IBOV 175,967 ▲ 0.13% IPSA 10,928 ▲ 0.16% IPC MEX 66,689 ▲ 1.08% MERVAL 3,231,038 ▼ 0.13% COLCAP 2,292.84 ▼ 0.64% BVL PERÚ 56,428.20 ▲ 1.53% USD/BRL5.07▼ 1.23% USD/MXN17.43▼ 0.58% USD/CLP924.91▼ 0.86% USD/COP3,250▼ 0.39% USD/PEN3.39▼ 0.66% USD/ARS1,473▼ 0.71% USD/UYU40.23▲ 0.99% USD/PYG6,039▲ 1.12% USD/BOB10.35▲ 6.04% USD/DOP58.34▲ 0.44% USD/CRC448.93▲ 1.31% USD/GTQ7.62▲ 2.07% USD/HNL26.73▲ 1.38% USD/NIO36.62▲ 0.63% USD/VES722.19▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD156.98▲ 0.25% USD/TTD6.75▲ 1.19% EUR/BRL5.80▼ 0.43% BRENT 84.64 ▲ 1.61% WTI 79.13 ▲ 1.27% IRON ORE 161.91 — — COPPER 6.37 ▲ 2.21% GOLD 4,069 ▲ 1.79% SILVER 59.13 ▲ 2.60% SOY 1,192 ▼ 0.81% CORN 460.75 ▲ 5.25% WHEAT 645.75 ▲ 2.99% COFFEE 324.55 ▼ 4.94% SUGAR 14.92 ▲ 1.15% ORANGE JUICE 140.60 ▼ 1.37% COTTON 81.68 ▲ 2.32% COCOA 5,912 ▲ 3.79% BEEF 231.80 ▼ 1.25% CATTLE 348.85 ▼ 1.55% LITHIUM 71.24 ▲ 1.43% PETR4 40.56 ▼ 0.25% VALE3 74.06 ▲ 1.66% ITUB4 43.39 ▼ 0.30% BBDC4 18.50 ▼ 1.44% ABEV3 15.84 ▲ 0.06% BBAS3 20.50 ▲ 1.28% B3SA3 15.32 ▲ 1.32% WEGE3 44.22 ▼ 0.38% PRIO3 56.98 ▼ 0.38% SUZB3 41.37 ▼ 0.29% RENT3 40.39 ▲ 0.47% AZZA3 18.80 ▼ 2.19% CSAN3 3.88 ▼ 0.51% RAIZ4 0.31 ▼ 6.06% PCAR3 2.47 ▼ 4.63% GMAT3 3.95 ▲ 0.25% PSSA3 54.20 ▲ 0.30% CVCB3 1.33 ▲ 6.40% POSI3 3.93 ▼ 1.50% SLCE3 13.71 ▼ 1.15% NATU3 8.51 ▼ 1.05% BRKM5 6.65 ▼ 4.18% RANI3 8.02 ▲ 0.88% CSNA3 5.12 ▼ 2.29% CMIN3 5.15 ▼ 5.50% USIM5 8.26 ▼ 1.43% GGBR4 23.16 ▲ 1.49% ENEV3 26.77 ▼ 0.41% CPFE3 47.19 ▲ 0.75% CMIG4 11.11 ▲ 0.36% EQTL3 40.72 ▲ 1.27% LREN3 14.12 ▼ 0.21% VIVT3 35.43 ▲ 2.02% RAIL3 14.13 ▲ 0.14% KLABIN 17.40 ▼ 0.46% RAIA DROGASIL 18.32 ▲ 0.66% RDOR3 35.73 ▲ 0.48% HAPV3 10.64 ▲ 1.72% FLRY3 16.35 ▲ 1.24% SMTO3 16.19 ▼ 1.10% UGPA3 29.90 ▼ 3.33% VBBR3 32.82 ▲ 0.18% BBSE3 40.24 ▼ 0.10% BPAC11 57.70 ▲ 0.31% CURY3 32.67 ▼ 1.36% AERI3 2.08 — 0.00% VIVARA 23.31 ▲ 0.87% COMPASS 25.19 ▲ 1.70% VAMOS 3.05 ▲ 0.99% SANB11 27.28 ▼ 0.33% ASAI3 8.65 ▼ 0.69% SBSP3 30.35 ▼ 