Sunday, May 20, 2012
A bonus post for today, as it's come to my attention that Brazil's economic growth is slowing sharply.
As professor Carlo Pios wrote in The New York Times' "Room for Debate," Brazil's economic influence over the rest of the globe is pretty minor -- but it's yet another warning sign for the global economy.
Since March 1, the Brazilian stock market is off 25 percent, and the Brazilian Real has shed 17 percent of its value against the U.S. dollar.Brazil had rebounded wonderfully -- perhaps too strongly, it now seems -- from the global recession. Since 2010, however, the rate of real growth has been slowing.Together with the recent developments I showed above, Brazil could very well be heading into recession territory by the end of 2012.