Brazil, the Least Affected by Global Economic Crisis

Brazilians According to a survey by the Organization for Economic Co-operation and Development (OECD), Brazil is the country that suffered the least with the world economic crisis. According to the document, the Brazilian economy saw a reduction of only 2.9 points and its activity was rated as being "in decline."

The survey, based on figures pertaining to November last year, points to a "sharp slowdown" in the European Union, Asia, the United States and large emerging economies. The survey includes the 30 OECD member countries and five other important economies that are not part of the group, among them the so-called BRIC countries – Brazil, Russia, India and China.

The OECD index, which consists of an average of different economic indicators, revolves around 100. The OECD rates as expanding economies those that have rising indexes and above 100.

Economies with indexes above 100, but showing a trend of decreasing activity, are considered to be in decline. Countries with indicators below 100, but rising, are rated as in recovery. In turn, those with indexes below 100 and retracting economies are defined as in slowdown.

Brazil is the only country that maintained a rating above 100 throughout the second half of 2008. In November, the OECD index stood at 101.2 points, as against 102.3 in October, 103.2 in September, 103.9 in August and 104.1 in July.

Russia was the worst performing country in November. At 89.8 points, its index was slightly higher than China's, but represents a decrease of 13.8 points in comparison with the same period of last year.

As was the case in nearly every country, the slowdown has intensified since July. In China, the index was 88.5 – 12.9 points below the average of economic indicators as of November 2007. In India, the slowdown in November stood at 7.6 points compared with the same period of the previous year.

All of the large world economies also recorded "sharp slowdown" rates, with indexes below 100 since July.

The world's largest economy, the United States recorded an index of 92.2 points in November, representing reduction of 8.7 points compared with November 2007.

In Japan, which has the world's second highest Gross Domestic Product (GDP), the decrease was of 5.5 points in comparison with the same period of the previous year, and the index in November was 93.7 points. In Germany, the third in the global ranking, the OECD index stood at 91.6 points – a decrease of 10.7 points.

The outlook was not too good in the Eurozone countries. The reduction compared with November 2007 stood at 7.6 points, with an index of 94.3 points. Considering the five leading Asian economies (China, India, Japan, Indonesia and Korea), economic activity decreased by 9.5 points, earning an index of 91.6 points.

In turn, the OECD member countries recorded a slowdown of 7.3 points in comparison with November 2007, having recorded a combined index of 93.8 points.

Export Record

The Brazilian state-controlled oil and gas multinational Petrobras attained record high exports of oil produced in Brazil in December. Sales during the month totaled 19.2 million barrels of oil, i.e., an average of 620,000 barrels a day, 46,000 more than the previous record high, of 574,000 barrels a day, attained in October 2008.

According to the company, 63% of exports were destined to the United States. Another 21.4% went to Europe, 5.4% to South America, 5% to Asia and 5% to the Caribbean.

Exports in December generated revenues of US$ 574 million, to be collected in January and February this year.



  • Show Comments (33)

  • dnbaiacu

    The “cure” made his point….
    And it is respected ๐Ÿ™‚

    Ch.c “is” a character.. Like I am sure people think I am ๐Ÿ˜‰ You let all these “extremes” meet middle ground somewhere. This is what makes it fun. And this is what blogging should be.
    Informing and fun.
    Getting comments with substance at whatever angle they come is cool. ๐Ÿ™‚

    I remember “A Brazilian” and his comments on Brazil not being Democratic. I guess he has better things to do than “blog’ these days. I like when he shows up. When Blanchette gets a rise out of him, you better watch out! ๐Ÿ˜€ I will never forget that debate ๐Ÿ˜€ ๐Ÿ˜€ :D. Fortunately “those” types of issues are being elclipsed. Because all of us are pretty much in the same boat more and more as time goes on. Less Black and White. Less “haves ” and “have nots”.. More the “controlers ” and the “controled”. ๐Ÿ˜‰
    So much change , in so little time.. wouldn’t you say?

