Announced on CNN Brazil this Saturday, inflation went up to just over 1% in September and 10.2% for the year period. That is far greater than Paulo Guedes recent projection that it was on par with the USA at 7% or 8%.
Cited from my blog of September 10 – In a virtual event with Brazilian retail companies on Monday 23rd August, Paulo Guedes said that inflation was under control in Brazil. “There is no lack of control. Inflation is rising all over the world,” the economy minister said, adding that US inflation should be around 7%. “Ours will be 7% or 8% too; we're in the game.”
When leaders brag about their optimism it becomes a laughable matter, but the reality is sadness. Paulo Guedes announced last week that the government would spend above the ceiling for the welfare of the poor Brazilian suffering in the aftermath of the pandemic.
The stock exchange hiked, the dollar rose, and economists are adamant that inflation will follow. All in all, the situation is spiraling out of control. It isn’t only the poor that need financial assistance, and therefore the consequence of the government maneuver will make matters worse for the majority of middle class.
On a positive note, we have the ability to maintain a rosy outlook by controlling our emotions, concentrating on getting more out of ourselves, and directing towards spiritual enlightenment. All is not lost: we have the strength to take on the new challenges, the force to rise above the difficulties, and the power to succeed. The new awakening is upon us!
Written by Carl Boniface