When a stock market surge reflects bad government

That´s the case of Brazil in the last 3 weeks since rumors and then confirmation of a big drop in President Dilma´s approval ratings . With that her chances of not getting reelected in October (unlikely) nevertheless increased ever so slightly. In 16 trading days the stock market rose 16%! Dilma_Bovespa But does the president and her aides read that correctly? You can bet no. As her Chief-of-Staff said when interviewed about the poll results:

Ministers and aides working on Rousseff’s pre-election campaign were invited to discuss reasons for the seven-point drop in the government’s approval ratings.

For Aloizio Mercadante, Rousseff’s Chief-of-Staff, the poll is “another reason for us to work extremely hard to improve Brazil and improve life for the Brazilian people.”

By which he means “let´s throw more goodies at them”!

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