do.rflex wrote:
> --- In FairfieldLife@yahoogroups.com, Bhairitu <[EMAIL PROTECTED]> wrote:
>
>> I wonder what our Brazilian members think of this article:
>> http://english.aljazeera.net/focus/2008/08/200881884358873790.html
>>
>
>
> >From the article:
>
> "The US dollar is at its weakest level against the Brazilian real in
> decades.
>
> In 2004, every dollar sent home bought approximately four Brazilian
> reais (R$).
>
> Today one dollar fetches only about one real and 63 cents."
> ==
> ==
>
> That makes it tougher for me because as a retired US gringo my
> retirement income is in US dollars.
>
> But yes, the economy is booming here. Interestingly Brazil is
> currently energy independent using both gasoline from their oil wells
> and ethanol from their sugar cane. They also recently discovered a
> massive oil field off the coast that could make Brazil one of the
> major oil exporters in the years to come.
Now the caution here would be "is this a bubble?" IOW, you're friends
and neighbors could get the impression this could last forever and put
themselves into deep debt and the economy goes crashing down in five
years. Several years ago on an Indian discussion group they were gaga
over their big economic boom there and I warned them that what goes up
must come down and they didn't want to hear it. But now that bubble has
started to burst over there, some of those people will wish they had
listened.
