Power

Never waste a good crisis? Someone should tell Jair Bolsonaro

After Brazil's markets crashed on Monday, there are signs of a truce between the government and Congress—but Jair Bolsonaro is unlikely to let that happen

Jair Bolsonaro
“Not politically correct,” shows Jair Bolsonaro. Photo: Alan Santos/PR

The Brazilian economy took a pounding on Monday morning, with benchmark stock index Ibovespa tanking 10 percent and triggering a circuit breaker, before falling further to close out the day at 86,067 points—down 12.16 percent. The U.S. Dollar hit highs of BRL 4.79 against the Brazilian Real, now hovering around BRL 4.72. And to compound this perfect storm of instability, President Jair Bolsonaro has endorsed calls for street protests this Sunday, organized by groups that openly advocate for the closure of Congress and the Supreme Court.



The financial plunge around the world can be credited...

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