Brazil fell into a deplorable state, which took place in the '80s and 2000s. None of the market players could not have imagined that the country has made such a sharp setback. Ahead of waiting for the economy of even greater upheaval that a powerful blow to the poor and bring even greater political dysfunction - Materials AMarkets.
The result on the face of the crisis - the devaluation of the currency, the growing rate of external borrowing, capital flight, and others. In fact, all three of these factors are present in all developing economies - and China and Russia, and others. However, Brazil was in the deepest pit.
Lowering the credit rating of the borrower Brazilian Agency Standard & Poor's, exposed the corporate debt of the country. The company actually pulled the plug on the international market, for a "junk" credit rating does not go far. The chain will grow and already growing corporate production costs, unemployment, inflation, consumption will fall even further, and others.
Schedule - the dynamics of retail sales and wages:
Schedule - falling incomes amid rising inflation:
Schedule - the level of unemployment:
But if you remember ... just something some few years ago, everyone was talking intoned that on the prospects of the BRIC. And now there was only BRIC India afloat. Yet.