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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?


To: Elroy Jetson who wrote (20806)8/5/2007 2:06:16 PM
From: elmatador  Read Replies (1) | Respond to of 217592
 
Shantytowns are Brazil's latest allure

Slums offer a feeling of closeness not found anywhere else

By Peter Muello
Associated Press
RIO DE JANEIRO, Brazil — Most of the massive hillside slums that rise up around Rio's posh Ipanema beach district are places where middle-class Brazilians would never go. But a growing number of tourists are shunning the beachfront zones with their pricey hotels and shops to get a taste of the "real Brazil," one outsiders rarely see up close.
Ricardo Moraes, Associated PressBritish painter Bob Nadkarni shares a smile at his home at the Tavares Bastos favela, in Rio de Janeiro. Nadkarni moved to the Tavares Bastos favela in the '70s. One glimpse of the spectacular Sugarloaf mountain view was enough — he decided to build his own home there. Gabe Ponce de Leon is one — he came to Rio as a college exchange student in 2001 and lived the high life until he discovered the slums. Teaching English for pocket money, the Brooklyn native got his first taste of a "favela" when a student took him home to Rocinha, a place whose very name makes many Brazilians fearful.
"Rocinha looks daunting from the outside, like an impregnable fortress," said Ponce de Leon, 27. "But inside it's like a hamlet, with kids playing in the streets, and you know all your neighbors."
Ponce de Leon decided to rent a room in his student's home for $75 a month and immerse himself in the favela life.
"There's a lot of fun there. There are samba groups, 'funk' dances and more bars than any other business. It's a cop-free zone, no lawyers, no bureaucracy, no corporate regulations or commercialism," he said. "But there's also old-fashioned human warmth; people help each other out. For a guy who grew up in Brooklyn, you see this way of life still exists."
Barbara Caroli of Italy caught her favela fever after glimpsing the thousand points of light gleaming each night from the jumbles of hillside houses.
"I felt it was an invitation," said Caroli, who quit her job at a real estate agency in Milan, moved to Rocinha, married and opened a preschool. "This is life. There are shootouts, and sometimes you can't sleep because of the gunfire, but you almost never see a body. People don't celebrate death — they commemorate life."
While there is no exact count of how many foreigners live in favelas, Rio's Federation of Favela Associations says the number has risen sharply, from dozens a decade ago to hundreds today, especially from Europe and the United States.
Silvia Izquierdo, Associated PressItalian Barbara Caroli talks with boys in front of her office at the Rocinha slum. Caroli caught her "favela fever" after glimpsing the thousand points of light gleaming each night from the jumbles of hillside houses. Most got their first taste of favela life on the Jeep and walking tours of shantytowns that began in the 1990s.
More recently, bed and breakfast inns have opened up in some of the less violent favelas, even advertising in English on the Internet to attract more adventurous travelers.
One service, called "Favela Receptiva," offers rooms in favela homes, plus airport pickup, free breakfast, bed linen and telephone service.
"Favelas have a negative image of drugs and violence, but visitors find out it can be different," said Marcelo Mendonca, who rents out a room in his house in the Vila Canoas favela. "People love to go to the bakery and the corner bar. They help the local economy."
So far, Mendonca has hosted guests from England, Australia, Hong Kong and Spain. Some complained that his favela, one of the city's safest, seemed too nice.
Mabel Taravilla, 29, doesn't consider that a problem. She rents a bedroom for $200 a month including breakfast, sharing Mendonca's house with his wife and their two children. "It's cheap and peaceful and not linked to the drug wars," said Taravilla, an anthropology student from Acobendas, Spain.
For many years, Rio's 600 favelas occupied a romantic space in the Brazilian imagination, as the birth place of samba and the carnival groups that draw thousands of upper-class Brazilians to Rio's Samadrome parade grounds each year.
That changed in the 1980s as heavily armed gangs defended a rising cocaine trade. Today, few middle-class Brazilians have ever visited a favela, and few have any desire to do so.
Ricardo Moraes, Associated PressBritish painter Bob Nadkarni is seen at his home at the Tavares Bastos favela. Nadkarni moved to the Tavares Bastos favela in the '70s. While some favelas offer spectacular ocean views and a population more accustomed to foreigners and tourists, most lay behind the back of the towering Christ the Redeemer statue, on Rio's low-lying north side, and are brutal, dirty places with homicide rates approaching war zones. Stray bullets are a constant hazard, and shops often close on orders from drug bosses.
But a cruel form of justice meted out by drug gangs makes Rio's infamous street crime less common in the favelas, where people with a high tolerance for risk are sanguine about flying bullets.
British painter Bob Nadkarni made his move in the 1970s, to the Tavares Bastos favela, at the top of a winding cobblestoned street reminiscent of the colonial era, where the road ends abruptly and a labyrinth of alleys, shops and bare-brick apartments begins.
Nadkarni discovered the favela when his maid got sick and he had to take her home. One glimpse of the spectacular Sugarloaf mountain view was enough — he decided to build his own home there. Now he rents rooms to visitors and features a monthly jazz night that attracts scores of outsiders, Brazilian and foreign.
Nadkarni, a burly man of 64, says many Brazilians are unjustifiably afraid of favelas.
"They'll even brag about it, and compete to see who is more afraid," he said. "But I couldn't live anywhere else."
If you go

