Three weeks ago, in “‘Dark’" Days Ahead: Main Power Supplier For Brazil Olympic Games Pulls Out”, we brought you the latest humiliation out of Latin America’s EM darling gone bust.
Authored by Nomi Prins, author of "All The Presidents' Bankers", via NomiPrins.com,
As we kick off the new year, there is perhaps no more tragic economic story than that of Brazil.
Once an EM darling, Latin America’s largest economy fell off the deep end in 2015 as a perfect storm of falling commodity prices, depressed demand from China, a soaring dollar, a devalued yuan, and an intractable political crisis plunged the country into what even the sellside has begun to acknowledge is an outright depression.
Elections, elections, and more elections is the 'change' meme for 2016 but, as Bloomberg details, the key events of the year ahead vary from a California marijuana referendum to Brazil's Olympics, and from Davos to SCOTUS. No matter what, 2016 holds a lot of opportunity for volatility, and without The Fed's safety net, who knows what that means for markets...
Here's a selected calendar of key events for the year.
Brazil is still refusing to accept an Israeli ambassador because he was a settler leader in the occupied West Bank. Back in September, the Brazilian President, Dilma Rousseff rejected the appointment of hardliner, Dani Dayan, as Israel’s envoy to her country. She said that it could be understood as giving support for the illegal Israeli settlements.