  • dnbaiacu

    Ok,,,? I need help..
    In many ways yes ๐Ÿ˜€ ๐Ÿ˜€

    But Joao , or anybody,, please help me to understand. ๐Ÿ˜ฅ
    [quote].. Powerless Brazilian Middle Class” [/quote]

    In what way is Brazil possibly or remotely “democratic”?
    If there truly is not choice BUT to go with the status quo , then no wonder why everyone is pretty much “apathetic” ๐Ÿ˜ฅ
    This would further concretize Ch.c’ s stance. ๐Ÿ™
    Now why can’t a Brazilian see that? ๐Ÿ™
    Is that the “novella-like” mentality gone wild? ๐Ÿ˜€ ๐Ÿ˜€
    You see,, this is EXACTLY why I believe in the “BOOK”
    Anything else is a waste of energy. ๐Ÿ˜‰
    And Brazilians have good reason to “party” . Because virtually nothing else is taken seriously. ๐Ÿ˜€ :D.This means the only logical way to live in Brazil is as close to a life of ease and leisure as possible. Any other way is futile.
    I really do hope I am wrong about this conclusion. ๐Ÿ™ ๐Ÿ˜ฅ

  • dnbaiacu


    Pretty sad some of you people actually support and listen to this wacko. [/quote] ๐Ÿ˜€ ๐Ÿ˜€ ๐Ÿ˜€

    Ch.c “does” take a minute to get used to for those who love Brazil despite it overly apparent dysfunction. And while not trying to “read” him. As an investor with the disposition he has towards Brazil , it is probably the most pragmatic mental approach to take. EXPECT the corruption , lies and cheating and you will better able to handle it as it comes along ๐Ÿ˜‰ :D. Truth be told it’s the only way to keep your sanity in Brazil if you have done ANY business there.
    When he says things like Brazil or Lula and gang “caressing its navel”.. that is synomynous to Brazil being a “wanna be”. It wants so desperately to get first world status and respect but does very little at the base., in the infrastructure. You just can’t maintain these levels of disparity and overt corruption in government and expect to get anywhere. And the citizens that MAY have some say ,or time to protest . Don’t do anything. The “elite” or “near ” elite. The real middle class . Are NOT proactive.
    The best in protests I have seen are in the Northeast. And of course they have A LOT to protest about. And it is usually the youth over raised bus fares. And yet this is not supposed to be the “stronger half” of the Brazilian popualtion overall.
    The segment of the population that could probably demand “change” and “justice” in Brazil do NOTHING. They appear, for all intents and purposes content with the status quo. ๐Ÿ™
    So Ch,c is calling it as he sees it.
    It’s called being realistic.
    There is no “cure” for the Truth. ๐Ÿ˜‰

  • dnbaiacu

    Interesting quote from my favorite financial newsletter…..
    [quote]Simply put: They lack domestic demand because the ruling powers refused to invest in their own people. Instead they focused solely on exporting and investing their surpluses abroad. Now … their export markets have cut back buying. And there’s not enough domestic demand to stop the bleeding.

    This was in reference to some “emerging markets”

    Now I wonder who fits that description???? ๐Ÿ˜‰ ๐Ÿ™

    Now if Lula has his way everyone will believe the insidious propaganda to “keep spending”.. ๐Ÿ™ ๐Ÿ˜€ ๐Ÿ˜€

    Ch.c is just about right about everything. He has “insight” and is no “dreamer”.
    Keep it coming!

  • dnbaiacu

    ๐Ÿ™‚ Sorry about the mis quote.
    btw , I responded to you on the “other” thread. ๐Ÿ™‚
    Man,, I enjoyed that thread.

