Tuesday, April 23rd 2013 - 06:46 UTC

Brazil investigating sale of 20 Embraer E-190 to Aerolíneas Argentinas fearing surcharges

Brazil’ aircraft manufacturer Embrear is again resurfacing suspicions regarding the sale of commercial planes to Aerolineas Argentinas involving several million dollars in surcharges. The company informed the US Securities and Exchange Commission, SEC, that it is investigating companies from five different countries to which it sold aircraft allegedly in transactions suspicious of irregularities.

Aerolineas E-190 parked in Buenos Aires regional air terminal

In 2009 Argentina signed an agreement for the purchase of 20 Embraer E-190 aircraft for government controlled Austral, an operation apparently involving 698 million dollars with a unit price of 34.9 million dollars. The E-190 is considered a mid range aircraft highly competitive and with a capacity of 100 to 115 pax.

However this sum is considered excessive by analysts if compared with what the going market price was at the time. The operation 80% financed by the Brazilian Economic and Social development bank, BNDES, was signed by Federal Planning minister Julio De Vido; then Transport Secretary Ricardo Jaime and then Aerolineas Argentinas president and currently Justice minister Julio Alak.

Magistrate Sergio Torres opened an investigation on suspicion that the Argentine government had paid 5 to 6 million dollars in excess for each aircraft, which would add up to 100/120 million dollars. Aerolineas Argentinas and the government rejected the claims arguing that in effect the original price was 30.6 million for each unit and the additional 4.3 million was the result of spares and pilots’ instructions.

The situation set off alarm bells in the aircraft industry and a warning from United States SEC office to which the Brazilian government responded by opening an internal investigation.

And last month Embraer sent an update report to SEC on investigations so far: “We received a summons from SEC in September 2010 requesting about certain operations relative to overseas sale of aircraft. In reply and to consultations over possible breach of US legislation on foreign corrupt practices, we contracted a foreign solicitor for an internal investigation into transactions with three specific countries”.

Likewise Embrear says it is willing to expand the area of investigation and has done so including two additional countries and in close cooperation with the US Secretary of Justice and SEC. “In case authorities decide on measures against us or the sides involved reach an agreement to solve the issue, we could be obliged to pay strong fines or incur in other sanctions”.

The case not only refers to market prices of the time but to the fact that when a big number of aircraft are involved, they usually are benefited with additional rebates.

According to the specialized magazine Aircraft Commerce, in November 2008, an E-190 was sold to Aeroméxico for 29 million dollars and in July 2009, TACA airlines paid 30.5 million dollars for an E-195. Air Europa in 2009 paid 31 million dollars, also confirmed by the Airline Fleet Management magazine. Finally Ascend Aviation Insight said that in 2009, the E-190 had a going price of 27.85 million.
 

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1 Xect (#) Apr 23rd, 2013 - 06:55 am Report abuse
Ah yes those pilot instructions, very expensive you see........
2 Orbit (#) Apr 23rd, 2013 - 07:25 am Report abuse
Indeed, and they are different for every plane, even though the planes are all of the same type. And of course each plane needs it's own individual spares. You wouldn't want a job lot for the fleet. Oh no.
3 mastershakejb (#) Apr 23rd, 2013 - 08:16 am Report abuse
LOL, USA gonna make some more money off Brazil/Argentina's ineptitude and corruption in fines......LOVE IT! “twisting myself laughing”!
4 yankeeboy (#) Apr 23rd, 2013 - 09:57 am Report abuse
These dumb Rg clucks wonder why their country has a crisis every decade. Until corruption is rooted out it will never change,
They need a Pinochet type Dictator to come in for at least a generation and fix this problem once and for all.
rattatatat rattatatat
5 Clyde15 (#) Apr 23rd, 2013 - 10:17 am Report abuse
12 Brazilian (#)
Apr 22nd, 2013 - 02:01 pm

Wow yankeeboy, you are more naive than thought. I guess Embraer must be bribing the US, I didn't realize Brazil was so strong now to bribe the world's biggest economy. Oh well, I guess being of the biggest creditors to the US has it's preks ;)

