“As Brazil reels from its worst crisis in decades, President Bolsonaro and his allies are using the prospect of military intervention to protect his grip on power.” Brazil is by far the largest Latin American economy. If you’re like me, you’ve likely flown dozens of times on one of the Embraer commuter jets that regularity service smaller U.S. airports and is manufactured in Brazil. For fun, I bought a little PRLAX (mostly Brazil, Mexico) when it was down 50% YTD late March / early April. After today it will probably be down
only 40%
. Aside from such play money, the stability of Brazil has implications for the U.S.
“ Mr. Bolsonaro also shifted leadership of the pandemic response to another general, Walter Souza Braga Netto, his chief of staff. Sidelined and balking at expanding the use of hydroxychloroquine, a malaria drug promoted by Mr. Bolsonaro that has not been proven effective against the virus, the health minister was replaced. His successor lasted only a few weeks until he resigned, replaced by an army general, Eduardo Pazuello. One former official in the health ministry said the abrupt changes created a sense of chaos within the agency, resulting in weeks of dysfunction and paralysis at the most crucial time — when the country should have been fighting the uncontrolled spread of the virus.”From NYT 6/10/20.
https://www.nytimes.com/2020/06/10/world/americas/bolsonaro-coup-coronavirus-brazil.html
Comments
Than again ... who knows?
I know. Others know. Anyone who reads or knows about our battered system knows.
LA evil actors, like their peers elsewhere, are on the varsity. Not our destructive doofus.