Broken Brazil

brazilThe worst recession in Brazil’s history is two years old. Brazil’s GDP declined 3.8% in 2015 and 3.6% in 2016, a decline totaling 7.26%. If you add Brazilian population growth during those years, per capita GDP declined by a whopping 8.9%. By contrast, during the Great Recession US GDP fell 4.3% and per capita GDP shrank 6.27%. This makes the ongoing Brazilian decline already 41% worse than our Great Recession.

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