Depression Tracker: Unemployment Soars In Latin America’s Most Important Economy
by Tyler Durden
ZeroHedge.com
08/20/2015
If there’s anything Brazil certainly does not need, it’s more bad news. The country is, in many ways, a symbol of the great EM unwind and the situation is made immeasurably worse by political instability. The economic outlook – which was already bad enough between a harrowing bout of staglflaton and dual deficits on the fiscal and current accounts – just got a lot worse as unemployment spiked to 7.5%, well ahead of consensus and the worst in five years. How bad is it you ask? Bad enough that BofAML now says the “key” stat to focus on is the number of participants in recurring street protests.
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