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Stop Complaining on a Full Stomach, Brazil Tells Businessmen

Brazilian Guido Mantega The financial sector in Brazil is complaining for nor reason, says Guido Mantega, the Brazilian Economy minister using a colorful Portuguese expression "crying with a full belly" (chorando de barriga cheia). His comment came as direct response to complaints about inflowing capital tax which was decided this week to prevent a foreign exchange bubble between the local real and the US dollar.

"They are crying with a full belly because never before in the history of the Brazilian stock exchange has there been such a fantastic expansion. Today it has become one of the largest and main markets of the world thanks to the administration of President Luiz InΓ‘cio Lula da Silva. You can't have all", said Mantega.

The SΓ£o Paulo Bovespa stock exchange top officials formally complained about the 2% tax on foreign financial investment in Brazilian assets and deposits, the famous "carry trade" taking advantage of the anemic US dollar and soaring Brazilian Real. The Bovespa index has jumped 65% so far this year.

"We want to avoid a foreign exchange bubble. I can understand they want more operations but I'm against excesses and exaggerations," said Mantega quoted by the Folha de S. Paulo daily newspaper.

Mantega said that without the measures adopted by the Brazilian government, the US dollar which now quotes at 1.72 reais could have plunged in the coming weeks to 1.30 reais because of the massive influx of US dollars looking for assets to protect the value of the investment.

The US dollar has depreciated 25% against the Real in the ten months of 2009.

"Because we have been the first in coming out of the global crisis, our economy has become a magnet for the excess capital roaming the world. These measures are geared to eliminate misbalances which could affect production and the real economy", added Mantega.

Brazil's Economy minister said that a new package of measures to alleviate costs for exporters and the fall in the US dollar, will soon be implemented.

Mercopress

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  • Show Comments (4)

  • ch.c.

    USA_Male
    USA_Male or Brazilian_Male?

    You are one of those Brazilian wannabe American who jumped over the Mexican-American fence and then managed to get naturalized American.. LAUGH, LAUGH, IDIOT

    And Double-Dot you stupid moron, I would never want a green card, Why? I don’t want to be part of a nation which is the most hated in the world, why would I?

    My sexuality, and who I sleep with is not part of this blog !!!!!!!

    Idiots like you both with no brain cells to discuss and prove what you say, just make me LAUGH LAUGH LAUGH

  • USA_Male

    Ch.c. serious, why do you care so much what happens in brazil?
    Who cares what robin the crook is going to do with the extra money. Okay, brazilians care, but why you since you’re a “high class”..lol foreigner? Tell us..what’s your motive?
    Do you like it or love brazil and it’s people (mainly men)?
    Because i’m an american and read brazzil.com because i’m curious but don’t care so much about switzerland or pinheads like you (yeah i love the factor) who’s economy is only ruled by phony local and foreign bankers, and still needed a bailout, just like in my country..i was reading a bit more about your “real” nation. and I got to tell you..it’s hell boring. Your cozy nation doesn’t even produce cars nor airplanes or other high tech stuff what we do better here in the US. So tell us..why do you really bitch about Brazil? Is it really because you lost your boyfriend who you still love so much and miss? or is it because, you just can’t stand it that it’s trying hard to do it’s best and need to bitch about it? I admit, sometimes you’re right, but for 95%, you’re full of shit and come up with outdated info. Why? Just curious.
    Ch.c. a greencard? please, we have enough gays here who’re whining ..we don’t need more.

    I bet with you he will come up with one bla bla yawning story..lol…watch.

  • Double-Dot

    My friend ch.c.
    [quote]Brazilian men => not to be trusted for relationships very unfaithful they are. [/quote]

    Have you ever tried American men ? We, Americans, are good and loyal for any kind of relationship: straight or not.

    And by forming a relationship with an American guy, you might even qualify for a green card πŸ˜‰

    God bless America

  • ch.c.

    HAHAHA
    [quote]The SΓ€Ζ’Β£o Paulo Bovespa stock exchange top officials formally complained about the 2% tax on foreign financial investment in Brazilian assets and deposits, the famous “carry trade” taking advantage of the anemic US dollar and soaring Brazilian Real.[/quote]

    HAHAHA That was to be expected from Robing Hook and his followers ! I wonder what he is going to do with this extra money in HIS pocket..

    Brazilian government => cannot be trusted for business deals
    Brazilian men => not to be trusted for relationships very unfaithful they are.

    PROVEN ONCE AGAIN ! LAUGH, LAUGH

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