There is a lot of talk at the moment about the economic difficulties facing Brazil
Brazil needs to read more mainstream Australian economic commentary and worry less. If they did they would realise that the only reason they need interest rates at 14% is because they are xenophobes who are not willing to transfer ownership of their assets off shore fast enough.
Surely they could sell off their electricity distribution systems, mining interests, ports, distribution systems, cattle ranches, plantations and claims on future private incomes with a bit more enthusiasm. There are plenty of foreign interests who would be happy to own a nice chunk of the Brazilian economy.
That would put a bit more lead in the Real.
Have they thought about giving a taxpayer guarantee to the banking sector and then encourage that banking sector to use cheap wholesale off-shore borrowing to drive a residential mortgage bubble?
With all that fresh domestic lending / money creation the govt could raise enough from stamp duties (and whatever other real estate cash equity extraction methods it prefers) to pay off its huge public debt (Mr Baird could explain how stamp duties has made NSW a powerhouse running on low carbon content household debt)
With the right reality TV shows the average Brazilian would be happy and feeling equity rich while their personal balance sheets explode.
Public debt is only a problem if you are shy about shoveling it onto the shoulders of your households.
If they paid a bit more attention to a true economic colony like Australia they could be smiling.
Mr Robb could pay them a visit – nice place for a working holiday.