Bad Brazil
11/12/2014 |
In 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!