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Brazil, the country of the future |
I have heard this said a thousand times in the 20+ years I have lived here, but now I’m hearing “The future is here.” It seems that pretty much everything has come together. Brazil has always been a big V8 that never ran well. Government after government would try to tweak the V8 to get it running on all 8, but it just never happened. Maybe now they have gotten it right and we will be humming along for years with economic “order and progress”.
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Boom Times for Brazil’s Consumers |
Consumers in the United States are tightening their belts; Brazilians are spending like there’s no word in Portuguese for recession.
Middle-class Americans are surrounded by a rising tide of angst; Brazil’s middle class is growing.
Interest Rates: Still very high, but compared to the last 15 years, are now cheap, plus real incomes have increased. This is the basis for the boom.
- mortgage rate is 12 percent a year over 30 years
- a car loan is about 14 percent to 15 percent up to 7 years
- consumer goods, rates vary between 42 percent and 43 percent on 2 year plans
