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Panicky Markets: US, Clean Your Own Mess, Warns Brazilian President

Brazilian president Luiz Inácio Lula da Silva At at time when stock exchanges and financial systems all over the world react badly to the economic package announced by the US President, George W. Bush, last week, the Brazilian President, Luiz Inácio Lula da Silva, says that he doesn't think that the present American crisis can affect Brazil's growth.

"I don't believe this will happen," stated Lula, "first because Brazil's investments have already been defined in 2007, and then the PAC (Growth Acceleration Program) money has already been committed, the large projects have already been signed up. I am convinced that we are going to remain on the right track."

Lula also stated that his government is attentive to the global economy and guaranteed there is still no reason for Brazilians to be worried about the international crisis.

"I am calm. Of course we all have to keep both eyes wide open to know what it is going to happen in the American economy and, consequently, in the world economy," added the president before a ceremony in which he swore in his new Minister of Mines and Energy, Edison Lobão.

Lula got together with Finance Minister, Guido Mantega, in the morning, this Monday, January 21, promising he would again talk to Mantega and to Central Bank President, Henrique Meirelles, before the end of the day.

"There's no need to worry, let's just keep and eye on the situation and if necessary we will take the measures required," he added.

Lula also said that the United States needs to assume responsibility to avoid that the crisis spread and end up affecting the whole world.

"It is not possible," Lula argued, "that people who do not own a house in the United States, people who didn't apply for any mortgage pay for the irresponsibility of some who decided to make money the easy way, as if they were placing their bets in a casino."

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  • Show Comments (23)

  • João da Silva

    [quote]I have been to Brasil & strongly considering a move there.[/quote]

    Please do not hesitate to discuss your relocation plans with Ch.C.

  • Steve K

    The faltering US Economy…
    I was born in the US. Never before have I seen such F**ked up leadership in this country. I have been to Brasil & strongly considering a move there. I do not care what any of you ignorants may “dislike” about the best country in South America. One day, I will be a proud citizen of that country. No… I will not be sorry one day, when the Brasilian Real becomes stronger than the US Dollar. There is a strong possibility of that happening. The US is already in excess of 2 Trillion dollars in debt, due to Bush’s stupid war in Iraq & Afghanistan. I will only support the troops once they all have been returned home. Bush looks more like a dictator than Hugo Chavez these days. Bush’s Grandfather helped fuel the Hitler Regime right before World War 2! He also allegedly conspired to assasinate John F Kennedy. Eu Amo BRASIL!!!!!!

  • ch.c.

    “Paper money is the culprit”
    Dead right !
    Just look at Brazil.
    They cut 4 times 3 zeroes, and also devaluated twice by 70 % ….in the last 70 years or so..
    Ohhhhh but Brazil criticizes America.
    They pretend to have a strong currency but have a currency that is still DOWN 40 % from a decade ago when compared to a weak US$. Making it far worse when measured against strong currencies of the other developed nations
    Where is the strength….except in the last 5 years…..after having devalued it by 70 % ?????
    Simple maths : if 1 goes to 0,3 and then double, the result is still only 0,6….but certainly not above 1.
    And this is exactly what the Brazilian currency did in the last decade.
    Nothing to be that proud….in my view.

    And guess how Brazilians have been smart : they accumulated foreign currencies reserves by buying mostly the currency
    that went the most down !!!!!
    But Brazilians caress their navel.
    Mey be they should think twice.
    Not very clever….in my view !

    And finally to make things rosier than they really are, Brazil is measuring most of their exports value and growth using the weak US$ as a base. Very easy to have a HIGH growth rate when measured against a declining currency…..by definition !

    While in reality their exports barely grow when measured in their own currency, but they have not yet realized this simple and basic fact !

  • João da Silva

    Forrest
    [quote]joao paying for goods and lack of servises is why i moved my business out of brasil .
    and set up else where , so brasil lost
    123 derict jobs
    300 or so out sorce jobs
    $78,000 in taxes business.
    $157.000 in import taxes
    $22.ooo in property tax

    and no telling how much in bribe money i saved from not doing business in brasil
    of corse there would be all the little hand out for ibama , sudama , water , navy , reita fedrail ,and any other
    thife with a badge to come along or a post d SSN/CPF and make my own pasport as a citisen of the world
    with no tyes to any country , and not having to answer to any of there laws .but the laws of nature .
    and live by simple rules [/quote]

    I agree with you. You faced the same problems that the medium and small sized businessmen have to deal with every day. They are the ones who are the back bone of the economy of a country. Well, the capital flies (or sails) to other countries, where it is easier to do business.

