MercoPress. South Atlantic News Agency
Brazil unveils US$ 20bn credit plan to revive economy; 'raid' on workers' pension funds
Brazil will release 83 billion reais (US$20.4 billion) in new credit from state-run banks for farmers, builders and other businesses suffering in a shrinking economy, resuming stimulus efforts it had largely eschewed in last year's austerity drive. Read full article
Comments
Disclaimer & comment rulesSo 'raid' = 'theft' - no?
Jan 29th, 2016 - 06:01 am - Link - Report abuse 0DumbAss Dilma is really panicking now.
Jan 29th, 2016 - 10:57 am - Link - Report abuse 0How many times have pensions been robbed (PBR) and how many times has she fucked Mr. Market about? Three to my knowledge.
So Mr. Market is going to get his revenge again!
The Brazil Nuts just don't get public management of the economy.
Argentina did the same thing a few years ago.
Jan 29th, 2016 - 12:27 pm - Link - Report abuse 0It didn't work
and
wont work now
Silly Marxist Monkeys need to get out of there before they make it even worse.
Aside from the 'raid' be tantamount to ransacking part the workers collective pension funds, what's going to happen when they can't put the money back ?
Jan 29th, 2016 - 03:04 pm - Link - Report abuse 0Also, with an already heavily indebted population, who is going to buy all these new homes ? Considering that last year - 2015 - 41% of all new homes purchased during the year, were returned to the banks due to lack of payment.
This policy will not stimulate the economy, instead it will make it sink further, with the aggravation that when more workers lose their jobs, their safety-net will have been compromised by this wonderful government.
Instead of stealing from the workers' funds; the govt. should cut-down the excessive “benefits” to the politicians / officials and make the corrupt return the stolen billions. This crisis will then disappear OVERNIGHT!
Jan 29th, 2016 - 04:10 pm - Link - Report abuse 0President Dilma guarantees that would not let the dollar fall below R$ 3.80.
Jan 29th, 2016 - 07:59 pm - Link - Report abuse 0It seems that Brazilians are bringing billions of dollars from abroad. Coupled with the dollar inflows from exports, the real risks to value again. Only today the dollar lost 1.4% of its value.
The Central Bank must be aware until the Bank of BRICS replace SWIFT and de-dollarize our trade.
https://www.youtube.com/watch?v=Uz19WpkTM08&index=22&list=FLmXPTu1f8AdGlizWNiASx2A
Brasileiro as usually got it wrong.
Jan 29th, 2016 - 10:23 pm - Link - Report abuse 01 real = US$
21 November 2015: 0.2696
29 December 2015: 0.2587
28 January 2016: 0.24553
29 January 2016: 0.24397
“The government plans to tap at least 32 billion reais from the workers' pension fund known as FGTS”
Exactly what the kirchneristas did to the Argentine pension fund, which now contains nothing but a pagaré (IOU) signed: Anonymous.
All one can say is:
https://www.youtube.com/watch?v=tjBCjfB3Hq8&t=2m36s
http://economia.uol.com.br/cotacoes/
Jan 29th, 2016 - 10:54 pm - Link - Report abuse 0Or the Saxons are stupid or lunatics ...
Can you see the top bar on the page?
http://economia.uol.com.br/cotacoes/
* Brasshole,
Jan 30th, 2016 - 12:59 am - Link - Report abuse 0Anytime a government raids a pension fund to fund whatever is bad whichever way you cut it.
Dilma is out of options and no one wants to invest while the corrupt cronies are still in power.
Then explain why Brazil received US$ 75 billion in FDI in 2015 !?
Jan 30th, 2016 - 03:08 am - Link - Report abuse 0Straight from the CFK play book
Jan 30th, 2016 - 05:50 am - Link - Report abuse 0@6 B R a s s h o l e
Jan 30th, 2016 - 05:34 pm - Link - Report abuse 0You are a disgusting L I A R. First of all, Dilma would just love the value of the Dollar to drop to R$ 3,80, and below....but she - and Barbosa - have no idea how to make this happen under the current circumstances. The only things that will contribute to reducing the value of the Dollar internally, against the Real, are massive foreign investments in production, and continued yearly superavits in foreign trade (exports) ; We all know that neither will happen anytime soon. Even the measly superavit of 2015 was only obtained at the cost of dwindling imports.
As to your claim that Brazilians are already bringing in Billions from foreign accounts, it is pure bullsh*t. Regardless of the fact that the Law was only signed 2 weeks ago, I don't see wealthy Brazilians bringing back one cent to Brazil ; why would they ? Besides becoming targets in future investigations by the (Brazilian) IRS, the money left abroad is a safety-net for the shit that always happens internally.
The USD dropped 1.4% ???? BIG deal....after being devalued by more than 50% in one year, what's 1.4% ? keep on dreaming and spouting crap, you ignorant moron.
Any day now they're going to start using the meager reserves to support the Rial.
Jan 30th, 2016 - 08:47 pm - Link - Report abuse 0Watch them start blowing through saving like the Chineses.
@13 astounding. Kleptocracy since Lula. Lots of pt need to steal to buy their way out of jail.
Feb 03rd, 2016 - 10:37 pm - Link - Report abuse 0Commenting for this story is now closed.
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