Debt and credit problem in Chile

 Post 3

                                Themed Free Post

Hi everyone!

For today post i wanto to write something about one topic, that i want to investigate in my thesis proyect. I talk about debt problem.

                                            Debt and credit problem in Chile

Talk about the debt problem in Chile, its talk about the elephant in the room. If we go back to the news papers of recently weeks, we can see that this problem, its certanly, near to exploit. 

In January, CNN post a new titled: "Endeudamiento de los hogares chilenos marca nueva cifra record", that refers, that the debt level of the population grew at one point that records historic numbers. In the same way El Mostrador qualified this notice in they cover page like aa a suffocating situation, and it is.

The percentage of debt in population its about 75% , this means that 75% of the people in Chile are in a debt situation, and this numbers just increase every year, and if u not believe me, i think u should search the same news from CNN, but in 2019 ("Informe del banco central: Endeudamiento de los hogares chilenos alcanza máximo histórico"). 

The most of this debts, refers to mortgage and banking credits, added to the above, the last 10 years increase the problem of students debts.

This problem, can be studied from differents ways and choosing differents variables, for this case we gonna analyze a few conscuences of the debt situation, from two big perspectives.

In first place, when we being in a debt situation, we have to pay money, and certainly, the most general way to get money, its from work, if u are in a debt situation, you compromise money that u dont have in this moment, but u gonna have in the future. This relationship basically result that when we are in debt situation, we mortgage our work, in other words, debt may looks like a future work. Maybe u think that this is only philosophical things, is not, because, when u analyze the second perspective, the job market in our country, the statistics of safety work, salary, unemployment among others variables that configure a very problematic stage to get into debt. But, at the same way, the grow of the numbers around debt, its because the material situation of the population in Chile.

 

In a country with a extreme concentration of private enterprises in first need services, like healthcare, education, and pension, the debt a lot of times appears like the only way to get access, so many times, a basic rights, and sometimes, the chance of save ur life. We can talk a lot too, of how much debt can help to families to give them a feeling of purchasing power, that at the end of the month, turns on a big headache. Debt in Chile has collaboreted a lot to make up the social reality of our country. Its very common to hear that people are angry with poor people because they get in debt too for buyings Smart Tv´s, or a new phone, omitting the fact that capitalism create unnecesary needs, and our economic sistem help a lot too, when a Smart Tv has the same value that extract a tooth, or a 1/3 of a month of a college career.

  

A reportage of Ciper, with teacher Lorena Perez in charge, unvail that chilean homes, owe an average of 7 out of 10 pesos they receive, and that have consecuences in the way that we live our daily, debt has changed the resosn why we study (and if we study!), why we work, and it has weakened worker unions and family life. And in words of the teacher. It becomes so incorporated in daily life that many consider their credit line as apart of their income. 

Certainly, the debt is a big problem, that no longer fits in the room, and its really necessary a state intervention, but that intervention have to have a multidimensional approach, to consider, financial education, increase the salary, offer more state credits in opposed to the banks, and change our conception of public institutions and public services, so we don´t gonna have to go into debt aymore to live, or study.

I think that, from the area of social sciences, we have tod dedicate more time to study the debt problem, and start to think in solutions for a very big problem that already exploded.

I hoper u re good and safety in your home.

a Big Hugh!

References

1.- https://www.cnnchile.com/economia/endeudamiento-de-los-hogares-chilenos-marca-nueva-cifra-record-llego-al-75_20200107/

2.- https://www.cnnchile.com/economia/informe-del-banco-central-endeudamiento-de-los-hogares-chilenos-alcanza-maximo-historico_20190418/

2.- https://ciperchile.cl/2020/04/26/por-que-estamos-mas-endeudados-que-nunca-en-nuestra-historia/

4.- https://www.elmostrador.cl/dia/2020/01/07/asfixiante-endeudamiento-de-los-hogares-en-chile-marca-nuevo-record/