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Binyamin Appelbaum
@BCAppelbaum 6 years, 9 months ago 1556 views

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Chile is the poster child for extreme economic inequality in a developed country. I spent time there last year for my book (which has a chapter on Chile) and what I found hardest to understand is why there wasn't more political unrest. Now there

A few choice facts about Chile and inequality:

In Chile, the social security system is basically designed to redistribute wealth from the masses to the rich, because workers are required to put their savings into private investment funds that charge ridiculous fees.

The commitment to private industry runs deep. If the available water is sufficient either for drinking or growing avocados... well, you get the idea.

The result in Chile is two worlds, side by side.

And what is most remarkable is that, for the longest time, even the ostensibly left-wing parties were on board. Chile's socialists basically don't like socialism.

But it's been clear for a while that a younger generation in Chile wasn't willing to accept the status quo.

You can read more about Chile in my book, The Economists' Hour, which is the source of these excerpts. https://t.co/mnqodTTJqe

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@atsumori5834 An Argentinian variant of Italian fascism with stuff from German National Socialism that took an unexpected turn and led to a globalist and progressive ideology. Menemism was a conservative variant but not faithful to the doctrine and from that new generation arose Kirchnerism.

The Kirchnerists are antifascists and "supercapitalists", which is a term used by Juan Perón to refer to a deformed, monstrous style of government, the result of the fusion between Marxism and Capitalism (Globalism).

The Kirchneristas dubbed themselves Peronism and little by little they are making the orthodox Peronists treated like outdated garbage and surely soon persecuted as if they were authentic NationalSocialists. A tragedy.

Peronism is full of progressives, globalists, left liberals, feminists, zionists...
Left: Juan Perón, creator of the Peronism movement.
Right: Alberto Fernandez, actual leader of the Peronist movement. Pathetic.

In addition, the Kirchnerists give our sovereignty to the Chinese, and they do not recognize the value of our Japanese brothers. But Perón admired the Japanese a lot. Carlos Menem also maintained excellent relations with Japan

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On this day in 2007, the bomb blasts in Samjhauta Express killed 68 people including 44 Pakistanis. The immediate investigations revealed irrefutable evidence about the masterminds. In this thread, I would share some Indian newspaper clips which covered the investigations.

1. Lt Col Prasad Purohit, a serving Indian army officer, was arrested for terror conspiracy in the Malegaon blast case. He was the co founder of Abhinav Bharat, a right wing Hindu organisation. He admitted that he was the mastermind.

(The Times of India, Pune, 7 November 2008)

2. Lt Col Purohit met Pragya Thakur on 5 Oct 2008 to tell her that "Our People" had carried out the killings in Orissa, burnt down two churches and also carried out the Malegaon blast.

(The Indian Express, Pune, 24 Nov 2008)

Ironically, Pragya is BJP's MP today.

3. During his narco analysis test, Lt Col Purohit told officers that Praveen Togadia was responsible for the “Samjhauta Express Blasts”. He asked me to find out from Dr Dev, how much RDX was remaining after the blast.

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4. In his narco analysis test, Lt Col Purohit gave sensational information that he supplied explosives for Ajmer and Malegaon blasts at the instance of Mahant Dayanand Pandey.

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Why should we be careful when talking about a “jobs bounce-back” in South Africa? - A THREAD.

You don’t get better labour market economists in South Africa than the @NIDS_CRAM team, but the main finding of an “employment bounce-back” seems counterintuitive. What’s going on? 1/n

NIDS-CRAM does NOT show a rebound to pre-COVID employment levels. They report 700,000 job lost between Feb and Oct 2020, this is massive = 3.85% fall (broad definition). The authors of the employment paper say this could be as high as 5.3% or 960,000 jobs.

The authors @joshbudlender @ihsaanbassier (+ Rocco) also show that Oct employment is normally higher than Feb employment, super roughly Oct is plausibly around 102% of Feb. This means it’s plausible 360,000 jobs would have been gained between Feb-Oct *anyway*.

This would mean - within the study parameters - it’s possible COVID has caused up to (an outer outer limit) of 1.32 million job losses when comparing Oct 2020 with what we would have expected it to be in normal times. This is a total disaster in the context of the SA economy.

This is roughly what we should expect from the StatsSA QLFS. This showed 2.2 million jobs lost in first half of 2020, and 543,000 regained in Q3, meaning a loss of just under 1.7 million jobs in first 9 months. We’d definitely expect some more jobs regained in Oct-Dec.

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A lot has been written about what Mario Draghi's arrival in Italy means for Italy. But little has been said about what he could mean for Europe. I think Draghi could be a game changer for EU; he could even turn its toxic North-South dynamic on its head. Thread 1/

Why? The @EU_Commission is currently reviewing (quietly) member states reform plans. These are basis upon which EU capitals hope to begin receiving their allocation, in transfers & loans, from the €750 billion Recovery Fund, starting later this year 2/

Remember the numbers are unprecedented. Italy is eligible for ~€188bn (roughly €65.5bn in grants; €123bn in loans). Spain a €144bn, roughly €59bn in grants & €85bn in loans etc etc. The amounts for all member states are unprecedented 3/

Yet despite this, & fact Fr & Ger pushed hard for this deal, officials in Bxl are scathing about proposals advanced by.. Paris & Berlin. I oversimplify: but basically, Macron is distracted by Covid; Merkel, elections in Sept. Sweeping reforms are the last thing on their minds 4/

This puts Commission in its usual bind. If Bxl doesn’t raise the reform bar with Chancellery & @Elysee, it will have no credibility to push southern Europe to do same. But it also can’t impose reforms on countries that aren’t willing to do them, especially not the big 2 5/

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