Archive for the ‘Brazil’ Category

Brazil: The election was tweeted

Wednesday, October 29th, 2014

After Vote, Brazilians Lash Out on Social Media
A day after President Dilma Rousseff squeaked out a close electoral victory, Brazilian voters vented their frustrations one way they know best: on social media.

Many Neves supporters, hailing largely from Brazil’s wealthier south, joked they would be packing their bags to flee to Miami or Orlando. Some posted images showing Brazil divided into two, with the poorer northeastern states which supported Ms. Rousseff hived off into a separate country.

The reactions underscored the divisiveness of the elections, which were the closest in Brazilian history.

Considering all the factors, it would have taken a miracle from God Himself for Neves to win.

Dilma claims, “I want to be a much better president than I have been until now,” which rather fills me with dread, considering how

Brazil has chosen to warehouse a quarter of its population into welfare serfdom for nothing more than the benefit of leftist parties and their grasp on power.

“Better,” for what?



Brazil: Ibovespa volatility

Tuesday, October 28th, 2014

First Brazil’s stocks tanked,
Ibovespa Tumbles Toward Bear Market as Rousseff’s Win Sinks Real

Brazil’s benchmark equity index led global declines as President Dilma Rousseff’s re-election damped speculation for a change in policies that wiped out $553 billion of stock market value and left the economy in recession.

The Ibovespa (IBOV) dropped 2.8 percent to 50,503.66 at the close of trading, the most among the 20 biggest indexes globally. After tumbling as much as 6.2 percent earlier, approaching the threshold for a bear market, the gauge pared losses as education companies and pulp exporters rallied. The real posted the world’s biggest loss as it sank 1.9 percent to a nine-year low.

After years of weak growth, high inflation and intervention, Dilma’s re-election tanked the currency, too,

The real’s plunge to 2.5224 per dollar put it at the weakest level on a closing basis since April 2005. One-month implied volatility on options for the real, reflecting projected shifts in the currency, was the world’s highest. The currency sank 12 percent in the past three months.

Then why did things rise up again?

“To some extent, markets were already pricing in her victory last week, and that may explain why the reaction to the election results wasn’t as negative as I expected,” Alvaro Marangoni, a partner at Quadrante Investimentos Ltda., said by phone from Sao Paulo. “We’re all waiting to see if policies are adjusted so the economy can recover.”

That’s an optimist, indeed.

The states that opposed Dilma out in the grasslands, soybean farms, cattle ranches and productive and innovative industrial centers down south, went for her free-market opponent. The states with 25% of the population dependent on welfare went for Dilma,

The takers have become politically stronger than the makers

As Monica Showalter of IBD said,

Now Brazil can look forward to not just low growth, but also high protectionist trade walls, more taxes, more corruption, more intrusive government and an increasingly arrogant state.

I was optimistic on Brazil years ago, but no more.

The return of the Carnival of Latin America and the Caribbean

Monday, October 27th, 2014

LatinAmerAfter skipping a week because of unpacking, the Carnival’s back, while the unpacking’s not finished.

Brazil and Uruguay held presidential elections yesterday. Voters went for the same old, same old.

ARGENTINA
Life terms for Argentina jail crimes
An Argentine ex-police chief and ex-interior minister are among 15 people given life sentences for involvement in a torture centre in the 1970s.

BRAZIL
Why is Dilma Hiding Business Deals With Cuba?

Boa sorte, Brasil

Brazil poll shows Neves leading election, at odds with major surveys

Dilma Rousseff’s dizzy spell live on TV after presidential debate
Dilma Rousseff, the president of Brazil, was briefly taken ill on Thursday at the end of a bruising political debate with presidential rival Aecio Neves

In Brazil’s Election, a Stark Vote on the Nation’s Economy

CHILE
Bomb That Killed Man in Chile Meant to Blow Up Prison Guard Building

COLOMBIA
Alexander Beltran Herrera, US judge sentences Farc commander
A US judge has sentenced an ex-Colombian rebel to 27 years in prison for his role in the kidnapping of three American citizens in 2003.

