Just thought this was interesting. The earthquake in Chile, and the aftershocks - were stronger and caused more damage than the Haiti quake did.
But Chile is in much better financial condition and can take care of itself for the most part. Here is a link to the story.
Different forms of government work in different places. They are fairly socialistic. It is good to know that there are countries in good financial condition.
The government projections reflect the unflinching confidence among the team of business elite that the billionaire entrepreneur brought with him to the presidential palace. Pinera is Chile's first right-wing president since the dictatorship of Gen. Augusto Pinochet ended in 1990.
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I don't think we see Socialism in the same mannor! They had set aside money from the good years as a hedge against adversity! (Copper mining.)
Thats not the same as borrowing your way to prosperity then in the process seeking to take control of all the assets!
I am sorry but I don't think HNB has a choice in their direction! The article in the Traveler stated that its was a new direction for their Bank!
ReplyDeleteThe fact that the board was ask to resign and the number of write offs and nonproductive and troubled loans?
The facts simply state otherwise!
Socialism, like Capitalism, has many faces. And they're not all evil.
ReplyDeleteSocialism, like Capitalism, has many faces. And they're not all evil.
ReplyDeleteYou know you might be right!
Except when you look at Capitalism it uses Creative Destruction as a tool to motivate!
While most people see that as "evil". It actually motivates through competition. It also creates new opportunities where things tend to grow out of control or get too big to manage, become too inefficient, cost too much, or simply get replaced by new or innovative ideas!
If you look at Nature or even our Environment! You see a similar trend - one to compete to survive and a constant renewal process!
Its only when we try to keep things the same, treat or make everyone the same that the real virtues of Capatalism are lost!
In the Chile article they were predicting a future growth rate of at least 6% while rebuilding their Country!
Capatilism and Democracy work!
Because out of despair they create HOPE!