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The devaluation of the dollar seems to worsen every day and it is a serious problem. However, many middle-class Brazilians see this as an opportunity to invest.
From apartments in Miami to New York, from Armani to Chanel, from the Porsches to Bugattis. Nothing goes unnoticed by the powerful Brazilian elites who increasingly are welcome to display their way of life.
Before Lula's poverty was much greater. This was caused by successive economic crises of the late '90s. There was no liquidity in the market. Sales at department stores were just "normal."
But with the economic growth that was recorded from 2005 to date (this year Brazil will grow 7%), many things have changed. There was the emergence of a new middle class, about 30 million people eager to consume. The traditional middle class also came on the heels and began to consume more.
Ribeirão Preto: "Brazilian California"
Three luxury malls were opened in Sao Paulo. The luxury reached the interior of Brazil, where a region called the "Brazilian California" began to see the Porsche dealership appear.
And with the reduction of violence in many places, luxury came out (in the state of violence is the lowest in 15 years, and Rio is a trend toward lower violence as well). The fact is that before the lower middle class can now buy new cars. The average middle-class can buy luxury items. The upper middle class may invest in other countries. And the upper classes, well, remain inside their stately palaces and mansions, but they feel less guilty and walking the streets of Sao Paulo showing off their Ferraris.
During the Motor Show that was held a few weeks ago, we can verify these facts: 45 Italia Ferrari 458 and Ferrari 599 GTO were sold. Five Porsche GT2 RS and a Lamborghini Gallardo LP 570-4 Superleggera has arrived with new owners. Even a Bugatti Veyron has been sold.
It is as if the emerging Brazil had actually emerged. Indeed this is the thinking of most of the population: more than half the population sees Brazil as an international power. This optimism is dangerous and can cause devastating damage in the future.
Maybe I'm a pessimistic or too cautious. But judging by the last meeting of the G20 is increasingly clear that lack of consensus among leaders can lead the world into a trade war. And unfortunately, all this luxury, all that fuel consumption in Brazil will be for the emergence of an economic crisis.
