Another Great Reason To Do Business In Argentina.

[camberiu]

In a longer time horizon, I don't disagree with you. Despite the huge crisis, the institutions are working. The police is investigating, indicting and arresting people. The courts are convicting and sentencing. The press is covering and investigating the events and publishing their findings. People on the streets are outraged and protesting. On that angle, there is a lot of positive things happening.
I think this Lula, Dilma and the Worker's Party experience ruling the country has brought a lot of political maturity to the country. People used to fantasize about the "people's heroes" of the sixties and how those former Marxist guerrillas were idealists, pure and really cared about the poor. I think their sting running the country has shattered that image and showed to the even most romantic and naive left wing sympathizer how corrupt, ruthless and devious these people really are. This is killing the last remnants of that old view of evil capitalists vs. good communists that still existed in Brazil.
I also agree that it is highly unlikely that the USA will raise interest rates anytime soon.

Still, I think Brazil will go through a very rough patch over the next several years. Dilma will not be able to inflate her way out of this. The Real is a currency that has brought monetary stability to the country for over 20 years, and became a very loved national symbol, like the Brazilian flag. The people really care about the Real and are very attached to it and what it represents. To try to destroy the Real is to commit political suicide. Lula knows this, and that is why he forced Joaquim Levy down Dilma's throat. If it was up to Dilma, she would just turn on the printing presses. But Lula is well aware that if she destroys the Real, not only she will probably not finish her term, but her, his party and even Lula himself will be regarded as the scums of the earth and be treated like lepers. So she is being forced to adopt austerity measures. This means that there will be some really hard and painful years ahead. Really hard and really painful. Yes, the sun will rise in Brazil again one day. But it will be a very rough night until the next dawn.

 

[Hybrid Ambassador]

2016 Rio Olympic still on ?

Swimming World’ Steve Selthoffer has been following this issue ever since Greenpeace released two reports from their research laboratory that confirms contamination in Guanabara Bay of PCBs, DDT, HCH, metallic contaminants, particularly copper, lead and zinc, present at significant concentrations, combined with evidence of riverine input of mercury and zinc.
This is all combined with the new media online and video reports of tons of raw sewage, industrial and domestic waste, pouring into the bay of which 70% is untreated. The untreated sewage and contaminants flow out the mouth of the bay directly along Copacabana and other Rio ocean side beaches.
The publications released in 2000 and another in 2002 respectively, (without any long term comprehensive cleanup, and current sewage buildup over the past decade in the bay), are no less a concern today than it was then.
Based on the data from the Greenpeace reports and other media stories on pollution contaminants present and measured in Guanabara Bay, it looks like it will not be possible to hold the Olympic sailing event in the bay, and may most likely, cause authorities to reevaluate holding the 10K Open Water Swimming event and the first leg of the Olympic Triathlon at any end of Copacabana beach.
24 hours after Mayor Eduardo Paes stated that the harbor would not be cleaned up in time for the Rio 2016 Olympic Games, “Rio Bay Won’t Be Clean For Olympic Sailing, Mayor Says,” Bloomberg, by David Biller and Pablo Spinetto, Greenpeace released on request copies of their research on the bay that also affects the surrounding beaches, especially Copacabana, directly at the mouth of the bay, home to the Olympic 10K open water swimming event and the first swimming leg of the Olympic Triathlon.

http://www.swimmingworldmagazine.com/news/greenpeace-confirms-rio-2016-olympic-venues-are-at-dangerous-levels-of-pollution/

 

[sleslie23]

Meanwhile, next door. Happy times ahead for the region!!!!!!

Brazil Is Going To Hell In A Handbasket

Once again John Oliver educates the masses:

https://www.youtube.com/watch?v=51W2N68zckY

 

[sleslie23]

Once again John Oliver educates the masses:

https://www.youtube....h?v=51W2N68zckY

Here's one for our whacky Irish friends:

https://www.youtube.com/watch?v=t0CUZnvYr4Y

 

[sleslie23]

Here's one for our whacky Irish friends:

https://www.youtube....h?v=t0CUZnvYr4Y

And here's one for your Godwin's Law give Ejcot:

https://www.youtube.com/watch?v=PuYWlJ2KlPA

 

[Pensador]

In other words, the Petrobras scandal is like someone took a nuclear missile and exploded it in a sewage treatment plant.

http://www.forbes.com/sites/kenrapoza/2015/04/05/heres-how-the-petrobras-scandal-is-helping-destroy-brazils-job-market/

 

[camberiu]

It is actually worse than what the article describes. Most families in Brazil are deeply in debt. Those who lost their jobs will probably default. The companies that they owe money to will probably lay off workers and might even go out of business altogether as a result of those defaults. The newly laid-off employees are also deeply in debt. They will default. The cycle repeats itself. Rinse and repeat.

But, there is a silver lining.


"Amid the public outrage and soul-searching about squandered potential, it is easy to overlook another side to the scandal: Brazil’s law-enforcement and judicial organs have begun to emerge as independent institutions.(...)“Fear of the law was something that did not exist in Brazil for white-collar criminals and politicians,” said Paulo Roberto Galvão de Carvalho, one of the nine prosecutors. “This needs to change, and is changing.”


How Brazil’s ‘Nine Horsemen’ Cracked a Bribery Scandal

 

[Hybrid Ambassador]

As heard by Brazil living Nipponese expats, there are more than 60 % of _middle class_ Brazileiros with many fancy credit cards..

Playing Fast and Loose With Credit Cards: Lessons from Brazil.

http://www.nerdwallet.com/blog/tips/credit-score/playing-fast-loose-credit-cards-lessons-brazil/

 

[camberiu]

As heard by Brazil living Nipponese expats, there are more than 60 % of _middle class_ Brazileiros with many fancy credit cards..

Playing Fast and Loose With Credit Cards: Lessons from Brazil.

http://www.nerdwalle...lessons-brazil/

State owned Banco do Brasil was the primary "pusher" of credit cards. Under direct orders from Lula and Dilma, they issued credit cards to pretty much anyone with a formal job.

 

[Hybrid Ambassador]

In that case the US like to be used...

Yep, WW II victory. Europe won because of US, but most members of US led the so called Great 8, er, G7 Russia got kicked out by US.
See appropriate for them to go join the newly crafted and PRC led AIIB, (Asia infrastructure investment bank) because the EU has come down to conclusion that CHINA is the new world order and US going into total oblivion. So the US o A got used up by its allies.
IMF, World Bank etc..Has now facing new competition..The CHINOS won !