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Brazilian President Calls US a Teenager Hiding Failings Grades from Parents PDF Print E-mail
2008 - October 2008
Written by Newsroom   
Sunday, 12 October 2008 14:43

President Lula of Brazil The president of Brazil, Luiz Inácio Lula da Silva, said that emerging market nations like Brazil must have a strong say in developing strict international rules for financial institutions which will help control the anarchy hitting the world economy.

Brazil and other developing countries "need to learn from this crisis to construct a new world economic order," Lula said in a speech to Brazilian and US trade investment forum attended by US Commerce Secretary Carlos Gutierrez.

The Brazilian leader demanded tighter regulations for high risk investments in rich nations that he and many other leaders of developing market nations blame for eroding their economies after they spent decades adopting US backed reforms.

New rules are crucial to "control the anarchy that is hitting the world economy" said the Brazilian president, laying out harsh criticism for bankers who made risky bets on mortgage-backed securities that went bad.

"What happened is that some people acted like they were teenagers with failing grades on their report cards, wanting to hide them from their parents," he underlined.

Central banks around the planet must adopt new rules, and governments must make sure financial institutions comply or are punished to prevent another debacle like the US born crisis, said Lula.

The president reiterated his belief that Brazil is better insulated from a deep domestic economic crisis because it has put its financial house in order, paying off its foreign debt and accumulating more than US$ 200 billion in foreign reserves.

He emphasized that Brazil will stick to its plans for hundreds of billions of dollars in infrastructure investment in coming years, including hydroelectric dams, highway improvements and railways.

On Friday the São Paulo Bovespa index ended the week at 35.609 points, having fallen for the seventh day in a row. The index had fallen as much as 10% earlier, forcing authorities to suspend trade for 30 minutes. Bovespa has fallen 20% this week, the worst weekly decline since October 1997 and down 47% since the beginning of the year.

Lula da Silva also called for a new global free trade agreement as an important step to prevent economic chaos. He revealed the had been lobbying for progress on the stalled World Trade Organization trade negotiations several days ago in a phone call with President Bush, and will deliver the same message in India next week to Prime Minister Manmohan Singh.

US Secretary of Commerce Gutierrez echoed the Brazilian leader's message that free trade, and not protectionism, is needed to bolster the global economy but the said there "is little hope of an agreement on a world trade treaty until after the inauguration of a new US president in January".

Mercopress

Comments (12)Add Comment
...
written by João da Silva, October 13, 2008
Lula da Silva also called for a new global free trade agreement as an important step to prevent economic chaos. He revealed the had been lobbying for progress on the stalled World Trade Organization trade negotiations several days ago in a phone call with President Bush, and will deliver the same message in India next week to Prime Minister Manmohan Singh.


It is a good suggestion to sign a global "free trade agreement" to prevent "economic chaos". It is also wonderful that our President called President Bush to discuss about it and I am sure he is going to deliver a "stern message" to the Indian Prime Minister. It is up to Bush and Singh to accept or reject his suggestion. It is time for B to bring RIC into submission, by cutting off our supplies to those three countries, thus ascertaining our leadership in the BRIC bloc.

BTW, Ch.C is forbidden to comment on my comment. smilies/cheesy.gif
Such Synchronocity
written by dnbaiacu, October 13, 2008
US Secretary of Commerce Gutierrez echoed the Brazilian leader's message that free trade, and not protectionism, is needed to bolster the global economy but the said there "is little hope of an agreement on a world trade treaty until after the inauguration of a new US president in January".


Is it becoming CLEARER? smilies/wink.gif
All the while violence increases in Iraq. And really know on knows "who's" really behind it. smilies/cheesy.gif smilies/grin.gif smilies/cheesy.gif smilies/grin.gif smilies/cheesy.gif
So sick the world! Bring the cleansing on!
LURE OF GREED=ENTRAPMENT=TAKEOVERS BAILOUTS=CONTROL
Dust off your Bibles everyone.. The Beast is coming back with a vengeance! smilies/cry.gif
12 “And the ten horns that you saw mean ten kings, who have not yet received a kingdom, but they do receive authority as kings one hour with the wild beast. 13 These have one thought, and so they give their power and authority to the wild beast.
Revelation 17:12,13
Global Socialism is underway. It ALL starts and ENDS with the MONEY!
Ahhhhh........ahhhhhhhh !!!!!!
written by ch.c., October 13, 2008
1) Why dont Brazilians and Lula the Cheater count the existing state or government controlled BRAZILIANS banks, and also the existing GOVERNMENT OWNED BANKS ?
Not due to the existing problems, but much older meltdowns.
What are the names of the banks in developed nations that have been taken over by their government years ago, for which they still have state/government control and government owned ?
Short memory, no memory or total CHEATINGS, LIES AND HIDES....AS USUAL ?

