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Populist Policies Let Brazil’s Tomorrow Slip Away
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The commodities boom allowed Brazil under president Lula to commit to heavy state spending, subisidies, protection of favored sectors with large tariffs, that led to inefficiency and high debt. The policies continued under president Rousseff. Corruption scandals in the latter part of the Lula administration led to more populist policies for the Workers Party to stay in power, says Porter. Compared to Mexico and Chile, Brazil and Argentina under presidents Lula and Kirchner moved in the direction to closing up their economies to trade and foreign investment that would make corporate sectors more competitive and less dependent on the state for subsidies and favors. Mexico's economy other than the automobile sector is struggling, as mismanagement also plays a part as with the handling of Pemex and huge capital injections needed. Mindfulness and thoughtfulness is needed in setting policy direction, aware of the risks free of illusions about rosy scenarios, knowing that ideology plays less of a part than exercizing good judgement.
Brazil's 3.8% decline in GDP in 2015- worsening economic and political crisis
03/03/2016
Grouped Articles
Brazil’s President Rousseff, Facing Impeachment Effort, Is Deluged by More Bad News
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Populist Policies Let Brazil’s Tomorrow Slip Away
New York Times 05/03/2016
A Geographic Shift in Brazil Mining Leaves a Storied Region Hurting
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Street protests in Brazilian cities in 2013 over poor condition of transportation, health, education and public services
05/21/2011
Protests in Brazil with 1% economic growth in 2012 and 6% inflation. Protesters complained about the poor condition of transportation, health, education and public services with government spending focussed on the World Cup and Olympics. The protests started with demonstrations against increase in transportation fares and surged as police used tear gas to disperse demonstrators.
Grouped Articles
Thousands Gather for Protests in Brazilâs Largest Cities
New York Times 06/17/2013
Anger Spills Onto Brazil's Streets
Wall Street Journal 06/18/2013
Brazil's north-east: Catching up in a hurry
Economist 05/21/2011
Middle-Class Brazil Finds Its Voice in Protests
Wall Street Journal 06/19/2013
Brazil, Fortune and Fate Turn on Billionaire
New York Times 06/23/2013
Brazil's President Offers Referendum
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The legacy of Dilma Rousseff and the way forward for Brazil in 2017
04/29/2016
The boom years of the Lula administration supported by high commodity prices covered up serious problems in infrastructure, basic public services, education and health care. The collapse of commodity prices exposed real weaknesses in Brazil's economic structure. With this came a realization of the deep seated corruption of the ruling elite.
Grouped Articles
Economist 04/29/2016
Populist Policies Let Brazil’s Tomorrow Slip Away
New York Times 05/03/2016
Conservative’s Star Rises in Brazil as Polarizing Views Tap Into Discontent
New York Times 05/07/2016
Brazilian President Rousseff’s Downfall Was Years in the Making
Wall Street Journal 05/12/2016
Brazil Workers’ Party, Leaders ‘Intoxicated by Power,’ Falls From Grace
New York Times 05/12/2016
Brazil Police Recommend Ex-President’s Indictment on New Corruption Charges
WSJ 10/05/2016
Eduardo Porter on how extremes are dangerous- populist policies failed to help the very people they were intended to help in Brazil, just as populist mortgage policy and extremes of free market deregulation hurt the American middle and working class
05/03/2016
Eduardo Porter of the NYT reflects on what happened in Brazil in chaos after soaring popularity of Lula as long as the commodities boom lasted, with no real foundations. The extremes of populist policies and of free markets without mindfulness of the risks can be dangerous to the livelihoods of the vast majority of people in the Americas. As Brazil struggles, Mexico with the opposite model struggles from lack of good management, Argentina emerges from decades of experimenting with extremes in either direction, and the U.S. mulls over its future direction in the general election of 2016, there is a moral for the Americas extremes without mindfulness are dangerous. Cruz and Sanders offer different versions of direction. Cruz and Sanders a version of policies too far in one direction, Trump channeling anger but lacking any clear statement of policy. The fate of nations and peoples hangs in the balance- needed is mindfulness and thoughtfulness in taking the path forward, clear of illusions that it will be easy going forward from mistakes in the past.
