Venezuela Unofficially Enters Hyperinflation

[luiz]

You impeached Rousseff because of what? Where exactly in the constitution does it say that a president cam be impeached because it caused an economic crisis?

The truth is that an economic crisis is not an impeachable offense (but it does offer a political opportunity for doing it anyway). No was Rousseff corrupt, no one ever managed to charge her of anything. Unlike the vast majority of those who cast votes to impeach her, who most certainly are corrupt, many in trial and others already condemned. It was a coup, plain and simple. The actual excuse used to impeach her was illegitimate, a false charge.

The real reasons she was impeached were the monumental, unprecedented economic collapse that her idiocy caused, plus the multi billion ransacking of the country carried out by her party. This resulted in a president that had almost no suport in Congress, and was the most unpopular in history among the people. In short, there was not way she could rule. So we found a reason to impeach her - a valid and legal reason, BTW, which was thoroughly proved. It's just that a competent and popular president would not be impeached for that alone - but she was neither.

As for her not being corrupt... She was in the board of directors of Petrobras AND was the Minister of Energy during the height of the ransacking... She personally named most of the directors that did the stealing. If Brazil was the US, she'd be in prison for a loooong time.

 

[luiz]

In America the president can't cause an economic contraction anywhere near that scale. Hoover raised taxes at a bad time and Carter appointed an interest rate nutjob that's about as close as we've come. Is Brazil really so different?

The Brazilian president is vastly more powerful than the American one (in relative terms, obviously).

Remember Brazil was an imperial monarchy following independence, unlike the rest of the American nations. Now we have an elected Emperor.

Among the many extra powers that the President of Brazil has is authority over the Central Bank, which unlike the Fed is not independent. So Dilma, who is an explosive combination of deep stupidity and arrogance, actually set monetary policy herself. Which was one the causes of the economic depression.