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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 366.54+1.2%Nov 5 4:00 PM EST
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To: THE ANT who wrote (44442)1/2/2009 9:36:55 AM
From: elmatador  Read Replies (1) of 217545
 
Brazucas returning in droves: Estimates on the number of departing Brazilians are staggering. Ester Sanches-Naek, well known in Hartford as the president of the Shaheen Brazilian Community Center on Park Street, guesses that at least 20 percent of the Brazilians in the state had returned home recently because of the economy.

"Not only is the economy here getting bad but the economy in Brazil is getting better," she says.

Two months ago, the dollar was worth four Brazilian real. Now it's worth two. "When the dollar was four for one, you could do a lot," says Sanches-Naek. "Now you can't do much any more."

Thousands of Brazilians fled to the U.S. after March 1990, when inflation there reached a ruinous monthly rate of 82 percent, according to Erika Watanabe Patriota, deputy consul at the Consulate General of Brazil in New York. Today the country is on an upswing. Annual inflation for the period from October 2007 to October 2008 was running at 6.25 percent, thanks to a stable government led by President Luiz Inacio Lula da Silva and a diversified economy anchored by oil giant Petrobras. Last year, Brazil's stock market reached a value of $1 trillion, a first for a Latin-American country.

fairfieldweekly.com
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