Substitute Argentina for USA

Any comments ?
6 The Chilean perspective (#) Apr 23rd, 2013 - 11:01 am Report abuse
Everyone knows when you're doing a deal with Argentines you have to leave a little cream on top, you know they expect it, it's like a handling fee.....
7 mastershakejb (#) Apr 23rd, 2013 - 11:13 am Report abuse
lol Dumbass Clyde15
LOL @ biggest creditor to USA, that's China......got any other theories? like what caused your mental inferiority? was it eating paint as a child? LOL @ brazil and argentina forever, since 1960!
8 Xect (#) Apr 23rd, 2013 - 11:38 am Report abuse
Actually the biggest creditor to the USA is the USA in the shape of the Federal Reserve followed by China (although sometimes swaps place with Japan) and then in 3rd place is Japan and 4th place is Great Britain and finally in 5th is oil companies.

Brazil is 6th on the list and a very long way off occupying the top spot.....
9 Clyde15 (#) Apr 23rd, 2013 - 11:47 am Report abuse
#7
Mentally inferior to an amoeba like you ?
I will spell it out for the mentally challenged.
The subject was the alleged price fixing by Embraer with possible allegations of bribery.
Brazilians post refuted the idea of Brazil taking bribes..
I copied and pasted his comments awaiting his reply.
You jumped in with your trite jingoistic reply

14 Brazilian (#)
Apr 22nd, 2013 - 03:38 pm

Sure Yankeeboy, Embraer is bribing the US and a whole bunch of major airlines around the world to buy it's planes.

From the allegations about Aerolineas Argentinas , my question, Well, is it ?
Yankeeboy and Brazilian can fight their own battles.

LOL @ brazil and argentina forever, since 1960!

My Google translator failed to put this into English.
10 mastershakejb (#) Apr 23rd, 2013 - 11:51 am Report abuse
And btw, ClydeTheRetard, Brazil's external debt is rising every year, and are currently near their all-time-highest ever recorded deficits.
11 Also Add (#) Apr 23rd, 2013 - 11:54 am Report abuse
www.tradingeconomics.com/brazil/current-account
lollers, check out that Brazilian deficit peaking at highest ever, Brazilian economy in trouble, worse than 2001?
12 MarkWhelan (#) Apr 23rd, 2013 - 11:55 am Report abuse
Only those living here in Brasil can see a donation to PT when it is staring them in the face.
13 Also Add (#) Apr 23rd, 2013 - 11:57 am Report abuse
www.brazzilmag.com/component/content/article/122-april-2013/13000-brazils-foreign-exchange-flow-at-us-29-billion-deficit.html
UH OH! Brazil is fucked? YUP LOL
14 mastershakejb (#) Apr 23rd, 2013 - 12:02 pm Report abuse
www.reuters.com/article/2013/03/28/brazil-economy-budget-idUSL2N0CK1K620130328
LOL @ Brazil so hard!!!!!!!!!
15 Also Add (#) Apr 23rd, 2013 - 12:09 pm Report abuse
www.tradingeconomics.com/charts/brazil-current-account.png?s=bzcacurr&d1=19980101&d2=20130430
YIKES! Brazil's deficit in 2013 record worst ever!!!!!! UH OH BRAZIL! Why are you such a disaster?!
16 yankeeboy (#) Apr 23rd, 2013 - 12:41 pm Report abuse
As I said yesterday, and the Brilliant Brazilian refuted. The USA will most likely open a case against Embraer. I wonder how many U$ millions of fines they'll be forced to pay then?
It may lock them out of USA Fed purchases too.
Oh my
17 DanyBerger (#) Apr 23rd, 2013 - 01:10 pm Report abuse
@ yankeeboy

Meanwhile...

Argentinean court frozen U$s 19 billions just from Chevron.

