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The prominent U.S. linguist, political analyst and writer slammed the elite in Brazil, saying they carried out a soft coup against the democratically elected president.
Brazilian President Dilma Rousseff is the only leading politician in the country that has not engaged in theft to enrich herself but has been “impeached by a gang of thieves” through a “soft coup” led by the opposition parties in the country, renowned linguist and political commentator Noam Chomsky said in an interview with Democracy Now! on Tuesday.
In a vote whose outcome was largely expected, moments ago the Brazilian Senate concluded a marathon 21 hour session with a 55 to 22 vote to suspend President Dilma Rousseff from office to face an impeachment trial, ushering in a new government to take command of Latin America’s largest economy. Rousseff will be tried on allegations she illegally doctored fiscal accounts to mask the size of the budget deficit.
When officially notified later on Thursday morning, Brazil’s first woman president will be suspended, ending 13 years of rule by the leftist Workers Party, and the “market friendly” Vice President Michel Temer will become acting president during her trial.
The latest numbers coming out of Brazil confirm what Goldman Sachs said last December: “What started as a recession … is now mutating into an outright economic depression, given the deep contraction of domestic demand.”
Translation: President Dilma Rousseff’s attempt to stimulate the slowing economy via massive insertions of new debt has in fact had the opposite result.
Consumers have cut back by more than eight percent across the board, while investment spending has declined more than 10 percent last year, with cumulative capital spending down by 21 percent in the last two-and-a-half years. And there appears to be no end in sight. In Rio de Janeiro alone, 1,200 small businesses have already closed thanks to rising costs and slowing sales. Unemployment is now at 16.5 percent and the real, Brazil’s currency, has lost a quarter of its value against the dollar just in the last 12 months.
Update: Confusion abounds as the government is now said to delay Lula’s appointment after Senator Delcidio Amaral’s plea bargain. According to Veja, Rousseff’s former chief of staff Aloizio Mercadante allegedly offered financial, political and legal aid in exchange for Amaral’s silence.
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Just last week, the BRL was riding high on news that former President Luiz Inácio Lula da Silva was detained in connection with money laundering. He was then charged with corruption by state prosecutors. The market hoped his arrest and possible prosecution would give momentum to the effort to impeach Rousseff. Then, in a dramatic turn of events, Rousseff invited Lula to accept a ministry post yesterday. Initially, reports indicated he would resist the idea of accepting, but that soon changed.
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– Hundreds Of Thousands Take To The Streets In Brazil Demanding President’s Impeachment (ZeroHedge, Aug 16, 2015)
– Brazil’s President Dilma Rousseff Approval Rating Crashes To 8% – Worst Since Military Dictatorship (ZeroHedge, Aug 10, 2015):
With the economy imploding, currency collapsing, and credit risk soaring, it is perhaps no surprise that just under a year since she was re-elected, Brazil’s President Dilma Rousseff is now Brazil’s most unpopular democratically elected president since a military dictatorship ended in 1985, with an approval rating of just 8%. In a recent poll, 71% said they disapprove of the way Rousseff is doing her job… and two-thirds would like to see her impeached.
Via The Digital Journal,
Dilma Rousseff is now Brazil’s most unpopular democratically elected president since a military dictatorship ended in 1985, says a poll out Thursday that put her approval rating at eight percent.