Souce: The Economist - print edition, as cited below.THE PICTURE - In this figure published in the recent 17-25 Feb issue of The Economist (regarded the most prestigious magazine in the world), the icon from Carnival in Brazil comes in the front - that has been a stereotype for ages. On the left we see very enthusiastic men... but wearing a suit-and-tie, not carnival garments. As executives, they are all men - another stereotype. They are investors... Now note that the woman is adorned with notes where 'shares' is printed on. And the commercial buildings, as we infer from the text, refer to those investors' recent decision to not only buy assets but also set up offices in Brazil, so profitable the investiments have proven to be.
FAR FROM FUN - Brazil is the best 'alternative-investiment' haven, claims the report. Reading this made me prone to go to the square of liberty, if ever there were one here in Sao Paulo. Of course, the name is not the point; I mean there is no such Square especially because there are not many among us conscious of what is really behind our so huge GDP, let alone willing to go out and protest.
CONTRADICTIONS UNDER ROUSSEFF'S TABLE - What sort of investment is this? A sure thing is that it is extremely liquid. And another is that all this fuss goes sharply against Rousseff's recent harsh measures to unheat the economy in face of the threat of inflation! One very tough measure was her approval, three days ago, of the new minimum salary - a figure that does not even replace inflation since its previous adjustment. The "mother of the Brazilians", as she called herself on being sworn in two months ago, shows her B-side without any further delay.
LIKE EGYPTIANS? Once the minimum salary was made known, there were small demonstrations in Brasilia, the capital. But no more - protesters here are cold feet for the police always come and attack - at least with rubber bullets. And we, broadly speaking, are much closer to a sort of Amelia's character (from a popular song, Amelia is the woman that never ever complains and even finds it nice not to have anything to eat...) than to now typical Egyptian youngsters.
EXCERPTS - One excerpt from The Economist report titled "The buys from Brazil"(where the picture belongs to) goes, 'Money is pouring in, as investors throng funds’ offices on bustling avenues like Faria Lima in São Paulo and Paiva de Ataulfo in Rio.' (the correct name of the avenue in Rio de Janeiro city, district of Leblon, is Ataulfo de Paiva.)
Another one states, 'The Brazilian government’s sunny view of hedge funds and private-equity firms (the so-called 'alternative investments') also helps explain their growth over the past few years. In many countries governments treat private-equity firms and hedge funds with either loathing or teeth-grinding tolerance.' (emphases are ours). The magazine does not point out those 'many economies' where alternative investments are not welcome, but the contrast is evident - Brazilian government shows a sunny face to them.
NOT IN THE HEADLINES - Food is much pricier from previous month. Salary was cut off. But there is yet another trick: social classes A,B,C... are conventionally established in terms of how many times a household income is higher than the minimum salary. Once this is kept low, such income remains formally - and for statistical purposes - still representative of a higher social class, despite the household purchasing power has gone down. This keeps the "new medium class' theoretically in place, while it is in fact pushed off road.
WHY DILMA ROUSSEFF IS NOT SENT AWAY?
First thing, in education we are equal to Zimbabwe. The Brazilian huge mass gets the papers for horoscope and football only. And... it is stupidly religious. A typical Catholic Sunday mass sermon includes, 'Do not complain. You, sinner, just remember how Jesus Christ suffered for you, forgave your sins. Why can't you suffer in silence just as He did?'
And so we go... crime steadily on the rise. We fancy killing each other best. Do not know if Zimbabwe mirrors us on that...
SPILLS ON THE CONSTITUTION - In time, Dilma Rousseff, going against the Federal Constitution, just turned the value of the minimum salary her private decision - until the end of her term in 2015! According to the Law, such value is to be set by Congress.
FURTHER COMMENT: On the page of The Economist, under the article here addressed, I left the following comment:
The government's 'sunny face' to those initiatives goes against the very government policy of unheating the economy so as to control inflation. It turns out the Head of the country houses two faces: one of them, not so much exposed, seemed indifferent as a tough measure was just approved - the harsh new minimum salary. There is a popular saying that goes, 'All ends up in pizza', meaning that the white-collar remain above the law. White collor now also refers to the new president. Indeed her choice of dress collor in her inauguration may shine upon two different crops. Both crops are increasingly under her sole control. A high GDP, definitely a holy ghost. GDP is the highest! Blessed be our Goddess! GDP will soon stand for People's Greatest Disappointment. For the wisest economists, it already means Progressive Gains on the Deprived.