    But who cares if the jobs are lost? Unfortunately, we are the vanishing breed. A bit sad,but it is true.

  • forrest allen brown

    monday was a holiday in the US so yes they were closed
    not because of fear of stocks falling .
    yes i love to see them die whan they loose there money on stocks and furtures.

    the 13 amendment is another one they just forgot in total .
    on the waves joao
    joao paying for goods and lack of servises is why i moved my business out of brasil .
    and set up else where , so brasil lost
    123 derict jobs
    300 or so out sorce jobs
    $78,000 in taxes business.
    $157.000 in import taxes
    $22.ooo in property tax

    and no telling how much in bribe money i saved from not doing business in brasil
    of corse there would be all the little hand out for ibama , sudama , water , navy , reita fedrail ,and any other
    thife with a badge to come along or a post d SSN/CPF and make my own pasport as a citisen of the world
    with no tyes to any country , and not having to answer to any of there laws .but the laws of nature .
    and live by simple rules

    am about to toss my pasport an

  • João da Silva

    Simpleton
    [quote]Avoiding paying taxes both places is something the governments need to work on or I’m gonna do a F.A.B. on both their @sses.[/quote]

    The only way you can avoid taxes here, my friend, is a)Not to have a job b)Not to have a bank account (deal only with cash) c) Not to have a C.P.F d) Not to file your Income Tax Returns e)Not to have any property in your name e) or Be a lawyer.

    In spite of following the above advice, still you will end up paying heavy Federal and State taxes, if you buy goods and services.

    [quote]I wish a couple of our good Brazillian friends who are not kids could understand this[/quote]

    Our good Brazilian friends do understand. But our governments since 1985 have not understood it 🙁

  • João da Silva

    Forrest
    [quote]did you go to the site above .[/quote]

    Yes, I did .But there are so many tit bits of info that really I did not know which story you were referring to. If you were talking about the Chinese, yes, they were interesting too!

    As for RAÀ‚´s plan, it is a good one, though if you recall, I was skeptical about the Chinese willing to pump in $200 B. BTW, his plan is much better than the one of our ministers came out with. In fact, I sent that link to RA and he did not agree with that plan-nor did I.

    You are on the high seas or haven’t left the port yet?

  • Simpleton

    Do-si-Do
    Bovespa and other world markets sink 6 % while US markets are closed, US gov interdicts with 0.75% short term interest rate cut, Bovespa recovers 4 %, DOW closes down 1%, NASDAQ down 2%, BRL advances 2.02 % against the dollar, my net worth (which I thought was more or less completely dependant on the US markets) ends the day up 0.5%. Time to wonder where it is cold, and how where and when to worry about sneezes (ch.c variety). Avoiding paying taxes both places is something the governments need to work on or I’m gonna do a F.A.B. on both their @sses.

  • Simpleton

    Good advice – treinamento minimo
    “Do not spend more than you earn” – although you did state that it is not practiced anymore, I wish a couple of our good Brazillian friends who are not kids could understand this – after all, it’s expressed in their native language.

  • forrest allen brown

    hay joao
    i should have said it the way i live
    i am responsable for my own actions and it is up to me too get out of the things i get my self into .

    the goverment of the US is too big and trys to have its hands in every aspect of your day to day life and your bank account

    that is why i have no bank in the US and pay no tax as they waste more money than they can print on there own self intrest

    did you go to the site above .

  • João da Silva

    Teacher
    [quote]Capt. Brown wrote: “i do not like the fact that people over spend and then expect the US goverment to bail them out . ” [/quote]

    I have to differ from Capt.Brown. His comment should have been ” I do not like the fact that people over spend and expect OTHERS to bail them out”.

    We have a famous saying in Portuguese (which of course is not being practiced anymore):

    “NÀƒ£o gaste mais do que arrecada” (Do not spend more than you earn).

    Since you are a teacher, it is a nice thing to teach the kids.

  • forrest allen brown

    AND rm WANTS THIES PEOPLE TO INVEST 200 MILLION IN BRASIL
    http://www.freerepublic.com/focus/f-news
    first to go in brasil would be all the politicans as you can be put to death in china for any thing

    you got to love wall mart

  • João da Silva

    Forest
    [quote]about 850 s/sw of the big island [/quote]

    I got it. But I think it should read “about 850 N/NE of the big island, unless you refer to Easter Island as the “big one”.

