‘Uzmercáduz’ are the reactionary cream – 03/16/2023 – Reinaldo Azevedo

Research by Genial-Quaest released on Wednesday (15) reveals more than the opinion of 82 financial market executives. It exposes the core of national reactionaryism, a piece of the market economy corroded by dumb “merchanism”, the contamination of these luminaries by troglodyte Bolsonarism, flirting with an ethically and morally degenerate country and, additionally, a probable carelessness with third-party money.

Note: there is some effort to make “Uzmercáduz” a metaphysical entity. In Gil Vicente’s terms, they would be “Todo Mundo” and “Ninguém”. So, if you have caraminguás deposited, it would be a market too. Smooth talk. Quaest heard from 82 people. As a matter of fact, I’m not on the list. And you? The composition of the sample, moreover, is not that of an electoral survey. The fact that we would all be punished for a debt default does not make us part of “d’Uzmercáduz”. I don’t work in the animal protein sector just because I eat a steak, although it is true that, without beef, there is no meat.

Before the end of the third month of Lula’s government, 98% of the brave think that the economic policy is wrong. As they are not ethereal beings, it is likely that they would agree with Guedes-Bolsonaro’s. What “economic policy” are you talking about now? Before having the new fiscal framework —the president himself will only know the details of the proposal this Friday (16)—, how to be judicious about it? It’s just reactionary disguised as technical judgment. When they find out, will they like it? I reply at the end of the text.

The demonized Transition PEC still weighs heavily in this assessment. Without her, it would have been impossible, for example, to resume Minha Casa Minha Vida in the country of the buried. 90% of orthodoxy exegetes claim that fiscal policy will not generate public debt sustainability. It’s just influential terrorism.

Another charming fact: for 68%, the government would not be concerned about fighting inflation, who knows why. Perhaps Lula’s correct criticism of the Selic fuels this opinion. According to 90%, the BC was right to keep the rate at 13.75%. Ten percent say they trust Fernando Haddad, finance minister; 38% did not. They are left with a “more or less” 52%. The Beelzebubs are Gleisi Hoffmann and Aloizio Mercadante, presidents, respectively, of PT and BNDES. 98% don’t trust them.

The reservation is even understandable in the case of Gleisi, without going into the merits of his opinions. Ahead of the main party of the base, it goes to the clash. And what about Mercadante? What decision did you make or what statement did you make that affronted your tax liability? Lula’s negative index, in this regard, is 94% —Bolsonaro’s is lower: 74%. Careful! No less than 20% of those who theoretically look after their money trust the guy with pistols & diamonds. What mud!

I do not diminish the importance of these people. They exist and they can cause great damage. A spectacular 68% bet on Roberto Campos Neto, president of BC. He commands the institution that raised the Selic rate from 2% to 13.75% in two years, going from a negative real rate of 0.75% to a positive rate of around 8% now. As Angela Ro Ro sings in “Gota de Sangue”, affection should not be confused with desire. Nor trust with gratitude.

The invisible hand “duzmercáduz” is trembling. Two American banks and one European bank went to vinegar. These are the regulatory failures in which scoundrels are committed with impunity. Joe Biden and the Swiss Central Bank guarantee: no one lets go of anyone’s hand, no matter the amount deposited. After all, the markets are the people, right? The reason for the entry of the State’s visible hand is elementary: if full deposits are not guaranteed, account holders will flee smaller banks, and the specter of a systemic crisis arises.

I remain a fan of the markets, “as some of you are,” referring to last week’s column. I remain attentive to its ability to produce marvels —if contained by ethical parameters— and horror, if surrendered to nature itself. So it is with all that is human. Around here, a lot of horror was produced in four years, which amazed our geniuses, nostalgic for the “destroying destruction”.

Will these people like the proposed fiscal framework? Camões responds with another question: “What will be the love of a nymph enough to sustain that of a Giant?”

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