i had a really interesting story today from reuters about uh... what's been
happening at in latin america
all my god
over last ella decades things have gotten much
now but when i was so there's all these leftist leaders like u_-boats advanced
backlash
their socialist policies were going to work
except
they totally worked in the last decade
uh... latin america has added fifty million people
to the middle class
now a cut the countries that work
split
will into very few rich
and tremendous poverty
have gotten to the point
overall latin america
were thirty percent of the population
is middle class
that is a terrific number
this not just some left this means that is the world bank
the world bank reports this quote
what america's number only region in the world with narrowing
income inequality
and thank you go even up a little broader between nineteen ninety five in
twenty ten
forty percent of the region's population move to up
higher economic class
but we're not i'd thought to be socials like job as an more alice in bolivia and
and all these other folks a into brazil they've got a leftist risk doesn't come
on as i know work is a but turns out it didn't work
that's not the only thing look of course is a variety of factors and you know
brazil has some natural resources they were a cable to exploit well and then
that as well as oil but not all those countries have natural resources
they have natural resources before
but what happened
the very few work keeping all the money for themselves
any sought tremendous poverty
and has this report explains one of the things that help was
having leaders who said hey you know what
maybe the whole country should benefit from those resources and not just the
very rich
what happen it'll socialism than work
now potluck we we have our latin america responded
delete kore
uh... who's reporting to us and live tonight from bolivia
uh... david
uh... glasser publicly questions here first of all
am i right in assessing that they were and member of others up parts that
you're right
that remembered is part of this was a sixteen-hour oblivion right
today
bolivia bus heavy today uh... leftist leaders in latin america sure untrue
parts that were true if you want to talk about leftist leaders latin american the
past
decade or so recited people morales
who's the ruler of relatively small country in latin america economics wise
you had rafael correa in ecuador
after argentina had its big crisis net like five presidents and three days the
guy who stabilizer was nestor kirchner who ruled economically toward the left
funny enough
his economic advisor
roberto lavanya gets a lot of credit for setting argentina on the right course
owen
kirchners economic advisor ran for president against kirchners wife
the argentine people voted for kercher's wife instead and she's come screwing
things up then
uh... lua and his successor tillman brazil are the big drivers this who got
shot is of course you mentioned in chile they had left the center michelle dash
away
and uh... maker or what amount that's some small countries
are also leftist president sammy nicaragua's ridicule sets ortega ilac
everyday that i wake up
ortigas president ronald reagan's dead
no
that so i thought that you know if you're going to have a good fair at that
fat
company as well as the latter
or data project
subtyping on this report is no question that it's good news but let's
you not to see at first you mentioned commodities
you're right commodities have always been that exist in latin america in fact
it like thomas friedman and many others blame commodity dependent e economies
lee
they put the blame
four in in inequality are on the commodities dependency
so it shows that the thomas friedman archaeology as usual doesn't always work
out re what there are there's been a boom in commodities prices the past ten
years ago ongoing and it still continuing so that's helped a lot so
sure there's always been commodities but now they're actually expensive and
they're bringing in revenue
also was worldbank study i look through it a little bit you know focuses almost
entirely on brazil
if you look at your stats
fifty million people might america come out up to the middle class thirty
million of those armed reserve
yeah well you know brazil's of course
well the largest countries in the world
but that's a fair point and resolves the new clearly welcome on the side
understand that it's
and nuance think but certainly davey
even if you give the right wing the best-case scenario hey it was all the
commodities as center even though all the commodities and all that time
always went to the very rich in all these asserts
they told us that if you have leftist leaders law that said you destroy the
economy
and nobody's going away
right economy doesn't seem destroyed does it
they were wrong about that lets
make sure the lessons properly articulated here it's not the biz
leftist came and
like lenin and just three distributed all incoming destroyed their country's
what these leftist leaders proved is that you can
grow the economy the leftist leaders can grow the economies of their country's
and at the same time
improve the incumbent equality situation by slightly distributions while the
country's growing practice world record report attributes most of this
improvement and the rising from poverty to middle-class so economic growth
overall in a smaller proportion of it
is a tribute to just direct income redistribution so it speaks very well of
the good government
by these so-called leftist leader yet that's exactly right thank you david
but i want to hand down that road note
uh... you know here in the united states i guess they consider me or my what a
laugh that's right but in reality i'm not i and a m very moderate in europe i
probably because of the little center-right i don't believe in
redistribute the property to everybody and say okay i have added costco grabbed
a guy's parts
if they don't have the louis not
but there is a balance there is a middle ground right and so at the other extreme
is what we're having an american now where at everybody's on their own no
regulation should grab whatever you want
is a gravity of indifference or
an end of the guys that are rich in power voted to keep all the money will
lead to marriage one of them for a long long time and it didn't work did not
that
help the economy overall just help their incredibly req
so now that you have actually more moderate government in see that's where
it you know ice a advise their definition of socialism it by socialism
you mean communism reliable even that at all i think i'm using zijo and you know
you good allot of our audience might disagree with me by fight a preposterous
all people just
doing work as hard as we possibly can only take as little as they meet
nonsense human beings and never acted that way
but at the same time
socialism if properly interpreted means somewhere in the meadow obviously police
fire department education
is quote unquote socialize
and other things are privatize and where is the proper balance
and looks like
despite all the propaganda against them here in the united states
this summer with his own latin america have found a better balance
so great credit to