Nov
12

Bad Brazil

rouseffIn a very close election, Brazilians recently re-elected Dilma Rouseff. The result: the Brazilian real fell 2% and is near a 10-year low, and the stock market fell almost 3%. Worse, Brazilian sovereign debt is close to being downgraded to non-investment grade, inflation is high and the economy is in recession. Regrettably, Aecio Neves didn’t win. Outcomes like this ensure that Brazil will have a glorious future, and always will!

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