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Originally Posted by Mason Malmuth
And today? Isn't Chile the best country in South America in terms of freedom and economic success. Perhaps "the guy" in my avatar had a role in helping to make things much better. Also, why don't you do a search and see exactly what "the guy" in my avatar said about the government in Chile at that time.
MM
well, I guess since chile has a strong middle class today that it was all worth it. certainly worth the cia and american business working to destroy the economy to install a regime (against the "will of the people" no less) that disappeared, tortured, and deported hundreds of thousands of ppl.
and yet it was still necessary to make "socialist" reforms bc the free market institutions failed so badly so quickly.
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In 1982–1983 Chile witnessed a severe economic crises with a surge in unemployment and a meltdown of the financial sector.[53] 16 out of 50 financial institutions faced bankruptcy.[54] In 1982 the two biggest banks were nationalized to prevent an even worse credit crunch. In 1983 another five banks were nationalized and two banks had to be put under government supervision.[55] The central bank took over foreign debts.