    Best advice for anyone is just to keep it simple. And don’t worry. ๐Ÿ™‚ be “happy”
    [b]ร€โ€šร‚ย So, never be anxious about the next day, for the next day will have its own anxieties. Sufficient for each day is its own badness. Matthew 6:34[/b]
    [b]Happy are those conscious of their spiritual need, Matthew 5:3[/b] ๐Ÿ™‚
    If you think you like these texts,, check the “source” and get even more comfort..
    It’s all in your head anyway. ๐Ÿ˜‰
    There’s no need to be afraid of “death”… You don’t know your dead ๐Ÿ˜‰
    [b]For the living are conscious that they will die; but as for the dead, they are conscious of nothing at all, neither do they anymore have wages, because the remembrance of them has been forgotten.[/b]
    [b]All that your hand finds to do, do with your very power, for there is no work nor devising nor knowledge nor wisdom in Sheร€ยขโ‚ฌยฒol, the place to which you are going.Ecclesiastes 9:5,10[/b] ๐Ÿ™‚ ๐Ÿ™‚ ๐Ÿ™‚
    Bet a lot you didn’t know that? ๐Ÿ˜ฎ ๐Ÿ˜ฎ
    Blame your church! ๐Ÿ™
    Truth is for the asking…..
    Sometimes…. ๐Ÿ˜‰

  • dnbaiacu

    “Brazil” is going nowhere
    [quote]Brazil is being born. [/quote]

    Without the will to take care of the masses at least “decently” (inequities will always exist) . But at least “decently”..Considering all the wealth in natural resources it has, where is it to go?
    Besides , they have made huge trade alliances of all sorts with the hot bed that is the middle east. The are bound to have security issues.
    There is no way that the “powers that be” (in this case developed countries outside of Brazil) are going to let their “OVERSEERS” in Brazil and the rest of Latin America take over the PLANTATION and “rise” as it were ๐Ÿ˜€ .That is wishful thinking.
    Economics aside. You have to get back to psychological basics.
    There will be no real prosperity until oppression is eliminated. You cannot have the extremes Brazil maintains and expect to get ahead. ๐Ÿ˜ฎ ๐Ÿ˜ฎ
    Brazil.. and South America was not designed to be anything more than what it is.. A PLANTATION ! Thank your Popes, bishops and Cardinals over the past few centuries for that! ๐Ÿ˜‰

    There is no need for you to be confused… Dust off your Bible, ( I sense you have one ;-), and I am joking about “dusting it off”) and “study” it. All you need to know “economically is there.
    Things will progressively get worse for most so it is best , as the scriptures imply , to “keep it simple” and use “soundness of mind” . There are far too many suffering , for it all of a sudden to get better ANY TIME SOON> ESPECIALLY with all that is going on as far as “security”.
    Brazil is creating a HUGE mess for itself with all these alliances trade and otherwise with the middle east. So silly they can’t see it coming. Being so proud of being the supposed “bread basket” of the world. ๐Ÿ˜‰ Greed has blinded them to reality. ๐Ÿ™ Not surprisingly ,, so human.
    Survival is going to depend on who you know and what you believe. Like AES says, there’s going to be a lot of social unrest. And the rich and those that may even LOOK like they might have something are going to be more so in the “prisons” of their own makings.

    Stay tuned ๐Ÿ˜‰

  • falupa

    Brazil really affected
    I don’t know how well the economy really is going, right now. It seems like Brazil may be the least affected, but it is also an emerging economy. It still has several problems that need to be repaired. Especially with the poverty. Fix that then we’ll see who is better economically.

  • Nuno

    Good news, anyway
    These are good news, anyway. The economy will get worse before it gets better, but Brazil will be more prepared when things start to come around and will be in the starting line ready to take advantadge of new opportunities. We’ll see..

  • HicksVicki28

    respond this topic
    Following my own investigation, billions of people on our planet get the loan from different creditors. Hence, there is a good chance to receive a term loan in all countries.

  • kelly

    Where is really the best place to live and work?!
    Economics not being my stong point, this makes little sense to me..

    I am trying to work out where it would be better to live and start up a health ad beauty business.. Sao Paulo (Brazil) or London (UK)..

    Options in basic English would be highly apprichated..


  • triple-dot

    The Cure, Dnb,et al

    “Perception” afterall is reality………….. ๐Ÿ˜‰ ๐Ÿ˜‰

  • The cure for Ch C

    being realistic?
    Ah, you guys seem to think I’m Brazilian…I’m not.

