The Economic Impact of the Social Crisis

National Crisis, Emergencies, and Natural Disasters in Chile; including the experiences of Chile Forum Members have shared in current and in past crisis, as they have assisted each other and Chile. Things will always go wrong. It is how you deal with it that counts, and that starts with information. When things go wrong, this is the place to come to exchange information about what is going on in Chile.
Forum rules
Moderation of this forum will be very strict compared to other sections of the Chile Forum. “Spamming”, “Trolling”, promotion of “fake news”, “conspiracy theories” or otherwise interfering with the dissemination of accurate information in this dedicated “Crisis Forum” will result in deletion of posts, and repeat offenders will have their accounts banned.
User avatar
nwdiver
Rank: Chile Forum Citizen
Posts: 3038
Joined: Tue Mar 17, 2009 8:45 pm
Location: Vancouver, BC and Chile where ever it's Summer
Contact:

Re: The Economic Impact of the Social Crisis

Post by nwdiver » Mon Nov 18, 2019 2:26 pm

There are bright spots in the economy, agricultural exports are sold in USD so profits are up, now if the drought gets worse there goes the entire sector.....
It's all about the wine.

User avatar
41southchile
Rank: Chile Forum Citizen
Posts: 1391
Joined: Mon Jun 12, 2017 2:39 pm
Location: Lakes Region

Re: The Economic Impact of the Social Crisis

Post by 41southchile » Mon Nov 18, 2019 2:49 pm

fraggle092 wrote:
Mon Nov 18, 2019 1:31 pm
The non-protesters, the ones who struggle into work despite the chaos, will be the hardest hit. When they are laid off, the financial leeches, who add 30% interest to credit card purchases, won't cut them any slack on their debts.
More troubles and discontent to come.
What was Piñera thinking of, couldn't he see this coming? He's supposed to be a businessman, after all.
Not much of an honorable business man (I hear there are such things) he got to the top by using insider information and screwing over business partners and anyone really. Of course using political, judicial and financial contacts to his advantage as well. It all makes sense I guess the way he has handled this , but now he has no get out of jail free cards left and those he screwed will looking for their piece out of him, including those in his same class not just the poor.
“Facts do not cease to exist because they are ignored.”

User avatar
41southchile
Rank: Chile Forum Citizen
Posts: 1391
Joined: Mon Jun 12, 2017 2:39 pm
Location: Lakes Region

Re: The Economic Impact of the Social Crisis

Post by 41southchile » Mon Nov 18, 2019 4:10 pm

After a month of this shit now, people are just throwing down all their chips at the poker game, they are all in, or putting all their meat on the bbq as they say here, they are not being reckless but are not letting fear guide them anymore, well the 5 people I have talked to today anyway, so it's not entirely representative just a snapshot of what's happening in this part of the world.
“Facts do not cease to exist because they are ignored.”

User avatar
admin
Site Admin
Posts: 20037
Joined: Sat Aug 26, 2006 11:02 pm
Location: Frutillar, Chile
Contact:

Re: The Economic Impact of the Social Crisis

Post by admin » Mon Nov 18, 2019 6:01 pm

well, just to twist of the knife in the back a bit more, PIB last reading just before the start of this mess came in at 3.3% for the third quarter.

https://www.df.cl/noticias/economia-y-p ... 85338.html
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

User avatar
fraggle092
Rank: Chile Forum Citizen
Posts: 1897
Joined: Fri Mar 28, 2008 6:35 pm
Location: In Chile

Re: The Economic Impact of the Social Crisis

Post by fraggle092 » Mon Nov 18, 2019 6:10 pm

admin wrote:
Mon Nov 18, 2019 6:01 pm
well, just to twist of the knife in the back a bit more, PIB last reading just before the start of this mess came in at 3.3% for the third quarter.
The light at the end of the tunnel was a train coming the other way.
Bienvenidos a Chaqueteo City.