0.07% WALMEX 49.53 ▼ 0.24% GMEXICO 200.46 ▲ 2.49% FEMSA 233.44 ▲ 3.59% CEMEX 22.19 ▲ 1.88% GFNORTE 187.05 ▲ 2.74% BIMBO 56.61 ▲ 1.32% TELEVISA 9.47 ▼ 1.46% AMX 22.87 ▲ 1.24% GAP 389.89 ▼ 4.48% ASUR 278.64 ▼ 0.01% OMA 234.04 ▲ 0.31% KOF 181.82 ▲ 0.08% GRUMA 282.09 ▲ 0.26% KIMBER 38.40 ▲ 0.47% SQM-B 67,438 ▲ 0.34% COPEC 6,077 ▲ 0.33% BSANTANDER 78.86 ▲ 0.84% FALABELLA 5,916 ▲ 0.19% ENELAM 85.43 ▲ 1.46% CENCOSUD 2,044 ▲ 0.19% CMPC 1,076 ▼ 0.19% BANCO CHILE 188.21 ▲ 1.74% LATAM AIR 24.88 ▼ 0.08% YPF 77,150 ▼ 0.03% GGAL 8,015 ▼ 0.80% PAMPA 5,185 ▼ 0.77% TXAR 661.00 ▼ 0.53% ALUAR 959.00 ▼ 0.57% TGS 9,695 ▲ 1.31% CEPU 2,313 ▼ 0.26% MIRGOR 16,825 ▼ 1.03% COME 45.15 ▲ 0.83% LOMA NEGRA 3,550 ▲ 1.50% BYMA 302.00 ▼ 2.03% TELECOM ARG 4,285 ▲ 0.82% ECOPETROL 16.02 ▲ 0.85% BANCOLOMBIA 81.33 ▲ 1.13% GRUPO AVAL 4.90 ▼ 0.20% CREDICORP 391.08 ▲ 0.48% SOUTHERN COPPER 179.98 ▲ 3.12% BUENAVENTURA 30.68 ▲ 2.88% MERCADOLIBRE 1,872 ▲ 0.25% NUBANK 14.03 ▲ 2.61% XP 16.79 ▲ 2.57% PAGSEGURO 9.24 ▼ 0.48% STONE 11.21 ▲ 0.54% GLOBANT 31.75 ▼ 1.15% TECNOGLASS 43.44 ▲ 1.40% GAP AIRPORT 223.72 ▼ 3.89% ASUR 278.64 ▼ 0.01% OMA AIRPORT 107.46 ▲ 1.26% AMX ADR 26.20 ▲ 0.65% FEMSA ADR 133.99 ▲ 3.86% CEMEX ADR 12.75 ▲ 2.41% PETROBRAS ADR 17.90 ▲ 0.08% VALE ADR 14.57 ▲ 2.72% ITAU ADR 8.54 ▲ 0.80% SANTANDER BR 5.40 ▲ 0.84% AMBEV ADR 3.10 ▲ 1.14% CSN 1.02 ▼ 0.97% GERDAU 4.58 ▲ 2.00% LATAM ADR 53.72 ▲ 0.72% BTC 64,491 ▲ 3.62% ETH 1,868 ▲ 5.33% SOL 77.06 ▲ 2.94% XRP 1.10 ▲ 3.40% BNB 579.93 ▲ 2.35% ADA 0.16 ▲ 4.18% DOGE 0.07 ▲ 3.58% AVAX 6.64 ▲ 3.04% LINK 8.25 ▲ 4.77% DOT 0.85 ▲ 2.09% LTC 44.55 ▲ 2.44% BCH 236.91 ▲ 0.29% TRX 0.33 ▲ 0.39% XLM 0.18 ▲ 1.88% HBAR 0.07 ▲ 0.28% NEAR 2.04 ▲ 6.27% ATOM 1.55 ▲ 1.24% AAVE 99.20 ▲ 5.13% SELIC 14.25% EMBRAER 82.80 ▼ 0.25% EMBRAER ADR 65.28 ▲ 1.24% JBS 11.82 ▲ 0.13% JBS BDR 59.82 ▼ 1.30% MBRF3 16.09 ▲ 2.35% MBRFY 3.10 ▲ 1.64% INTER 5.68 ▲ 0.44% IBOV 175,967 ▲ 0.13% IPSA 10,928 ▲ 0.16% IPC MEX 66,689 ▲ 1.08% MERVAL 