Marcos de Jesus Figueroa, alias “Maquitos Figueroa,” Colombian Drug Lord Captured in Brazil Wanted for 100 Murders

COSTA RICA
Solís a Trojan Horse for Socialism in Costa Rica
Relationships Bloom with Trade Unions, University Students, Chavistas

CUBA
Religious persecution disguised by Castro regime as a crackdown on “criminal” activities

Cuban Ladies In White, other activists arrested as they support political prisoner Sonia Garro

Must-Read: Are Cuba and Brazil Partners in Human Trafficking?

Cuban Docs Should be Banned from Ebola Fight, Restrict US-Cuba Flights

Quote of the day: “I have loved justice and hated iniquity; therefore I die in exile.”

ECUADOR
HRW Criticizes Correa for Applauding Police Abuse During Protests

HONDURAS
Just Say No to Presidential Reelection in Honduras
Too Many “Necessary” Men in Latin America

MEXICO

Mexico’s Burgeoning Wine Scene
Mexico may be best known for its beer and tequila, but that’s slowly changing as its wines are finding their way onto restaurant wine lists and specialist shops.

Amado Yáñez shows up at the burn-out unit (in Spanish):

PANAMA
If Panama’s Anti-Corruption Hunt Continues, Miami Should Watch Out

PARAGUAY
Report Oil Found in Paraguay; Gov’t Cautious

PERU
Health Care Workers in Peru Go on Strike

PUERTO RICO
Puerto Rico needs a financial control board

URUGUAY
POLL NUMBERS!!! Uruguay election this weekend

Uruguay Leader’s Party Fights to Retain Rule After Vote
President José ‘Pepe’ Mujica popularity isn’t enough to guarantee victory for the center-left Broad Front coalition that has ruled for a decade, according to polls and political analysts.

VENEZUELA
Dakazo 2 and Technocrats

How Bad Are Things In Venezuela? It’s Rationing Food – And Importing Oil

Venezuela seizes warehouses packed with medical goods, food

The 61% Devaluation That Venezuela Told No One About

The week’s posts and podcast:
Elections: No change in Brazil, Uruguay

Friday afternoon tap dancing priests

Argentina: Creeping to the edge

Venezuela: Mileposts on the highway to hell

Cuba: NYT goes Duranty on ebola

Venezuela: Happy Halloween! Hugo Chavez M&Ms

Immigration: Obama to allow in 100,000 Haitians with no visas

At Da Tech Guy’s blog:
What may be the most consequential election of the decade

Mexico: The death of #Felina

The curious incident of the Carnival Magic in Belize UPDATED

The Synod and the Pope-A-Dope

In Silvio Canto’s podcast:
The elections in Brazil with Monica Showalter of Investor’s Business Daily.

Posts from the prior week:
In transit, again

Venezuela and the falling oil price UPDATED

Venezuela wins U.N. Council seat

Eichmann’s true nature: 2 reviews of “Eichmann Before Jerusalem: The Unexamined Life of a Mass Murderer”

Mexico: #Ayotzinapa backlash in Mexico Bronco

Could Mexico become the next Russia?



Elections: No change in Brazil, Uruguay

Monday, October 27th, 2014

First Uruguay: Same old, same old, in age and in politics,
Since Pepe Mujica could not run for a second term according to the Uruguayan Constitution, an election took place yesterday, which now goes to a runoff

Leftist ruling coalition candidate Tabare Vazquez led Uruguay’s presidential election on Sunday but he fell short of a first-round victory and will go to a runoff vote next month with the country’s pioneering marijuana bill hanging in the balance.

Vazquez of the Broad Front coalition said as results trickled in that the race would go to a second round and he is likely to face a nerve-jangling contest against young center-right opposition candidate, Luis Lacalle Pou.

Exit polls showed Vazquez winning 44-46 percent of the vote compared with 31-33 percent for Lacalle Pou of the National Party.

