Brazil Election - 5 October 2014

[DC Al Fine]

According to analysts, the dollar rate could rise up to 10% tomorrow and Ibovespa will probably be stopped by a circuit breaker (after a 10% loss). Let's wait and see how big the nightmare will be.

Tomorrow I'll try to make my election recap, winners/losers, and a quick projection for 2016 and 2018.

Good God! What's Dilma promising that's freaking out investors so much?

[DC Al Fine]

Well, all in all, good. Like Al said, Dilma's certainly not perfect, PT maybe even less so, but hopefully some very poor Brazilians can keep getting a little less poor, as opposed to hugely rich Brazilians getting even more hugely rich. That's always a pleasure.

No program took more people in Brazil from poverty than FHC's Plano Real, for instance.

BTW, the bloodbath on Ibovespa today is so big that the trading of most companies had to be delayed and put into auction. Petrobras will start trading at -14%.

I have to say, I'm glad I'm based in a developed market. I don't have the stomach for emerging market swings.

[DC Al Fine]

Hmm, I understand that some people within PMDB would want to run a presidential candidate, given the reward would be great, but that can be dangerous, given that PMDB has already established themselves as a party of (sucking on the) system and the presidential run could put their position in jeopardy.

With that in mind, what sort of person votes PMDB?