Latin America

Pope Francis warns Latin America against legalizing drugs

"Pope Francis has warned Latin America against legalizing drugs, arguing that liberal policies under consideration in his home region will not reduce the problem. 'A reduction in the spread and influence of drug addiction will not be achieved by a liberalization of drug use, as is currently being proposed in various parts of Latin America,' he said on the third day of his trip. Guatemala’s president has called for legalization, a vision shared by ex-presidents in Brazil, Mexico and Colombia but opposed by the United States and Mexican governments. Uruguayan President Jose Mujica has proposed legalizing marijuana." Continue reading →

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Prices Fuel Outrage in Brazil; ’46 New Tax Rules Per Day’

"Brazil’s street protests grew out of a popular campaign against bus fare increases. Renting an apartment in coveted areas of Rio has become more expensive than in Oslo, the capital of oil-rich Norway. Soaring prices for basic foods like tomatoes prompted parodies of President Dilma Rousseff and her economic advisers. Inflation stands at about 6.4 percent, with many in the middle class complaining that they are bearing the brunt of price increases. Companies grapple with 88 federal, state and municipal taxes, a number of which are charged directly to consumers. The Brazilian authorities issue an estimated 46 new tax rules every day." Continue reading →

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Brazil becomes world’s 7th most violent country with 1 million murders in 30 years

"More than one million people were murdered in Brazil between 1980 and 2011, making it the world’s seventh most violent country, a survey showed Thursday. During the period, homicides soared 132 percent to claim 1,145,208 lives, from a rate of 11.5 murders for 100,000 inhabitants in 1980 to 27 per 100,000 in 2011, according to the Map of Violence report, In 2011, Brazil, now home to 194 million people, recorded 51,198 homicides, ranked seventh among the world’s most violent nations after El Salvador, the US Virgin Islands, Trinidad and Tobago, Venezuela, Colombia and Guatemala." Continue reading →

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Inflation: Robbing You Since the 10th Century

"Humans have been screwing up money for centuries, beginning with China's printing of jiaozi in the 10th century. History is littered with episodes of hyperinflation, but my favorite is that of revolutionary France. France's hyperinflation began as all hyperinflations do: the state printed too many assignats (pictured below), and they rapidly lost their purchasing power. French citizens sought alternative stores of value and mediums of exchange, as any intelligent person would. The French government, correctly perceiving this as a threat to its financial hegemony, reacted violently." Continue reading →

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Kerry vows to put the screws to Venezuela over Snowden

"US Secretary of State John Kerry has reportedly promised his Venezuelan counterpart to close NATO airspace to the country’s flights and stop crucial oil product deliveries if Caracas grants asylum to NSA leaker Edward Snowden. Kerry reportedly threatened to ground any Venezuelan aircraft in America’s or any NATO country’s airspace if there is the slightest suspicion that Snowden is using the flight to get to Caracas. Kerry also reportedly promised to intensify the ongoing process of revoking US entry visas to Venezuelan officials and businessmen associated with the deceased President Hugo Chavez." Continue reading →

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‘Sorry is not enough’: Bolivia demands EU find culprits behind aerial hijack

"EU apologies for the aerial blockade that forced the Bolivian president’s plane to land are 'not enough,' said Bolivia’s foreign minister. The presidential plane was grounded amid suspicions that NSA leaker Edward Snowden had stowed away onboard. The Bolivian Foreign Minister, David Choquehuanca, confirmed on Tuesday that Bolivia had received official apologies from Italy and Portugal, adding to those of Spain and France. However, Choquehuanca stressed that the apologies were not enough and the four countries “must identify those responsible and punish them in an exemplary fashion so that such an incident does not happen again.” Continue reading →

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Bitcoin Downloads Surge in Argentina

"Since early June, Argentina’s share of global bitcoin software downloads has more than doubled, as the country edges towards what Barclays called 'a balance-of-payments crisis, in slow motion.' With bitcoin, Argentines can transfer their wealth to anywhere in the world instantly, outside of the domain of local authorities. Also, although bitcoin transactions are stored on a public ledger, it’s extremely difficult to determine the identities of the parties involved in the transactions. That anonymity could help Argentines avoid the scrutiny of the national tax agency, which has aggressively used enforcement actions to contain the public’s dollar purchases." Continue reading →

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Lessons from Economic Crises in Argentina

"Just about every single thing that you could do to screw up a country, they have done. It is comical to see the extremes they have gone to. They are really completely out of control and the country is spinning off into la-la-land. Frankly, I love living right in the midst of all of it. There is a lesson to be learned from all of this, and I think it is a very important one. When it comes right down to it, any government – not just the Argentine government, but the US government as well – will simply do whatever it thinks it needs to do to keep the status quo intact, with no moral or ethical considerations." Continue reading →

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Why are Brazilian coffee-growers striking and burning sacks of coffee?

"In Brazil, which produces a third of the world's coffee beans, farmers are striking over falling prices and burning sacks of coffee in protest. Why are coffee-growers feeling the strain? [..] Many Brazilian and Colombian farmers invested to boost production of arabica in response to the high prices of 2011, which has added to the oversupply and further depressed prices. And good weather in Brazil means that this year's crop has turned out to be unexpectedly large. That is why Brazil's farmers are striking, and are demanding more protection, in the form of fatter subsidies, from the state." Continue reading →

Continue ReadingWhy are Brazilian coffee-growers striking and burning sacks of coffee?

Why are Brazilian coffee-growers striking and burning sacks of coffee?

"In Brazil, which produces a third of the world's coffee beans, farmers are striking over falling prices and burning sacks of coffee in protest. Why are coffee-growers feeling the strain? [..] Many Brazilian and Colombian farmers invested to boost production of arabica in response to the high prices of 2011, which has added to the oversupply and further depressed prices. And good weather in Brazil means that this year's crop has turned out to be unexpectedly large. That is why Brazil's farmers are striking, and are demanding more protection, in the form of fatter subsidies, from the state." Continue reading →

Continue ReadingWhy are Brazilian coffee-growers striking and burning sacks of coffee?