Brazil on the brink of financial default, points out the Financial Times

Thursday, January 28th 2021 - 09:42 UTC

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Brazilian president Jair Bolsonaro has been s skeptical of the coronavirus pandemic and the effectiveness of different vaccines to contain it, arguing that the economy, jobs and activity, were the priority above sanitary recommendations. As a result of this approach, his administration's federal spending jumped almost 40% between January and November, according to the Institute of International Finance. And Bolsonaro had even admitted the country is “broke.” Read full article

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FortHay
“A move which lifted beer sales. . .” Nice ! I have little doubt that this is an accurate correlation. It shows, once again, how these types of short sighted ruinous government interventions have little or no retentive value. If Brazil defaults, it will have profound effects on the already fragile social structure of the country. The thin former elite in Venezuela now pays the piper. The Brahmins of Brazil have a similar account balance.
Jan 31st, 2021 - 10:48 am - Link - Report abuse 0
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