Damn!!! What else can one say? Does it get any uglier than this? I mentioned Brazil in a previous report posted at Seeking Alpha and I think this Bloomberg video (see below) only underscores it. Hopefully, the economic turmoil will stay contained and not spread to other parts of Latin America. Venezuela is already a hot mess, while Argentina is bouncing back from a sovereign default and just beginning to implement its own “tough-love” reforms.
I’m really not liking Latin America these days and would prefer to see some green shoots of stability take root there before investing.