“BUENOS AIRES, Argentina -- An attempt by Chevron Corp. to unfreeze its assets was dismissed Wednesday by an appeals court in Argentina, where the winners of a $19 billion environmental judgment in Ecuador are suing to force the oil company to pay.”
www.huffingtonpost.com/2013/01/31/argentina-chevron-assets-_n_2591115.html

I guess yanks will get everything confiscated in the near future and they can do absolutely nothing.

It is not sad that the falling empire ends like that?
18 Also Add (#) Apr 23rd, 2013 - 01:22 pm Report abuse
www.tradingeconomics.com/charts/argentina-industrial-production.png?s=aripnsyo&d1=20101101&d2=20130430

www.tradingeconomics.com/charts/argentina-consumer-confidence.png?s=arccind&d1=20110401&d2=20130430

LOL, some funny facts/pictures of Argentina falling apart like Brazil
19 Brazilian (#) Apr 23rd, 2013 - 01:29 pm Report abuse
# 5 - How is Embraer bribing someone if they're getting paid more for a product? If anything Argentina was bribing Embraer. For all I care, Argentina could pay one billion for each plane if they want to. Sounds like some people here don't understand how capitalism works.

And to answer some people wetting their pants saying that Brazil economically is a disaster, got some news for ya: we're doing a lot better right now than your crisis-striken high-unemployment austerity-loving countries. Cry me a river and gringalhada.
20 yankeeboy (#) Apr 23rd, 2013 - 01:48 pm Report abuse
19. Oh but the numbers say that you are not doing well. In fact I can see another devaluation coming if the trade balance doesn't even out rather quickly.
Psst I don't see that happening anytime soon.
21 Simon68 (#) Apr 23rd, 2013 - 01:53 pm Report abuse
17 DanyBerger (#)
Apr 23rd, 2013 - 01:10 pm

Dany, the only ones who get hurt by the the Chevron embargoe are YPF and the Argentine population, without Chevron's investment and know-how we'll be trying to get petroleum out of Vaca Muerta for the next 2.000 years!!!!!
22 Brazilian (#) Apr 23rd, 2013 - 01:54 pm Report abuse
# 20 - Just to teach you a little bit about economy, curency devaluation is good for Brazil, it makes exports cheaper and more competitive. Having a currency which is highly valued is the main reason why imports increase and exports decrease. And as far as currency goes, China is LOL at the US with all the major deals it has made, from Australia to Brazil, to drop the dollar and exchange in domestic currencies. As far a recovery of the US economy with a debt higher than it's GDP, good luck with that, and good luck with losing your rights in the US in the name of fighting terrorism.
23 yankeeboy (#) Apr 23rd, 2013 - 03:11 pm Report abuse
Just to teach you a little bit about economy, curency devaluation is good for Brazil,

That tells me all I need to know about your “economic expertise”
moron
24 warteiner (#) Apr 23rd, 2013 - 03:17 pm Report abuse
So, why Mercos**t didn't put the article where Embraer deny ''categorically'' that lie?

Pathetic newsagancy for pathetic people.
25 Fido Dido (#) Apr 23rd, 2013 - 03:19 pm Report abuse
“Just to teach you a little bit about economy, curency devaluation is good for Brazil.”

A certain level for the Brazilian real is good for the Brazilian industry. At least the Brazilians on all levels are full aware that the US dollar is in the race to become worthless (ZERO) while most people in the US are asleep..all the QE's don't work and wont' stop.

You can't thake those two girls (yankeeboy and mastershake that used to name the brits madmohammeds) serious since they are better in playing video games in their mom's basement.
26 mastershakejb (#) Apr 23rd, 2013 - 03:30 pm Report abuse
LOL so hard at crumbling, corrupt Brazil and Argentina!!!!!!! Enjoy your outrageous prices and inflation, mixed with low incomes!
27 yankeeboy (#) Apr 23rd, 2013 - 03:33 pm Report abuse
Fido, Let's think through your statement a bit, if a currency is being devalued against another currency that is being devalued
Isn't it then a race to the bottom?

