Brazil - Another Coup ??

So for the first time in Brazil a president faces impeachment. Dilma Rousseff will have to stand down for 180 days while the process is crried out and her Workers Party will be replaced by a temporary centre-right government. One right wing deputy dedicated his vote to Colonel Carlos Brilhante Ulstra, who lead the military coup in 1964, with US-backing as part of the infamous Operation Condor, paving the way for 21 years of repressive dictatorship. Rousseff, an activist at the time, was among the many tortured by the new regime. Four years ago she became the nation's first female president with 92% public support. But the economy is in a mess, and corruption is rife (as usual). Politicians from all parties have been implicated, including many of Rousseff's opponents, along with wealthy business people, and even a few billionaires have been convicted (something you'd never see in the US). Now Rousseff has been accused of using Petrobas funds for her own party and appointing former president 'Lula' da Silva Chief of Staff simply to protect him from similar charges. When Lula stepped down in 2011 he was the world's most popular leader. But there have been huge protests against Rousseff's leadership, and there have also been demonstrations supporting her, claiming the impeachment amounts to another coup. It's a complicated issue, for sure, but it smells like a set-up to me.

BRICS really have fallen off a cliff, India might emerge as the best of the bunch this rate.

To be fair, China isn't doing that badly, they've just slowed. South Africa's growth is snail like but its in the right direction and the exchange rate is up YTD (closing in on 10% vs the Pound and Dolla which is saying something given the fact that our own Prezzy nearly had his own impeachment). India as you said are doing well enough. Unfortunately Brazil and Russia are really sinking the ship. Should the oil price continue to stabilize you'd think Russia should level out. Can't see Brazil having a similar saving grace until they bottom out though

China is having a shocker and there's more to come. Vultures are already circling and many expect a number of major shockwaves over the next year or two. It's the reasons growth is slowing that's the worry - have said for a long time that the Chinese economy is built of sugar foundations. Now it's starting to rain......

Think Russia will continue to suffer due to sanctions, plus oil prices don't look to be going anyway anytime soon, another agreement has just failed to be reached. Rich Arabs too keen to continue bankrupting everyone else, especially Yank clean energy guys, bit like the Chinese & steel.

The credibility of Brazil’s interim government was rocked on Monday when a senior minister was forced to step aside amid further revelations about the machiavellian plot to impeach president Dilma Rousseff. http://www.theguardian.com/world/2016/may/23/brazil-dilma-rousseff-plot-secret-phone-transcript-impeachment

Democracy is what America says it is...

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