Sources: FT: Brazil resolute on rate rises to calm inflation WSJ: Price of Success in Brazil: $15 Movies IMF: Watching Out for Overheating in Latin America CIA: World Fact Book, GDP Real Growth Rate Over the past few years, Brazil’s Gross Domestic Product (GDP) has steadily increased, going from 3.70% in 2006, to 5.10% in 2008, and reaching 7.50% in 2010, making Brazil’s economy one of the most stable, and the country itself one of the wealthiest in South America and the western hemisphere. However, this success has not come without a price, as Brazil’s cities have become some of the most expensive in the world. The Wall Street Journal reported that Brazilians pay the equivalent of $15 for a movie, which is more than New Yorkers pay. Likewise, the jump in the price of food, transportation, and land has resulted in the inability of millions of poor Brazilians to maintain their standard of living as their income remains unchanged but the price of items continue to rise. One reaso...
The results of PFStock's latest income survey are in. For a while now, I've had an annual income poll in the sidebar of PFStock that asks readers to respond to the question: "How much do you make?" In total, there were 85 responses to this poll. So, here are the latest poll results: How Much Do You Make (April 2011 Results) Annual Income % of PFStock Readers less than $50k 8% $50k-$99k 25% $100k-$149k 27% $150k-$199k 11% $200k-$249k 8% $250k and higher 18% Note that the percentages do not add up to 100% due to rounding. From these statistics, I found it interesting that a large percentage of my readers fall into the higher income categories. More than 60% of PFStock readers have an income greater than $100,000 per year. Does anybody have a comment on this statement? The last time that I published annual income survey results was in my July 2010 post on the topic. I also found similar results then. Because the 2011 and 2010 surveys covered different income r...
Sources: FT: World Bank Sees End to Dollar’s Hegemony ; World Bank: Emerging Market Growth Poles are Redefining Global Economic Structure, Says World Bank Report According to a recent World Bank report, the US dollar will no longer be a single, dominant international currency by 2025 as the economic power shifts to emerging market economies. Instead, the euro and the renminbi will likely emerge as the international currencies along with the US dollar in a “multi-currency” system. The report, “Global Development Horizons 2011-Multipolarity: The New Global Economy,” expects that by 2025, six emerging market economies (Brazil, China, India, Indonesia, South Korea, and Russia) will account for over half of overall global growth. The report also expects that the average GDP growth rate of emerging market economies will be 4.7 percent between 2011 and 2025 while the average GDP growth rate in advanced countries will be 2.3 percent in the same time frame. As the power of global growth s...
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