Brazilian “Reforms” More of the Same

10.03.2016 • Emerging Markets

From Daily Pro (BRA) – Welcome to the new Brazilian economy. Or is it more of the same? Despite the apparent need for reform, we still see the same old subsidies to big national companies, intervention in the Forex market, corrupt banks, and loose fiscal policy. Repeating an experiment and expecting different results is the definition of insanity. We’ve seen how these policies go – they result in the formation of bubbles and deterioration of investor portfolios.

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