The 74 year old Vazquez first was president in 2005, and it looks like he’s going for a rerun. Lacalle Pou is 41.

Also going for a rerun, Brazilians choose to remain “the country of the future”:
Brazil Sticks With Statism
Odds are that the country’s reputation for economic mediocrity is safe for another four years.

Neither Lula nor Ms. Rousseff seem to care about development. According to Goldman Sachs , from 2004-13 government spending grew at almost 8% a year, in real terms, which was more than twice the rate of GDP growth. Inflation is now 7% year-over-year on prices for goods and services not regulated by price controls and 8.6% for services alone. Inflationary expectations are rising.

More worrying is the damage the PT might do to institutions and the rule of law over another 48 months. Civil society here jealously guards civil liberties and pluralism. But as one astute businessman told me, “We are noticing, bit by bit, a trend toward copying Argentina, Bolivia and Ecuador. The tendency is to reduce democracy.” One example is Ms. Rousseff’s May decree empowering “popular councils,” which would move the country away from representative democracy à la Venezuela. Congress has so far refused to approve the measure but if the usual vote-buying goes on, that may change.

To celebrate, Dilma wore a suit that matched the drapes and her politics,

What may be the most consequential election of the decade

Friday, October 24th, 2014

I wrote today on What may be the most consequential election of the decade. Go read it at Da Tech Guy Blog.

In tonight’s podcast at 8PM Eastern,

Wednesday, October 22nd, 2014

and later archived for your listening convenience, The elections in Brazil with Monica Showalter of Investor’s Business Daily.

The Carnival of Latin America and the Caribbean

Tuesday, October 14th, 2014

LatinAmerARGENTINA
Argentine Government Blasts “Speculation” by Grain Exporters

Argentina Creditors’ Lawyers, Mediator to Meet
A court-appointed mediator will meet next week with lawyers representing Argentina and its holdout creditors, the mediator said Friday

BOLIVIA
Morales confident he will win Sunday’s election in all nine Bolivian districts
At an event to mark the closing of his campaign ahead of Sunday’s elections, a self-assured Evo Morales told Bolivians that he will win all over the country and will even take the opposition’s bastions of support in the east.

Bolivia’s election
Happily Evo after
A third term for a “non-stick” leader

BRAZIL
Number of Attacks in Southern Brazil State Rises to 100
The wave of violence, which has left at least three people dead and 41 buses destroyed, has spread to 31 cities in Santa Catarina, whose authorities say the attacks are ordered by a criminal gang from Argentina.


Brazil’s Election Shows How The Left Thrives On Welfare Dependency

The Key Proposals Of Brazil Presidential Hopeful Aécio Neves

Brazil Suspected Ebola Case Tests Negative
A West African man held in isolation at a Rio de Janeiro hospital on suspicion of bringing the deadly Ebola virus to South America has tested negative for the disease, the Health Ministry said Saturday.

CAYMAN ISLANDS
Former Cayman Premier Acquitted

CHILE
Experts Lower Chile’s Growth Forecast to 1.9%

COLOMBIA
Colombia Authorized Guerrilla Leader’s Trips to Cuba

Hours later, President Juan Manuel Santos said that he personally signed off on the trips, which he described as “part of the process, normal.”

Washington Post reporter: White House spin on Cartegena is “demonstrably false”

CUBA
CASTRO’S MOMUMENT
The Castro Legacy: Untold Thousands of Watery Graves

World Bank Touts Cuba’s Communist Education as Exemplary
All the Better to Indoctrinate Students, Exiles Contend

Cuban: I’d Rather Die Trying to Reach Freedom, Than Live on My Knees Living in Tyranny

