Chile Wealth, Inequality, and International rankings

[at46]

here is one of those fun budgets showing costs of living in the united states, that totally blows holes in the u.s. goverment definition of "middle" class and "poverty".

https://www.marketwatch.com/story/this- ... al-finance

but the more relevant point to this thread, is with a little bit of work, you could do a pretty quick comparison with chile by filling in the blanks of typical prices and quality of living/ equivalent products of services to get some real grasp on the purchasing parity, mas o menos, of what would qualify as "middle" class between the two countries.

That table is bullsh!t. $400 every month on new clothes at Old Navy? Budgeting for the cost of a new playpen for the baby every month? I can’t even begin to take the writer seriously if he thinks $350k/yr makes it hard to make ends meet.

Usual clickbate from MarketWatch.

[admin]

here is an interesting take on breaking down wealth in to a logarithmic scale, in part based on the global wealth index:

https://www.bloomberg.com/news/articles ... at-s-yours

A while back I seen some articles going around about how the cost of health care / insurance in the U.S. was rapidly approaching $20,000 a year on average, when you start breaking down for co-pay, deductibles, all the other ways they RIP-off the consumer.

a comment in the article pointed out there are three things grossly distorting the wealth vs. income in the u.s. numbers, compared to most other developed countries:

A) health care cost
B) education cost
C) pension / retirement

when you take the 65,000 and change, medium household income, subtract those three things, Americans, today, are not that rich. definitely not the way they were say 40 or 50 years ago.

[41southchile]

here is an interesting take on breaking down wealth in to a logarithmic scale, in part based on the global wealth index:

https://www.bloomberg.com/news/articles ... at-s-yours

A while back I seen some articles going around about how the cost of health care / insurance in the U.S. was rapidly approaching $20,000 a year on average, when you start breaking down for co-pay, deductibles, all the other ways they RIP-off the consumer.

a comment in the article pointed out there are three things grossly distorting the wealth vs. income in the u.s. numbers, compared to most other developed countries:

A) health care cost
B) education cost
C) pension / retirement

when you take the 65,000 and change, medium household income, subtract those three things, Americans, today, are not that rich. definitely not the way they were say 40 or 50 years ago.

Isn't that the same in any neoliberal market? As a proportion those things are high in Chile too. Probably D should be rental housing costs.

[admin]

amazing how these days you can stick "neo" in front of pretty much any word, and it basically negates its meaning. like saying "not liberal", or "not conservative" , "not nazi". It functions to make the word rather meaningless, too vague to be of use, or at least hard to attack via argument because the target is too broad.

[admin]

so, some more about where the price of copper needs to go, to have a chance at the "carbon" targets:

https://amp.ft.com/content/b71d2cde-da1 ... 1f8d77a45b

$8,000 a ton to hit the 2030 targets.

$20,000 a ton to hit the "Greta" target, of zero emissions by 2025.

interesting point at the end. If humans dont hit those targets, and instead just try to adapt, that requires a whole lot more copper too. the example they use is Europeans buying air conditioners.

[admin]

oh, for those that do not follow copper, we are under 6,000 a ton, 2.52 per pound i think.

[admin]

My biggest argument for copper is development. It is not an accident that human civilization is directly related to the amount of copper produced.

pull up a couple maps of the earth on google. population growth maps, and sat maps of the earth at night. that is who still needs copper (india, africa, etc); before even getting to the whole problem of needing rewire the entire developed world legacy grids for a green energy global economy.

[admin]

all while junior miners are being taken out of the game. when the price comes back, it will come back with a vengeance.

https://www.mining.com/copper-price-low ... al-miners/

[admin]

well, I suppose if you are willing to do some longer term speculation, it seems that chile is making moves to join the real time FX system.

https://mobile.reuters.com/article/amp/idUSL5N26256D

I think it will make the peso more volatile, but also more liquid and probably a stronger currency relative to other currencies.

[admin]

direct foreign investment hits highest in 5 years.

https://www.df.cl/noticias/economia-y-p ... 15251.html

[admin]

Thank Chump!!!

https://www.bloomberg.com/opinion/artic ... the-u-s?sr

I have this vision of obese Trumpets dropping dead of starvation in a Walmart parking lot by thousands, like a bad dawn of dead remake.

[mem]

so, some more about where the price of copper needs to go, to have a chance at the "carbon" targets:

https://amp.ft.com/content/b71d2cde-da1 ... 1f8d77a45b

$8,000 a ton to hit the 2030 targets.

$20,000 a ton to hit the "Greta" target, of zero emissions by 2025.

interesting point at the end. If humans dont hit those targets, and instead just try to adapt, that requires a whole lot more copper too. the example they use is Europeans buying air conditioners.

If it gets even close to 20k the old 50 peso coins will be worth more than twice its face value in copper...right now its face value is 0.07 usd and its melt value is 0.035 usd.
Of course the usd/clp dynamic will change on it's own with copper skyrocketing