The Emergency Meeting

The Economist reports Luiz Inácio Lula da Silva's hand picked successor, Brazilian President Dilma Roussef, has seen her popularity drop in half "after the eruption of nationwide protests involving more than 1m people."  The people are upset over corruption.

In response she "has put forward a five-point plan focused on political reform and investment in long-neglected public services. On July 2nd she sent a list of proposals to the Senate. She wants a consultative referendum on the public financing of campaigns, the abolition of secret ballots in parliament, an overhaul of rules that govern political alliances and a new electoral system (the current one uses an open-list, proportional-representation model for the lower house)"

Our correspondent on the scene, Friends University student Lucas Bariani Machado, tells us from Brazil that some may be skeptical.  He provided us with the YouTube spoof (in Portuguese with English subtitles) below: enjoy!

REUNIÃO DE EMERGÊNCIA

Update:

Lucas offers this video as a 5 minute explanation of "why we are into these protests that you've been aware of lately." 

Santander Takes a Big Writedown on Its Spanish Real estate Loans

10/25/2012
Banco Santander said profit fell after it amassed provisions against real-estate losses in Spain and as economic activity stuttered in some Latin American markets. Dow Jones's Margot Patrick reports:

Bullish Baltic Dry?

September 28 2011: The Baltic Dry index, a measure of the use of the largest ships, has climbed sharply of late while all else is bearish.   In this video, FT investment editor, James Mackintosh,  analyses what this apparently bullish signal tells us about the outlook for the world economy. (3m 29sec)

http://video.ft.com/v/1187399924001/Bullish-Baltic-Dry-

Revalue or else?

October 5 2011: Back in 1971 Richard Nixon risked a trade war to force the rest of the world to devalue the dollar. The US Senate is considering a similar move to force China to revalue the renminbi. Here James Mackintosh, analyses why the world needs the Chinese currency to appreciate much further. (3m 59sec)

http://video.ft.com/v/1202190857001/Revalue-or-else

What China Sees as Its Borders are not What its Neighbors See Them

In this video the Economist reviews the history that has led to suspicions between China and its neighbors that bedevil its boundaries to the east, south and west:




Please note that the Republic of China overthrew the last Chinese dynasty.  When Mao Zedong led the Chinese Communist revolution against the Republic, he eventually conquered the mainland after Japan withdrew.  Chiang Kai-Shek retreated to the island of Taiwan with his government.

Asia's growing economic power.

The Economist shows graphically that Asia is regaining the economic dominance it enjoyed a millennium ago - but it still has some way to go.

The "B" in BRIC is Brazil and Henrique Meirelles is Brazil's Banker

My four favorite central bankers are Thomas Hoerner, Glenn Stevens, Mark J. Carney and Henrique Meirelles.

Henrique Meirelles is the president of Brazil's Central Bank. In this video he has tea with the Economist and says there's no room for complacency despite Brazil's impressive economic performance.

BRIC Solid Growth For the P&Gs of the World

Apr 29 2010: Consumer goods companies are coming back.  Jonathan Birchall in this FT.com video, reports on solid results from Procter & Gamble, Colgate-Palmolive and Unilever, fuelled by demand in emerging markets. (1m 35sec)

The Giant To The South: Prometheus Bound?

In this Financial Times video, Jonathan Wheatley reports on the colossal challenge facing Brazilian farmers and manufacturers because the country lacks the infrastructure, the roads and port facilities, to export its wealth.  (3m 24sec)

May 26 2010

Risk Aversion

Aline van Duyn reports that investors are running away from risk.  Could it be that we are mostly talking about speculators who being subsidized by too cheap money compliments of Chairman Bernanke? 

The BRIC Rally Is Based On Fundamentals

Dominic Elliot told us in the July 27th Wall Street Journal that "the 'BRIC' acronym [was] created in 2001 by a team led by Jim O'Neill, Goldman Sachs Group's chief economist to mean Brazil, Russia, India and China. The bank fashioned the acronym while making a prediction about the speed of growth of the four biggest emerging markets."

In his interview with Mr. O'Neill, you will find his case that their recent spectacular stock market performance is based on fundamentals.