The Chile Economy, Social Crisis and Virus Impact

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.
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41southchile
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Re: The Chile Economy, Social Crisis and Virus Impact

Post by 41southchile » Mon Nov 16, 2020 9:48 am

admin wrote:
Mon Nov 16, 2020 8:10 am
well at least communist big mouth Daniel Jadue is being kept in check at 7%.

I had a friend a few months ago, that could best be described as formally very pro-communist, say, "that idiot Jadue gets elected president, and I am leaving the country". :lol:
Its early days yet, wait till he comes out with some magic fairytales on how he will make everyone equal, give everyone free quality education and a new house and a pension. And how he will help fix everyones problems by the government paying for it all and making "those that can " , pay "their fair share"
“Facts do not cease to exist because they are ignored.”

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tiagoabner
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Re: The Chile Economy, Social Crisis and Virus Impact

Post by tiagoabner » Thu Nov 19, 2020 11:45 am

A new AFP withdrawal project was approved by Congress and it was approved recently by a commission in Senate. It's bound to be voted by the Senate soon. That led the government to propose their own version of the 10% withdrawal:

https://www.cnnchile.com/economia/proye ... _20201119/

The government's project would limit the withdrawal to those that have earned 100 UF or less in the previous month (roughly $2.900.000, or USD $3,800), funds from APV/ "voluntary retirement savings accounts" would need to be withdrawn before messing with AFP money and one would need to repay the withdrawal. So the government's project is actually more akin to borrowing from your AFP as opposed to withdrawing the funds outright.
I'm NOT your lawyer, accountant or financial planner. All information at this post should be considered for your entertainment only. Consult a professional before making a decision regarding whatever topic was mentioned in this post.

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41southchile
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Re: The Chile Economy, Social Crisis and Virus Impact

Post by 41southchile » Thu Nov 19, 2020 12:57 pm

tiagoabner wrote:
Thu Nov 19, 2020 11:45 am
A new AFP withdrawal project was approved by Congress and it was approved recently by a commission in Senate. It's bound to be voted by the Senate soon. That led the government to propose their own version of the 10% withdrawal:

https://www.cnnchile.com/economia/proye ... _20201119/

The government's project would limit the withdrawal to those that have earned 100 UF or less in the previous month (roughly $2.900.000, or USD $3,800), funds from APV/ "voluntary retirement savings accounts" would need to be withdrawn before messing with AFP money and one would need to repay the withdrawal. So the government's project is actually more akin to borrowing from your AFP as opposed to withdrawing the funds outright.
Far too sensible, my bet is the proposal will be rejected by the left, who really have no interest in helping those that need help, rather the destruction of the private AFP system and eventual state control of the pensions .
“Facts do not cease to exist because they are ignored.”

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41southchile
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Re: The Chile Economy, Social Crisis and Virus Impact

Post by 41southchile » Sat Nov 21, 2020 12:25 pm

Interesting historical article about Latin America and classical Economics for those interested in that sort of stuff.

http://bostonreview.net/class-inequalit ... -economics
“Facts do not cease to exist because they are ignored.”

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Re: The Chile Economy, Social Crisis and Virus Impact

Post by admin » Mon Nov 23, 2020 10:15 am

Screenshot_20201123-101255_Brave.jpg
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Re: The Chile Economy, Social Crisis and Virus Impact

Post by admin » Mon Nov 23, 2020 10:17 am

large numbers of people are flowing from cities to rural areas. sort of reverse migration, not just because of the pandemic but the social crisis / political crisis in the urban areas of Chile.
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41southchile
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Re: The Chile Economy, Social Crisis and Virus Impact

Post by 41southchile » Mon Nov 23, 2020 11:21 am

admin wrote:
Mon Nov 23, 2020 10:17 am
large numbers of people are flowing from cities to rural areas. sort of reverse migration, not just because of the pandemic but the social crisis / political crisis in the urban areas of Chile.
Yeah, its a worldwide trend too, people leaving cities, but yeah the social crisis has also had a big impact here.
They reckon there are 5000 extra people that have relocated to Puerto Varas over the last year, about a 15 percent increase of the population.
The trend has accelerated as people realise they can work remotely. The cities will always survive but will become less attractive for the near future at least.
“Facts do not cease to exist because they are ignored.”