    I’m a Canadian who lived for two years in the NorthEast and am completely aware of the corruption, social problems etc. So I’m not some wide-eyed gringo who doesn’t see the bad side and only sees beaches and half naked women.

    My personal problem with the Swiss Jackass is that he can see only the bad and sometimes bad where there is no bad.

    Anyway, I’m done debating with him as it is my opinion that he lacks perspective and is pretty hateful. I don’t give credit to anyone of his type.

    As for being ‘realistic’ I think it is fair to say that while you shouldn’t buy the propaganda of Globo, politicians etc. but you also shouldn’t buy the propaganda of a guy who is ten times more biased in the other direction.

    Just as you wouldn’t trust numbers spun from the Brazilian government to prove their opinions, the Swiss Jackass is just as untrustworthy as he manipulates his numbers. Do your own research and formulate your own opinion is all I ask.

    Generally, things are never as good or bad as people would have you believe, but somewhere in the middle.

  • Joรƒฦ’ร‚ยฃo da Silva

    [quote]In what way is Brazil possibly or remotely “democratic”? [/quote]

    I have written many comments about this. I don’t know if you remember a guy by name “A Brazilian” who used to say that it is not “Democratic”.You should address this question to your relatives from your maternal side and I would love to hear their opinion.

    [quote]If there truly is not choice BUT to go with the status quo , then no wonder why everyone is pretty much “apathetic”[/quote]

    Yes they are all apathetic until a disaster hits them like the one that took place in Nov/Dec in our state or more recently (a couple of hours ago), the roof of the Evangelical Church in Sร€ฦ’ยฃo Paulo collapsing right on top of the “worshipers”.

    [quote]This means the only logical way to live in Brazil is as close to a life of ease and leisure as possible. [/quote]

    If you were born in a “noble” family or elected by the “povร€ฦ’ยฃo”, you can afford to do it . But…..But…. the Middle class Brazilians have just few choices: a) Grin and Bear b) Leave for somewhere else c) Join the System and be submissive and subservient.

    BTW, I really get a big kick when the Brazilian Ex-pats living in other countries come rushing to defend the “Patria” when Ch.C or other people come out with real stats and facts to show that things are not all that “blau”. They remind me of some “silly old maids” from the “nobility” and pseudo educated graduates of Sorbonne that occupy “important” posts in the Government. As you rightly said, SA will always remain a plantation. ๐Ÿ˜‰

  • Joรƒฦ’ร‚ยฃo da Silva

    [quote]The real middle class . Are NOT proactive. [/quote]

    You pinpointed the problem, Dnb. Ch.C really speaks for the ” Silent BUT…BUT.. Powerless Brazilian Middle Class” . The article in the “G&M” was nothing but to enable the rulers to caress their “Navels”. The “Cure” must be a “New Canadian” that got his original degree in a detergent pack from SP university (to quote Ch.C).

    Thanks. ๐Ÿ˜‰

  • Joรƒฦ’ร‚ยฃo da Silva

    The cure for Ch C
    [quote]As for the economic health, here is an interesting article in Canada’s national newspaper today:[/quote]

    Excellent article written by Doug Saunders and thanks for reinforcing the opinion of 80% of the Brasilians. I really appreciate your posting the link from the ” Globe and Mail”, which seems to be the only “National Newspaper” of Canada. I don’t think that Ch.c has ever heard of Canada, Globe and Mail or for that matter Doug Saunders. To enable him to understand and appreciate this article and start admiring our Chief Ruler, I am posting below the picture that was published along with young Dougร€โ€šยดs article in G &M.:


    BTW, a question: Was Doug writing from London. England or London, Ont?

    Once again, thank you so much for sending us the link, Cure.

  • The cure for Ch C

    The Swiss Jackass has a coffee farm in Brazil???
    Is this true? THAT takes the cake for hipocrosy!

    The guy who constantly labels Brazil as a country of liars, cheaters and idiots has no problem INVESTING in a country he clearly HATES and I assume has employees he DETESTS?

    Pretty sad some of you people actually support and listen to this wacko.

