Brazil president finds 'risk free' US economy laughable

[Judi Lynn]

Source: Associated Press

Brazil president finds 'risk free' US economy laughable



May 9, 2008 5:08 PM

BRASILIA, Brazil (AP) - President Luiz Inacio Lula da Silva marveled at America's ''zero risk'' financial rating on Friday, raising some laughs as he wondered how ratings agencies could call the troubled U.S. economy perfectly safe.



''I'm amazed to see that the American risk is zero. It's in a miserable crisis, and there's no risk,'' Silva said, drawing chuckles from a crowd at the inauguration of a gas pipeline in Espirito Santo state.

''Brazil's risk, Russia's risk increase, but the Americans, who are in debt up to here, have zero risk,'' Silva said. ''It's an invention of the ratings agencies, that's what I think.''

Last month, Standard & Poor's Ratings Services raised Brazil's debt rating to investment grade, a benchmark long awaited by Latin America's largest country. The country's decades-old debt crisis is over, and Brazil has emerged as a net foreign creditor.

''Brazil is living a magic moment,'' Silva said. ''With this long-term growth, we are building the solid bases of a highly industrialized country.''


Read more: http://www.newspress.com/Top/Article/article.jsp?Section=BUSINESS&ID=565295216287154194

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[glowing]

1. This country is a joke.. the people of the world are mocking us... and

perhaps its about damn time this country gets knocked down.. then maybe we wouldn't cause so much damage.

[bbinacan]

2. I think you should

move to Brazil.

[htuttle]

3. We're already living in a different sort of 'Brazil' here

Brazil, when stars were entertaining June,
We stood beneath an amber moon
And softly murmured someday soon...
We kissed and clung together

Then - tomorrow was another day
The morning found us miles away
With still a million things to say.
And now, when twilight dims the skies above
Recalling thrills of our love
There's one thing I'm certain of...
Return, I will, to old Brazil.

Brazil, when stars were entertaining June,
We stood beneath an amber moon
And softly murmured someday soon...
We kissed and clung together

Then - tomorrow was another day
The morning found us miles away
With still a million things to say.
And now when twilight dims the skies above
Recalling thrills of our love there's one thing
I'm certain of... Return, I will, to old Brazil.

[DBoon]

8. or a more real Brazil from the recent past

A country with a wealthy elite and impoverished masses

A country run by a military dictatorship where opponents are shot

http://en.wikipedia.org/wiki/History_of_Brazil_(1964%E2%80%931985)

[glowing]

9. I probably wouldn't meet their qualifications for moving to the country.

Most countries have strict guidelines.. I'd love to visit. I'm not stupid.. I know south america has had just as many problems as north amrerica.. and you know a lot of times north influenced what happened in the south.

Anyway, as far as moving out of this country, I'd love to frankly. There is a short list of countries I have that are far more progressive than the USA. Is it possible, I doubt it. Perhaps one day when I can save up for a vacation (and I doubt that's anytime soon), I could at least visit. (I'm not really a border person--I recognize that this is how we exist today, perhaps in the future people will decide that nationality isn't really all that ideal if humanity is to exist in peace, equality, and liberty).

[Deja Q]

5. Well, if the politicians and corporate execs are in bed together and we're a globalized economy,

then who will be mocking whom?

[gateley]

4. Yes - we HAVE become the laughing stock.

Yet another reason why we need someone in the WH to help begin to heal our relationships worldwide.

I remember after high school when friends would head on over to bumb around Europe. They put a Canadian flag on their backpacks because Americans weren't regarded that highly because of Viet Nam.

If I were to go to Europe now, I'd probably tell people I was Canadian, too.

[melody]

10. The story about American kids putting Canadian flags on their backpacks was made up

A Canadian journalist has already admitted inventing it.

I can't imagine the vast majority of Americans EVER doing that. I'd simply not go to Europe rather than refuse my people.

[crimsonblue]

6. The thing is...

the US can probably go as deep into the hole as 12-15 trillion and still be okay. The US is the largest trading partner in the world, and the sheer volume of trade keeps its rating well intact. The US has huge natural gas, coal, and oil reserves, plus the world's best military which act as effective hedges on a macro scale. Barring another depression (which may be around the corner if Bush's 3rd term happens), the US is perfectly fine in the long run to absorb short run hits. The naysayers are always screaming chicken little at the first sign of trouble.

[Usrename]

7. We're a banana republic.

With our own despot and our own devalued currency and everything.

[Dreamer Tatum]

11. Tossing stones from the front yard of a glass house

http://www.mtholyoke.edu/courses/sgabriel/brazil.htm, for openers.

[Judi Lynn]

12. Your link's not working. n/t