{"id":5952,"date":"2015-02-24T06:40:41","date_gmt":"2015-02-24T11:40:41","guid":{"rendered":"http:\/\/olduvai.ca\/?p=5952"},"modified":"2015-02-24T06:40:41","modified_gmt":"2015-02-24T11:40:41","slug":"global-cooling-alert-brazil-headed-for-worst-economy-since-1930-1931","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=5952","title":{"rendered":"Global Cooling Alert: Brazil Headed For Worst Economy Since 1930-1931"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/davidstockmanscontracorner.com\/global-cooling-alert-brazil-headed-for-worst-economy-since-1930-1931\/\" target=\"_blank\">Global Cooling Alert: Brazil Headed For Worst Economy Since 1930-1931<\/a><\/h3>\n<p>For all the debt crises, hyperinflation and boom-and-bust cycles Brazil\u2019s economy has suffered in recent decades, the country hasn\u2019t posted two consecutive years of contraction since the Great Depression.<\/p>\n<p>But if 2014\u2019s fourth quarter was as bad as many economists think and their expectations for this year hold true, Brazil will repeat that feat for the first time since 1930-31.<\/p>\n<p>On Monday, economists polled weekly by Brazil\u2019s central bank downgraded their consensus 2015 forecast to a 0.5% fall in gross domestic product.<\/p>\n<p>And the central bank\u2019s preliminary indicator this month revealed a 0.12% drop in economic activity in 2014, though the Brazilian Institute of Geography and Statistics won\u2019t release official GDP figures for the year until next month.<\/p>\n<p>Finance Minister Joaquim Levy recognized the possibility of a 2014 decline at an event in the New York last week. \u201cWe\u2019ve been in a slow patch more recently and we all [feel] that growth has slowed down,\u201d Mr. Levy said in a Feb. 18 presentation to the Americas Society\/Council of the Americas. \u201cMaybe last year it was even negative.\u201d<\/p>\n<p>Several factors are weighing on Brazil\u2019s once-dynamic economy.<\/p>\n<p>Growth in China, Brazil\u2019s largest trading partner, has slowed, damaging demand for Brazilian iron ore, soybeans and other commodities and weakening the currency.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Cooling Alert: Brazil Headed For Worst Economy Since 1930-1931 For all the debt crises, hyperinflation and boom-and-bust cycles Brazil\u2019s economy has suffered in recent decades, the country hasn\u2019t posted two consecutive years of contraction since the Great Depression. But if 2014\u2019s fourth quarter was as bad as many economists think and their expectations for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[90,130,1752,246,353,383],"class_list":["post-5952","post","type-post","status-publish","format-standard","hentry","category-economics","tag-brazil","tag-china","tag-economic-contraction","tag-economy","tag-gdp","tag-great-depression"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5952"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5952\/revisions"}],"predecessor-version":[{"id":5953,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5952\/revisions\/5953"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}