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Written by John Fitzpatrick
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Tuesday, 09 January 2007 05:35 |
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No-one could accuse Brazil's President Luiz Inácio Lula da Silva of being greedy for power. When he was elected to his first term of office he suggested delaying the transfer ceremony for almost a week because the official date, January 1, 2002, was a public holiday. This year, he was duly sworn in, addressed Congress and a crowd of supporters, carried out some official duties in the following four days then went off on holiday for 10 days without forming a new government.
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7 years later (in 2002)....the Real plunged 75 % and is still today, despite the recent recovery at Reais 2.15 to the dollar, meaning a depreciation of around 50 % from the initial date of the Real Plan !
Strange that John finds this as a positive outcome.
And if that was your only sucessful long term accomplishment...my god....Brazil was/is and will remain a country governed by inept people. Your Politicians should return to basic economic schools...for few years !
More lousy, difficult to find.
Could be that Brazilians are born as natural loosers ! Whatever you do....you do it wrong ! Therefore your repeated failures become quite normal !
And believing that you will be smarter today or tomorrow has not been proven yet.
Afterall your nickname of BOOM AND BUST ECONOMY is quite justified !
Even during the last 4 years, you have lagged against ALL the other developing countries. Looks like you enjoy to be at or near the bottom of the various rankings.