Saturday 9 October 2010

Bulgaria rules Brazil, OK?

It looks like it will be Dilma Rousseff. How could she lose, with Lula telling Brazilians: 'A vote for Dilma is a vote for me'? Her father emigrated from Bulgaria in the 1930s and she was raised in Belo Horizonte. Two Belo Horizonte stations, Radio Itatiaia and Radio Inconfidencia, come in well here every night on the 49mb. Dilma is riding the crest of the Lula wave, while Brazil is riding the crest of the China wave. When Lula was elected in 2002, the country seemed to be on the brink of default. The benchmark Brazilian C bond was trading at 50c on the dollar and prospects looked bleak. How things have changed! Brazilian stocks are the darlings of the emerging markets now. Without Lula, Dilma would be pretty unelectable. In appearances around the country the people turned out to see him, not her. He has cult status. Like Tony Blair, she has never been elected to office before. No worries, mate: Brazil is on a roll now, with or without her. Or so it is thought. It will be interesting to look back in a few years and see how she's done. The QSL is from Radio Globo in 1968, the first Brazilian station I ever QSLd.

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