TheEconomist

Operators are the same all over - it changes only the email, I suppose.

Since Wall Street is quiet because there´s the beggining of Fall holiday for the re-opening of schools in America, early morning news have a lot of people telling the Fed (and national central banks like Brazil´s ) to do this or that.

Are they economists? Most of them, but they are is market operators when expressing such a thing distorted by what are market wishes nowadays.

It´s like soccer in Brazil: there´s a bunch a 190 millions sport technicians on that matter when it ccomes to World Cup.

It includes companheiro Lula, the president who came from the people -  tru  Workers Party  (Partido dos Trabalhadores-PT) born in old automobile plants in Sao Paulo in early 80s, just after the returning of exiled activists allowed by the military (since they had defeated the guerrilla movement in the 70s and was movimg to pass  powerover  to civilians before economic crisis exploded as it did in middle 80s ultil 1994, when the Real plan ended a 30 year period of hight inflation and its use by ruling class as a virtual way to take advantage from people who ain´t nothing but his/her own work tosell in the blogalized markets.

In Japan  US dollar gained position compared to the iene; dollar rates are expected to have one or two meangful reavaluantion from now up to the end of year.

From this point of view, many economists working for the market expressed their wishful thinking that there will be at least one small basic interested rate movement - something like a 0,25% cut next meeting on next  8th.

More: they´ll bet there will be a second chance by the end of year -the end os 2007.

Also for Brazil, operators express this same wishful thinking when they say that Brazilian  central bank (BC) would follow the Fed would-be decision…

Yeah, we all want lower  interest rates all over.

Corporate economists said they´d bet  Brazil´s Central Bank decision next Monetary Political Committe´s meeting day after tomorrow will follow the americans fellows: they keep on saying Selic rates is to be cutted by 0,25% at least, to give a positive sinalization to the markets.

We´d rather tell friends today they should pay atention on inflation and economic activities figures this week, before telling monetary authorities what to do in times of global credit crisis.

Let it be…we never get what we want but hope we´ll get what we need, like former minister Pedro Malan used to teach us when we the Real staff was to face foreing crisis outside our control, like this one now. 

Anyway, Brazil is much better today - we´ve got US$ 160 bi in foreing reserves - nothing bad for a trillion US dollar total GDP.

What do you think?