[Marxism] Irrational Exuberance

[Ruthless Critic of All that Exists]

On Thu, Jul 31, 2008 at 11:23 AM, S. Artesian <sartesian at earthlink.net> wrote:

>
> Despite Walter's rapturous praises, the current expansion of the Brazilian
> economy is based on a similar cycle, fed  by the oil price driven increases
> in commodity prices, and will take the country back into another round of
> austerity an immiseration.

"Some economists say a slow down in the rest of the world's economy
could crimp recent growth in Brazil. "But that probability is small,"
says Alfredo Coutiño, the senior economist for Latin America for
Moody's Economy.com. In fact, because Brazil's economy has become so
diversified, the country is less susceptible to a hangover from the
struggling United States economy."

 -- <http://www.nytimes.com/slideshow/2008/07/30/world/20080730BRAZIL_5.html>