you can, good for you and good luck to you. Now is not my time and nobody can convince me otherwise.
Perks of living scattered all over the world: it’s much harder to C”V harm us all in one go. (Don’t tell me the story of how Hitler yemach shemo had a globe in his office which marked the locations of every Jew he could find, right down to one guy in Albania. It would still be hard.) If every single Jew in the world makes aliyah to Israel, we’d all be sitting ducks for our enemies to nuke in one easy place! Have you ever thought about that? There’s a reason why Yaakov Avinu separated his family into two camps when he was about to meet Eisav. Why not emulate the ways of our G-d-fearing forefather instead of falling for the agendas of a secular government?
I think we are much better off preserving our lifestyle of Torah and mitzvos wherever we are than coming to a state that’s about as Jewish as Billy Joel’s or Barbara Streisand’s music, where they attempt to strip you of your religious values little by little.
Oh, and by the way, the economy in Israel STINKS! Just look at the exchange rate, people. If the economy in Israel were better, then we’d be getting four dollars for every shekel, not the other way around.