The Brazilian protests, which swept through the country with the raging bear market (and the pulled mega-IPO [5]) over the past week, and which had the goal of reducing a recent bus-fare increase among other assorted protest goals, appear to have succeeded. At least when it comes to the fare increase. As for the other protester demands, listed below, it may take a little longer.
AP reports:
Brazilian leaders in Sao Paulo say they are reversing a 10-cent hike in bus and subway fares that has sparked widespread protests across the nation.
Sao Paulo Mayor Fernando Haddad and Sao Paulo state Gov. Geraldo Alckmin said at a joint news conference Wednesday that the fare increase is now reversed.
However, it was not clear what impact the action would have on the protests that have broken out in several Brazilian cities.
The protests have evolved into communal outcries that have moved well beyond the original demand that public transportation fares be lowered.
Protests are continuing in Rio's sister city Niteroi and in northeastern Brazil.
The good news: protests still work in some cases. The bad news: a 10 cent fare increase is a far more manageable issue to resolve than corruption, violence, police repression, and corrupt politicians which are some of the other protest causes.
[6]
Then again, at least the Brazilians are protesting for change: in the US, one only has to consider the epic indignation that the recent NSA spying scandal has unleashed and the mass throngs of people demanding a return of their constitutional rights. Oh wait...