    Regardless I suggest you ride out the recession on the high seas or stay put on those South Pacific Islands 🙁

  • John T

    Paper money is the problem
    Paper money is the culprit. Fiat Money, yet another infringement on our rights by the gov’t. Add it to the ever-growing list of violations:
    They violate the 1st Amendment by opening mail, caging demonstrators and banning books like “America Deceived” from Amazon.
    They violate the 2nd Amendment by confiscating guns during Katrina.
    They violate the 4th Amendment by conducting warrant-less wiretaps.
    They violate the 5th and 6th Amendment by suspending habeas corpus.
    They violate the 8th Amendment by torturing.
    They violate the entire Constitution by starting 2 illegal wars based on lies and on behalf of a foriegn gov’t.
    Support Dr. Ron Paul and save the US.
    Last link (unless Google Books caves to the gov’t and drops the title):
    http://www.iuniverse.com/bookstore/book_detail.asp?&isbn=0-595-38523-0

  • Teacher

    RE: TRUTH HURTS
    Capt. Brown wrote: “i do not like the fact that people over spend and then expect the US goverment to bail them out . “

    When you say people, could you possibly be referring to the Brazilian government and all the others that the US bails out repeatedly. The goverment up there isn’t bailing anybody out: You lost your house, tough shit. You also lost your credit and won’t be buying another house any time soon.

    Dow Drops 465 Then Gains Most of It Back
    Tuesday January 22, 1:21 pm ET

    All the girlies on the planet decided to panic on a Monday when our markets are closed. Our markets will close today like any other day. I hope all the people who continue to whine about the US economy took a loss yesterday.

    When these “gambling” Americans were buying those homes 10 years ago the world said nothing about all the capital flying around the US economy, and thus helping all the fragile little economies of the world stay healthy.

    One word we never here in the States, be it for saving some country’s ass or for producing an economy that carries the world on a consistent, historical basis: “Thanks”.

  • forrest allen brown

    you got it joao
    about 850 s/sw of the big island

  • yrk

    america is sinking
    see the title

  • João da Silva

    Forrest
    [quote]i am at pitcaren island going to tonga[/quote]

    The island of “Mutiny on the Bounty”? Now I have to look up the Google Earth to see where Tonga is.

    Safe sailing and beware of the ghosts of Fletcher Christian and Bill Bligh 😉

  • eagle

    back to you lulu
    brazil,s export to the u.s.a.,,, illegal brazilians,, will soon be “returned to sender”,,as most americans find them a economic liability… NO THANKS BRAZIL,, THEIR YOUR CITIZENS,, YOU CAN SUPPORT THEM…..

  • forrest allen brown

    TRUTH HURTS
    OPEN your mind and look around

    if the US keeps going like it is the world will be in a full ression by the end of 08

    you blame bush for this but it goes back to cliton not spending for 8 to make the US even but left
    it week in the eyes of the world
    we were attacited 9 times by the powers of evil and no reaction but dont do that again .

    i do not like the fact that people over spend and then expect the US goverment to bail them out .
    i dont like the fact theat ever day on US TV they have adds saying if you have $10,000 in CC dept we can
    settle it for pennys on the $1.00 .
    give people the idea to spend , more than they can afford
    congress is no hepl as they spend us into a ression and point the finger to the bush and say it is him

    costa if you think you can get within 1.000 meters of my boat and live come on !!!!!

    i am at pitcaren island going to tonga

  • Peter Pan

    I agree..
    It is not possible,” Lula argued, “that people who do not own a house in the United States, people who didn’t apply for any mortgage pay for the irresponsibility of some who decided to make money the easy way, as if they were placing their bets in a casino.”

    Yes it is….The US rewards people like this and of course we all have to pay for it.

  • f.a.b.
    When you go to sleep, I am going to tie an anchor on your big toe. Happy diving!

    Costa

  • forrest allen brown

    yes it will LULA
    Look at what has happend as of today
    look at last weeks numbers .

    still goes to show if the US snezzes the world gets the cold

    oil droped to 87 a barrell price at the pump will fall later .in the US will it drop in brasil dont think so
    the rich will use the poor to keep there money

    later RA when china looks to see it has the biggest building boom in history going on ,
    only to find it has lost close to 2 million farmers to the building trades along with there familys
    the slums will grow there as they are in brasil statring a sub culture living off robing toutits .
    selling drugs , there young girls , and history .

    THE HOLE WORLD IS IN THIS BOAT
    BETTER START LEARNING TO SWIM

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