Brazil: Good for them or please don't repeat our mistakes....
Posted Sep 13 2008 11:53pm
Easy credit, plasma screen TV's flowing from the stores, "upgrading" the appliances? Sound familiar? No, not America circa 2005, but Brazil. After years of poverty and economic instability, Brazil is experiencing a economic boom, somewaht reminicent of what we just experienced.
Propped up by government subsidies to the poor, a vibrant construction boom, and healthy exports, Brazil is experiencing an economic boom.
Frankly, I'm a little skeptical. The spectre of easy credit is rife with problems, especially when the collective psyche adopts the mantra that you can finance your way into a class that is by all reasonable limits not realistic, not sustainable. If anything that the Brazillians can learn from their neighbors from the north is, enjoy good economic times, but not too much, don't take advantage and don't take it for granted. When times are good, great. In the end, living simply is best and don't forget about the long term future.
CBS and the Associated Press reveal details about the boom among a slowing U.S. and international economy - check it out.