    As for the economic health, here is an interesting article in Canada’s national newspaper today:

  • Joรƒฦ’ร‚ยฃo da Silva

    [quote]He has “insight” and is no “dreamer”. [/quote]

    His “insight” started getting better after associating with brilliant people such as our excellent and humble selves. ๐Ÿ˜€

  • Joรƒฦ’ร‚ยฃo da Silva

    [quote]Like AES says, there’s going to be a lot of social unrest. [/quote]

    AES did [i]not[/i] say it. I did it. I should have said that there is going to be [i]more[/i] social unrest.

    To Jon:


    It is going to grim everywhere….250,000 job losses predicted here in Canada (forestry, mining, automotive, potash, etc. ) [/quote]

    I don’t know Jon. You Canucks have a large land full of natural resources and a small population, besides having stiff upper lip.The social disparity is not all that accentuated like ours. So you must come out of this crisis less unscathed than us. BUT….BUT… as good ole Ch.C says, only the time will say.

  • jon


    It is going to grim everywhere….250,000 job losses predicted here in Canada (forestry, mining, automotive, potash, etc. )

    Optimists are a rarity

  • Joรƒฦ’ร‚ยฃo da Silva

    Hi AES,


    This question was obviously addressed to me! I don’t think that you read the Brazilian newspapers nor watch the TV. On this eveningร€โ€šยดs TV news , our President Mr.Lula appeared and gave these numbers which do vary from one source to another. If by now, your proficiency in Portuguese has improved, I suggest you read the following link where it is reported that Lula says that it should be around 600,000:


    It does not matter if it is 600,000 or 800,000, it is going to cause lots of social unrest in the next few months. There is a tug of war between the Industrial “leaders” and the Government. I really do not know how they are going to solve this issue.

    I personally think that the Government blew a great opportunity during the past 10 years to reform our obsolete labor laws and also introduce Tax reforms to attract foreign money in productive sectors.Instead they hired Advertising Agencies to create an illusion.

    The year 2009 is going to be an interesting one for U.S. as well the rest of Americas.

  • AES

    [quote]Did you know that 800,000 people lost their jobs only in December?[/quote]

    I Googled that and there was an article from 2002 regarding that.

    Could you give the reference that you are currently quoting. S’il vous plait.

  • Joรƒฦ’ร‚ยฃo da Silva

    [quote]I don’t know how well the economy really is going, right now. It seems like Brazil may be the least affected, but it is also an emerging economy.[/quote]

    Wake up Falupa. Get that Air pass TAM is offering and spend some time in Brasil, talk to ordinary middle class “Commoners” and then tell us if Brasil is the “least affected” .

    You are talking like our friend Ricardo Amaral. It is all easy to sit in the good ole U.S.of A and think that “all is blau” in the “patria” and extolling the virtues our “Economic Team” (which by the way is on a collective vacation) that is working hard to eliminate “poverty” and fix “problems” .

    I suggest you read some on-line National Newspapers and keep track of what is going on with the Brasilian economy.

    Did you know that 800,000 people lost their jobs only in December? Still you want to insist that Brasil “seems to be least affected”? Please spare me the ordeal. ๐Ÿ™

  • Joรƒฦ’ร‚ยฃo da Silva

    [quote]The rhetoric is at a fevered pitch[/quote]

    Was your comment in reply to mine?

  • AES

    Ch.c the idiot
    Gee Ch.c you are ranting. Brazil may lose 1/2 percent of GDP according to Fitch. You know Fitch dont you? Why would anyone listen to your vitriole. You are little more than a Swiss clerk. We know you are a coffee farmer, you have chosen to invest in Brazil. High quality coffee not the common coffee, oh no not Ch.c. You should be prevented from investing in Brazil since you are nothing but a denegrader. How many slaves do you have on your plantation you hypocrite. How much do you pay them?

