Brazil

Remember when auditors were, by their very definition, supposed to be the embodiment of credibility, trustworthiness and moral fiber? The Brazilian arm of Big Four auditing giant, Deloitte, forgot these  simple prerequisites and as a result the US auditing watchdog fined the firm a record $8 million for what amounts to massive fraud: falsifying audit reports, altering documents and providing false testimony during an investigation that unearthed what it described as its “most serious” finding of misconduct.

Six months after Brazil's former president Dilma Rouseff was removed from power as a result of a carefully orchestrated process by her former Vice President, Michel Temer, who as many suggested at the time, was merely trying to shift attention away from himself and to his former boss due to his "checkered past", swirling with allegations of corruption on par with those of the deposed president, Temer himself may be in danger of impeachment when overnight, Brazil's public prosecutor announced it was studying a possible investigation into whether President Michel Temer put pressure on a forme

Washington Has Reestablished Financial and Political Control Over Brazil

Washington’s opportunity came when the corrupt Brazilian elite illegally removed the elected president from office in order to stop government investigations of their illegal activities. Washington approved the coup with the provision that Washington’s Wall Street allies would control Brazil’s financial offices.

As expected, the peaceful transition period surrounding the new, and just as corrupt according to many, government of Brazil's new president Michel Temer did not last even a month. Yesterday, clashes erupted in Brazil with police deploying tear gas and rubber bullets on protesters opposing to the country's new interim government. Demonstrators hit the streets of Brazil's largest city, Sao Paolo, for a rally calling for the removal of acting president Michel Temer.

Now that the market's fascinated dream with the regime of Brazil's new president Michel Temer is quickly turning into a nightmare, following two immediate resignations of his closest ministers over the ongoing Carwash corruption scandal, including ironically that of the country's anti-corruption minister, Fabiano Silveira, attention is gradually returning to what is truly the cause of Brazil's woes: an unprecedented economic depression, although only for the people - certainly not for the political elite.