The Financial Times had an interesting story on Brazil’s struggling “elected champions”. What seems to start off as another piece on Eike Batista’s woes is, thankfully and much more relevantly, a report on the federal government’s rising interventionism.
A Financial Times article highlights the surreal nature of Brazil’s “Mensalão” judgement, so easily lost on us locals. Just a few days later, a commission of our Congress buried yet another investigation of its peers. We have much to learn, much to do. Can’t rest a single second.
Financial Times: “Brokers trying to hawk Brazilian shares to international fund managers in New York and London have had a tough time of it recently. (…) ‘The question we always get is what will be the next sector in which the government plans to intervene?’ says one analyst with a foreign bank.”
This blog’s most frequent contributor just recently reminded me of a source I had been neglecting of late: Bronte Capital. As the most recent post “The macroeconomics of Chinese kleptocracy” shows, it’s always entertaining and provocative, even though I sometimes don’t agree with their arguments. Since the statements sometimes jump the necessary explanation, it’s not easy to tell when they’ve done the homework.
Transparency, governance and accountability are two of the main issues I am concerned with regarding politics, government and society in general. I have discussed it here in terms of citizen initiatives such as Wikileaks and its offspring, but governments can also try to push it in that direction. We’ve seen a recent push in Brazil, […]
A Project Syndicate article argues – correctly – that Brazil’s recent progress was not due to major improvements in its legal structure or security of contracts. More importantly, it diagnoses that these things will have to improve if we are to reach the “next level”. While infrastructure is also vital, again the Argentina example highlights security of contract as just as vital and sometimes forgotten.
Fair and balanced look at the NetJets vs. IRS case by NYT’s Dealbook. While the amounts involved are not that relevant for Berkshire, they are quite relevant for their bizarre “nature”: the charge wasn’t there, now it’s there – and retroactive… A warning about tax codes, and not just the USA’s.
This article by Economist.com actually makes for interesting food for thought regarding Brazil and other highly-regulated economies. If the USA has it rough, how do we have it here? We highlight some interesting tidbits valid for all over-regulated countries.
No mistake in the title: US immigration laws have some California entrepreneurs – Peter Thiel included – pondering a ship to house innovators and entrepreneurs 12 nautical miles off the California coast – i.e. international waters! The point here isn’t the specific plan, it’s the regulatory and political environment that spawned it.