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Well, he lives there. Obviously he has some authority in the topic. Just ten years ago Brazil was the darling of the world, now not so much. In any case, I'd take any -yes ANY- news with a grain of salt.
Last time I went to the shopping malls here in Fortaleza, including the malls in the less affluent neighborhoods, they were packed with people...
No wonder there are two new malls being built in the city, both located in poorer districts, and both will open in 2016 (I can name them for you: Grand Shopping Messejana, and Riomar Presidente Kennedy).
This last weekend the beach restaurants at Praia do Futuro were packed too. I was there...
I know that The Economist is going nuts because they fear the new Finance Minister will reverse in 2016 the disaster created in 2015 by the short-lived minister Joaquim Levy, who was a Chicago-boy in the style liked by The Economist.
The Economist pushed for years to bring down Guido Mantega, who was the Finance Minister for 9 years until 2014. The Economist suceeded in 2014, and Mantega was replaced by Joaquim Levy, a Friedman-friendly Chicago-boy.
In just one year, Joaquim Levy wrecked Brazil's economy. No, it was NOT the fault of the economic policy advanced by Guido Mantega, as the manipulative "financial journalists" want make people believe. It was Joaquim Levy who wrecked Brazil's economy, with his Chicago-boy policy.
Now Levy is gone, and the new Finance Minister seems to be more Mantega-like than Levy-like.
I understand tha The Economist will try to use its influence among international investors to try to scare them from investing in Brazil. It's a matter of honour to The Economist not permit that the disaster created when Brazil government listened to The Economist, and fired Mantega, can be solved by a Mantega-like new minister... They can't let that happen... And they will try to scare international investors the more that they can...
Unfortunately to them, in Brazil the real economy is not dependent on international speculators in the financial markets.
Last time I went to the shopping malls here in Fortaleza, including the malls in the less affluent neighborhoods, they were packed with people...
No wonder there are two new malls being built in the city, both located in poorer districts, and both will open in 2016 (I can name them for you: Grand Shopping Messejana, and Riomar Presidente Kennedy).
This last weekend the beach restaurants at Praia do Futuro were packed too. I was there...
I know that The Economist is going nuts because they fear the new Finance Minister will reverse in 2016 the disaster created in 2015 by the short-lived minister Joaquim Levy, who was a Chicago-boy in the style liked by The Economist.
The Economist pushed for years to bring down Guido Mantega, who was the Finance Minister for 9 years until 2014. The Economist suceeded in 2014, and Mantega was replaced by Joaquim Levy, a Friedman-friendly Chicago-boy.
In just one year, Joaquim Levy wrecked Brazil's economy. No, it was NOT the fault of the economic policy advanced by Guido Mantega, as the manipulative "financial journalists" want make people believe. It was Joaquim Levy who wrecked Brazil's economy, with his Chicago-boy policy.
Now Levy is gone, and the new Finance Minister seems to be more Mantega-like than Levy-like.
I understand tha The Economist will try to use its influence among international investors to try to scare them from investing in Brazil. It's a matter of honour to The Economist not permit that the disaster created when Brazil government listened to The Economist, and fired Mantega, can be solved by a Mantega-like new minister... They can't let that happen... And they will try to scare international investors the more that they can...
Unfortunately to them, in Brazil the real economy is not dependent on international speculators in the financial markets.
So your "experience" by going to malls and restaurants are as source more reliable than all the studies that have been done? Dilma must have been very gracious to Fortaleza because Rio and Sao Paulo(cities that i visit often) are feeling the economic meltdown
So your "experience" by going to malls and restaurants are as source more reliable than all the studies that have been done? Dilma must have been very gracious to Fortaleza because Rio and Sao Paulo(cities that i visit often) are feeling the economic meltdown
The GDP is going down, of course I know that. But a 3% drop in GDP is far from being a "nightmare", specially in a country with an expanding welfare network like Brazil, that won't let the poorer fall back into misery (and they are not falling back).
Proof that we are not living any nightmare is the anecdotal evidence I gave about people consuming and living their lives very normally, not only in Fortaleza but in all of the country (I talk about Fortaleza because I live here).
And if the GDP droped 3% in 2015, you can put all the blame on Joaquim Levy and his economic policy that is exactly that advocated by The Economist. The result was a disaster.
I'm happy that President Dilma finally realized that Levy couldn't keep destroying Brazil's economy with the Friedman-inspired policy advocated by The Economist, and fired Levy. I hope new minister Nelson Barbosa will take a more Keynesian approach like former minister Guido Mantega (who was hated by The Economist, but was the architect of Brazil's growth for 9 years). So far, it seems Barbosa is more like Mantega than like Levy. I hope I'm not wrong.
And if the parasitic speculators in the financial markets don't like that, then it should be taken as a compliment. What is good for the financial market speculators is often bad for the real economy, and vice versa.
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