Foolish Socialists will never learn
28 mastershakejb (#) Apr 23rd, 2013 - 06:02 pm Report abuse
27,
And what Fido doesn't know is HOW Brazil has to try to race to the bottom: it has to buy billions of US dollars in an attempt to devalue its currency, lol
29 briton (#) Apr 23rd, 2013 - 06:48 pm Report abuse
One wonders why Brazil keep playing the Argentine game,

Surely Brazil can see that Argentina on the whole is pulling her back, hamstringing her ankles
Using Brazil to get things to share with Argentina, who in return would stab her in the back

Perhaps the lady in Brazil is to closely linked to the lady in Argentina to see the future damage,

Still,
One has to wonder who is the puppy and who carries the lead..lol.
.
30 yankeeboy (#) Apr 23rd, 2013 - 06:58 pm Report abuse
$8.82/1 on Florida Ave...

Will we break 9 in April? My gosh 2 months ahead of my estimate
my my
31 Fido Dido (#) Apr 23rd, 2013 - 07:09 pm Report abuse
“And what Fido doesn't know is HOW Brazil has to try to race to the bottom: it has to buy billions of US dollars in an attempt to devalue its currency, lol”

Idiot, Brazil is dumping their holding in US treasuries, just like China, Russia and many more countries. Who are the buyers? The Private Federal Reserve is buying its own crap because nobody is buying (that's why we have all the QE's going on, that don't work)...fool.
Yankee (mexican) idiot, still stuck in the bogus left vs right paradigm.
Brazil might try to devalue it's currency but it doesn't work, so far it stayed stable (though they still try to manipulate it with words, but it's not working). The real issue is the US, It's the US who is in the race to devalue the US dollar to inflate themself out of the mess we are in, but it will hurt us in the long term..that's why the so called BRICS nations are trying to set up something to get out of the dollar / to do business outside the dollar. As I typed before, we are in a currency war.

Now you two idiots need grow up and wake up that we here in the US are far more in danger of losing everything, rather than ranting online here nonsense. Oh wait, who am I kidding, just keep playing video games will ya.
32 mastershakejb (#) Apr 23rd, 2013 - 07:20 pm Report abuse
Wrong again, Fido
www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt

www.euroinvestor.com/news/2013/04/15/china-boosts-us-treasury-holdings/12290699

Boy, you're a moron!
33 ChrisR (#) Apr 23rd, 2013 - 07:26 pm Report abuse
I have been questioning the competence of the fabled Matega, the Finance Minister and LIAR who, single headedly destroyed the international investors interest in Brasil last year when he puffed the economy out of sight of reality. It seems that I was right all along.

Idiots like Brazilian and especially the Dutch wacky economist and BitCoin 'expert' (how I laugh at that) Fido Dildo (it suits him better) who still cannot see the real implications behind the USD 2.9 Bn outflow in terms of job turmoil. At least Brazilian lives in Brasil, Dildo ‘lives’ in the states but has to regularly go back to Holland presumably to reset his visa. He is now bad-mouthing Roberta Jacobson, Assistant U.S. Secretary of State for Latin America, over her looks FFS as if that has anything to do with it! “Talk about biting the hand”, ungrateful bastard.

But there is no persuading such ‘experts’ and as long as Dilma keeps the prat in post things will most definitely get worse for Brasil.

Just remember my question of last week: “is there ANYBODY in charge of the finances and strategy of Brasil”. Answer came there none.
34 mastershakejb (#) Apr 23rd, 2013 - 07:35 pm Report abuse
Wrong again, Fido
www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt

www.euroinvestor.com/news/2013/04/15/china-boosts-us-treasury-holdings/12290699

Boy, you're a moron!
35 yankeeboy (#) Apr 23rd, 2013 - 07:50 pm Report abuse
I think Fido read a couple headlines a few years ago and hasn't updated his knowledge base since then.
Everything he talks about is not reflected in the current market.
China is seriously wobby I don't think they know how to get out of this mess now that companies are moving to cheaper locals like back to the USA.
Their whole economy was based on being the worker bees of the world, what do they have it they can't be that? A huge hungry and cold population where 100s of millions are destitute.
and Brazil
Too many poor lazy people living in slums, until that goes away they'll never make it.
They tend towards Socialism but that doesn't work with lazy populations or huge oil reserves AND IT HAS BEEN WELL PROVEN.
They can't devalue their way to prosperity.
Inflation is already creeping up and they're making piss poor policy decisions they could easily be back to the 70-80s economy quicker than you could imagine.
Should be interesting to watch

