Tuesday, August 18, 2015

The people are marching again in Brazil

(My new American Thinker post)

Brazilians are out in the streets again, and it has nothing to do with a "fútbol" game.  The marches are signs that many Brazilians are fed up with the corruption in the current administration.

This is from BBC News:
Hundreds of thousands of people have taken part in protests across Brazil calling for the impeachment of President Dilma Rousseff.
Support for Ms Rousseff has fallen to single-digit figures in recent polls.
Many voters have accused her of failing to stamp out corruption and blame her for the economy's worst slump in 25 years.
Marchers took over Copacabana beach in Rio and also demonstrated outside congress in the capital Brasilia.
Many wore the yellow shirts of the Brazilian football team, and sang the national anthem, carrying banners saying "Dilma Out".
About 350,000 people took part in protests in Sao Paulo, police say.
Another 25,000 people took part in a demonstration in the capital, Brasilia.
We understand the frustration.  The economy has hit a wall, and people are angry.  

However, Brazil has a bigger problem than the current administration.   

For years, Brazil has been exhibit A of crony capitalism, or that corrupt relationship between big business and the politicians they dine with.  It's the same next door in Argentina!

The bad news is that crony capitalism will hang around Brazil because some people are doing very well at the top of the private and public sectors.  

The good news is that crony capitalism is failing, and maybe people will finally see the light, as Nick Sorrentino wrote recently:
Overall, 2015 has seen setbacks for left-leaning heads of state across South America as a general downward trend in global commodity prices has reverberated in the region’s economies. Violent protests have returned to Venezuela, where some protesters call for the resignation of President Nicolás Maduro.
Even Evo Morales, freshly re-elected to a third term and a second decade as president, has recently found his party’s influence reduced in regional elections.
Maybe these marches in Brazil are signs of a populist Tea Party-type revival. 

I hope so, because Brazil has all of the ingredients to be an economic superpower.  

It only lacks a transparent government and the rule of law!

P.S. You can listen to my show (Canto Talk) and follow me on Twitter.

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