It’s a big blow to President Rousseff, whose demise mirrors that of Brazil’s economy, the BRICS, and Latin Lefty movements across the continent.

With Brazil in crisis, Latin America could make more news in 2016 than it has in some time. Foreign investors, portfolio managers, and diplomats need to be on the alert: Storm warnings are up in Latin America.

In just a year public disapproval of Brazil’s government and of President Dilma Rousseff’s performance has skyrocketed. The Latin American socialist left just can’t catch a break.

Once again, Brazil seems to have missed an historic opportunity to transform itself and leap into the front rank of world economies. The FT reports that Brazil just had its worst quarterly slowdown in five years, its GDP is shrinking, and investment is drying up. Yet he finance minister did his best to shift the blame by talking about the global economy.