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16 May 2008

Brazil facts of the day


1. Brazil has become a net creditor nation for the first time in its history.

2. About 15% of the Congress is under formal investigation for crimes, ranging from attempted homicide to money laundering.

3. Since 2005 more than 20 million people have entered "the middle class," defined as a monthly income of $635.  The percentage of middle-class Brazilians has grown from 34% to 46%.

Those facts are all from "Brazil Joins Front Rank of New Economic Powers," in Tuesday's Wall Street Journal.

Marginal Revolution 5/15/08 3:11 PM Tyler Cowen Current Affairs

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