Sunday 18 May 2008

Brazil facts of the day

Tyler Cowen, over at Marginal Revolution, gives us his "Brazil facts of the day".

1. Brazil has become a net creditor nation for the first time in its history.

2. About 15% of the Congress is under formal investigation for crimes, ranging from attempted homicide to money laundering.

3. Since 2005 more than 20 million people have entered "the middle class," defined as a monthly income of $635. The percentage of middle-class Brazilians has grown from 34% to 46%.

3. sounds good, but 2. is somewhat worrying, to say the least. Makes New Zealand look very tame in comparison.

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