An initiative to promote the so-called independence of the central bank, far from complying with ideas approved by Congress in the law that gave rise to it, concerned only with inflation targets
The intellectual and military general Nelson Wernick Sodry, in the midst of a long and prolific career as a researcher of nationalist problems, released Varca do neoliberalismo in 1995, his latest work. The initial character of the book shows its complete adequacy. Sudry points out, “The concentration of income is a global phenomenon and only indicates a crisis of capitalism which, for this very reason, seeks to reorganize the world according to the interests of capital.”
Fragments of the neoliberal wave spread across the world, especially in the early 1980s with the rise of Ronald Reagan and Margaret Thatcher in the US and UK respectively. The emergence of this economic matrix has turned central banks into a revolving door for financial markets. Instead of acting as regulators and agents of monetary policy, attacking inflation as well as promoting full employment, they merely act as “regulators” of public debt, practicing deflationary policies that hinder the growth of economies.
Isn’t it, for example, what we are currently seeing in Brazil? The initiative to promote so-called autonomy in British Columbia—an age-old aspiration of Brazilian rentierism put into action by a Chicago boy, Paulo Guedes—far from fulfilling the ideas approved by Congress in the law that gave rise to it, is concerned only with inflationary goals. Forget job creation. This is where the real “garrot” over the economy comes in: the stratospheric interest rate of 13.75, which stifles investment and economic growth.
Responsibility for public accounts has long been the keyword of the governments led by Lula. He was the president who canceled debts with the International Monetary Fund and paved the way for a massive increase in Brazil’s foreign exchange reserves. It is 275 billion US dollars that supports the country and prevents the vicissitudes of international crises and their repercussions on Brazil.
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The future of the nation depends on growth. It is necessary to instill hope in the hearts and minds of the Brazilian people. This requires social justice and citizenship. The old elites could no longer carry out their well-worn motto: “A little flour, my mash first.”
This article does not represent the opinion of Brasil 247 and is the responsibility of the columnist.
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