2) Havent your Government even taken over FIRST....VARIG ??????
Was this a financial company ????????? Hmmmmmmmm !!!!!!

3) Who has done currency interventions...so far..... to support THEIR OWN CURRENCIES ?
Developed nations or emerging nations including Brazil ??????

4) YOUR government told YOUR banks to buy BAD CORPORATIONS DEBTS !
By Corporation I mean the Sadia/Aracruz etc bad debts, not the bad debts of financial corporations.
Has it already happened in thze developed nations ?
Noooooo....except probably for GM and Ford. But not done yet.

5) Specifically for Joao :
How can any wise guy trust HALF A SECOND that Bush is going to pick the phone, when it comes from someone (Lula) that criticizes him DAILY QUITE HARSHLY PUBLICLY ????????
Joao, if Chavez and his medias would write that HE called Bush, do you think Bush had picked the phone ?
Would you trust Chavez or his medias that such phone call even took place....in reality ??????? Or that such phone call was
just a lie ?

But I am sure that many junkies in this site would say...OF COURSE...IT WAS PUBLISHED IN OUR MEDIAS !!!!!!
But coming from you Joao, the same answer would surprise me !!!!!!

It is like when a year ago or so, when Lula said "Bush called me for getting my advice"

this happens only in the cartoons medias !!!!!!!
Or in the vast cheating rooms of the Disinformation & Propagandas Dept at the Planalto Palacio.
Yessssssss the whole floor, next to Lula office !!!!!!

smilies/cheesy.gif smilies/grin.gif smilies/cheesy.gif smilies/grin.gif smilies/cheesy.gif smilies/grin.gif smilies/cheesy.gif smilies/grin.gif
Lula da Silva also called for a new global free trade agreement as an important step to prevent economic chaos.
written by ch.c., October 13, 2008
Which way ?
One way or two ways ?
If two ways then GM, Ford, Toyota, Volkswagen etc could therefore build more cars from their home country, or from China for exports to Brazil !!!!!!!!
And China could then be free to exports 20 times more textiles to...Brazil ! Thus far Brazil imports of Chinese textile is already TOO MUCH...despite having only ONE PER CENT market share of the Brazilian Textile Industry !!!! YESSSSSSS....ONE PERCENT IS TOO MUCH....FOR BRAZILIANS !!!!!!! FOR IMPORTS OF COURSE.....BUT NOT ENOUGH WHEN FOR EXPORTS !!!!!!

Same is true for Chinese tractors !

Same is true for Chinese steel. Brazilians steel mills are so efficient, it end ups that shipping iron ore to China, then transformed into steel, then re-shipped to Brazil.... is of lower cost than when no iron ore shipping is made out of Brazil.
But trade barriers arein place to protect Brazilians steel mills ...of course !!!!!!!!

Ohhhhh and who was against the latest round WTO negotiations ? Brazil closest allies : India and Argentina.
They want special rights to PROTECT THEIR OWN FARMERS EVEN MORE THAN THEY ARE ALREADY PROTECTED !!!!!!!

Same for the Kyoto accord. Developed nations should pollute less otherwise they have a financial penalty. But emerging nations CAN STILL INCREASE their pollution as much as they want.
Simple example : China in 2 or 3 years will pollute more than the USA, despite having only a fraction of the USA GDP !!!!!!
And China of course should not be restricted or penalized for pollution because they remain an emerging country !!!!

Right ?????

The economic (not financial) chaos is due to Emerging nations ! Dont you already have a VERY HIGH trade surplus against developed nations ?????
But you want more...IMBALANCE....IN YOUR FAVOR !!!!!!

Who can/could prove me wrong ???????

smilies/cheesy.gif smilies/grin.gif smilies/cheesy.gif smilies/grin.gif
brazil would be a tean gril hidding a pregnecy form her parents than
written by forrest allen brown, October 13, 2008
greed is killing the world

when you die where does it go ,
your kids for what
most brazilians that think they are rich have kids
spoiled kids that dont even know how to wash there own clothes ,

they are ues to just party all the time .
till dad dies then its a bigger party .
soon the money and friends all run out .

people have to bank at least 10% of there income .
do with out the newset cell phone the biggest flat screen TV .
fashion clothes , cars .along with fast women & men

as they all fade and get old .
but true friends stay with you till the end .

just like countries do , dont bed hop to what is the
show pony this year as if it breaks it leg the old mule

may longer be there for you
...
written by Falupa, October 13, 2008
Greed is a big problem. I don't think we need to focus on pointing the finger right now, just fixing the problem. This is a major issue affecting the world today. It needs to be fixed as soon as possible. The sooner we come together to find a resolve the better we will all be.
Greed is an issue of your "consciousness".
written by dnbaiacu, October 13, 2008
Greed is a big problem. I don't think we need to focus on pointing the finger right now, just fixing the problem. This is a major issue affecting the world today