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Re: The Chile Economy, Social Crisis and Virus Impact

Post by admin » Mon Nov 23, 2020 1:21 pm

chile is running over 4,000 km of under sea fiber optic in to the Patagonia, in addition to the land connections, plus thr cable to Australia / new zealand / japan is being worked on.

we finally got fiber on our post in front of our house. i still need to install the conduit on my property before they install. there has been a big push to wire rural areas due to the digital divide has become extra obvious for kids accessing schooling remotely.

many of chiles problems are urban in natute, and depopulating the cities a bit would go a long way to taking the pressure off urban infrastructure.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
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Re: The Chile Economy, Social Crisis and Virus Impact

Post by admin » Wed Nov 25, 2020 8:02 am

so, the chilean stock market is aproaching closing out its best month in 27 years, copper at $3.30 a pound.

https://www.df.cl/noticias/mercados/bol ... 02312.html

Funny, through this whole mess I just told my wife, "let's just not look at our Chilean stock portfolio".

The number one thing that gets people in trouble with investing, is panic selling. It has been studyied upside down and backwards for 100+ years. It took me a while, and involved playing various Jedi mind tricks on myself, but I mostly have manged to stop myself from panic selling in to a crisis. I might rebalance my portfolio a bit to better take advantage of a crisis, but without panic selling. I have simply told myself, 'well you lost 80% on that stock, now I am only risking 20% to see if I can get my money back".
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.

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Re: The Chile Economy, Social Crisis and Virus Impact

Post by admin » Wed Nov 25, 2020 8:25 am

somewhere I said when this all began, we get to put Chile to the test to see if the theory that countries with lots of free trade agreements being able to withstand and recover faster from a crisis really works. I think we are seeing that now.

Chile has over 180 free trade agreements, and more in the pipe. If Chile can be early to the vaccine party too, It should outrun the rest of latin america in terms of economic growth and recovery over the next few years.
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.

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41southchile
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Re: The Chile Economy, Social Crisis and Virus Impact

Post by 41southchile » Wed Nov 25, 2020 8:37 am

admin wrote:
Wed Nov 25, 2020 8:02 am
so, the chilean stock market is aproaching closing out its best month in 27 years, copper at $3.30 a pound.

https://www.df.cl/noticias/mercados/bol ... 02312.html

Funny, through this whole mess I just told my wife, "let's just not look at our Chilean stock portfolio".

The number one thing that gets people in trouble with investing, is panic selling. It has been studyied upside down and backwards for 100+ years. It took me a while, and involved playing various Jedi mind tricks on myself, but I mostly have manged to stop myself from panic selling in to a crisis. I might rebalance my portfolio a bit to better take advantage of a crisis, but without panic selling. I have simply told myself, 'well you lost 80% on that stock, now I am only risking 20% to see if I can get my money back".
Lol, learnt that panic selling message in March, the hard way, took me to September to get back to even for the year to date, well as they say its only a mistake if you don't learn from it. Won't be doing that again.
“Facts do not cease to exist because they are ignored.”

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41southchile
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Re: The Chile Economy, Social Crisis and Virus Impact

Post by 41southchile » Wed Nov 25, 2020 8:50 am

admin wrote:
Wed Nov 25, 2020 8:25 am
somewhere I said when this all began, we get to put Chile to the test to see if the theory that countries with lots of free trade agreements being able to withstand and recover faster from a crisis really works. I think we are seeing that now.

Chile has over 180 free trade agreements, and more in the pipe. If Chile can be early to the vaccine party too, It should outrun the rest of latin america in terms of economic growth and recovery over the next few years.
I tried to ask someone in NZ about that , no one replied, in NZ they often like to claim they are good at getting free trade agreements, however compared to Chile they are not. Kiwifruit, fish etc still attract tarrifs from NZ into Europe, they don't from Chile, NZ is one of the last amongst its competitors to get a free trade deal with the EU.
Truth is though a lot of countries , such as Canada and U.S etc feel threatened by New Zealands efficient production, especially with dairy products, so that may be part of it.
However, you are right, Chile has an impressive number of FTAs. Perhaps its the good negotiation skills of the decendents of the students of the Milton Freidman school of economic thought, rather than the fact other countries don't see Chile as a threat to their own industries. One or the other 🤔. Im still gathering information on that.
“Facts do not cease to exist because they are ignored.”

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