Boom Times For Brazil's Consumers

TranceAddict Forums (www.tranceaddict.com/forums)
- Political Discussion / Debate
-- Boom Times For Brazil's Consumers

Posted by CHRles on May-24-2008 06:23:

Boom Times For Brazil's Consumers

http://www.nytimes.com/2008/05/24/b...ted=1&ref=world

Posted by jerZ07002 on May-25-2008 00:12:

quote:

The typical home mortgage rate is 12 percent a year; a car loan is about 14 percent to 15 percent; and for consumer goods, rates vary between 42 percent and 43 percent, said Felix Cardamone, president of the Brazilian Association of Credit Card and Service Companies.

yikes!! i barely use my credit as it is, and my credit card rates are around 7 - 9%. At 42% why would anyone take out a line of credit? Those kinds of rates are stifling. A 12% mortgage is a bit ridiculous also.

Posted by Lira on May-25-2008 04:44:

It used to be worse, actually.

I'm glad that this time around the economy is growing thanks to the help of a democratic government. Although Brazil was the fastest growing country in the world during the 70's, for example, the military dictatorship put most of the country in a cast, so to speak, and we were soon brought the whole country to a halt because of the unbelievably high inflation rates.

I was born in that period, and I remember how tough it used to be.

Posted by Sunsnail on May-25-2008 06:44:

I DO bvelive that The BRIC (BRAZIL CHINA RUURSSER INDIA) economy will bom and prosper and that all those who were wise enoughj toe invest will reap the profits. I hope that brazil profeits quite well. Yay brazil;