ECUADOR
El escándalo uruguayo

A Raúl Sendic, candidato vicepresidencial de Uruguay, junto a Tabaré Vásquez, por el movimiento izquierdista Frente Amplio, del presidente José Mujica, le salpicó la “maldición“ del petróleo. Un cuestionado convenio de canje de crudo por derivados entre Ancap/Trafigura/Petroecuador que involucra USD 6.400 millones, empezó a pasar las primeras facturas, en medio de la campaña electoral. El escándalo ampliamente cubierto por la prensa uruguaya, hace referencia al libro Ecuador Made in China, y a una carta remitida al gobierno uruguayo y a varios legisladores de ese país.
. . .
La referida cláusula del Convenio señala que Ecuador proveerá hasta 36000 barriles diarios de crudo, sin embargo en el contrato firmado el mismo día en Montevideo, se estableció la entrega de hasta 100000 barriles diarios, con lo que se violó el Convenio. Incluir un volumen de 100000 barriles día notificaba al más ingenuo que el crudo no estaba destinado a la refinería uruguaya, cuya capacidad máxima, cuando está operativa, es de 50000 barriles día, y de un crudo diferente al ecuatoriano. Al respecto, la Contraloría abona con conclusiones que dejan sin respuesta a los autores del Acuerdo: “se contrató con Ancap, sin que existan estudios técnicos que demuestren los beneficios para el país de una contratación directa”, señala en organismo.

Feminists Weigh In for Chevron in Racketeering-Oil Pollution Case

The Women’s Legal Defense and Education Fund urged the appeals court to rule for Chevron on a highly technical but critical issue. You read that correctly: The nation’s oldest women’s-rights legal advocacy organization, a left-leaning group that helped enact the landmark 1994 Violence Against Women Act and represents victims of sexual harassment and spousal brutality, supports the multinational oil company in its struggle against a crusading lawyer who claims to represent the impoverished and oppressed.

O’Reilly Discusses WFB’s Reporting On Ecuador PR Firm Paying Liberal US Celebrities

EL SALVADOR
El Salvador tries to rein in crime with community policing

IMMIGRATION
FUSION TV LAMENTS ‘UNDOCUMENTED’ WOMEN HAVING HARD TIME GETTING ABORTIONS IN TEXAS

MEXICO
Mexico Arrests Alleged Head of Juárez Drug Cartel
Federal police arrested alleged Juárez drug cartel leader Vicente Carrillo Fuentes in the northern city of Torreón on Thursday, Mexican officials said.
His Arrest Is Seen as Symbolic Amid Police Scandal

Iguala, Mexico and police crimes

NICARAGUA
Russia ban opens opportunities to Iran, Nicaragua

PANAMA
Panama’s National Assembly Ratifies Trade Pact with Mexico

PERU
The Man Behind Peru’s Culinary Ascent
Chef Gastón Acurio Built an Empire With 44 Restaurants in 13 Countries on Ceviche, Guinea Pig and Ethnic Influences

Divide and bribe
Corruption and political fragmentation threaten Peru’s democracy

PUERTO RICO
No More Dunkin’ Donuts for Puerto Rico
Island’s Franchisee Fails to Make Payments, 18 Stores to Close

TRINIDAD TOBAGO
Trinidad and Tobago Mulls Postponing Carnival over Ebola Fears

URUGUAY
Uruguay Welcomes First Group of 42 Syrian Refugees

VENEZUELA
Wouldn’t it be better if they had done this while Maduro was speakinVenezuela: Exxon wins $1.6 billion settlementg at the UN? UN urges Venezuela to release dissenter leader Leopoldo López
The Working Group on Arbitrary Detention of the United Nations (UN) described as illegal the actions of the Venezuelan authorities in the proceedings against the political opposition leader for the events of February 12

Venezuela: a land of political killings and gang turf wars
Politician Robert Serra was murdered in his home
The grisly murder of a young politician and killing of a pro-regime militia leader in police shoot-out signal a bloody power struggle for the legacy of Hugo Chavez, writes Phillip Sherwell

Miami Venezuelans vs. Mary Landrieu

The week’s posts and podcast:
Why Venezuela should not have a seat at the UN Security Council

Could capitalism save the Arabs?

