Mario Cavolo

Wrapping up our fabulous month's holiday from east to west across the landscape of America, and especially as I've spent this past month with a keen eye to observe the impact of the economic downturn here, I appreciate this article on the economic rebound taking place in Brazil...eerily similar to what is happening in China...and an article every one of us should read so as to understand the shifts happening across the world's societies and economies. These things ARE affecting YOUR life. Here's a hint, the current crisis is over, as I am witnessing levels of spending broadly across America, however with particular shifts in the landscape of people's lives that I will be writing about in a series of articles..Cheers, M

...more than 20 million Brazilians who've joined the consumer economy in recent years and now have money to spend are playing a key role in Brazil's recovery. Brazilians who formerly eked out a living are leading the way. From 2001 to 2007, the poorest 10 percent of the population enjoyed a 49 percent increase in real income, said Brazilian economist Marcelo Neri , or what he called "Chinese-like growth..."Investments and exports are down, but consumer spending is still growing, although slower than before," said Juan Pablo Fuentes , who tracks Latin American economies at Moody's Economy.com in West Chester, Pa. "People are still willing to buy durable goods like electronics and cars. It shows optimism, which is important."

Some 27.8 million Brazilians — out of a population of nearly 200 million — joined the consumer economy from October 2003 to October 2008 , said Neri, who's based at the Getulio Vargas Foundation in Rio. "They could now buy durable goods like computers, maybe even a car, and get access to credit," Neri said.

Spurred in part by a federal sales tax break, Brazil's auto industry sold more cars in a single month in June than ever — 300,157. This topped the previous monthly record in July 2008 by 12,047 vehicles.

To read the complete article, click below...
Brazil's Growing Middleclass Powers Their Economic Rebound