FAVELA RECEPTIVA: Bed-and-breakfast, 011-55-21-9848-6737, 011-55-21-2232-9710. Rates vary. Also offers a service that can arrange rooms in favelas, airport pickup, etc., 011-55-21-2247-2623.

WALKING TOURS OF ROCINHA: 011-55-21-7827-3024 or 011-55-21-9978-2401, www.favelatourismworkshop.com, $28.

JEEP TOURS: Three-hour tour of Rocinha: 011-55-21-2108-5800 or 011-55-21-9977-9610, www.jeeptour.com.br, $38.

JAZZ NIGHT: Hosted by Bob and Malu Nadkarni, www.jazzrio.com, 011-55-21-2558-5547. Performances on first and third Fridays of each month; $7.50.



To: Elroy Jetson who wrote (20806)8/5/2007 7:40:16 PM
From: Slagle  Respond to of 217592
 
Elroy,
And that is a long list of reasons: Global Warming tax, Shrub's encore, whatever that might be, aging boomers, Iraq, looming socialism, debt, aging infrastructure, ethanol boondoggle, and a million other things.
Slagle



To: Elroy Jetson who wrote (20806)8/9/2007 12:00:04 PM
From: elmatador  Respond to of 217592
 
ABN AMRO Analysts Comment On 6% Real Rally Against Buck

Tuesday, July 24, 2007 11:30:26 AM - Analysts at ABN AMRO commented on the 6% Brazilian real rally against the USD in the past two months, despite a continuation of the Central Bank of Brazil's intervention program. According to daily reserves data, reserves have risen to $153.3bn per 20 July from $132.8bn per the 21st of May. However, even $10 billion per month of intervention does not seem to be absorbing all of the inflows. The analysts state that the point was made clear by the price action, but has now been confirmed by data released in the past couple of days.

Despite the ever-strengthening real, there are no signs that either the current account surplus or the investment bonanza are shrinking. In fact, analysts noted, they are increasing on an annual basis. The $10.3bn that Brazil recorded in foreign direct investment inflows was a new record. Roughly $3bn could be attributed to the ‘extraordinary' Mittal/Arcelor deal, but the rest was spread out over numerous ‘routine' transactions. The strong global economy is apparently much more relevant to FDI than any concerns over a strong BRL. ABN AMRO noted that there is the issue of equity investment in to Brazil as well. Foreign investors are extremely eager to buy Brazilian shares. A flurry of 5 IPOs last Friday brought in $1.2bn in a single day. The total year-to-date is $18.4bn.

The analysts commented that they mention all this data to make a simple point: BRL appreciation is not about ‘carry'. The pressure for BRL appreciation has increased over the past two years, even as the implied yield of the BRL 3-month NDF has shrunk from 18% in July 2005 to roughly 9.6% today. Analysts comment that J-curve effects may begin to shrink the current account surplus a little, but so long as the global economy is strong, inflows and the BRL will be too.