Any bets the Arg Peso is 9 by eom?
36 Pirate Love (#) Apr 23rd, 2013 - 07:53 pm Report abuse
what do we expect from argentina?, a country that finds itself at the wrong end of the corruption index , and slipping year after year. truly outstanding!

Lets face it Argentina is CORRUPT!!!! to the core............
37 briton (#) Apr 23rd, 2013 - 08:40 pm Report abuse
Who removed the CFK of the side of the plane?
I thought she owned everything..lol.
38 Chicureo (#) Apr 23rd, 2013 - 09:11 pm Report abuse
In all fairness, Boeing and Airbus do it as well, but through hiring of “consultants” and “subsidies”. Still, I find it humorous...
39 yankeeboy (#) Apr 23rd, 2013 - 11:57 pm Report abuse
Incredibly Shrinking Trade Deficit. 500MM and they needed 900MM

That's a big difference in a small country..

I wonder what medicines will be not be let in next month...
40 ljordao (#) Apr 24th, 2013 - 01:31 am Report abuse
@19:

No, dimwit, we are not doing well at all. Brazil is a hellhole of political corruption and bureaucratic incompetence (e.g., Petrobrás, that sorry excuse for an oil company). It excels only in missing opportunities for development.
41 yankeeboy (#) Apr 24th, 2013 - 11:13 am Report abuse
Lots of articles about WHEN the devaluation will happen not IF.
I love being right in the morning

The path is clear
Devalue Peso...Hyperinflation...Depression
42 The Chilean perspective (#) Apr 24th, 2013 - 12:15 pm Report abuse
I finished watching Periodismo para todos earlier and the host Jorge Lanata just keeps blowing me away with his exposée on Argentine corruption, for those non Argentines who can understand Castellano do yourselves a favor it's in HD .

youtu.be/cfECP03nYgY
43 Brazilian (#) Apr 24th, 2013 - 02:21 pm Report abuse
It seems like some people still don't understand the whole issue of currency devaluation, so let me try to explain it in easy terms so some troubled people here can understand. If the Brazilian Real is valued to strongly compared to the dollar, products in Brazil become more expensive, and therefore lose their competitiveness in the world market, and products abroad become cheaper to import, hurting the national industry. Is this so hard to understand? Seriously, if you cannot understand that, then just don't talk about economy. In my opinion, the Real should be ideally 2.50 compared to the US dollar, but that's just my opinion. And for all the Bits and Yanks here yapping away about how Brazil's economy this and that, favelas bla bla bla... look in the mirror, your countries are doing too well. For Yankeeboy, I leave a little link: theeconomiccollapseblog.com/archives/america-the-fallen-24-signs-that-our-once-proud-cities-are-turning-into-poverty-stricken-hellholes
44 ChrisR (#) Apr 24th, 2013 - 04:27 pm Report abuse
43 Brazilian

Yes, we know all that.

What happens to the cost of imports? YES, they go up and everything you buy in Brasil which is an import OR has an element of an import in it goes up by the ration of indigenous to export values.

Do you make ALL the parts for the cars that Brasil manufactures? NO YOU DO NOT.

Surely even you can see what is coming: your exports which have some element of import in them BECOME MORE EXPENSIVE.

The real problem Brasil has is that it pays itself too much for labour AND now it will be paying too much for all the essential imports.

Could you not understand that? That is EXACTLY what TMBOA has done with AR and boy, are they paying for it now.

The question still remains: “is there ANYBODY in charge of the finances and strategy of Brasil”.

