Brazil’s government has gone beyond embarrassment into full CRISIS state.
Crisis seems to be the fitting description for Brazil today:
corruption crisis, political crisis, economic crisis, health crisis, and education crisis.
“Brazil is in its second year of recession and public accounts are in disarray. Local governments are cutting jobs and delaying payments to state employees for months on end.”
-President Dilma was forced to step aside to fight the impeachment charges, yet she refuses to resign, promising to return to her office after defeating the impeachment.
– Recall Rio de Janeiro declared a “state of public calamity”.
-The beleaguered national currency, the “Real“, is weak and may stoke severe inflation. The talks with creditors will be from a very weak position, and you know how sharks, vultures and other predators react.
-The financial crisis is preventing basic public services receiving required funds. Police stations not getting toilet paper, yet the Olympics are promised to open as scheduled and officials say crisis not a risk at Olympics!
Screen capture show the Real plummeting during recent weeks.
Rio’s Problems Are Growing Worse As The Olympics Get Closer
Last month (16 June 2016) Business Insider reported this image:
Even if there are no risks at the Olympics, what does that mean for the Brazilian citizens?
I can see them resenting the lavish expenditure of taxpayers revenue on the mega sporting events while transportation, hospital, and other social needs failed to receive funds.
Armed military patrols, not to protect the citizens, but to protect the Olympics…
Brazilian economists are aiming for a best hopeful target of 0% growth -which speaks volumes about how deep the negatives are plunging the economy into.
Brazil’s Interim President Michel Temer announced his first measures to try and bring the country back from a crippling recession:
…”it will take 2 or 3 months to get the country out of this crisis.”
Yet, economic professor Silvio Paixao realistically estimates Brazil’s recovery will take years.
Video posted 01 Jul 2016