Macro apertada e micro cagada dá em quê?

In a recession, boys. Mark my words.

Now, of course there is legitimate uncertainty as to whether these fellas are really going to tighten...

But let us assume they will, please.

After so much fuss yesterday, today I read with amazement that the Treasury is pouring more 20 bi into BNDES. This of course undermines any Central Bank´s effort to curb inflation. But, more importantly, it suggests Dilma has not understood where low growth is coming from, namely, the micro side of the New Fucking Matrix (henceforth, NFM).

Important question: by the time they realize growth rates are not responding to their "orthodox initiaves", what signal will they extract? Probably that the Central Bank should not have tightened !

Important question number 2: what will the electorate infer? Hopefully, that these guys dont know what they are doing.

Important question number 3: will this mean the end of the NFM? Or can it make a come back in 2030????

Jesus, I am out of here.