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The Future
Why Brazil May Have Turned A Corner
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  • Nathaniel Greene

    Obviously the writer has confused the Brazil on planet Earth with one in some fantasyland. Brazil is an economic basket case largely put there by Dilma’s incredible economic incompetence. Brazil has a closed economy in which Brazilian companies are sheltered from international competition and are thus unable to compete on the world market. The commodity boom that powered Brazil’s recent growth is over for any foreseeable future. Rather than use the opportunity provided by the commodity boom to improve Brazil’s third world infrastructure and archaic labor laws, Dilma and her Workers Party increased welfare and subsidies that cannot be sustained over the long run. Petrobras is unable to exploit Brazil’s energy reserves without foreign expertise and capital and faces competition from low cost producers in the US and the Gulf. Its scandals are in their opening stages and Petrobras faces multi-billion dollar lawsuits, potentially crippling fines from the US and other regulatory bodies, as well as possible delisting from the NYSE thus crippling its ability to borrow in markets for the foreseeable future.
    Indeed, Brazil hasn’t hit rock bottom and is nowhere even close to it.

    • Andrew Allison

      . . . and always will be.

  • FriendlyGoat

    “greater political maturity on the part of voters, and a growing middle class”

    That once worked pretty well in this country, but we’re losing the maturity part——-as evidenced by the low-brow messaging we now endure from the money poured into campaigns. In many places we now send out pollsters to determine which issues a sample of people will MOST over-react on—–whether major or minor—–and then we create the ads on THOSE issues. Billions of dollars are spent on air to narrow our attention down to wedge issues, making us anything but mature.

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