IBOV 175,948 ▲ 0.12% IPSA 10,928 ▲ 0.16% IPC MEX 66,674 ▲ 1.06% MERVAL 3,226,478 ▼ 0.27% COLCAP 2,293.58 ▼ 0.61% BVL PERÚ 56,428.20 ▲ 1.55% USD/BRL5.07▼ 1.22% USD/MXN17.43▼ 0.56% USD/CLP926.40▼ 0.70% USD/COP3,247▼ 0.48% USD/PEN3.39▼ 0.62% USD/ARS1,470▼ 0.88% USD/UYU40.23▲ 0.99% USD/PYG6,039▲ 1.12% USD/BOB10.35▲ 6.04% USD/DOP58.25▲ 0.29% 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▼ 0.40% BRENT 84.46 ▲ 1.39% WTI 79.03 ▲ 1.14% IRON ORE 161.91 — — COPPER 6.37 ▲ 2.18% GOLD 4,068 ▲ 1.78% SILVER 59.13 ▲ 2.59% SOY 1,191 ▼ 0.94% CORN 460.75 ▲ 5.25% WHEAT 644.50 ▲ 2.79% COFFEE 327.00 ▼ 4.22% SUGAR 14.92 ▲ 1.15% ORANGE JUICE 140.90 ▼ 1.16% COTTON 81.68 ▲ 2.32% COCOA 5,936 ▲ 4.21% BEEF 231.58 ▼ 1.34% CATTLE 349.63 ▼ 1.33% LITHIUM 71.40 ▲ 1.65% PETR4 40.54 ▼ 0.30% VALE3 74.16 ▲ 1.80% ITUB4 43.28 ▼ 0.55% BBDC4 18.41 ▼ 1.92% ABEV3 15.83 — 0.00% BBAS3 20.45 ▲ 1.04% B3SA3 15.38 ▲ 1.72% WEGE3 44.44 ▲ 0.11% PRIO3 56.91 ▼ 0.51% SUZB3 41.37 ▼ 0.29% RENT3 40.29 ▲ 0.22% AZZA3 18.79 ▼ 2.24% CSAN3 3.86 ▼ 1.03% RAIZ4 0.31 ▼ 6.06% PCAR3 2.46 ▼ 5.02% GMAT3 3.96 ▲ 0.51% PSSA3 54.15 ▲ 0.20% CVCB3 1.35 ▲ 8.00% POSI3 3.94 ▼ 1.25% SLCE3 13.68 ▼ 1.37% NATU3 8.51 ▼ 1.05% BRKM5 6.66 ▼ 4.03% RANI3 8.03 ▲ 1.01% CSNA3 5.14 ▼ 1.91% CMIN3 5.10 ▼ 6.42% USIM5 8.26 ▼ 1.43% GGBR4 23.14 ▲ 1.40% ENEV3 26.77 ▼ 0.41% CPFE3 47.17 ▲ 0.70% CMIG4 11.12 ▲ 0.45% EQTL3 41.01 ▲ 1.99% LREN3 14.15 — 0.00% VIVT3 35.47 ▲ 2.13% RAIL3 14.10 ▼ 0.07% KLABIN 17.40 ▼ 0.46% RAIA DROGASIL 18.37 ▲ 0.93% RDOR3 35.89 ▲ 0.93% HAPV3 10.67 ▲ 2.01% FLRY3 16.38 ▲ 1.42% SMTO3 16.16 ▼ 1.28% UGPA3 29.82 ▼ 3.59% VBBR3 32.93 ▲ 0.52% BBSE3 40.21 ▼ 0.17% BPAC11 57.74 ▲ 0.38% CURY3 32.78 ▼ 1.03% AERI3 2.08 — 0.00% VIVARA 23.30 ▲ 0.82% COMPASS 25.26 ▲ 1.98% VAMOS 3.04 ▲ 0.66% SANB11 27.26 ▼ 0.40% ASAI3 8.65 ▼ 0.69% SBSP3 30.31 ▼ 0.20% WALMEX 49.54 ▼ 0.22% GMEXICO 200.56 ▲ 2.54% FEMSA 233.24 ▲ 3.50% CEMEX 22.19 ▲ 1.88% GFNORTE 186.84 ▲ 2.62% BIMBO 56.71 ▲ 1.50% TELEVISA 9.53 ▼ 0.83% AMX 22.89 ▲ 1.33% GAP 389.99 ▼ 4.46% ASUR 277.85 ▼ 0.29% OMA 235.03 ▲ 0.73% KOF 181.58 ▼ 0.06% GRUMA 280.72 ▼ 0.23% KIMBER 38.41 ▲ 0.50% SQM-B 67,402 ▲ 0.28% COPEC 6,075 ▲ 