NYT – Foreigners Follow Money to Booming Brazil, Land of $35 Martini

http://www.nytimes.com/2011/08/13/world/americas/13brazil.html?pagewanted=1&ref=americas

“One particular shock for newcomers is the strength of Brazil’s currency, the real. That may help Brazilians snapping up apartments in places like South Beach in Miami, where properties cost about a third of their equivalents in Rio’s exclusive districts. But it also hurts the country’s manufacturers and exporters.

So in a bid to prevent it from going even higher, Brazil is now one of the biggest buyers of United States Treasury securities, becoming a larger stakeholder in the ailing American economy. That is a sharp break from the past, when Washington helped cobble together bailout packages for Brazil’s financial crises.”

 

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One thought on “NYT – Foreigners Follow Money to Booming Brazil, Land of $35 Martini

  1. Ana Alves Post author

    Of course, everyone knows – or should know – that the price of the Big Mac is NOT a good indicator of inflation in Brazil, since McDonald in Brazil is NOT meant for the lower classes as it is in the US. If you want to know how the lower classes are affected by inflation check up the price of the French break – a stable in every Brazilian table.

    Reply

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