Category: 3. Trends
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Brazil debt downgraded to JUNK
This week Brazil’s debt was downgraded to junk status by S&P. It was only a few years ago that the BRICS economies were forecast to dominate the world. [Brazil-Russia-India-China-South Africa] The cycle has long since turned and now commodity-exporting nations are rapidly deteriorating. Brazil won’t be the only major economy to be downgraded. Watch for…