About Chile's 'Miracle'

IBD Editorials ^ | March 21, 2011 | Staff

[Kaslin]

Economy: President Obama had nothing but praise for Chile's democracy and economic miracle, declaring it a model "for the region and world." So why is he obstructing the same reforms in the U.S. that gave Chile its success?

Arriving Monday in Santiago on the second leg of his Latin American tour, the president told El Mercurio he picked Chile as one of his three stops because: "The Chilean experience, and more particularly its successful democratic transition and sustained economic growth, is a model for the region and the world. ... It is also a powerful example of how the opportunities of today can and must be seized."

He's right on that. But if he isn't just uttering vague platitudes, why doesn't he make it a model for U.S. economic growth, too?

Chile's reforms not only enabled it to emerge from dictatorship in 1980, but to become the success story much of the world seeks to imitate.

In 30 years, Chile has gone from being a Third World country to a developed one, raising per capita income to $17,000, achieving 6% to 7% GDP growth most years, and attracting billions in foreign investment.

It didn't happen in a vacuum.

[milwguy]

Obama probably just saw a travel brochure about Chile, or maybe has a glass of Malbec. He would not comprehend what free market economics looks like, how privatizing social security in Chile provided massive amount of money to invest in the real economy, not the gov’t economy.

Expecting Obama to have deep thoughts about how an vibrant economy is created is a little tough, because he would rather watch ESPN and fill out brackets than read a little Friedman, Hayek, Von Mises, etc.

[Blood of Tyrants]

Obama looks at a free market economy the way most people look at a three headed goat, i.e. they can’t quite get themselves to to believe that it is real.

[Tainan]

For the last 8 years my preferred red wine has come from Chile.
If you are a Cabernet Sauvignon fan I highly recommend Chilean wines.
Excellent quality at very good (low) prices.

Brief overview @ Chilean Red Wines

[kilt1iron]

I really do not know IF the Resident of the White House has any depth of reasoning -— but he talks sports and the useful idiots just LUVVVVV him.

Don’t cha know?

[r-q-tek86]

For DGH

[HiTech RedNeck]

It ain’t the USA, so Bummer has no reason to hate Chile.

[katana]

Actually, Chile's "miracle" happened because a general named Pinochet overthrew and killed a president who was just as incompetent and of the same political persuasion as you, sir, and systematically eliminated the core of the former president's political supporters. Then followed a flowering of Capitalism, development, and eventually a stable republican form of government. All unheard of before in any Latin American country.

Careful what you praise, Mr. President.

[dfwgator]

[lentulusgracchus]

[Art.] President Obama had nothing but praise for Chile's democracy and economic miracle.....

Bosh.

Obama went down there to high-five and back-slap the Leftists who put Gen. Pinochet on trial for his life, because Pinochet was a successful anti-Communist coup leader who saved Chile from becoming what Venezuela is becoming now: a hard-core Stalinist "people's republic" and second-world rathole.

Brazil, same deal: New Communist president.

Obama parties with Communists and other slime and slugs middle-class moderates and small-"d" democrats.

[SeekAndFind]

Obama praises Chile’s policies... the same ones he won’t permit and is trying to obstruct here in the USA.