Mexico: Government paying its citizens to avoid deportation from U.S.

Venezuela: Exxon wins $1.6 billion settlement

No More Che Day

4 ISIS Terrorists Arrested in Texas

Mexico: 43 students missing since September 26

Brazil: Aécio’s plan is the economy

At Da Tech Guy Blog:
Why bother covering up the Cartagena, Colombia, prostitution scandal?

Ecuador’s “dirty hand,” and Mia Farrow’s greased palm

Podcast:
US-Latin America stories of the week.

Brazil: Aécio’s plan is the economy

Tuesday, October 7th, 2014

In the wake of Dilma’s dismal administration, Aécio Neves will campaign until the Oct. 26 run-off against failing state-run economics. He has Marina Silva’s backing:

Brazil Candidate to Hit Rival on Economy
Brazil’s pro-business candidate Aécio Neves plans to hammer the state-centric economic policies of his rival, President Dilma Rousseff, before their Oct. 26 electoral showdown.

While blaming the president for Brazil’s 6.5% inflation rate, stagnant growth and lackluster productivity, Mr. Neves will tout his achievements as a former two-term governor of prosperous Minas Gerais state, taking credit for rescuing it from near-bankruptcy by cutting expenses and boosting revenue under a program dubbed “management shock.”

And he will criticize a series of scandals that have tarnished Ms. Rousseff’s center-left Workers’ Party, or PT, which has dominated Brazilian politics for 12 years, including alleged widespread corruption and cronyism at state-owned companies like oil giant Petrobras.

From commenter N,

there are some interesting voting maps around (on the web) showing that Dilma Roussef’s votes correlate almost perfectly with he number of people receiving federal government’s handouts.

Neves has his work cut out for him,

Ms. Rousseff starts the runoff as the favorite given the leftist drift of Brazilian politics, but Mr. Neves has a chance if he can convince voters that her policies are responsible for Brazil’s current malaise and that he has a better agenda. Brazil’s populist, redistributionist policies have squandered its potential for decades, and more of the same for another four years won’t bring the change the country needs.

I wish him luck.



The Top Gear Carnival of Latin America and the Caribbean

Monday, October 6th, 2014

The Top Gear lads got ‘chased by thousands and ordered out of country’

“When we saw people on Twitter getting upset we took the plate off. But they still attacked us so we made a break for it to our hotel in Ushuaia.

“The mob just descended on the hotel and encircled us. State representatives came and ordered us out of the country.”

Here’s the car that caused the fracas,

Video of the police escorting them.

ARGENTINA
Barcelona star Lionel Messi to face tax evasion trial
Barcelona and Argentina star Lionel Messi is to face trial for alleged tax evasion, a Spanish judge has ruled.

Argentina central bank governor resigns amid economic woes
Argentina’s central bank governor Juan Carlos Fabrega has resigned after less than a year in office.

BOLIVIA
Bolivian Couple Arrested in Argentina Accused of Killing Their Daughter

BRAZIL
With election Sunday, Brazil deals with oil scandal
With election Sunday, Brazil deals with oil scandal
Corruption charges in a refinery project complicate the race for the ruling party
.

They include corruption, political machinations with the state-controlled oil company, and delays and overspending on a multibillion-dollar oil refinery that Brazil needs desperately.

CARIBBEAN
20141004_AMC803PetroCaribe and the Caribbean
Single point of failure
Venezuela’s financing programme leaves many Caribbean countries vulnerable

CHILE
Extreme skiers Auclair and Fransson die in Chile avalanche
Police in Chile have found the bodies of two extreme skiers who had been missing since an avalanche struck a mountain in southern Chile on Tuesday.

COLOMBIA
Colombian Attorney General Says Conflict Cases Could Be Shelved

Prince Charles and Camilla to Visit Colombia and Mexico

Who will save Bogota?