Après moi, le déluge

User avatar
admin
Site Admin
Posts: 20037
Joined: Sat Aug 26, 2006 11:02 pm
Location: Frutillar, Chile
Contact:

Re: The Economic Impact of the Social Crisis

Post by admin » Mon Nov 18, 2019 9:05 pm

fraggle092 wrote:
Mon Nov 18, 2019 6:10 pm
admin wrote:
Mon Nov 18, 2019 6:01 pm
well, just to twist of the knife in the back a bit more, PIB last reading just before the start of this mess came in at 3.3% for the third quarter.
The light at the end of the tunnel was a train coming the other way.
well, guess if the economy is going to crash, best to have some padding under it. a 1% growth rate would have put us squarely in to recession territory, with nothing for the dead cat to bounce off of. :lol:
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

User avatar
41southchile
Rank: Chile Forum Citizen
Posts: 1391
Joined: Mon Jun 12, 2017 2:39 pm
Location: Lakes Region

Re: The Economic Impact of the Social Crisis

Post by 41southchile » Mon Nov 18, 2019 9:18 pm

admin wrote:
Mon Nov 18, 2019 9:05 pm
fraggle092 wrote:
Mon Nov 18, 2019 6:10 pm
admin wrote:
Mon Nov 18, 2019 6:01 pm
well, just to twist of the knife in the back a bit more, PIB last reading just before the start of this mess came in at 3.3% for the third quarter.
The light at the end of the tunnel was a train coming the other way.
well, guess if the economy is going to crash, best to have some padding under it. a 1% growth rate would have put us squarely in to recession territory, with nothing for the dead cat to bounce off of. :lol:
As growth will be in negative territory for 4th quarter, in best case scenario annual growth for 2019 will be between 1.5 and 2 percent, apparantly according to a guy on the radio. How negative and big a fall will be anyones guess, then of course that will extend into first quarter 2020 putting Chile into recession in April with two consecutive negative quarters , after that is anyones guess.
“Facts do not cease to exist because they are ignored.”

User avatar
41southchile
Rank: Chile Forum Citizen
Posts: 1391
Joined: Mon Jun 12, 2017 2:39 pm
Location: Lakes Region

Re: The Economic Impact of the Social Crisis

Post by 41southchile » Wed Nov 20, 2019 9:47 am

Bloomberg interview and Overview.
Basically if you trust politicians and trust the Chilean people to do the right thing for their country as a whole and leave their egos behind , then, the next few months could see some good buying opportunities.
Or just go to the Casino and throw everything down on Black at Rouellete, you probably got about the same odds as you have timing the market right in this situation we are currently living through.


https://www.bloomberg.com/news/articles ... ces-a-bust
“Facts do not cease to exist because they are ignored.”

User avatar
admin
Site Admin
Posts: 20037
Joined: Sat Aug 26, 2006 11:02 pm
Location: Frutillar, Chile
Contact:

Re: The Economic Impact of the Social Crisis

Post by admin » Wed Nov 20, 2019 10:03 am

well, valpo buisness are banding together to sue the government over the security situation.

https://www.emol.com/noticias/Economia/ ... stado.html
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

User avatar
admin
Site Admin
Posts: 20037
Joined: Sat Aug 26, 2006 11:02 pm
Location: Frutillar, Chile
Contact:

Re: The Economic Impact of the Social Crisis

Post by admin » Wed Nov 20, 2019 10:07 am

41southchile wrote:
Wed Nov 20, 2019 9:47 am
Bloomberg interview and Overview.
Basically if you trust politicians and trust the Chilean people to do the right thing for their country as a whole and leave their egos behind , then, the next few months could see some good buying opportunities.
Or just go to the Casino and throw everything down on Black at Rouellete, you probably got about the same odds as you have timing the market right in this situation we are currently living through.


https://www.bloomberg.com/news/articles ... ces-a-bust
well, as the old saying goes, invest when there is blood in the street.

If you got the balls or the extra pocket change, this is the time when fortunes are made.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

User avatar
admin
Site Admin
Posts: 20037
Joined: Sat Aug 26, 2006 11:02 pm
Location: Frutillar, Chile
Contact:

Re: The Economic Impact of the Social Crisis

Post by admin » Wed Nov 20, 2019 10:41 am

The one I am going to be watching closely is auctions.

There is a tsunami of foreclosures and repossessions coming over the next year.

especially all those people that had already over reached buying properties and vehicles on credit they could hardly afford before this mess. Now with tighter credit risk conditions, and higher interest rates, that game is up. especially people that did things like buy second and third rental properties in the areas with most social unrest.

which once that ball gets rolling, should implode the property values in those areas too. banks are already jacking up interest rates, downpayment requirements, and other credit conditions in those areas most effected (e.g. central Santiago, etc).
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

Kel
Rank: Chile Forum Citizen
Posts: 133
Joined: Mon Jul 02, 2007 3:34 pm
Location: South of South

Re: The Economic Impact of the Social Crisis

Post by Kel » Wed Nov 20, 2019 5:05 pm

Where can one find these auctions?
Taking aim from the grassy knoll...

Post Reply