Submitted by George Greenwood via The Foundation For Economic Education,
Brazil has faced a sharp change in its economic fortunes. Graft, mismanagement of growth dividends and protectionism has put dreams of a seat at the top table on hold.
At the heart of this regression has been the beleaguered president Dilma Rousseff.
Brazil's widely documented (and escalating) economic, financial, and political devastation has traversed a path from the tragic, to the farcical, to the absurd, and now appears stuck in surreal.
Submitted by Clarice Palmer via TheAntiMedia.org,
As online publications have hailed the major protests overtaking the streets of Brazil at the outset of an apparent political revolution, few discuss the problems that have been brewing for decades in South America’s largest nation.
In less than five months, Brazil is expected to host the Summer Olympics.
If you follow LatAm politics, you know that that is an absolute joke. Last summer, the country descended into political turmoil and the economy sank into what might as well be a depression. Nine months later, inflation is running in the double digits, output is in freefall, and unemployment is soaring. On Wednesday, the government reported its widest primary budget deficit in history and less than 24 hours later, the central bank delivered a dire outlook for growth and inflation.
Well, bad news is still good news in Brazil, apparently.
Despite the fact that a complete political meltdown is less than two months away, the market is excited about what’s being viewed as a possible turning point for the country’s economic fortunes.