In today’s issue: Are economic elites abandoning Jair Bolsonaro? Even Bolsonaro’s party is disgruntled.
Are economic elites abandoning Jair Bolsonaro?
Midway through the 2018 election campaign, Jair Bolsonaro was able to attract the blind support of economic elites, thanks largely to his economic guru—the ultra-libertarian Paulo Guedes—and the fact that he was running to beat the Workers’ Party. But the alliance is under threat, according to recent signs. If the president is not already worried about his job security, perhaps he should be.
House Speaker Rodrigo Maia spent the weekend trading barbs with the government. He reportedly said the pension reform “is above [Bolsonaro’s] administration,” and that it would pass in spite of the president (who told supporters he is, in principle, against the reform). Another sign that should be worrying Mr. Bolsonaro is the statement made by São Paulo Governor João Doria, that Economy Minister Paulo Guedes “must be shielded” from the political crisis.
Mr. Doria is deeply connected to big business, and his change of tone suggests that, should the business class be forced to choose between defending the president or backing Mr. Guedes’ liberal agenda, it would go for the latter. Meanwhile, Vice President Hamilton Mourão will...