MercoPress. South Atlantic News Agency
Brazil’s Mantega admits ‘mini-crisis’; blames the US Fed confusing messages
Brazil's economy is going through a “mini crisis” stemming from global markets turbulence made worse by confusing messages from the US Federal Reserve, complained Finance Minister Guido Mantega. Read full article
Comments
Disclaimer & comment rulesBrazil you should have reformed during the boom years.
Aug 27th, 2013 - 10:22 pm - Link - Report abuse 0But you didn't and now you will have to reform during the bad years.
Just ask Europe how good that feels.
1 Reformed what? First the real was overvalued and now so called undervalued. Brazil needs to continue to invest in infrastructure. It is being done but more needs to be done.
Aug 27th, 2013 - 11:47 pm - Link - Report abuse 0Europe did what?? Reform? European leaders continue to drink the kool-aid while bail out the zombie banksters and pretend everything is fine. Europe is finished unless they let the zombie banks go and just get the F out the Euro project that was designed to fail and go back to local currencies and government central banking control...not private (ECB is a private central bank and so is the “federal reserve” that does not answer to the people but to it's shareholders..yes, the same zombie banks who are dead/broke)
This guy does stand up comedy consistently well
Aug 28th, 2013 - 12:37 am - Link - Report abuse 0“ blames the US Fed confusing messages ”, now where have I heard that before? Blaming others for their problems, let me think ? Coundn't be Argentina, could it?
Aug 28th, 2013 - 02:04 am - Link - Report abuse 0What is it with Latam countries that cannot admit their mistakes.
We had so much hope for Mantega - an Italian jew who grew up in Brasil, with degrees in Economics as well as Sociology (a real PhD) from USP.
Aug 28th, 2013 - 05:52 am - Link - Report abuse 0But it seems the sociology has dominated over the economics (except that his leadership of BNDES resulted in him giving to the big industrial beasts rather than the SMEs that really needed his development funding).
Probably just not up to the job.
It shows that a degree in Economics does not confer automatic success in the leadership of countries.
Brazil now has “mini crisis, mini inflation, mini recession”... The only big thing here is Widespread Corruption.
Aug 28th, 2013 - 06:57 am - Link - Report abuse 0What is with fido dido's “Kool-aid” obsession?
Aug 28th, 2013 - 08:40 am - Link - Report abuse 0He mentions it in almost every post me makes.
It's weird.
Mantega out doing what he does best: lying.
Aug 28th, 2013 - 08:55 am - Link - Report abuse 0There is no “record-high foreign reserves” and most certainly no “low public debt levels ” if he bothers to look at his own speeches of late and the data being put out to the media.
GeofWard2
I am sure you have seen the old definition of economists: put six economists in a room and give them a problem to solve - you will end up with twelve “solutions”. How true that is.
@7 Condorito
Aug 28th, 2013 - 09:03 am - Link - Report abuse 0Obviously he was Jim Jones in a previous life.
Guido Mantega is correct. He taxed the entry of speculative capital on time. He saved our industry and primary sector protecting our currency money from a excessive valorization. The Brazil bought many cheap dollars, increasing our national debt. Now, Brazil sell expensive dollars, to stop speculation. And our national debt falls down the drain. Good!
Aug 28th, 2013 - 11:03 am - Link - Report abuse 010 Brasileiro
Aug 28th, 2013 - 01:00 pm - Link - Report abuse 0I should rethink that little “missive” if I were you.
What your vision?
Aug 28th, 2013 - 02:03 pm - Link - Report abuse 0Mantega is an idiot, and so are the Brazilians who still admire him. Rodrigo Constantino, another Brazilian economist, has carefully explained some of his stupid mistakes: http://veja.abril.com.br/blog/rodrigo-constantino/tags/mantega/
Aug 28th, 2013 - 02:19 pm - Link - Report abuse 0The Federal Reserve Bank throught its Quantitative Easing programs has been “buying” U.S. government Treasury Certificates at the rate of 85 billion dollars per month. Obama fostered this policy by insisting that the bedrock economic logic would be manifested in a “jump starting” of the economy and produce enough “shovel ready” jobs to lift the country out of the doldrums. He has doubled the national debt which was already staggering. Brazil, China and the EU countries are bewitched bothered and bewildered at the FED's policy but not for the reasons you'd think. They want the, yes, printing of money and increasing of debt to continue! I'd say analogies with a certain sugary drink whipped up in batches at Jonestown Guyana are appropriate.
Aug 28th, 2013 - 02:46 pm - Link - Report abuse 0Fido!! What's the story sister?? So, based on your infinite knowledge of all things Brazil, how is the infrastructure investment thing going there? You know, based on the last time you were there. You have been there right Fido? If so, feel free to expound on your comments on Brazilian infrastructure based on your “boots on the ground” investigation.
Aug 28th, 2013 - 05:27 pm - Link - Report abuse 0@ 13
Aug 28th, 2013 - 05:38 pm - Link - Report abuse 0I thought you were Brazilian. But you're just a PSDB subscriber to VEJA.
Burro!
@16:
Aug 28th, 2013 - 07:29 pm - Link - Report abuse 0I am Brazilian, but I am also a proud libertarian, which means that I despise all leftist parties, including the PSDB. And “burros” are those who still believe in the present Brazilian government.
Mantega is so yesterday! blaming the US won´t help their economy one bit. What Dilma needs to do is to dump this failed finance minister.
Aug 28th, 2013 - 07:31 pm - Link - Report abuse 0Commenting for this story is now closed.
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