Brazil: a desert of economic ideas

The current Brazilian economic scenario is catastrophic after years of low economic growth, fiscal uncontrol, and high unemployment rates. The whole contingency of the government that now hits hard federal universities and is sold by the government as a measure to try to cover the gap in the economy conceals, in fact, the lack of economic proposals of the current government for Brazil to leave the crisis frame in which is found.

The government uses the approval of the Pension Reform as the great measure capable of making Brazil grow again. The previous government, of president Michel Temer (who is back to jail in corruption probe), sold the labor reform in the same way. The then Minister of the Economy Henrique Meirelles went so far as to say that the reform would produce 6 million new jobs, but what actually occurred was the rise in unemployment.

Weak macroeconomic data are the result of the lack of proposals by the current government and the orthodox reforms adopted since the arrival of Joaquim Levy to the Brazilian Ministry of Economy during the second Dilma government in late 2014. Levy, now president of the BNDES, initiated a series of orthodox economic measures. Since there should be no Bolsonaro government spending increasing demand and Brazilian entrepreneurs do not seem willing to bet on the Brazilian economy, in the medium term the Brazilian economy should remain weak.

All indications are that in the coming months' recessive adjustments will continue amid the scrapping of Brazil's physical and social infrastructure.

Former president of Brazil, Michel Temer, is arrested

The Operation Lava Jato of the Federal Police arrested today the ex-president Michel Temer and the ex-minister Moreira Franco. Both are accused of involvement in corruption schemes. In an interview with the journalist Kennedy Alencar, Temer classified his prison as "a barbarity."

The arrest was based on the donation of José Antunes Sobrinho, owner of Engevix. The businessman told the Federal Police that he paid R $ 1 million in tips at the request of Colonel João Baptista Lima Filho, who would have received the bribes for the political group of former president Michel Temer.

Engevix was one of the construction companies responsible for the construction of the Angra 3 atomic power plant, located on Itaorna beach, in Angra dos Reis, Rio de Janeiro.