Lula taking surprising action

The higher credit rating is making life more difficult for Brazillians and our credit worthiness is a significant advantage although it doesn’t extinguish our debt, it increases it. What it extinguishes is our budget deficits by borrowing money to pay for them. Its much easier for us to run a deficit than for Brazil as our credit is of much higher quality.

Lula is taking surprising action. I hope his plans work and he can get through the tough times ahead. It will be interesting to follow.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s