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Brazil, 1993. President Collor is impeached. Monthly inflation reaches 40%. The nation is collapsing. In the economic hurricanes eye, Fernando Henrique Cardoso convenes a group of brilliant economists to design an emergency plan to overcome the hyperinflation crisis.Written by
It was a plan that simply had to work. The president had been impeached for malpractice (he'd actually confiscated everybody's savings, leading many honest people to suicide when they were unable to honour their financial commitments; it was later discovered he'd tipped off his friends, who made a killing as the only ones in the country with spare cash) and inflation was spinning out of control. The country had seen a succession of failed economic plans since the beginning of the 80s and the population wasn't in a mood to be taken in anymore, since the plans only seemed to serve specific interests, not the country as a whole.
This is the story of how the Real Plan came about and brought financial stability to a country that was in desperate need of it, since Brazilians couldn't even plan for the short term, much less the medium and long terms one needs to build a successful future. As a result, despite being buffeted by a series of international crises, in Asia, Russia, Mexico and Argentina (which led investors to withdraw funds to cover losses elsewhere), Brazil enjoyed a period of prosperity that paved the way for the economic boom of the new millennium and the country seemed to be moving from 3rd world to 2nd world and heading for 1st world status, as a rising force in the international scenario.
Unfortunately, the PT took power in the new millennium and set to ransacking the public sector, while taking corruption to unprecedented levels, as they sought to consolidate that usual communist goal of power in perpetuity. But to understand that you'll have to watch the even better film "Polícia Federal: A Lei É Para Todos".
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