3,231,038 ▼ 0.13% COLCAP 2,292.84 ▼ 0.64% BVL PERÚ 56,428.20 ▲ 1.53% USD/BRL 5.07 ▼ 1.23% USD/MXN 17.43 ▼ 0.58% USD/CLP 924.91 ▼ 0.86% USD/COP 3,250 ▼ 0.39% USD/PEN 3.39 ▼ 0.66% USD/ARS 1,473 ▼ 0.71% USD/UYU 40.23 ▲ 0.99% USD/PYG 6,039 ▲ 1.12% USD/BOB 10.35 ▲ 6.04% USD/DOP 58.34 ▲ 0.44% USD/CRC 448.93 ▲ 1.31% USD/GTQ 7.62 ▲ 2.07% USD/HNL 26.73 ▲ 1.38% USD/NIO 36.62 ▲ 0.63% USD/VES 722.19 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 156.98 ▲ 0.25% USD/TTD 6.75 ▲ 1.19% EUR/BRL 5.80 ▼ 0.43% BRENT 84.64 ▲ 1.61% WTI 79.13 ▲ 1.27% IRON ORE 161.91 — — COPPER 6.37 ▲ 2.21% GOLD 4,069 ▲ 1.79% SILVER 59.13 ▲ 2.60% SOY 1,192 ▼ 0.81% CORN 460.75 ▲ 5.25% WHEAT 645.75 ▲ 2.99% COFFEE 324.55 ▼ 4.94% SUGAR 14.92 ▲ 1.15% ORANGE JUICE 140.60 ▼ 1.37% COTTON 81.68 ▲ 2.32% COCOA 5,912 ▲ 3.79% BEEF 231.80 ▼ 1.25% CATTLE 348.85 ▼ 1.55% LITHIUM 71.24 ▲ 1.43% PETR4 40.56 ▼ 0.25% VALE3 74.06 ▲ 1.66% ITUB4 43.39 ▼ 0.30% BBDC4 18.50 ▼ 1.44% ABEV3 15.84 ▲ 0.06% BBAS3 20.50 ▲ 1.28% B3SA3 15.32 ▲ 1.32% WEGE3 44.22 ▼ 0.38% PRIO3 56.98 ▼ 0.38% SUZB3 41.37 ▼ 0.29% RENT3 40.39 ▲ 0.47% AZZA3 18.80 ▼ 2.19% CSAN3 3.88 ▼ 0.51% RAIZ4 0.31 ▼ 6.06% PCAR3 2.47 ▼ 4.63% GMAT3 3.95 ▲ 0.25% PSSA3 54.20 ▲ 0.30% CVCB3 1.33 ▲ 6.40% POSI3 3.93 ▼ 1.50% SLCE3 13.71 ▼ 1.15% NATU3 8.51 ▼ 1.05% BRKM5 6.65 ▼ 4.18% RANI3 8.02 ▲ 0.88% CSNA3 5.12 ▼ 2.29% CMIN3 5.15 ▼ 5.50% USIM5 8.26 ▼ 1.43% GGBR4 23.16 ▲ 1.49% ENEV3 26.77 ▼ 0.41% CPFE3 47.19 ▲ 0.75% CMIG4 11.11 ▲ 0.36% EQTL3 40.72 ▲ 1.27% LREN3 14.12 ▼ 0.21% VIVT3 35.43 ▲ 2.02% RAIL3 14.13 ▲ 0.14% KLABIN 17.40 ▼ 0.46% RAIA DROGASIL 18.32 ▲ 0.66% RDOR3 35.73 ▲ 0.48% HAPV3 10.64 ▲ 1.72% FLRY3 16.35 ▲ 1.24% SMTO3 16.19 ▼ 1.10% UGPA3 29.90 ▼ 3.33% VBBR3 32.82 ▲ 0.18% BBSE3 40.24 ▼ 0.10% BPAC11 57.70 ▲ 0.31% CURY3 32.67 ▼ 1.36% AERI3 2.08 — 0.00% VIVARA 23.31 ▲ 0.87% COMPASS 25.19 ▲ 1.70% VAMOS 3.05 ▲ 0.99% SANB11 27.28 ▼ 0.33% ASAI3 8.65 ▼ 0.69% SBSP3 30.35 ▼ 0.07% WALMEX 49.53 ▼ 0.24% GMEXICO 200.46 ▲ 2.49% FEMSA 233.44 ▲ 3.59% CEMEX 22.19 ▲ 1.88% GFNORTE 187.05 ▲ 2.74% BIMBO 56.61 ▲ 1.32% TELEVISA 9.47 ▼ 1.46% AMX 22.87 ▲ 1.24% GAP 389.89 ▼ 4.48% ASUR 278.64 ▼ 0.01% OMA 234.04 ▲ 0.31% KOF 181.82 ▲ 0.08% GRUMA 282.09 ▲ 0.26% KIMBER 38.40 ▲ 0.47% SQM-B 67,438 ▲ 0.34% COPEC 6,077 ▲ 0.33% BSANTANDER 78.86 ▲ 0.84% FALABELLA 5,916 ▲ 0.19% ENELAM 85.43 ▲ 1.46% CENCOSUD 2,044 ▲ 0.19% CMPC 1,076 ▼ 0.19% BANCO CHILE 188.21 ▲ 1.74% LATAM AIR 24.88 ▼ 0.08% YPF 77,150 ▼ 0.03% GGAL 8,015 ▼ 0.80% PAMPA 5,185 ▼ 0.77% TXAR 661.00 ▼ 0.53% ALUAR 959.00 ▼ 0.57% TGS 9,695 ▲ 1.31% CEPU 2,313 ▼ 0.26% MIRGOR 16,825 ▼ 1.03% COME 45.15 ▲ 0.83% LOMA NEGRA 3,550 ▲ 1.50% BYMA 302.00 ▼ 2.03% TELECOM ARG 4,285 ▲ 0.82% ECOPETROL 16.02 ▲ 0.85% BANCOLOMBIA 81.33 ▲ 1.13% GRUPO AVAL 4.90 ▼ 0.20% CREDICORP 391.08 ▲ 0.48% SOUTHERN COPPER 179.98 ▲ 3.12% BUENAVENTURA 30.68 ▲ 2.88% MERCADOLIBRE 1,872 ▲ 0.25% NUBANK 14.03 ▲ 2.61% XP 16.79 ▲ 2.57% PAGSEGURO 9.24 ▼ 0.48% STONE 11.21 ▲ 0.54% GLOBANT 31.75 ▼ 1.15% TECNOGLASS 43.44 ▲ 1.40% GAP AIRPORT 223.72 ▼ 3.89% ASUR 278.64 ▼ 0.01% OMA AIRPORT 107.46 ▲ 1.26% AMX ADR 26.20 ▲ 0.65% FEMSA ADR 133.99 ▲ 3.86% CEMEX ADR 12.75 ▲ 2.41% PETROBRAS ADR 17.90 ▲ 0.08% VALE ADR 14.57 ▲ 2.72% ITAU ADR 8.54 ▲ 0.80% SANTANDER BR 5.40 ▲ 0.84% AMBEV ADR 3.10 ▲ 1.14% CSN 1.02 ▼ 0.97% GERDAU 4.58 ▲ 2.00% LATAM ADR 53.72 ▲ 0.72% BTC 64,491 ▲ 3.62% ETH 1,868 ▲ 5.33% SOL 77.06 ▲ 2.94% XRP 1.10 ▲ 3.40% BNB 579.93 ▲ 2.35% ADA 0.16 ▲ 4.18% DOGE 0.07 ▲ 3.58% AVAX 6.64 ▲ 3.04% LINK 8.25 ▲ 4.77% DOT 0.85 ▲ 2.09% LTC 44.55 ▲ 2.44% BCH 236.91 ▲ 0.29% TRX 0.33 ▲ 0.39% XLM 0.18 ▲ 1.88% HBAR 0.07 ▲ 0.28% NEAR 2.04 ▲ 6.27% ATOM 1.55 ▲ 1.24% AAVE 99.20 ▲ 5.13% SELIC 14.25% EMBRAER 82.80 ▼ 0.25% EMBRAER ADR 65.28 ▲ 1.24% JBS 11.82 ▲ 0.13% JBS BDR 59.82 ▼ 1.30% MBRF3 16.09 ▲ 2.35% MBRFY 3.10 ▲ 1.64% INTER 5.68 ▲ 0.44%
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Opinion: Why is There No “Fora Temer” in Brazil?

