MercoPress. South Atlantic News Agency
Brazil's electoral authority investigating funding of Rousseff's presidential campaign
The vice-president of Brazil’s TSE electoral authority has asked for an investigation of President Dilma Rousseff’s 2014 re-election campaign, citing evidence that it may have been financed with money from a corruption scheme at state-run oil firm Petrobras. Read full article
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Disclaimer & comment rulesTic tock...........I think the wind started blowing and the bough she rocks in is about to break.
Aug 25th, 2015 - 02:53 pm - Link - Report abuse 0Where's the brasshole at?
http://www.theguardian.com/sport/2015/jul/30/athletes-at-rio-olympics-to-compete-in-basically-raw-sewage-study-reveals
Aug 25th, 2015 - 04:32 pm - Link - Report abuse 0It's going to be a delightful Olympics
Brasshole is hiding under his rock and praying for Saint Lula to make a comforting statement to the BRICS worshipers...
Aug 25th, 2015 - 04:54 pm - Link - Report abuse 0Meanwhile, it looks like dark clouds for all of us in Latin America, including Chile... China is our largest buyer of copper, fortunately we have diversified our economy as well as having an excellent economic situation. We should be able to ride out the storm. Argentina and Brazil are in serious trouble and Venezuela... well the rioting and looting for bags of rice are about to commence.
Brazil allowed its Lula and Dilma guided corrupt politicians to steal the rich country's untold wealth leaving the country in squander. At least they can still feed themselves...
@3 Isn't the US your second largest buyer of copper? YB is confident they will be unaffected by this situation so I would not worry too much. And, fortunately, Chile has diversified and trades with around 50 countries, I believe. This will focus more attention on other products and that can't be a bad move.
Aug 25th, 2015 - 07:48 pm - Link - Report abuse 0Brasileiro is busy helping Dilma find a fall guy.
Aug 25th, 2015 - 08:55 pm - Link - Report abuse 0Elaine
Aug 26th, 2015 - 03:31 pm - Link - Report abuse 0Yes, about 23% of our copper goes to the US.
Copper provides us 20% of our GDP and 60% of our exports.
Chile’s economy was expanding by nearly 6% annually, while inflation and unemployment were enviably low. Unfortunately, copper prices have fallen by half in the past three years and the new investment tax laws instated by the Bachellet administration have brought that to nearly a halt.
Chile has many other strengths, including a wide range of other minerals (such as gold and lithium), agriculture, wine, forestry, fisheries, tourism and even some high-tech ventures. We'll survive because we have a strong independent central bank, low debt an an excellent credit rating.
Still, we depend on copper as our primary source of income.
Elaine, The reason I say it will have a negligible affect on the USA is because we only export 9% of our GDP most of that going to Canada, Mexico another chunk to the EU. The tiny bit that goes anywhere else is irrelevant.
Aug 26th, 2015 - 04:22 pm - Link - Report abuse 0This China implosion is going to hurt people that sell to China or are heavily invested.
We are neither.
China tried very hard to get FDI by harranging the IMF to make their currency a reserve currency. That isn't going to happen anytime soon.
They also thought when they opened their bond market they'd have Intl interest.
That didn't happen.
They don't what to do.
There was never a Chinese “miracle”
They took desperately poor people into a low low middle class
The upside is over
They've done all they can.
They were only the hands of production.
Now they're too expensive and it was always too far away.
USA factories that are there will make stuff for their internal market and other Asian which could be big one day. They won't ship much back to the USA.
It has now been admitted in the mainstream press something that was fairly obvious: their foreign capital holdings are nowhere near as large as the Chinese allowed claims by the market.
Aug 26th, 2015 - 06:41 pm - Link - Report abuse 0That will unravel a lot of plans to deal with this crisis, because crisis is what it is.
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