0.29% BSANTANDER 78.50 ▲ 0.38% FALABELLA 5,903 ▼ 0.04% ENELAM 84.99 ▲ 0.94% CENCOSUD 2,044 ▲ 0.20% CMPC 1,076 ▼ 0.19% BANCO CHILE 188.01 ▲ 1.63% LATAM AIR 24.86 ▼ 0.16% YPF 77,075 ▼ 0.13% GGAL 7,975 ▼ 1.30% PAMPA 5,185 ▼ 0.77% TXAR 662.00 ▼ 0.38% ALUAR 950.00 ▼ 1.50% TGS 9,655 ▲ 0.89% CEPU 2,319 — 0.00% MIRGOR 16,725 ▼ 1.62% COME 45.30 ▲ 1.16% LOMA NEGRA 3,530 ▲ 0.93% BYMA 301.50 ▼ 2.19% TELECOM ARG 4,288 ▲ 0.88% ECOPETROL 16.02 ▲ 0.88% BANCOLOMBIA 81.53 ▲ 1.38% GRUPO AVAL 4.91 — 0.00% CREDICORP 389.80 ▲ 0.15% SOUTHERN COPPER 180.38 ▲ 3.35% BUENAVENTURA 30.84 ▲ 3.42% MERCADOLIBRE 1,854 ▼ 0.72% NUBANK 13.85 ▲ 1.33% XP 16.72 ▲ 2.11% PAGSEGURO 9.17 ▼ 1.24% STONE 11.13 ▼ 0.22% GLOBANT 31.48 ▼ 1.99% TECNOGLASS 43.71 ▲ 2.03% GAP AIRPORT 223.62 ▼ 3.93% ASUR 277.85 ▼ 0.29% OMA AIRPORT 107.55 ▲ 1.34% AMX ADR 26.20 ▲ 0.65% FEMSA ADR 133.87 ▲ 3.76% CEMEX ADR 12.70 ▲ 2.01% PETROBRAS ADR 17.87 ▼ 0.08% VALE ADR 14.58 ▲ 2.79% ITAU ADR 8.51 ▲ 0.41% SANTANDER BR 5.39 ▲ 0.65% AMBEV ADR 3.10 ▲ 1.14% CSN 1.02 ▼ 1.46% GERDAU 4.58 ▲ 1.89% LATAM ADR 53.58 ▲ 0.47% BTC 64,451 ▲ 3.55% ETH 1,869 ▲ 5.39% SOL 76.95 ▲ 2.79% XRP 1.10 ▲ 3.49% BNB 579.85 ▲ 2.33% ADA 0.16 ▲ 3.73% DOGE 0.07 ▲ 3.40% AVAX 6.65 ▲ 3.19% LINK 8.24 ▲ 4.63% DOT 0.85 ▲ 1.61% LTC 44.49 ▲ 2.30% BCH 237.06 ▲ 0.35% TRX 0.33 ▲ 0.35% XLM 0.18 ▲ 2.23% HBAR 0.07 ▼ 0.13% NEAR 2.03 ▲ 5.80% ATOM 1.56 ▲ 1.30% AAVE 98.82 ▲ 4.73% SELIC 14.25% EMBRAER 82.86 ▼ 0.18% EMBRAER ADR 65.28 ▲ 1.24% JBS 11.84 ▲ 0.30% JBS BDR 59.94 ▼ 1.11% MBRF3 16.10 ▲ 2.42% MBRFY 3.10 ▲ 1.64% INTER 5.64 ▼ 0.27% EGX 52,299 ▼ 0.59% USD/ZAR16.37▼ 0.62% USD/NGN1,381▲ 0.07% NIKKEI 67,744 ▲ 0.74% CSI300 4,797 ▲ 2.15% HSI 24,341 ▲ 0.52% NIFTY 24,052 ▼ 0.66% KOSPI 6,857 ▲ 0.73% JCI 6,040 ▲ 0.03% USD/JPY162.18▼ 0.16% USD/CNY6.76▼ 0.31% DAX 25,147 ▲ 0.13% CAC 8,367 ▲ 0.03% FTSE 10,529 ▲ 0.30% MIB 52,863 ▲ 0.10% IBEX 19,357 ▲ 0.11% STOXX 642.10 ▲ 0.17% EUR/USD1.14▲ 0.39% GBP/USD1.34▼ 0.03% SPX 7,549 ▲ 0.45% DJI 52,432 ▼ 0.13% NDX 29,661 ▲ 1.36% RUT 2,963 ▲ 0.35% TSX 35,303 ▲ 0.14% VIX 16.48 ▼ 3.96% USD/CAD1.41▼ 0.60% US10Y 4.5810 ▼ 0.61% IBOV 175,948 ▲ 0.12% IPSA 10,928 ▲ 0.16% IPC MEX 66,674 ▲ 