  • jon

    The rhetoric is at a fevered pitch ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜‰

  • Joรƒฦ’ร‚ยฃo da Silva

    There is a “War of Words” going on between FIESP and the Minster of Labor over the Economy. The prediction of the “leaders” of the industries for 2009 is not very good and they want to reduce the working hours of the labor as well as the wages proportionately. They want to reduce the pay roll also. CVRDร€โ€šยดs Roger Agnelli is taking tough too.

    I have a strong feeling that many workers who were given “collective vacation” in the months of Dec, Jan and February are not going back to their work stations in several key industries. Hope they did not take the advice of the President and go on a spending spree before X-mas.

  • ch.c.

    Ooops !
    For Joao :
    ) the OECD SAID….IN 2008 Brazil was (until Nov 2008)…..not that… it will be in 2009 !

    And on top of that, just look at where these experts at the OECD who were surveyed…predicted early in 2008 for the whole 2008 year. Same about their 2009 estimates…when done in 2008 !
    They can simply readjust often their future estimates not any better than you or me, or even AES the junkie !

    Short memory how these other smart experts in rating agencies have rated AAA…toxic debts, or put Brazil as Investment Grade ?
    Look at their timing ! Not any better than AES.
    Buy high…sell low is their advanced maths and common sense !

    ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜‰

  • ch.c.

    Joao !
    1) the OECD SAID….IN 2008 Brazil was (until 2009)…..not that… it will be !

    2) To the idiot AES :
    – Brazil needs seeds to grow grains. 90 % of the brazilian seeds are made by foreign companies.
    – Brazil needs fertilizers to grow foods. Most are IMPORTED.
    – Brazil needs pesticidfes, fongicides to grow foods. Most are imported !
    – Brazil needs cars, trucks. Most trucks and ALL cars are made by FOREIGN COMPANIES…in Brazil, not by BRAZILIAN
    – Brazil government needs to borrow FOREIGN CURRENCIES. No developed country has that need.
    – “The high interest rates have created little consumer debt. ” Then why a fall in banks & homeuilders stock prices ?
    And why Robbing Hook will provide government subsidized mortgages at 4-5 % while themselves borrowing at MORE
    THAN TWICE …that rate…if there is Noooooo problem as you said ? And why all these banksd mergers….if Nooo problems ?

    – If your economy is so much better than others why was your currency one of the 2008 World WEAKEST…despite paying one of the World Highest Rate…after inflation ? The Swiss Franc has appreciated by close to 45 % against the Brl, despite we have one of the world lowest rate ! Why ?

    Idiots will remain idiots. were you not hyper bullish when oil was at the peak, grains at the peak, Petrobras & Vale at the peak,
    the Bovespa at the peak ????? OF COURSE YOU WERE….AES THE JUNKIE. WERE YOU NOT HYPER BULLISH ON ETHANOL SINCE YOU JOINED THIS SITE ? OF COURSE YOU WERE ! Look where Cosan stock price was in 2006 …Look at it NOW, despite the recent rally from the low—and then adjust the price in US$ ! It would have been as conservative to invest in Citigroup or UBS !

    Dear Idiot AES, is Cosan a U.S., European or Swiss Investment Bank ?

    As to my Coffee FARM, sorry again dear idiot AES, an enterprise is not sold with a click of mouse as stocks, commodities or forex are traded……..IF YOU DID NOT KNOW YET !
    It also happens that Coffee (lucky for us) had Nooo 2008 Bubble prices. Therefore it went down by not that much if you take an average price ! And as stated a while, we dont PRODUCE & sell LOW quality Brazilian Coffee. Meaning our prices are not subject to the same fluctuations.
    Also as stated 2008 was our FIRST production year. Because if you did not know trees dont produce fruits or coffee, 3 months after you planted the seedlings…DEAR IDIOT !
    And you dont sell an enterprise that is just starting to produce “something” but will grow naturally since trees will produce more the second production year from the first harvest !

    Dear idiot AES,
    Guaranteed I would not even hire you as a maid.
    My maid is much smarter than you. No doubt. With a Swiss Guarantee Stamp.

