Counting the Cost - The rise of Latin America

A special in-depth look at Latin America and the issues behind its economic success story.

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[leeo268]

Nice to see some positive news to conclude the year.

[RafaelFernandeSantos]

@s BR didn't break down after 73. It went through a slowdown, moron. Still, in the 74-80 period, growth averaged 7% a year, far more than what you American rogues have had since WW2. What a proof you're indeed talking out of your ass and know nothing about our history. Based on my own father's life, I know the middle-class didn't die out after that; instead, it just ceased expanding. The bulk of the 80s hardships were sustained by the urban working classes.

[RafaelFernandeSantos]

@s "the right amount of money on the right things" -> Do you think spouting vague platitudes make you seem smart? Tell me, what's the right amount and the right things? Those things' definitions are a given. And yes, BR's economic miracle may have been shortlived, but it's widely known it ended on account of external events - the 1973 oil price shocks - not b/c of internal imbalances, as your moronic "critique" of DN (whom you probably didn't even know b4 I mentioned) implies.

[schlagerhansi]

@RafaelFernandeSantos

Whoever told you to buy US Treasury junk bonds?

Still, in the past they were always safer than Brasilian paper money, or bonds, always prone to be devaluated, as I said before.

Whenever I came to Brasil, I was happy to have US-$ in my pockets, and so were the Brasilians who could buy some of them from me.

What about paying you back in cruzeiros, or cruzados, or whatever it was, of 1980?

[schlagerhansi]

@schlagerhansi

(cont.)

than the Italian "economic miracle" shortly before was.

Shortly afterwards, the economy broke down, inflation and devaluation (how many devaluations did you have? I lost count!) destroyed the middle class, I know many Brasilians who lost almost everything, and I know it from persons, not from books, I've seen it with my own eyes, probably before you were born.

[schlagerhansi]

@RafaelFernandeSantos

Calm down. Netto was an egghead, and eggheads almost never -- the one and only remarkable exception being Salazar -- know how to run a country's finances, because they always tend to extreme doctrines, i.e. either "deficit spending" or "saving". That's easy to do, but it doesn't work. You have to spend the right amount of money on the right things, and how should a professor know? What you call Brasil's "economic miracle" was short-lived, even shorter

[cpbbailz]

no other county uses the central bank to fund public sector expansion? Correct me if I'm wrong but that sounds like the US..

[RafaelFernandeSantos]

@schlagerhansi (Cont. 5) Do you, btw, what's the main form of FDI in Brazil? it is foreigners buying up national assets. That is, most often, foreign capital isn't introducing new products or technologies. It is buying up pre-existing ones. Btw, I have the impression you're talking out of your ass. The main US aid programs in Latin America didn't even exist during FDR's time, but rather in JFK's, and Brazil's economy only had problems with foreign loans in Reagan's times. Moron.

[RafaelFernandeSantos]

@schlagerhansi (Cont. 4) Sure, FDR just gave some billion dollars, haha, where did you take your shitty history classes? And btw, industrialization only became associated with foreign capital during Kubitschek's regime: FDR was long dead by then, moron. It's not abnormal for industrialization to be associated with foreign investment: see China. Be that as it may, such an imbalance was corrected during the military regime. In 1969 TNCs account for 28% of our GDP; in 1985, only 8%.

[RafaelFernandeSantos]

@schlagerhansi (Cont. 3) Oh, you wanna us to be more prosper? Tell your Treaury to pay back tyhe 200 bn dollars it owes our CB. I'm not comfortable with Brazilian taxpayers funding the deficits of a rogue state.

[RafaelFernandeSantos]

@schlagerhansi (Cont. 2) And btw, things aren't different now; net exports keep weighing DOWN on our economy: this is shown by the numbers proving consumption and capital investments are our sole growth engines, the hyped gas and oil findings hype notwithstanding. There's even a S&P on how net exports have weighed down on us since 2006, as capital investment picked up and the currency became more expensive.