After spending the last month or so in South America I also toured Calama in northern Chile. I can't believe how much costs have gone up for basic goods. Gasoline was almost $2.50 ltr, food costs were way up and housing is on a boom but it honestly reminded me of the Miami real estate bubble. The small airport was very busy with line ups, most seemed like shift changes for those who live in the capital. There has to be at least 10 new Chinese brand SUV's and trucks on the road around Calama with mining tags on the side.

Anyone not working directly for the mines is being left behind in my opinion. A shift in global market conditions will hit this country hard I think. The banks and lending institutions are booming as well and fuelling a consumer rush that has Chileans spending a bit beyond their means as well.

I don't know how the Tech negotiations are going but I sure enjoyed watching the buying today.

Cheers,