Home > Economia e Política no Brasil > Bolha Subprime no Brasil?

Bolha Subprime no Brasil?

28 February, 2011 Leave a comment Go to comments

“the debt service burden has risen to 24 per cent of disposable income and is set to rise further as rates push higher. We expect the burden to rise to an exorbitant 30 per cent by 2012. To put this into context, the US consumer “blew up” when the debt service burden hit 14 per cent (with a current read of approximately 12 per cent). In other words, the Brazilian consumer has twice the debt load from a cash flow perspective relative to a US consumer who is still widely regarded as being over leveraged. The situation in Brazil is worryingly similar to the sub-prime crisis in the US. A lot of credit is being pushed by the banks at high rates to consumers who ultimately won’t be able to service the debt. There are also ominous signs of what economist John Kenneth Galbraith called the “bezzle” beginning to appear above the surface. In November 2010, a small bank, Panamericano, was found to be fudging its credit losses in consumer lending”

– Brazil May be Heading for a Subprime Crisis, Financial Times

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(*) Agradeço ao colega Martin Rapetti por ter enviado o link.

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