1.06% MERVAL 3,226,478 ▼ 0.27% COLCAP 2,293.58 ▼ 0.61% BVL PERÚ 56,428.20 ▲ 1.55% USD/BRL 5.07 ▼ 1.22% USD/MXN 17.43 ▼ 0.56% USD/CLP 926.40 ▼ 0.70% USD/COP 3,247 ▼ 0.48% USD/PEN 3.39 ▼ 0.62% USD/ARS 1,470 ▼ 0.88% USD/UYU 40.23 ▲ 0.99% USD/PYG 6,039 ▲ 1.12% USD/BOB 10.35 ▲ 6.04% USD/DOP 58.25 ▲ 0.29% 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 ▼ 0.40% BRENT 84.46 ▲ 1.39% WTI 79.03 ▲ 1.14% IRON ORE 161.91 — — COPPER 6.37 ▲ 2.18% GOLD 4,068 ▲ 1.78% SILVER 59.13 ▲ 2.59% SOY 1,191 ▼ 0.94% CORN 460.75 ▲ 5.25% WHEAT 644.50 ▲ 2.79% COFFEE 327.00 ▼ 4.22% SUGAR 14.92 ▲ 1.15% ORANGE JUICE 140.90 ▼ 1.16% COTTON 81.68 ▲ 2.32% COCOA 5,936 ▲ 4.21% BEEF 231.58 ▼ 1.34% CATTLE 349.63 ▼ 1.33% LITHIUM 71.40 ▲ 1.65% PETR4 40.54 ▼ 0.30% VALE3 74.16 ▲ 1.80% ITUB4 43.28 ▼ 0.55% BBDC4 18.41 ▼ 1.92% ABEV3 15.83 — 0.00% BBAS3 20.45 ▲ 1.04% B3SA3 15.38 ▲ 1.72% WEGE3 44.44 ▲ 0.11% PRIO3 56.91 ▼ 0.51% SUZB3 41.37 ▼ 0.29% RENT3 40.29 ▲ 0.22% AZZA3 18.79 ▼ 2.24% CSAN3 3.86 ▼ 1.03% RAIZ4 0.31 ▼ 6.06% PCAR3 2.46 ▼ 5.02% GMAT3 3.96 ▲ 0.51% PSSA3 54.15 ▲ 0.20% CVCB3 1.35 ▲ 8.00% POSI3 3.94 ▼ 1.25% SLCE3 13.68 ▼ 1.37% NATU3 8.51 ▼ 1.05% BRKM5 6.66 ▼ 4.03% RANI3 8.03 ▲ 1.01% CSNA3 5.14 ▼ 1.91% CMIN3 5.10 ▼ 6.42% USIM5 8.26 ▼ 1.43% GGBR4 23.14 ▲ 1.40% ENEV3 26.77 ▼ 0.41% CPFE3 47.17 ▲ 0.70% CMIG4 11.12 ▲ 0.45% EQTL3 41.01 ▲ 1.99% LREN3 14.15 — 0.00% VIVT3 35.47 ▲ 2.13% RAIL3 14.10 ▼ 0.07% KLABIN 17.40 ▼ 0.46% RAIA DROGASIL 18.37 ▲ 0.93% RDOR3 35.89 ▲ 0.93% HAPV3 10.67 ▲ 2.01% FLRY3 16.38 ▲ 1.42% SMTO3 16.16 ▼ 1.28% UGPA3 29.82 ▼ 3.59% VBBR3 32.93 ▲ 0.52% BBSE3 40.21 ▼ 0.17% BPAC11 57.74 ▲ 0.38% CURY3 32.78 ▼ 1.03% AERI3 2.08 — 0.00% VIVARA 23.30 ▲ 0.82% COMPASS 25.26 ▲ 1.98% VAMOS 3.04 ▲ 0.66% SANB11 27.26 ▼ 0.40% ASAI3 8.65 ▼ 0.69% SBSP3 30.31 ▼ 0.20% WALMEX 49.54 ▼ 0.22% GMEXICO 200.56 ▲ 2.54% FEMSA 233.24 ▲ 3.50% CEMEX 22.19 ▲ 1.88% GFNORTE 186.84 ▲ 2.62% BIMBO 56.71 ▲ 1.50% TELEVISA 9.53 ▼ 0.83% AMX 22.89 ▲ 1.33% GAP 389.99 ▼ 4.46% ASUR 277.85 ▼ 0.29% OMA 235.03 ▲ 0.73% KOF 181.58 ▼ 0.06% GRUMA 280.72 ▼ 0.23% KIMBER 38.41 ▲ 0.50% SQM-B 67,402 ▲ 0.28% COPEC 6,075 ▲ 0.29% BSANTANDER 78.50 ▲ 0.38% FALABELLA 5,903 ▼ 0.04% ENELAM 84.99 ▲ 0.94% CENCOSUD 2,044 ▲ 0.20% CMPC 1,076 ▼ 0.19% BANCO CHILE 188.01 ▲ 1.63% LATAM AIR 24.86 ▼ 0.16% YPF 77,075 ▼ 0.13% GGAL 7,975 ▼ 1.30% PAMPA 5,185 ▼ 0.77% TXAR 662.00 ▼ 0.38% ALUAR 950.00 ▼ 1.50% TGS 9,655 ▲ 0.89% CEPU 2,319 — 0.00% MIRGOR 16,725 ▼ 1.62% COME 45.30 ▲ 1.16% LOMA NEGRA 3,530 ▲ 0.93% BYMA 301.50 ▼ 2.19% TELECOM ARG 4,288 ▲ 0.88% ECOPETROL 16.02 ▲ 0.88% BANCOLOMBIA 81.53 ▲ 1.38% GRUPO AVAL 4.91 — 0.00% CREDICORP 389.80 ▲ 0.15% SOUTHERN COPPER 180.38 ▲ 3.35% BUENAVENTURA 30.84 ▲ 3.42% MERCADOLIBRE 1,854 ▼ 0.72% NUBANK 13.85 ▲ 1.33% XP 16.72 ▲ 2.11% PAGSEGURO 9.17 ▼ 1.24% STONE 11.13 ▼ 0.22% GLOBANT 31.48 ▼ 1.99% TECNOGLASS 43.71 ▲ 2.03% GAP AIRPORT 223.62 ▼ 3.93% ASUR 277.85 ▼ 0.29% OMA AIRPORT 107.55 ▲ 1.34% AMX ADR 26.20 ▲ 0.65% FEMSA ADR 133.87 ▲ 3.76% CEMEX ADR 12.70 ▲ 2.01% PETROBRAS ADR 17.87 ▼ 0.08% VALE ADR 14.58 ▲ 2.79% ITAU ADR 8.51 ▲ 0.41% SANTANDER BR 5.39 ▲ 0.65% AMBEV ADR 3.10 ▲ 1.14% CSN 1.02 ▼ 1.46% GERDAU 4.58 ▲ 1.89% LATAM ADR 53.58 ▲ 0.47% BTC 64,451 ▲ 3.55% ETH 1,869 ▲ 5.39% SOL 76.95 ▲ 2.79% XRP 1.10 ▲ 3.49% BNB 579.85 ▲ 2.33% ADA 0.16 ▲ 3.73% DOGE 0.07 ▲ 3.40% AVAX 6.65 ▲ 3.19% LINK 8.24 ▲ 4.63% DOT 0.85 ▲ 1.61% LTC 44.49 ▲ 2.30% BCH 237.06 ▲ 0.35% TRX 0.33 ▲ 0.35% XLM 0.18 ▲ 2.23% HBAR 0.07 ▼ 0.13% NEAR 2.03 ▲ 5.80% ATOM 1.56 ▲ 1.30% AAVE 98.82 ▲ 4.73% SELIC 14.25% EMBRAER 82.86 ▼ 0.18% EMBRAER ADR 65.28 ▲ 1.24% JBS 11.84 ▲ 0.30% JBS BDR 59.94 ▼ 1.11% MBRF3 16.10 ▲ 2.42% MBRFY 3.10 ▲ 1.64% INTER 5.64 ▼ 0.27% EGX 52,299 ▼ 0.59% USD/ZAR 16.37 ▼ 0.52% USD/NGN 1,381 ▲ 0.20% NIKKEI 67,744 ▲ 0.74% CSI300 4,797 ▲ 2.15% HSI 24,341 ▲ 0.52% NIFTY 24,052 ▼ 0.66% KOSPI 6,857 ▲ 0.73% JCI 6,040 ▲ 0.03% USD/JPY 162.18 ▼ 0.15% USD/CNY 6.7595 ▼ 0.17% DAX 25,147 ▲ 0.13% CAC 8,367 ▲ 0.03% FTSE 10,529 ▲ 0.30% MIB 52,863 ▲ 0.10% IBEX 19,357 ▲ 0.11% STOXX 642.10 ▲ 0.17% EUR/USD 1.1427 ▲ 0.35% GBP/USD 1.3377 ▲ 0.21% SPX 7,549 ▲ 0.45% DJI 52,432 ▼ 0.13% NDX 29,661 ▲ 1.36% RUT 2,963 ▲ 0.35% TSX 35,303 ▲ 0.14% VIX 16.48 ▼ 3.96% USD/CAD 1.4069 ▼ 0.59% US10Y 4.5810 ▼ 0.61%
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Tuesday, July 14, 2026