CAN ANYBODY ANSWER THIS CONSTRUCTIVELY (that rules out you DILDO, go play with your one BitCoin).
45 yankeeboy (#) Apr 24th, 2013 - 04:33 pm Report abuse
Socialists think if they have more zeros on their bills they are richer.

I guess they don't remember the Austral in Argentina

For gosh sakes Brazil got this new Rial in 1994!!
It is already worth less than 1/2 against the U$

You can not devalue your way to prosperity.
If you could people from Zimbabwe would all be TRILLIONAIRES

moron
46 DanyBerger (#) Apr 25th, 2013 - 01:42 pm Report abuse
Boys, boys

Brazil and china have been done the devaluated currency game from long time ago and China is taking over you and Brazil is the 5th world economy.

While you and the Brits are sinking...

Do you need more proves that you are always wrong?

I hope not.
47 yankeeboy (#) Apr 25th, 2013 - 03:18 pm Report abuse
Dany, You will be long dead before China has overtaken the GDP of the USA. Long dead
I wouldn't worry your empty head about it.
48 Brazilian (#) Apr 25th, 2013 - 04:27 pm Report abuse
# 47 - Unless Dany is really old or sick, he WILL SEE China overcome the US, as it will most likely happen in 2016. More conservative estimates say that at the longest it will take 20 years.

www.telegraph.co.uk/finance/china-business/9947825/China-to-overtake-America-by-2016.html
49 yankeeboy (#) Apr 25th, 2013 - 05:38 pm Report abuse
48. If the Chinese can keep the bubble from popping, the real estate market from crashing it will be a miracle still 2016 is a long way off and a lot can happen by then maybe even a Revolution. I hear the provinces are getting mighty restless with the economy slowing down and salaries not going up,
Still in 3 yrs I don't see how they can more than double their GDP.

China, 7 T at 8.4% growth gets you to under 8B
USA 15T at 1% growth over 3 yrs is 15.5
Still about 1/2
So how do you figure?
50 DanyBerger (#) Apr 26th, 2013 - 06:45 am Report abuse
@YankeeBobo

welcome! I thought we lost you...

China had become this year the world trading power surpassing USAMEX and as well had said Brazilian and showed it with that article China will surpass USAMEX in 3 years.

And you know what?

China as the bigger economy in the world will become a vacuum of capital and you will become short of $$$ to lend and to get $$ to avoid your entire collapse you will have to pay a lot of interest.

Until the whole economy collapses.

Can you see how bad you are?
51 yankeeboy (#) Apr 26th, 2013 - 11:18 am Report abuse
Um, No I don't see it. The USA's GDP is 2x China's and that ratio is not going to change much in your lifetime.

Viva la Revolucion.
Yesterday there were 22 protest in BA, do you think you'll have more today?
52 Brazilian (#) Apr 26th, 2013 - 02:01 pm Report abuse
How's that debt doing Yankeedoodle?

en.wikipedia.org/wiki/List_of_countries_by_external_debt

USA doing just fine:

rt.com/usa/us-food-percent-emergency-612/

www.citymayors.com/features/uscity_poverty.html

theeconomiccollapseblog.com/archives/america-the-fallen-24-signs-that-our-once-proud-cities-are-turning-into-poverty-stricken-hellholes

