Brazil Turns Into Junk, Prez Blames "white people with blue eyes"

[singular_me]

but brazilians hope that the olympic games will save them from inflation... greeks thoughts that too, and later found out that they went further into red ink

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Brazil reduced to junk as BRICs facade crumbles
12th September 2015
http://www.davidicke.com/wp-content/uploads/2015/09/brazil-protest_3236316b.jpg

‘Brazil’s currency has plummeted to an all-time low and borrowing costs have tightened viciously after Standard & Poor’s slashed the country’s debt to junk status, warning that the budget deficit has reached danger levels.

The downgrade is a painful blow to a nation that thought it had finally escaped the Latin American curse of boom-bust cycles and joined the top league of rich economies.

It is the second of the big emerging market (EM) economies to be stripped of its investment grade rating this year after Russia crashed out of the club in January. Little remains of the BRICS allure that captivated the world seven years ago, and now looks like a marketing gimmick.
http://www.telegraph.co.uk/finance/currency/11857174/Brazil-reduced-to-junk-as-BRICS-facade-crumbles.html
and
http://www.nytimes.com/2015/09/11/world/americas/brazils-economic-crisis-intensifies-raising-pressure-on-president.html?_r=0

2013

https://www.youtube.com/watch?v=6qDDGD8B_8s


Published on Aug 22, 2015
There is growing anger against Brazil's government, hit by a worsening economic situation, a massive corruption scandal and boycotts to austerity measures in Congress. Many are calling for the impeachment of President Dilma Rousseff, who is only eight months into her second mandate, but currently there is no proven legal basis for that. Even Brazilians have a hard time explaining how the situation grew into such an imbroglio - so the BBC's Julia Carneiro in Rio put together a glossary of the key words to understand what the crisis is about - involving dribbles, car washes and even chicken snacks.

https://www.youtube.com/watch?v=UHb1XRUF6dw


Brazilian President Blames Financial Crisis on "white people with blue eyes" (2009)

https://www.youtube.com/watch?v=PZIksV8bhiY


BRAZIL: WORLD CONCERN OVER COUNTRY'S ECONOMIC CRISIS (07/2015)
https://www.youtube.com/watch?v=lM_jPLXlCrY


Economic crisis shuts small shops in Rio de Janeiro
https://www.youtube.com/watch?v=qo6SlHSSqvg

[mick silver]

the world always cleans itself and time is closer then we all would like , the day is coming

[Mozart]

And yet Brazil is holding to 256 billions in worthless US treasuries

http://www.treasury.gov/ticdata/Publish/mfh.txt

[Neuro]

And yet Brazil is holding to 256 billions in worthless US treasuries

http://www.treasury.gov/ticdata/Publish/mfh.txt
A you scratch my back I scratch yours with federal reserve bank? It would just look awful if money was created to finance the budget deficit of your own country... Now Brazil looks awful so the USD strengthens, because U.S. appears slightly less awful.

[Twisted Titan]

He should have finished his statement with hooked noses and black skull caps.

Close but no cigar.

[Horn]

Next the Brazilian president will run for office in a spiderman suit.

Cause with great power comes No Responsibility...


http://m.youtube.com/watch?v=yraIaeMBbj0http://m.youtube.com/watch?v=yraIaeMBbj0

[singular_me]

no u-tun but downward spiral
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A Panicked Brazil Promises Billions In Austerity, Does 180 On Budget After Downgrade
15th September 2015

Exactly two weeks after conceding that a primary surplus was no longer in the cards after budget data in July came in meaningfully worse than expected, Brazil is scrambling to restore some semblance of confidence in the government’s ability to close a yawning budget gap by implementing austerity even as political turmoil has made embattled FinMin Joaquim Levy’s life a living hell of late.

On the heels of a painful S&P downgrade, Brazil now says it plans to enact some BRL26 billion in primary spending cuts for the 2016 budget on the way to achieving in a primary surplus that amounts to 0.7% of GDP.

In other words, a complete 180 from what the government said prior to the downgrade.’
http://www.zerohedge.com/news/2015-09-14/panicked-brazil-promises-billions-austerity-does-180-budget-after-downgrade

[Horn]

Most of the proposed adjustment will come from higher taxes; particularly from the reinstatement of the controversial Financial Transactions Tax at a rate of 0.2% which is expected to yield a substantial R$32bn.



And of course he will fall well short of collecting anywhere near the 32bn. yeah is another Greece.

Count them out of any BRIC banking alliance.

[Neuro]

Exactly two weeks after conceding that a primary surplus was no longer in the cards after budget data in July came in meaningfully worse than expected, Brazil is scrambling to restore some semblance of confidence in the government’s ability to close a yawning budget gap by implementing austerity even as political turmoil has made embattled FinMin Joaquim Levy’s life a living hell of late.

Poor guy, coincidence?