By · July 13, 2017 · 3 min read

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Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL – As the Curmudgeon explained last year, the phrase “Fora Temer!” is best translated as “anyone but Temer”. You haven’t heard that cry much recently, and the main reason is that there’s nobody out there anyone really wants instead of Temer.

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That’s not quite true — the true believers of PT and other leftist parties still want Lula back in power, even though he’s just been sentenced to nine-plus years in prison by crusading Judge Moro. The true believers refuse to admit that Lula knew anything about the Mensalão or Petrolão schemes, much less that he was their mastermind.

But to get Lula back in power there must be elections — direct elections by the people, not indirect elections, by Congress. That is not going to happen. Congress is now controlled by right wing politicians, who are about to pass very unpopular legislation, and they don’t want Lula spoiling their fun.

Recently there have been two attempted parliamentary coups. The first was an effort to have TSE, Brazil’s electoral tribunal, declare the 2014 election null and void by reason of proof of the use of undue influence (meaning corruption) by the winning ticket. Had TSE voted that way, Temer would be unseated, and a new election called within ninety days—an election where the only voters were members of Congress.

STF/TSE Justice Gilmar Mendes put the kibosh on that plan, assisted by the votes of two brand new TSE judges, both of whom were appointed by President Temer after promising not to throw him out into the street.

Plan A having failed, but with Temer’s approval ratings at an abysmally low seven percent, the Congressional powers have resurrected Plan B. Plan B is what was done to former President Dilma—Congress conducted a “vote of no confidence” in Dilma’s regime, which they mendaciously called impeachment proceedings, and threw her out.

In theory, Congress is now considering the question of whether it will permit President Temer to be tried by the STF for corruption. If 342 federal deputies vote to permit the trial to go ahead, Temer must step down for 180 days, to be succeeded automatically by Rodrigo Maia, now President of the Chamber of Deputies. No election needed.

In reality, of course, the vote is whether 342 federal deputies still believe the Temer administration can push their program forward (“confidence”), or whether they would prefer one of their own to lead the charge (“no confidence”).

Rodrigo Maia, son of Rio’s former mayor César Maia, is publicly sitting on the fence, while surreptitiously lining up votes to take over power. Temer is openly exploiting Brazil’s spoils system, attempting to buy enough votes to stay in power. In Elio Gaspari’s phrase, “6 of one for 5½ of another” is what’s being haggled over.

The answer to the question in the title of this opinion is obvious.

The people of Brazil, dismayed by the shameless behavior of their elected representatives, have for the most part kept quiet, stunned into inaction. The people of Brazil know that Congress now has absolute power, and they know that Congress is absolutely corrupt. The people of Brazil know that no one represents them.

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