Brazilian Economist (Conceição)

What should Brazilian Economists and policy makers have learned from the crisis? by Daniel N. Conceição. “…the monetary stimulus cannot be the only tool protecting the Brazilian economy against the economic storm coming from the North. In fact, with its combination of an easy-money policy and fiscal conservatism, the Brazilian government may be helping to create a private-debt-bomb set to explode right in the middle of a global recession, when Brazil’s economy can least afford it…Thus, it is time for the Brazilian government to challenge all economic delusions that say that public austerity can ever be a way out of recessions and start spending with no concern for its own debt.”