Good afternoon community, in the following post I will explain what happened in Chile with the pandemic, AFP withdrawals, prices of cars, houses and copper prices.
It was the year 2020 and the pandemic was happening in my country Chile.
Chile is an underdeveloped country with a level of indebtedness around 30 35 % of the GDP of the country but with some economic failures that lead it in my opinion a little to characteristics of country North Korea or the United States in the economic.
As a result of the fall of the world stock markets, IPSA which is the Dow Jones but Chilean, ideas began to be proposed to recover the country's economy, the right-wing groups proposed to take funds out of the AFP system which is the distributor of wealth for when you are more adult, they succeeded.
It happened that the people in Chile managed to get their 10% of their AFP which every month they deduct a percentage of more than 10% of your gross salary, everyone has a large amount of savings, it was approved, the whole country managed to acquire liquid millions in their bank accounts, quickly automotive malls supermarkets collapsed. Car prices went up 40%, it was a month that too many houses were sold, everything was fine, but after people exhausted the 10% of their AFP they proposed again to take more money out of the savings system, what some politicians opposed became a reality, the government refused flatly the first weeks, months but as you can not fight against millions of people who were happy to buy things and increase their standard of living they had to give their arm to twist.
Currently the pension system there are people who have no guarantees for the future as they have taken out all their saved funds and these have gone directly to private capital giving opportunities to the country in the future but taking away the ability of the population to save and earn interest with their work.
Currently the population wants more money and politicians involved with private capital are choosing to take out the coffers of unemployment insurance which is also a discount that is made month to month in the liquidation of each worker, it is impressive as millions of people are emptying the coffers of the country and leaving many problems in the future, as they will finance the pensions of our parents the security of having insurance when you are fired or opt for better maneuvers for saved capital.
It shows that the human being does not control himself when he has economic stimuli, that he can destroy everything at his mercy if he has incentives and attributes them for free but with much higher costs.
for free but with much higher costs in the future.
