Today’s blog is for those people who want to earn easy money in the unfair country we live in. The rich get richer, and the poor get poorer! If like me you are middle class then don’t count your chickens! However, if you come into some extra cash then 10% interest a year is just about guaranteed over the foreseeable future in Brazil.
I wrote a blog earlier in the year about Legal Theft which talks about the Brazilian Central Bank base rate for Brazil which is currently 12.25%. That’s great for those with extra capital to invest, but for +90% of the population that is bad news. Interest is very high on loans for property purchases, automobiles, and for home-improvements, or anything else of value including business loans. Those with money make more money and those who need to borrow money have to pay much more than inflation which is around 4.75% in 2023.
That’s great for the upper class and privileged salary earners, as they can earn sufficient additional revenue (profits) to live off investments for their cost of living. Financial institutions are also laughing as interest rates on overdrafts, credit cards, and bank related loans are all high. In other words, the banking world owns Brazil, not the government, or the people. They set the rules and it sucks! They control wealth distribution, and under such diabolical circumstances I cannot for one second believe Brazilians will have the upper hand whoever they elect as president.
Here is another point that defies belief. The average Growth Domestic Product (GDP) per capita in Brazil for 2023 is said to be around US$10,000 whereas +90% don’t earn anything like that in salary; it’s more like 30%. Another country to consider is Israel which is in the middle of the desert, so raw material sources aren’t as abundant as in Brazil. Their GDP is US$52,170.71 per person which means the Israeli wealth is dispersed fairly as the monetary system serves the population.
In broad terms, an increase in real GDP is interpreted as a sign that the economy is doing well. When real GDP is growing strongly, employment is likely to be increasing as companies hire more workers for their factories and people have more money in their pockets.
That being said, if you want to get ahead then work two jobs, stop spending cash, economize by reducing overheads, and save every spare cent you have. Or simply get on with life, accept the situation, and stop moaning!
Have a terrific day!
Prof. Carl Boniface
Vocabulary builder:
Count your chickens
variants or British count one's chickens before they're hatched. usually used in negative statements to mean that someone should not depend on something hoped for until he or she knows for certain that it will happen.
don't be too confident in anticipating success or good fortune before it is certain. "I wouldn't count your chickens—I've agreed to sign the contract but that's all I've agreed to."
In broad terms (idiom) = is a correct and usable phrase in written English. It is used to describe when you are discussing a subject in general or giving a simplified definition. For example, "In broad terms, a volcano is an opening in the earth's surface through which lava, ash, and gases are released.".
Overheads (n) = expenses, outlays, expenditures, outgoings, payments, outflows, costs, disbursements, bills, spending, business costs, (ant) incomes
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