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December 10, 2009
Chile’s privatized social security may risk bankruptcy

Chile’s social security faces the prospect of major shortfalls – even bankruptcy – in the coming years. The country has gone further than any other country in privatizing social security, embracing private pension accounts in 1981. But the fund will soon be paying out more than it takes in, and is projected to be exhausted by 2036.

Worldfocus special correspondent Edie Magnus and field producer Ara Ayer report from Chile on the health of private social security and new regulation from the Chilean government.

For more Worldfocus coverage of the Chilean Economy, click here.




My heart goes out to Chile. Top heavy capitalism is not thinking of the good and well being of all. As we discover the failings of our systems and develope more compassion, I am sure we will work control the exploitations of our age. (Back in my time we just had to worry about cave bears -you guys gave bulls and bears).


Remember the shortcomings of the “Chicago Boys” when it comes to uncontrolled capitalism. Remember Bush wanted to invest our social security in the Stock Market! I will admit we have a long way to go to discover and calibrate true progressive socialism. It is not easy to Globalize Humanity and Localize the Economy. Never the less, our survival depends upon it.

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