www.american.com/archive/2013/march/the-next-real-estate-bubble-farmland

www.bbc.co.uk/panorama/hi/front_page/newsid_9694000/9694094.stm

Just tune in to CNN and FOX News, be a patriot and pick some burgers before American Idol comes on...
53 yankeeboy (#) Apr 26th, 2013 - 02:33 pm Report abuse
I don't see what your point is? I told you I am not happy with the debt or the U$ devaluation. Once we get rid of THe Colelctivist in CHeif and take back the house and senate we can right the ship.
We are extremely, rich and innovative I have complete faith in the USA getting out of its temporary doldrums.
Even at teh meagher rate of 2.5 GDP growth we are growing the size of Germany this year and 1/2 of China.
No worries here.
Have I ever said that the USA doesn't have its own problems?
Nope
But we are waaaaay better than anything else in the world.
A little traveling will tell you that
54 Brazilian (#) Apr 26th, 2013 - 03:42 pm Report abuse
# 53 - What is my point? That while you keep on endlessly ranting about the economies of South American nations, your own nation's economy isn't doing too well, something you seem to ignore in your rants. No country in the world has a higher debt than the USA, and the growth of US debt is a long-term trend, with no indications of slowling down anytime soon. As far as inequality goes, it has been greatly increasing in the US. The rich in the US are doing just fine, but the amount of poor people just keeps increasing. Yeah, the USA has very serious problems of it's own. And I happen to travel a lot, and I can list you a whole bunch of countries with higher living standards than the US. Obviously if you compare the US, a developed nation, to a developing nation, the US has a higher standard of living. But comparing the US to other developed nations, the US doesn't fare out too well.

en.wikipedia.org/wiki/List_of_countries_by_inequality-adjusted_HDI
55 yankeeboy (#) Apr 26th, 2013 - 03:54 pm Report abuse
A Brazilian who travels a lot.
OK

Stick to CNN if you want to talk about the USA. I am here to talk about Argentina not even Brazil I don't care about it.

As long as my meals aren't disturbed by a table of monkeys chattering away in pseudo-Portuguese I don't care about it at all.

I'm considered middle class, I'm doing fine and I don't expect it to change anytime until I retire.
You may see statistics where the lower class is growing but I see plenty of them that says it is about the same as it has been for the last 50 yrs.
It all depends on what is classified as rich and poor.
When I was growing up poor people had a TV and no A/c now they have multiple TVs, Smart Phones, A/C everything you can think of and why is that? The definition of poor has changed.

You've been brainwashed and you make me sad maybe this will help:

www.forbes.com/sites/timworstall/2013/03/09/the-problem-with-the-wealth-inequality-in-america-video-it-commits-worstalls-fallacy/
56 Brazilian (#) Apr 26th, 2013 - 04:26 pm Report abuse
# 55 - Yes, I am a Brazilian who travels a lot. In any significant tourist destination you go around the world you will see many Brazilians. In fact, no other nationality spends more in the US per capita than Brazilians. Monkeys chattering around the table? I'm sorry if it's like that when you visit your mom's house. Don't like Brazilians? Too bad, because Brazilian tourism to the US is increasing, and will continue to do so, specially if the US cancels visa requirements for Brazil, which it is likely to do. You're here to talk about Argentina? No one gives a rat's ass what you're here to talk about. Unless the editor's of this website kick me out, I'll keep on talking about whatever I want. And if you haven't noticed, the title of this article begins with “Brazil”. Poverty is growing in the US, that is a fact, but you can do just like CK that you like so much and make up your own statistics. If you like Forbes so much, which is a pretty crapy publication, here's an article for you, dawg (lol):

www.forbes.com/sites/robertlenzner/2013/04/19/the-growing-disparity-in-wealth-made-the-great-recession-worse-and-the-recovery-weaker-than-ever-before/
57 yankeeboy (#) Apr 26th, 2013 - 05:07 pm Report abuse
Brazilians should not be allowed outside of their native habitat and especially not around civilized people.
Don't hold your breath on the visa waiver it won't be happening anytime in the near future. We have enough monkeys overstaying their travel visas as it is.
Maybe look up the definition of wealth and poverty and try to stick to the same subject.That article you posted has nothing to do with Poverty. Nothing at all.
58 ChrisR (#) Apr 26th, 2013 - 06:55 pm Report abuse
57 yankeeboy

If 'Brazilian' is anything like the rest of the citizens of Brasil you are absolutely correct.

It's like talking to a brick wall over anything to do with finance or the economy with this government employee. I kid you not, that is what he says he is!
59 DanyBerger (#) Apr 27th, 2013 - 02:42 am Report abuse
@yankeeboy

“I don't see what your point is?”

The point is that USA is completely broke and the size of its external debt is bigger than its GDP plus a faster growing Internal debt that went from 67.8% in 2011 to 80% in 2013.

