printDid you know that Brazil “is now the United States’s fourth-largest creditor”? They’ve been increasing their wealth, which has afforded the US the opportunity to spread its debt.
This according to a book by Larry Rohter, BRAZIL ON THE RISE: The story of a country transformed, reviewed in the June 17, 2011 issue of the Times Literary Supplement.
To read between the lines, Brazil is changing from a crappy country to a not-so crappy country. Given Rohter’s retarded analysis—Brazil’s improvement he puts down, in part, to wise “cash-transfer social programmes”—it’s hard to know what’s afoot. The Left truly feels—for they don’t think—that moving money from wealth creators to wealth consumers generates plenty.
It’s safer to say that, as in Chile, freeing markets has generated greater prosperity for Brazil.
Like white on rice, the Us in on any country with “significant foreign currency reserves.”
I think Brazil may be for a nasty surprise in a few years. Their primary assets are a vast abundance of high-value (but non-renewable) resources & lots of cheap (sometimes slave) labor. They also were far less affected by the subprime crisis & international banking scams then most Western countries. I don’t see them turning into a long-term economic superpower. Hot babes with perfect wax jobs are a valuable commodity to be sure, but they’re somewhat hard to commodify.
Brazil has also made some significant oil discoveries recently. This should give it (not us) more stability.
http://www.nextenergynews.com/news1/next-energy-news12.17d.html
The Left truly feels—for they don’t think—that moving money from wealth creators to wealth consumers generates plenty.
The English language word for this is parasitism.
It is pretty pathetic if Brazil and other countries have nothing better to invest their money in than our relatively low-interest rate paying semi-junk bonds (while we inflate our currrency, no less!).
US recently gave Brazil several $billion to increase their oil production. I read that as a flat-out bribe aimed at keeping them on the dollar.
From the title of the post I thought you were going to reference our changing demographics which appear very Brazilian. It came as a complete surprise to me that they were such a large creditor.