This article appeared online at TheNewAmerican.com on Wednesday, March 8, 2017:
Brazil’s economy, once Latin America’s largest and most prosperous, shrank again last year by 3.6 percent following a similar shrinkage in 2015 of 3.8 percent. This marks the country’s worst recessionary period since records started being kept. The best possible scenario for 2017 is an expansion of less than one percent.
The New American has been following the rolling and accelerating disaster since the onset of Operation Car Wash, the investigation into political corruption at the government’s highest levels, which began nearly three years ago. At the time the economy had fallen from a gain of more than 10 percent in 2010, placing Brazil at the top of the BRIC nations (Russia, India, China, South Africa, Brazil) which were touted as contenders to outproduce the Western economies by 2025. No one mentions BRIC any longer.
Instead it’s all about the failing economy and the Operation Car Wash corruption investigation.