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Another South American country taking a dive,

Scorpio

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#1
We all know about Argentina, Venezuela, etc. This one too has been going on for awhile now.
Been getting worse and worse.


Brazil: economic collapse worse than feared
by Patrick Gillespie @CNNMoney March 31, 2016: 2:26 PM ET


Amid political chaos, Brazil's economic collapse is worse than its government once believed.

In the midst of rising calls to impeach President Dilma Rousseff, Brazil's central bank announced Thursday that it now expects the country's economy to shrink 3.5% this year.

That's worse than the central bank's previous estimate for a 1.9% contraction. The darker forecast matches what the International Monetary Fund projected for Brazil -- Latin America's largest country -- and what many independent economists have suspected.

Brazil's economy shrank 3.8% last year and the country is already in its worst recession in 25 years. Brazil has been slammed by low commodity prices like oil, a weak currency and an unprecedented bribery scandal at the state-run oil company Petrobras. Unemployment is rising, consumer spending has fallen and foreign investors have taken their cash out.

The Petrobras scandal has been a major source of pain on all levels for the country. Politicians, company execs and billionaires have been arrested during a massive investigation that's embroiled all levels of government.

Rousseff's approval rating is a mere 10% and her popularity took a big hit Tuesday. Brazil's biggest political party, PMDB, voted to leave a coalition led by Rousseff's Workers' Party. The loss of PMDB greatly increases the odds of Rousseff's impeachment.

After the PMDB vote, Rousseff canceled a planned appearance at a Washington D.C. energy summit with President Obama and dozens of other leaders.

Brazilians are angry at Rousseff because of the economic crisis, but also because she recently tried to appoint her predecessor, former president Luiz Inacio Lula da Silva, as her chief of staff.

"Lula" as he's known, is being investigated by police for money laundering. Police allege that a construction company gave Lula a vacation home in exchange for receiving generous contracts with Petrobras, which Lula oversaw as president between 2003 and 2010. Lula's appointment was viewed as an attempt to shield him from investigation because under Brazilian law, only the Supreme Court can try high-ranking cabinet members.

A Supreme Court judge in Brazil temporarily suspended the appointment. This week the Supreme Court is convening to decide whether to uphold the suspension or allow the appointment.

Experts say the impeachment process for Rousseff could gain serious momentum in the next two to three months -- right before the Olympic games in Rio de Janeiro.

CNNMoney (New York) First published March 31, 2016: 1:56 PM ET

http://money.cnn.com/2016/03/31/news/economy/brazil-gdp-recession/index.html
 

Buck

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#2
Brazil

I had to look back into my buddy George Soros and his Petrobras dealings
I remember reading several years back that some drilling rigs situated in the Gulf of Mexico were shipping out to Petrobras and probably weren't going to come back and that George Soros was investing in drilling at the mouth of the Amazon or some story similar to that

So, it seems George bought Petrobras, sold it all then re-purchased more than double his first investment
http://us-conservative-politics.yoe...soros-divestment-in-petrobras-prece-2958.html

Interesting

My suspicions:
The value of that country WILL end up in the pockets of the likes of Soros before it goes over the cliff'

And the Petrobras corruption?
It wouldn't surprise me, if it were found out, that Soros and associates had something to do with the corruption scandal in Petrobras in order to set up the mark for himself

Buy Low / Sell High
Drive The Price Low and Buy / Propagandize The Price Higher, Sell Out - Leaving the carcass for the buzzards

Brazil will soon be just a carcass but where will that leave BRICS?

Remember that group?





Poor citizens of Brazil, so much corruption : (
 

Hystckndle

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#3
I wonder how preps for the Olympics are going.
I read a bunch of stuff.....made me so nervous, I hadda
quit following it....
 

nickndfl

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Anybody with any money in South America is buying a house in Miami to hedge. If they can get out permanently too it is a bonus. Venezuela has an inflation rate of over 100% annually. Brazil is very corrupt as the middle class has virtually disappeared. Ecuador is shaky, although it has avoided the inflation issue because it is on the $USD. However, it has tight import restrictions and has placed large tariffs on anything brought into the country. Argentina is messed up as ever and Suriname is as backward as a Spanish country bumpkin.
 

Scorpio

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Remember that group?
same as the 'Asian Tigers'

that group was built up, sodomized, then left for dead,

same goes for the brics
 

southfork

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Anybody with any money in South America is buying a house in Miami to hedge. If they can get out permanently too it is a bt. Venezuela has an inflation rate of over 100% annually. Brazil is very corrupt as the middle class has virtually disappeared. Ecuador is shaky, although it has avoided the inflation issue because it is on the $USD. However, it has tight import restrictions and has placed large tariffs on anything brought into the country. Argentina is messed up as ever and Suriname is as backward as a Spanish country bumpkin.

The US is no less corrupt, it just has yet to be exposed, our Ponzi debt scheme will unwind soon.
 

AurumAg

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#7
same as the 'Asian Tigers'

that group was built up, sodomized, then left for dead,

same goes for the brics
If Brazil is the BIG "B" in BRIICs, then I have to wonder how the other member nations are faring.
 

AurumAg

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#8
The US is no less corrupt, it just has yet to be exposed, our Ponzi debt scheme will unwind soon.
The U.S. and China are fighting over the last chair.