The Curmudgeon on “It Can’t Happen Here”

By · January 1, 2013 · 3 min read

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Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL – The year 2012 saw the “Mensalão” scandal be resolved, more or less finally, by a courageous Brazilian Supreme Court (STF) which, by differing majorities, found any number of Brazilian politicians, government bureaucrats and their civilian cronies guilty of any number of crimes and misdemeanors.

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No one, not even the Curmudgeon, could foresee the STF, eight of whose eleven Justices were appointed by Presidents Lula and Dilma, actually imposing criminal sentences upon defendants who were connected to PT, their party. It can’t happen here … but it did!

President Dilma, to her lasting credit, has subsequently refused to utter a single solitary word about the Mensalão scandal. She became Lula’s Chief of Staff after all the mechanics of the scheme were put in motion, and most likely she was ignorant of the moneyed machinations manipulating Congressional alliances.

Former President Lula, to his lasting shame, has loudly and repeatedly recanted his 2005 statement that he was “betrayed” by the Mensalão schemers, and has now staked out his position that there was never any such thing as the “Mensalão”!

According to him and to PT, the party he brought to power in 2002, it’s all an invention of the troglodyte owners and editors of newspapers and magazines who dare to denounce and decry his liberal/progressive programs which rescued Brazil from being only the 10th largest economy in the world to the 7th and, in the bargain, dragged between 30 and 50 million people into the real economy, and indeed into the middle class.

In other words, not only couldn’t it happen here, “it didn’t happen here”.

This is precisely the PT party line. According to PT, their progressive protégés whose nicknames are “Zé” (Dirceu and Genoino) never could and never would have engaged in anything so slimy as paying politicians to vote for their programs, while allocating ministries (and their billions in revenue) to those parties. Unfortunately, the STF decided that it DID happen here, and those who made it happen should go to jail.

The Curmudgeon, long fascinated by constitutions, has heard the proposal that the Brazilian Constitution should have only two Articles: Article the First: “Everyone should have a sense of shame.” Article the Second: “All provisions contrary to Article the First are hereby revoked.” Were this the full text of the Brazilian Federal Constitution, “It can’t happen here” and “It didn’t happen here” would be banned.

One of the Curmudgeon’s gurus is Zardoz who, having seen the future, knows it doesn’t work. Zardoz projects that in 2014 Lula will jettison Dilma, run for President, and will win. PT rampant, he will pardon Zé and Zé and their cohorts, and declare that, by electing him once again, the STF has been shown wrong. The populace, having refused to learn from the past, will repeat it. That’s a depressing scenario, but it won’t happen till 2014.

So, for 2013, the Curmudgeon wishes all well-wishers well, and all ill-wishers ill, and hopes that it can’t (won’t?) happen here.

————
Michael Royster, aka THE CURMUDGEON first saw Rio forty-plus years ago, fetched up on these shores exactly 35 years ago, still loves it, notwithstanding being a charter member of the most persecuted minority in (North) America today, the WASPs (google it!)(get over it!)

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