Saturday, March 6, 2010

New Consumer Capital of the World

Ok, I am exagerating a bit, but I dug up this great  NY Times article which highlights the ascent of millions of poor in Brazil into the middle class. It is from 2008, but things have just gone uphill since then...

You can call the Brazilian president Lula a populist, but his assistance programs have changed the lives for millions, indeed. By some estimates, over 30m have moved from the poor classes into the so-called "C-Class", which is the Brazilian middle class, where people have access to FMG, holiday trips, cars and their first own home.

And if I look at the last part, depending on how well policy is maintained, we may be looking at a serious real estate bubble in some parts of Brazil (São Paulo is probably a good bet) in the near future...

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