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2012-05-04 — blogspot.com
Hello from Brazil. Much of what we both expected has begun to occur in Brazil since we exchanged emails last year. The economy has slowed down greatly. We are on the brink of a recession here, if not in recession already.
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The Bovespa stock index declined as Itau Unibanco SA (ITUB) led Brazilian banks lower after it said it expects losses from bad loans to rise in the second quarter.
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