The total current debt of USA its 12 Trillions (internal) + 16 trillions (external)= U$s28 trillions dollars

So not even Captain Kirk will save your sinking ship because its the Titanic in the first stage of the crash before collapse.

“I'm considered middle class, I'm doing fine and I don't expect it to change anytime until I retire.”

Well I hope you retire ASAP because your expectation will not last so long...
60 yankeeboy (#) Apr 27th, 2013 - 12:43 pm Report abuse
Chris, based on the delusional comments of the posters on this board it is very clear none of them understand economics.
It is quite astonishing
I wonder what they teach them in school

10/1 in May?
Probably
Maybe more
61 ChrisR (#) Apr 27th, 2013 - 03:28 pm Report abuse
60 yankeeboy

I am going with 'Maybe more'.
62 DanyBerger (#) Apr 28th, 2013 - 02:27 am Report abuse
@YankeeBobo

Still you didn’t explain how sinking US ship is going to pay back the U$s28 trillions dollars and liabilities.

Any idea?

BTW why mots of your numbers are so in red?
www.usdebtclock.org/

That looks pretty bad. Isn’t it?
63 yankeeboy (#) Apr 28th, 2013 - 02:37 pm Report abuse
Chris, Next week will be telling. I was looking at hotel rates because I might be due for another trip to BA and the hotel I usually stay in is priced at 50% of what I paid last year.
Which means paying in cash with U$ will be like almost staying for free!
I may give it another month or 2 to see how this pans out. I have a feeling it is going to get ugly really fast.
64 ChrisR (#) Apr 28th, 2013 - 04:28 pm Report abuse
63 yankeeboy

If you do go I hope you will be able to take 'something' with you as a little equaliser, if you know what I mean.

We wouldn't want to lose you to some nutter like 'Gorgeous Toni' and his band of thugs.
65 MagnusMaster (#) Apr 28th, 2013 - 06:01 pm Report abuse
@60 “Chris, based on the delusional comments of the posters on this board it is very clear none of them understand economics.
It is quite astonishing
I wonder what they teach them in school”

Most economists on the media and even universities are bought by the government and support government policies. My economy professor at university even claimed that Mercedes Marco del Pont was right when she said that monetary emission doesn't cause inflation and even agreed with the dollar clamp claiming that it would encourage people to spend pesos and help the economy!
66 ChrisR (#) Apr 28th, 2013 - 10:00 pm Report abuse
65 MagnusMaster

Well, he and she were correct weren't they? ONLY JOKING.

After let downs which cost me real money listening to 'economists' I now do the research myself and make my own decisions on what I invest my money in.

It may be a fluke but I am doing much better this way.

May I ask a question please. I was talking to a young married Argentine couple three weeks ago and it turned out that he had a degree in electronics from Maryland University. When I said it seems that most people on the net who go to BsAs University think they are getting the best education in the world why did he go to Maryland he just laughed? He then said that he wanted to get a good job and he would not even think about having ANY degree from Argentina. You obviously do not agree, why is that?
67 MagnusMaster (#) Apr 29th, 2013 - 12:05 am Report abuse
@65 yes, economics is one of those quackery sciences, like most social sciences. Psychology is the only social science that is perhaps as bad as economics. I'm not saying that there isn't any actual science there but there are way too many quacks.

As for why I'm on an Argentinian university, I don't plan on emigrating unless my life is at risk. I'd rather be miserable in Argentina than treated like subhuman garbage in USA, or even worse, Spain. There's also the fact that if I go to USA I would get morbidly obese due to all the cheap but delicious junk food there.
68 ChrisR (#) Apr 29th, 2013 - 01:32 pm Report abuse
67 MagnusMaster

You could of course go to the UK; most people have never heard of Argentina and very few have any problems at all with Argentines as they are far preferable to the Islamist bombers! Just joking.

There is still plenty of junk food available though, but the restaurants are pretty good in most cities.

I can only encourage you to visit the UK if you have not already done so and I am confident you will enjoy it immensely. You will most certainly NOT be “treated like subhuman garbage”.

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