Chile 2017 Presidential Election

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admin
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Re: Chile 2017 Presidential Election

Postby admin » Thu Jul 13, 2017 10:04 pm

Here we go.

Chile's credit rating downgrade for the first time in decades.

http://www.reuters.com/article/chile-ra ... SL1N1K4278

2008 crisis, nope

2010 earthquake, nope

And anyone that tries to use copper price as an excuse should be slapped, because tge copper price has been up and down multiple times since then

Thanks bachelet.
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tombrad2
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Re: Chile 2017 Presidential Election

Postby tombrad2 » Thu Jul 13, 2017 10:16 pm

"A little bit of hunger and a little bit of cold", if this discredit the progressive policies maybe will worth to pay the price in the long term :D
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Re: Chile 2017 Presidential Election

Postby admin » Thu Jul 13, 2017 11:36 pm

Long version of the rrasons for the downgrade.


https://www.bnamericas.com/en/news/bank ... le-rating/
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Re: Chile 2017 Presidential Election

Postby admin » Fri Jul 14, 2017 10:38 am

well, let's see if the Chilean stock market takes a wipper today. Down a few points at the open, but nothing too stange so far.
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Re: Chile 2017 Presidential Election

Postby admin » Fri Jul 14, 2017 11:08 am

the problem is, not that Chile's sovereign rating was lowered a little bit. The problem is that it has a cascade effect through the economy. Corporate debt get's down graded, borrowing costs goes up, investment decreases, even if the central bank cuts rates again, it does not have the impact on borrowers. so on, and so forth.

All the news this morning is placing this squarely on bachelet's shoulders and the arrogance of her government.
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Re: Chile 2017 Presidential Election

Postby admin » Fri Jul 14, 2017 5:18 pm

Ipsa just broke 5000, i bieve that is a new all time high
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41southchile
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Re: Chile 2017 Presidential Election

Postby 41southchile » Sat Jul 15, 2017 8:54 am

Yeah thanks MB and her crew what a fantastic job they have done, local headline in yesterday's paper.
Aumenta el número de campamentos en la región: de 50 a 59 en un año
I.e the very people she was supposed to help are worse off and more of them are worse off, looks like everyone has been screwed equally by this bunch of inept and corrupt lot. At least December may merely bring us a corrupt lot, I'd say they can't possibly do any worse at mismanaging an economy.

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Re: Chile 2017 Presidential Election

Postby admin » Sat Jul 15, 2017 10:33 am

Here is the domino effect. Credit ratings on banks and finacial instutions being downgrade now:

https://www.df.cl/noticias/mercados/mer ... 42026.html
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Re: Chile 2017 Presidential Election

Postby admin » Sat Jul 15, 2017 11:33 am

The goverment is trying to blaim it on external forces, yet i see they are paying for poor people to go on vacation.

Yea that is what the poor need, a free vacation. Le's take out a more international debt to send the poor on vacation and a million other bonos de bonos for obsurde crap the country does not need.

This last year direct give aways outstriped spending on public infrastructure projects.
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tombrad2
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Re: Chile 2017 Presidential Election

Postby tombrad2 » Sat Jul 15, 2017 1:36 pm

Excessive public spending is like an epidemic disease, we can see it in most part of the world, almost no government in the world is willing to control their spending nowadays, Chiles government started in 1990 and the speed of spending just has increased with Bachelet, but the tendency was clear since long time, even in Piñeras first term. Im pretty sure that Piñera will be unable tu cut the useless spending if he took office in 2018.

To cut the free vacations, bonos, free tuition of universities for everyone, even for those who are bad students, will be no easy to do, no politician in Chile is willing to make those painful actions, people is accustomed to free vacations just like an addict is accustomed to heroin, welfare and "bonos" are just like drugs, most of people consider it their entitlement.

And some people is getting rich with this, Government build expensive apartment blocks to give the poor people for almost nothing, they are entitled and the constructors make good money. Jesuitic priest from Hogar de Cristo and their many branches encourages the massive inmigration of people from Haiti and Colombia, they establish in campamentos and then "Techo" (a branch of Hogar de Cristo) make a fortune building thousand of homes for them, it is like Chaplins movie "The Kid", where the kid broke windows and Chapling replaces, they create the problem and then make money fixing it.

The good thing is that some day, not to far away the government will have not a single peso to spend, the only way to stop taking drugs is have no money in pockets to purchase it.
Arica in a nutshell (updated) at :
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Space Cat
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Re: Chile 2017 Presidential Election

Postby Space Cat » Sat Jul 15, 2017 7:43 pm

The shittiest part is not that they spend money but _where_ they spend it. Instead of making free school education decent at last to give more opportunities to poor, funds go into the knee-jerking bono nonsense you're describing. Patching effects instead of solving the causes.

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tiagoabner
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Re: Chile 2017 Presidential Election

Postby tiagoabner » Sun Jul 16, 2017 2:48 am

I'm not too familiar with how these bonos and free vacations work, as I've been here for only 8 months and I don't have that many local friends. Can someone kindly explain what are you referring to? Free government-paid vacations? Is that even a thing?


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