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Brazil Posts Largest Budget Deficit Ever As Rousseff Cries “Coup,” Olympic Ad Sales Top $1 Billion

Brazil Posts Largest Budget Deficit Ever As Rousseff Cries “Coup,” Olympic Ad Sales Top $1 Billion On Tuesday, embattled Brazilian President Dilma Rousseff was dealt a bitter blow when PMDB – the party of VP Michel Temer and House Speaker Eduardo Cunha – officially left the coalition government. “Dialogue, I regret to say, has been exhausted,” Tourism […]

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Hundreds Of Thousands Stage Massive Street Protests In Brazil, In Loud Call For Rousseff’s Ouster

Hundreds Of Thousands Stage Massive Street Protests In Brazil, In Loud Call For Rousseff’s Ouster Back in August, we said that while there are all kinds of charts one could look at on the way to judging just how bad things have truly gotten in Brazil, the most important graphic of all may indeed be this one, […]

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Brazilian Real Crashes Most In 4 Years As Hope Fades

Brazilian Real Crashes Most In 4 Years As Hope Fades Following recent strength on the heels of hope for a new finance minister, news that Ruosseff has sent the minimum-wage-hike Bill to Congress appears to have crushed the hype of any fiscal rectitude and sent Real tumbling. Down over 4% – the most since September 2011 […]

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A Hapless Brazil Incurs Massive Losses On FX Swaps Amid Currency Carnage

A Hapless Brazil Incurs Massive Losses On FX Swaps Amid Currency Carnage As we’ve documented extensively of late, a host of idiosyncratic political factors have served to exacerbate what was already a very, very bad situation for emerging markets. This dynamic is most readily apparent in Brazil and Turkey, and although Ankara probably has a […]

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Brazilian Nightmare Worsens On Bad Budget Data, Record Low Confidence, Horrific Government Approval Ratings

Brazilian Nightmare Worsens On Bad Budget Data, Record Low Confidence, Horrific Government Approval Ratings Last month, in “‘No Recovery For You!’ Brazil Officially Enters Recession, Goldman Calls Numbers ‘Disquieting’”, we outlined Brazil’s July fiscal performance and came away believing that the country had little chance of hitting its primary fiscal surplus targets. Here’s what we […]

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Brazil’s Economy Is On The Verge Of Total Collapse

Brazil’s Economy Is On The Verge Of Total Collapse Back when the BRICs were the source of marginal global growth, the punditry couldn’t stop praising them. However, in the past year, now that China’s housing bubble has burst and its shadow banking system has imploded, those who remember what BRIC actually stood for are about […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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