CUBA
Keep Cuba out of hemispheric summits

Prosecutors seek 5-year prison term for Cuban opposition activist Ciro Alexis Casanova

Fraternal Relations, Part III

ECUADOR
The Dark Side of Green Justice
Review: ‘Law of the Jungle’ by Paul Barrett

HAITI
Former Haiti president Duvalier diesJean-Claude Duvalier
Haiti’s notorious former ruler Jean-Claude “Baby Doc” Duvalier has died of a heart attack in the capital Port-au-Prince, reports quoting official sources say.

JAMAICA
Jamaica Gets Help Preparing for Possible Ebola Cases

MEXICO
Leader of Cartel Is Captured
The leader of one of Mexico’s largest cartels, Héctor Beltrán-Leyva of the Beltrán-Leyva gang, has been captured, the authorities said Wednesday night, giving President Enrique Peña Nieto another high-profile victory against organized crime.

Indeed, How Dare We Leave Andrew Tahmooressi Behind?

PANAMA
Is Panama’s President Being Coerced by Cuba’s Regime?

1,400 Cops Occupy Unruly Panamanian Prison

Panama President Demands That Judge Explain Growing Wealth

PARAGUAY
Rutherford B. Hayes: An OK President but a hero in Paraguay

Hayes agreed to negotiate a long-held border dispute between Argentina and Paraguay, and the decision gave the nation 60 percent of its land.

PERU
Spanish Speleologist in Hospital after 12 Days in Peruvian Cave

PUERTO RICO
Puerto Rico Offers Itself as a Gateway to U.S. Market, Official Says

VENEZUELA
Venezuela Oil Price Continues Tumbling
Venezuela’s Ministry of Energy and Petroleum reports that the average price of Venezuelan crude sold by Petroleos de Venezuela S.A. (PDVSA) during the week ending October 3 fell to its lowest price since January of 2011. The Latin American Herald Tribune notes that the Ministry continues to post an inaccurate average for the year and reduced the average price for the whole of 2013 by $1.41 without explanation

Venezuela: Lawmaker Killed in His Home, Police Say
A day after Robert Serra, a rising star in Venezuela’s governing party, was stabbed to death in his home, officials said Thursday that it was a carefully planned murder.

The week’s posts and podcasts:
Brazil: Aécio goes to the runoff

Argentina: Top Gear fracas

Brazil: More of the same?

En español: El Alcalde de Iguala en la UdQ

Argentina: Hoping it’s hit rock bottom

Cuba: Risky business

Taxes, and a book

Brazil: Dilma up in the polls

En español: Últimas noticias del idiota iberoamericano

Venezuela: Why the military won’t rise up

At Da Tech Guy Blog:
I’m a tax exile, and proud of it

And now for something completely different: A book on Cuban history

The week’s podcast:
Let’s chat with Alina Garcia-Lapuerta, author of “La Belle Creole”

Brazil: Aécio goes to the runoff

Monday, October 6th, 2014

While the local and international press were busy talking about Marina Silva, voters were looking at pro-market senator Aécio Neves:

Brazilian Challenger Faces Tough Task in Presidential Runoff
Economist Who Overcame Popular Upstart Will Try to Woo Poorer Voters

Mr. Neves has said he would go after Ms. Rousseff on what he considers her vulnerability: Brazil’s struggling economy. He has vowed to slash government ministries, simplify Brazil’s tax code and tackle inflation.

Popular with investors and businessmen, Mr. Neves has said that, if elected, he would appoint respected economist Arminio Fraga, the former head of the central bank, to be his finance minister.

The reason for Neves’s ascendance?

the economy is undergoing a wrenching U-turn. Brazil slipped into recession this year after four years of stagnation, and inflation is on the rise. The state-owned oil company Petróleo Brasileiro SA is mired in alleged embezzlement and other scandals. Since Ms. Rousseff took office, the real has lost a third of its value against the dollar and the stock market is down by 21%.

Silva was Dilma-light, and Dilma promises “More Changes, More Future.”

The question is, Does Aécio have the personality to sway the uneducated, low-information, low-income voter?