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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: elmatador who wrote (23027)8/26/2002 11:53:54 PM
From: EL KABONG!!!  Read Replies (1) of 74559
 
Hello elmatador,

I think that most astute people would generally agree with the author (Edmar Bacha) of the article that you quoted. The problem with Brazil is not their collective ability to repay their foreign debts. Rather it is the perception, widely held in lending nations, that the people lack the will or desire to repay foreign obligations. This lack of enthusiasm for repayment might be best reflected in the rhetoric of two leading candidates for the leadership position within Brazil's government. I believe that those candidates are merely parroting what the common man is saying in the streets. And while their words may be nothing more harmful than political rhetoric in order to get elected, the words nonetheless are upsetting to foreign investors, especially in European countries like Spain, where investors have taken a large whack in their wallets from Argentina and Venezuela.

In the USA, investments in South American countries are still being offered by many brokerages as a better investment than say, domestic stocks or bonds. The chief worry is really politics, not economics. Among investors, greed is the second most powerful emotion. It is worth noting here that fear holds the number one position...

KJC
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