Rio - 1,280 businesses closed since January 1 through May

[mvan1]

The below cited article shows more reasons why the Brazilian Real continues to decline against the US dollar (and some other currencies).

Just since the first of this year and only through May of this year, 1,280 businesses have closed.

Those closures have to have a devastating effect on Brazil's economy as other cities in Brazil report similar closures of establishments.

This also explains why there are so many more garotos in the saunas and in other areas where hustlers are found.

Here is today's article:

http://riotimesonline.com/brazil-news/rio-real-estate/over-1000-shops-have-closed-in-rio-de-janeiro-already-this-year/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+TheRioTimes+%28The+Rio+Times%29

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[JAYBLK]

So sad. They are in a doom loop. Most large businesses borrow in USD. Their expenses are up 50% just from currency shifts. They lay off people to compensate and so on and so forth. I know many people who expect to see R$4:USD$1 in the next 6 months.

[Guest tomcal]

Dollar to Reais today $1. - $3.50 last time it was at the rate was 2003! Today analysts predict it will get to $3.75 by end of the year!

[docbr]

What I would give to earn in USD hehehe

A raise in the USD price in Brazil was not unexpected, but its sad to see it is increasing the speed on inflation rates rise (already at 10% yearly).

I think its a good time for a massive influx of tourists to brazilian saunas... That would be a help to the boys... But please, dont help inflation raising the programa value... Please follow the "Tomcal model"... Instead of doubling the programa value, take 2 or 3 guys to the cabins! Share the wealth and raise productivity kkkk

[MsGuy]

"... Instead of doubling the programa value, take 2 or 3 guys to the cabins! Share the wealth and raise productivity kkkk

Well, productivity in services is notoriously difficult to capture statistically.

At first glance, using three guys to achieve the same end as one would seem to lower labor productivity but then you have the almost impossible task of adjusting the data to allow for increased quality of the experience.

A difficult call that would call for a great number of trials to get right, IMHO.

[RA1]

One should live so long.

Best regards,

RA1

[Guest Erostotle]

The drop in the real may benefit us, but it has damaged the entire country- all because of corruption:

http://www.nytimes.com/2015/08/09/business/international/effects-of-petrobras-scandal-leave-brazilians-lamenting-a-lost-dream.html

[Guest Trench]

When everybody and everything in Brazil should be gearing up for next year’s summer olympics, the whole country now is on a stand-still due to the extent of corruption being uncovered? They better brace themselves for the international humiliation awaiting them. Brazilian self-esteem and patriotism, not the most laudable thing about them even on the best of circumstances, will never recover.

Why don't they employ idle manpower to clear the Lagoa of dead fish and floating fecal matter.

[RA1]

I am very sorry about the negative things going on in Brazil. I wish them (and us) nothing but the best. Should we all go to Canada for a change where the USD is now worth 1.33 CD?

Best regards,

RA1

[mvan1]

There is already enough negative things about Brazil's economy. Now there is a presidential veto over tips in a restaurant!

What is happening to our once great and upcoming Brazil?

See this:

http://riotimesonline.com/brazil-news/rio-politics/brazils-rousseff-vetoes-bill-for-mandatory-tiping/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+TheRioTimes+%28The+Rio+Times%29

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[RA1]

Do you think politicians are the root cause of all of this anguish? I do.

Best regards,

RA1