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Brazil plunges into Mining GFC abyss

Friday, 11 December 2015

From Credit Suisse:

As we know the Brazilian economy is already plunging in a classic capital run on an externally funded and over-indebted emerging market hit by an external shock. The real has collapsed driving inflation wild:

And pushing the central bank to tighten monetary policy in a pro-cyclical manner right into the bust:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.