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Impeaching A Brazilian President In 5 Easy Steps
Make no mistake, we’ve been tough on South America’s most important economy lately.
Here is a representative sample of our most recent Brazil-related stories:
- Brazil's Economy Slides Into Depression, And Now Olympians Will Be Swimming In Feces
- Brazil Retail Sales Drop Most On Record, Goldman Warns Will Get Worse
- Just As Brazil Hits Rock Bottom, Things Are About To Get Even Worse
- Brazil's President Dilma Rousseff Approval Rating Crashes To 8% - Worst Since Military Dictatorship
- Is This Country Latin America's Next "Argentina"
Even if you came in knowing absolutely nothing about the country’s myriad economic, social, and political problems, those headlines alone should be enough to give you an idea of how truly perilous the situation has become. In short, Brazil is at the center of a great EM unwind catalyzed by slowing demand from China, falling commodity prices, and the threat of a Fed rate hike. Beijing’s move to devalue the yuan this week only served to exacerbate the problem.
And while the country struggles to cope with the worst stagflationary nightmare in a decade while simultaneously staring down twin deficits (on the budget and current account), embattled President Dilma Rousseff is now Brazil's most unpopular democratically elected president since a military dictatorship ended in 1985, with an approval rating of just 8%.
On the economic front, the situation is pretty much intractable and as Goldman recently noted, all roads now lead to further BRL devaluation. A downgrade to junk is probably just around the corner. For the visually inclined, here are two graphics which illustrate the stagflationary sinkhole and the deficit debacle:
The political situation is equally desperate although fortunately, there’s a quick fix for that: impeachment.
With Rousseff facing a litany of accusations which, as Bloomberg notes, range from "doctoring last year’s fiscal accounts to being negligent while chairman of Petrobras," we present a step-by-step guide to impeaching a Brazilian president:
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eff Brazil ... how about impeaching our GIC ? (golfer-in-chief)
Only if he screws over the mega-banks, other than that, he's shiny.....
You mean as long as he does what the jews tell him
Impeachment, yaz...
So how is that working out for Venezuela?
Now those folks have some issues with their gubbermint.
If only those evil capitalists would stop undermining the Government the socialist utopia would flourish.....hahaha.
< Brazil is the next Argentina or Venezuela.
< Brazil is the next Detroit.
Tough choice, but I went with Venezuela...
A free market capitalism financial system governed by a Constitutional Republic is the only soil in which freedom and prosperity for all can grow.
You know it's bad when the military doesn't even want the job.
It was not long ago when the mil was in charge. Today, for the most part, the command and control structure of the old guard remains. Speaking with the old dogs at the various metro termas, they have about had it with the socialists and communists.
"Impeach"?
You're way too kind.
Good one, but I think Obama is more Goofy than a Golfer. Could it be GIC (Goofer-in-chief)? He goofs up on American policies and Americans pay for it. Oh silly Obama goofs at golfing too. He's a wannabe golfer too.
Aren't you tired of this bullshit yet?
Brazil needs nuclear weapons.
If good for Iran, why not Brazil too?
Would like to see the same plan in the USA.
The Economy will be easy to turn around..the corruption will never stop...that is the problem
Right...corruption is endemic in that country, biggest pigsty of course is Petrobras.
they still have some of the hotest girls on the planet
Tyler posted a blonde bombshell here:
http://www.zerohedge.com/news/2015-08-11/just-brazil-hits-rock-bottom-th...
Wow. The former marxist revolutionary, and guerilla fighter, who became the Brazilian president detroyed her country like clockwork. Whocouldanode it?
https://search.yahoo.com/yhs/search?p=rousseff+marxist+pictures&ei=UTF-8...
What is t that all these collapsing countries have in common? What one thing is there that continues to weigh on and drag down their eCONomies? Could it be the massive amount of debt they acquired over the years? Nah, it must be something else.
Maybe advice from Goldman Sachs?
Save this lesson for when we need to impeach Hitlery.
What about the impeachment of the moron in WH?
Why are you bothered by Brazil?
I don't understand why she feels she has to take the blame here? Doesn't Brazil have an opposing conservative party to place all blame on? Obviously, there are sexists opposing her because they cannot stand being governed by a woman. Ooooh, ooooh, or foreign speculators, one of those should do..
Make her Bath is her own feces, thats right, she does anyway.
Ah, for the good old days, when emperors and kings would be stabbed or poisoned by associates, or when you could storm a castle where they were hiding...
Dilma Rousseff and Cristina Fernández de Kirchner are both Jews and both leftists. Both have had critics who were mysteriously murdered.
Lula handpicked Rousseff. Lula was the President who said that all of the economic problems of the world was due to blue-eyed people.
Argentina I don't care for, but Brazil has a great potential, of course the problem is they have an increasing demographic skew that prohibits it. Also the government is against the White population.
Like America, this will all end in tears...
Ann Coulter Right, Fred Reed Wrong, On Mexico’s Age Of Consent (And Litter)
Can we just stick to the smokin hottie Brazillian pics please.
Looks like our 'economic hitmen' are doing a nice job, perhaps the jackals won't be needed in this regime change op?
This woman is clearly a twit, but Brazil is the most decentralized country in the world...we'll see if they pull it off.
http://www.academia.edu/208068/Which_Way_The_Politics_of_Decentralizatio...
"Brazil is the most decentralized country in the world"
It's also one of the most corporatist largely run by big industry oligarchs with slimeball political elites in their pockets taking bribes.
Petrobrás is the tip of the iceberg.
bushit, pure bulshit...
Those are five easy steps, but the context around it is relatively more complicated. Opposition parties can't get their heads together in unity to agree on impeachment, as they try to assemble popular support. Also, at the lower house, Eduardo Cunha is close to being caught in the midst of the "Car Wash" graft scandal. One of the plea bargains (from Julio Camargo) declared on record that Cunha demanded R$5mi (around US$1.35mi) in kickbacks in some sleezy face-to-face hotel meeting. If he can't manage to get out of this mess, he's expected to be indicted by the end of this month and may be removed from office.
As we Brazilians have come to know and appreciate him, "Cunha Underwood" is a top influential figure, with allegedly hundreds of state representatives under his wing. If he's removed, there's no telling who's going replace him.
Welcome to Brazil. Political crisis at its best.