Only resolved on an individual basis and tackled "spiritually". Which is ulitmately what the whole issue is. The human consciousness is being MANIPULATED. It's a spirit , and "air" in the world. The only way to combat it is pull out a "spiritual" oxygen mask. Otherwise you have no one to blame but yourself. It is like being in a plane with air pressure problems and you refuse to put on the oxygen mask.
Greed will not be resolved on a massive scale (yet) the hidden "movers and shakers" count on that. So they will continue (while it is their day) to exploit greedy tendencies and promote fear. All with the objective to control.
Humans have basic instincts that are SO easily manipulated without the elevating of the "consciousness".
Unleash your potential! Be the god in you!
most brazilians that think they are rich have kids ,spoiled kids that dont even know how to wash there own clothes, they are used to just party all the time, till dad dies then its a bigger party
written by ch.c., October 13, 2008
Forrest are you sure you are talking about MOST brazilians ? Or the minority elite ONLY ?

are you referring to the 7 millions streets kids ? Or the millions of kids at work ?
Or the tens of millions kids with a mom as single parent, because the fathers ran away...without paying an alimony for kids, of course ????
Ch.C !
written by João da Silva, October 13, 2008
But I am sure that many junkies in this site would say...OF COURSE...IT WAS PUBLISHED IN OUR MEDIAS !!!!!!
But coming from you Joao, the same answer would surprise me !!!!!!


I don't think that even the reporters believe him, let alone me!! They just publish what he says!!! I still do not know the objective of his visit to India. Our media do not publish such news. May be, your Indian banker friend would be able to enlighten us. smilies/wink.gif
The Brazilian leader demanded tighter regulations for high risk investments in rich nations that he and many other leaders of developing market nations
written by ch.c., October 13, 2008
Ohhh but this is what they do !
They will no longer accept Brazilians Companies to hedge their own currencies !
Because from the Brazilian medias, it is clear these Brazilian companies that lost a bundle in their currency derivatives were...HEDGING...NOT SPECULATING !!!!!!

If one can loose his shirt in HEDGING, then he may as well loose his pants and flip flops...when SPECULATING !!!!!!

Ohhh by the way, why LULA and HIS central bank was not chosen for "The ECB, the Bank of England and the Swiss central bank will auction unlimited DOLLAR funds with maturities of seven days, 28 days and 84 days at a fixed interest rate, the Washington-based Fed said today."

Not over yet ! What is the name of the developed nation that has LOWERED its bank reserve requirements ?
With Smiiiiiiles....waiting the answer !
Well today Brazil did it for the 4th time..... in ONE MONTH !!!!!!!!!!

Is this action strenghtening or weakening the banking system in Brazil...when lowering 4 times in one month the minimum reserve requirements ?????????????

With more....Smiiiiiles !
dnbaiacu
written by João da Silva, October 13, 2008
Greed breeds arrogance. It is time our rulers realize it and cut the "bravatas" like saying how good they are while "negotiating" with the leaders of rest of the world.

I don't think that many Brazilians know that our asses are being kicked by Rafael Correia of Equador too!!
our asses are being kicked by Rafael Correia of Equador too!!
written by ch.c., October 14, 2008
So true !
Correa even has DEFAULTED ON US$ 200.- million to Odebrecht !
Payment refused by Correa.
Why ?
Bad work done by Odebrecht on a new dam !!!!!
He expelled the construction company from the country on Sept 23 in a dispute over a power plant.
The loan by the BNDES, as the bank is known, was for the year-old, $338 million San Francisco hydroelectric plant built by Odebrecht, Correa said today. The plant had to be shut down in August due to damages to tunnels and turbines. Correa blamed Odebrecht for the problems and canceled $800 million in infrastructure contracts the Brazilian company had in Ecuador.



How could Brazil pretends they DONT subsidizes ALL industries through BNDES ????????
Of course Robin the Crook is finger pointing the developed nations for their Agricultural subsidizes.
I never heard yet that developed nations provide cheap loans many percentage points LOWER than their Government rates.
Let me state not even for Agriculture let alone for other industries !!!!!
While Bin the Crook provide government subsidizes for loans AND support prices to the Agricultural sector, including coffee, a commodity the developed nations dont even produce. So that he cant tell us how unfair WE are but how unfair HE is !
And on top he provides subsidized interests rates loans to the NON AGRICULTURAL SECTOR !!!!!
Believe it or not, Including Volkswagen !!!!!!! Just go back to 2005-2006 when the company wanted to reduce their workforce in Brazil. Lula then said if so, the company would have to repay ONE of the BNDES loans that was freed just several months earlier.

Cheaters and liars always cheat and lie ! Is this not what I have said all along against Lula and most Brazilians ?????????

Of course then....A Brazilian and many others......complained I was ranting !!!!!
Is saying the proven truth.....ranting ??????
Sorry....not to my knowledge.

smilies/wink.gif

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