    Last but not least :
    Your country is in such a good economic health…here is what Brazil Foreign Trade Secretary (Not such a bad mouth as I am)
    ” Brazilร€ยขโ‚ฌโ„ขs exports may plunge 20 percent this year on slumping demand and falling prices as world economic growth slows, Foreign Trade Secretary Welber Barral said.
    The value of goods sold abroad in 2009 may tumble to $158 billion from $197.7 billion in 2008, Barral said in an interview late yesterday in Brasilia. It would be the first annual decline in exports since 1999, when the country abandoned the dollar peg and devalued the currency”

    I just remind you dear IDIOT AES that 2/3 of Brazilian exports are…COMMODITY RELATED !!!!!
    And that 2008 was such a great year, Brazil TOTAL exports were at US$ 1000.- PER CAPITA.
    Impressive wasnt it ? And Two Thirds …in commodity related goods…of course.
    Impressive ?

    Welll…. Argentina easily had higher EXPORTS PER …PER CAPITA !
    Ohhhhhh…also Thailand.
    Ohhhhhh…also Venezuela…if you did not know !
    Ohhhhhh…also South Korea, and not as much in commodities.
    Ohhhhhh…also other mostly commodities exporting countries…such as Australia, Canada and all or Nearly All OPEC countries !

    But Brazilians are superior and much better. Right ?
    Wellll… us the stats on exports.

    Show us against WHOM Brazil economic growth rate EXCEEDED during the last 5-6 years average ?
    Mercosur ? None
    BRIC ? None
    Latam & Caraibeans countries ? Very very few ! Not even a handful !
    Asian countries ? VERY….very few !
    African countries ? Not that many !
    Middle East countries ? Which ones !

    I am waiting your specific answers not your idiots comments !
    Only idiots and junkies like you AES, cant talk about vague generality but never about proven stats and numbers !!!!!

    Red faced ? Blue faced ? Red & blue faced ?

  • AES

    Brazil needs nothing. Food, energy, iron ore. Nothing. It is quite capable of complete autonomy. The high interest rates have created little consumer debt. The economy is sound. The exchange rate has nothing to do with the strength of Brazil’s economy, but rather that the dollar is globally in demand as a safe haven and as a consequence this competition for dollars it is valued up. But the 1.2 trillion stimulus package and the trillion dollar banking bailouts will have an inevitable downward effect on the dollar. Ch.c forever pans Brazil, but still he invests in coffee. Ch.c is cheap and complains about everything. Ch.c is festidious and abhors the fecund. There are no jungles in Switzerland, nor are there any weeds. The Swiss control every aspect of nature, except the ability to reproduce faster than their own death rate. Switzerland is dying, Brazil is being born.

  • Joรƒฦ’ร‚ยฃo da Silva

    I am kind of lost. There is an article underneath with the title “[b] Lula Warns Brazilians of Tough and Worrisome Times Ahead[/b]”. Then OECD assures us that “[b]Brazil is the Least Affected country by Global Economic Crisis[/b]. A moth ago the President told all of us to go on a spending spree.Now he warns us of tough and hard times.

    I just don’t know what to do. So I will not comment on this issue and let pundits like Jon and Ch.c to discuss it and advise me as to the future course of action I should take. ๐Ÿ˜ฅ

  • ch.c.

    Yeahhhhhhhhhhhh on Petrobras ! Finally the numbers I waited for so long. Proven by using Petrobras own numbers !
    if in December they exported 19.2 million barrels costing US$ 574 millions, in my humble basic maths that should make
    US$ 29,89 per barrel !!!!!
    Or a discount of around US$ 10.- to the exchange quoted price !!!!!!

    Welllll…that is not that much !

    Now just think about the production costs of your Mega Tupi Field ! Much higher costs than the actual producing fields !!!!!

    Thank you…thank you…thank you !

    That is a good indication of things to come….on Petrobras “not so good news” !!!!!

    ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰ ๐Ÿ˜€ ๐Ÿ˜‰

  • jon

    For everyone, the economic slide has continued since November. In November, those 900 GM employees were still working in Brazil. What is the snapshot today? Lula said he had personally decoupled ๐Ÿ™‚

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