Brazil

Doug Henwood dhenwood at panix.com
Fri Jan 15 18:13:18 PST 1999


So the Brazilian stock market was up 33% today, closing the week where it began. <http://quote.yahoo.com/q?s=^BVSP&d=2b>. The wire stories said the markets were giving the devaluation a seal of approval. It was universally believed that a Brazilian devaluation would bring the end of the world, but now the markets are celebrating it as a good thing. Capitalism is very odd.

Doug



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