[ April 18, 2026 ]
Devastating. For decades Chile was a favorite among Wall Street investors. However, with the election of Marxist Gabriel Boric as president, investors are pulling out in droves. Leaving behind a $50 billion hole. The people of Chile are going to pay an enormous price for electing Boric. Someone should ask Bernie Sanders, Elizabeth Warren, the Squad, et al to defend Boric’s policies, since they want to implement his ruinous policies in America.
Rich Investors Pull Out of Chile, Leaving Behind a $50 Billion Hole
Chile, Latin America’s stand-out economy for the better part of 50 years and a darling of Wall Street, is in many ways facing an existential moment.
ADVERTISEMENT(Bloomberg) — Chile, Latin America’s stand-out economy for the better part of 50 years and a darling of Wall Street, is in many ways facing an existential moment.Its Milton Friedman-inspired constitution is still intact, for now. But virtually everywhere you look, once sacrosanct pillars of the country’s free-market system — from its private pensions and health care to how much it taxes big business — are under attack following the election of its most leftist leader in decades.
This has had a chilling effect on the moneyed class here.
From the third floor of an expansive glass building in Santiago’s leafy El Golf neighborhood, Juan Ignacio Correa, a partner at multi-family office Avante, recalled how many of his clients used to keep as much as 70% of their wealth in local assets and only 30% abroad, a level unheard of elsewhere in the region and a sign of trust in the country’s economic model. “Today it’s exactly the opposite,” Correa said. “There is a fear of what is happening here.”
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