The Fall of Chile
Published by markskidmore
Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times. View more posts
Hello. I’m catching up this holiday weekend. I had saved this article, because I sensed it was important. And I wanted to be able to give it the time and thought I was pretty sure it deserved. Wow. It is beyond important; it is vitally important. What has happened in Chile is a harbinger of what has already started to happen in and will ultimately destroy all “western” nations. Just look at Australia, New Zealand and the UK today, as three examples among many more; they are just English-speaking, hyper-authoritarian duplicates of Chile. We should ask not for whom the Chilean bell tolls; it tolls for us. Thanks for sharing this article with us, Mark. P.S. Chile is a textbook example of why people need to be *extremely* careful when choosing their “gurus.” Particularly when the gurus are neophytes and ego maniacs who present themselves as having everything all figured out. Both Berwick (GGC) and Simon Black (Sovereign Man) were breathless and hyper-ventilatory in promoting Chile in the early 2010s. They said that it was paradise, the “future,” THE Go-to place in the world. It was so obvious at the time to more astute observers that they were wrong, but many drank the Kool Aid. GGC totally imploded, wiping out all of its investors while handing-over lots of stolen money to the slick promoters. (Berwick lost, too; his “partners” were complete criminals and he was their naive mouthpiece.) As to Black, who presents himself as some kind of geopolitical genius and master investor, he never foresaw or warned about any part of what has happened to Chile. So much for the self-proclaimed geniuses in our midst. The answer is to do your own research and keep your own counsel. Avoid promoters and so-called experts at all cost.
Thanks for the post SD. It is a real challenge to know what is happening…so many layers.