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"BRICS" is Brazil, Russia, India, China, and South Africa. This is an article about Brazil and Argentina.
I'm not sure if this guy is being serious when he implies that hedge funds in the US should operate with the best interests of the Brazilian and Argentine people in mind. Surely he does not believe this.
Regardless, so-called "Vulture Funds" may not be legally entitled to the full repayment of these debts, but that doesn't change the fact that Brazil and Argentina are constantly destabilized because their people don't want to live up to the obligations they make, don't understand how capitalism works, and constantly elect crooks and morons.
It's always the same story. When the global economy is booming and credit is easy to come by, these South American countries are "capitalists" who are more than willing to borrow money from creditors in the United States. Then when rough times hit, suddenly they're all anti-capitalist. They're "Fair weather capitalists", and that's why their currencies are weak, and their borrowing costs are high. Nobody trusts them.
The whole problem is usury, usury must die, it's immoral way to make money and does not benefit anyone except the usurer.
That's weird cause when I think "collectivism", I think of people working together. OTOH: word is people who are TOO much "individuals" will try to cut each other's throat.
Individualism tends to refer to people being responsible for themselves, and themselves only.
Collectivism tends to refer to the state being responsible for everyone, and everyone contributing to the state.
Neither is right or wrong. The USA is far and away the most individualist country in the world right now. IIRC Britain and Canada are not too far behind. Our way of thinking doesn't come naturally to most people in other countries.
So all those so-called finance experts tell people for years to invest in the BRIC's and when they show up as third world nations they then want their money back.
Give me a break. It was a bad investment, you gambled and lost. Ask Trump if he has losses in the BRIC's maybe that why he is running.
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