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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (81132)	7/7/2008 7:44:58 PM
From: THE ANT	Read Replies (3) \| Respond to of 116555

Elmat,I think that Brazil is not in the least competitve against the US without a rate of 1:2.2 to the dollar.Of course Europe is not competitive at their exchange rate and the Euro is hanging in there.Brazil has the highest real interest rates in the world and that is why the 1:1.6 rate continues.Brazil can not fight the inflation battle alone without eventually crippling their economy.When Brazilian rates start to fall the banks ought to do well.I still see a lot more downside to the world economy for the next year or two but then the rally of a life time Am awaiting for TJ to tell us when it is safe to get into Chinese mkts