And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina: Wall Street, the IMF and the Bankrupting of Argentina
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And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina: Wall Street, the IMF and the Bankrupting of Argentina
One of the fundamental underlying problems was that Brazil’s public finances were weak. The scale of emergency grant payments in 2020 had left the administration with a gigantic fiscal hole, increasing the size of the nominal deficit from 5.8 per cent of GDP at the end of 2019 to 13.7 per cent by the end of 2020. The decision to renew the grant in
... See moreRichard Lapper • Beef, Bible and bullets: Brazil in the age of Bolsonaro
The fiscal cost of all this was considerable. The government’s overall deficit had increased from 2.3 per cent of GDP in 2012 to 3 per cent in 2013, 6.1 per cent in 2014 and 10.2 per cent in 2015. But much of the money had been squandered. The government had started by exempting companies in fifteen labour-intensive sectors from payroll tax, wideni
... See moreRichard Lapper • Beef, Bible and bullets: Brazil in the age of Bolsonaro
The United States was now reaching the end of its first era. It had to expand westward. It needed food production to surge. Settlers were being crushed by Hamilton’s formerly useful and now-harmful idea of how credit ought to be managed. And continuing doing what had worked so well in the first part of the era would intensify the crisis. The core f
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