Grouped Articles
Populist Policies Let Brazil’s Tomorrow Slip Away
New York Times 05/03/2016
Brazil Workers’ Party, Leaders ‘Intoxicated by Power,’ Falls From Grace
New York Times 05/12/2016
What Donald Trump Learned From Joseph McCarthy’s Right-Hand Man
The New York Times 06/20/2016
US election: Anger over Donald Trump gun rights remarks - BBC News
BBC News 08/10/2016
Brazil Police Recommend Ex-President’s Indictment on New Corruption Charges
WSJ 10/05/2016
Donald Trump Takes Conciliatory Tone at Postelection Rallies
WSJ 12/16/2016
Economic policy errors in Russia and Brazil
05/03/2015
Brazil raises interest rates to over 13%, as it faces critical needs of private companies financing dollar based debt. This is likely to lead to further economic contraction and higher inflation. Inflation is at over 8% in 2015. Russia lowered the high interest rates ratcheted up to 17% to tackle a ruble collapse in 2015. Interest rates were lowered to but this move also aggravates inflation which is now at close to 17%.
Grouped Articles
Russia, Brazil Mistakes Show How Inflation Can Still Arise
Wall Street Journal 05/03/2015
Changing Course, Russia Will Sell Rubles Instead of Buying
New York Times 05/14/2015
Learning the lessons of stagnation
Economist 06/30/2015
How Brazil’s China-Driven Commodities Boom Went Bust
Wall Street Journal 08/28/2015
Brazil’s Finance Minister Replaced
New York Times 12/18/2015
Putin’s self-destructing economy - The Washington Post
Washington Post 01/18/2016
Winners and losers in emerging markets in 2015 with lower oil prices- Turkey and India are winners, China a beneficiary, Russia, Venezuela and Brazil are losers
01/18/2015
The economic prospects of emerging market countries have changed significantly since 2013. In Turkey political problems and a high current account deficit led to a slump in the lira and high interest rate policies by early 2014. In India the Congress party government let the economy drift in 2013 with no action taken. The newly elected Modi adminstration in 2014 and now lower oil prices are giving a major boost to economic growth in India. China with huge oil imports is also a beneficiary as it tackles problems from the boom years and growth slows to below 7%.
Grouped Articles
Turkey’s economy: Saved by the well
Economist 01/18/2015
Monetary policy in India: The cycle turns
Economist 01/18/2015
Oil Prices Slump as Inventories Rise Near 80-Year Highs
Wall Street Journal 02/05/2015
India Growth Rate Set to Rival China
Wall Street Journal 02/10/2015
Turkish Officials Seen Stoking Crisis as Lira Hits Record Low
Wall Street Journal 03/05/2015
A Windfall for China as Commodity Prices Plunge
Wall Street Journal 03/16/2015
Latin American economies Peru, Chile, Colombia, Brazil, and Mexico as the commodities boom cycle fades in 2013-2015
05/06/2010
Commodities exports make up about one fifth of output in Peru and Chile. Slowdown in growth in China will affect exports of copper and other metals. Brazil's growth faces additional hurdles with low investment rates, poor infrastructure and other problems. This in turn affects companies ranging from beer producers to other companies depending on sales in the region.
Grouped Articles
Latin America Boom Starts to Fade
Wall Street Journal 05/30/2013
No Ticker Tape Parade for Brazil's Currency Heroes
Wall Street Journal 06/06/2013
Thousands Gather for Protests in Brazilâs Largest Cities
New York Times 06/17/2013
Anger Spills Onto Brazil's Streets
Wall Street Journal 06/18/2013
Brazil, Fortune and Fate Turn on Billionaire
New York Times 06/23/2013
Brazil’s disappointing economy: Stuck in the mud
Economist 06/27/2013
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