Credit cards companies are worried about debt in Brazil

…so they stuck rates up to 450%


This is a hangover from the policies of the prior admin in Brazil allowing far more than usury. The higher rates beget higher rates as people bankrupt.

Lula is going to do a lot about this. He has to.

High inflation in Brazil has been going on for decades. The current “black market” rate for US $ is broadcast daily. I remember seeing 3 and 4 digit interest rates for deposits. All were indexed to inflation.

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High inflation by our standards yes but in the aughts and up until now no.


Nothing to substantiate 400% credit card rates.

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