South America what happened? ^BVSP Bovespa 37,616.74 11:47AM ET 6,900.56 (15.50%) I thought Brazil would be insulated from any happenings in the US as you were best buddies with China. Any more sage advice professor?
Hehe, SP and BA halted most exchange operations, though... there is enough crime as it is. Many will wake up with ladyboys at a motel tomorrow, after a "wet night of sorrows"... followed by much deeper regrets. Typical of Brazilians etc.
Being from Brazil myself I can assure you that a lot of people actually bought into this idea with both fists. I have been in the US for the past 15 yrs., but I have numerous contacts in Brazil ranging from money managers to brokers. Almost everyone swallowed the pill "Brazil is insulated" type of story. The more astute ones jumped out of the train before this carnage, but sources tell me that the worst is yet to come. Once the capital outflow gets really entrenched you will see the government scandals come afloat. If you want to see erosion of confidence...then keep a close eye on Brazil and you will see the mammoth scandals about to emerge. Sad but true...