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That's how governments around the world tried to conceal the deceleration of economy, encouraging people to get into debt. Was funny to see the Brazilian gover
by epx 10y ago
That's how governments around the world tried to conceal the deceleration of economy, encouraging people to get into debt. Was funny to see the Brazilian government commit the same error in late 2000s.
- forinti 10y agoThe dose makes the poison. In Brazil, people started getting their _first_ mortgages. In the US, people had 5 or more at the height of the subprime boom. Only recently has credit for second mortgages been available in Brazil.
- marcosdumay 10y agoIn Brazil the best mortgages available have about 13% interest. It's basically impossible to reach the same debit level of the US, but consequences are much more severe.