BRICS who?
Didn’t Obama guarantee a $2 billion federal loan to Petrobas a few years back? I seem to remember there was some Soros connection, too...
Lula was the previous president, a socialist. She appointed him to her cabinet and phoned that fact to him. The phone call was bugged by a corruption investigation.
A minister can only be charged and tried in the Brazilian Supreme Court, not in the regular venues. So her act gave him an immunity from corruption charges.
The irony: When Lula was a younger socialist/communist, he supposedly said: “When a poor man steals, he goes to jail; when a rich man steals, he becomes a minister.”
Self-prophetic.
Brazil is a socialist, progressive nanny-state. Government controls most economic decisions.
Corruption and rent-seeking is the unavoidable result. there is no way around it.
The USA is not that different, except for one big difference - we can produce massive debt in our own currency, and the world must accept it, for now anyway.
Was it Churchill who said “Brazil is the economic powerhouse of the future, and always will be”?
The Olympics start in Rio in a couple of months and almost nothing will be ready. This will be worse than Athens. The water is so polluted and dangerous, that many top athletes are considering not competing. Crime is so rampant near some of the construction sites that workers are refusing to go there.
Brazil is in shambles, and Lula (the former President who was being shielded by the current President) was a major part of its current crisis.
How refreshing.
It's going to get worse!
Among other problems, Brazil has some seriously filthy bodies of water, wide open to the public. Brazil has known about the polution for quite some time, but has no EPA equivalent with the same power. I find it surprising that so many American Olympic contestants have decided to ‘just not dwell upon’ the dangers. Oh, and then there’s that new Zika thing too.
Brazil has the world’s first first sustainable biofuels economy (ethanol). As we can see that’s working out just great for them. /s
Brazil made their economy all about Commodities and exports to China. You live by the sword you die by the sword.
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Isn’t Petrobras the Brazilian company that Obama gave several billion dollars to so that it could drill and frac off shore?
Aka fundamental transformation...
Hope they enjoy their Olympics.