IBOV 175,739 ▼ 1.20% IPSA 10,928 ▼ 1.17% IPC MEX 65,973 ▼ 0.79% MERVAL 3,235,295 ▼ 1.37% COLCAP 2,307.67 — UNCH BVL PERÚ 56,917.82 ▼ 0.86% USD/BRL5.13▲ 0.42% USD/MXN17.52▲ 0.28% USD/CLP932.70▲ 0.85% USD/COP3,236▼ 0.31% USD/PEN3.41▲ 0.52% USD/ARS1,482▼ 0.37% USD/UYU 40.22 — 0.00% USD/PYG6,045▼ 0.17% USD/BOB10.35▲ 2.07% USD/DOP58.37▼ 0.19% USD/CRC448.53▼ 0.06% USD/GTQ7.62▼ 0.10% USD/HNL26.73▲ 0.04% USD/NIO 36.62 — 0.00% USD/VES719.54▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.69▼ 0.25% USD/TTD6.74▼ 0.12% EUR/BRL5.87▲ 0.80% BRENT 84.50 ▲ 11.17% WTI 79.32 ▲ 11.08% IRON ORE 161.91 — — COPPER 6.28 ▲ 0.68% GOLD 4,002 ▼ 2.48% SILVER 57.65 ▼ 3.62% SOY 1,190 ▼ 0.56% CORN 459.50 ▲ 4.91% WHEAT 633.75 ▲ 0.28% COFFEE 330.50 ▼ 3.64% SUGAR 14.76 ▼ 0.81% ORANGE JUICE 137.15 ▼ 7.24% COTTON 81.49 ▲ 1.96% COCOA 5,808 ▼ 1.88% BEEF 234.95 ▼ 0.11% CATTLE 354.20 ▼ 0.11% LITHIUM 70.24 ▼ 2.88% PETR4 40.66 ▲ 2.55% VALE3 72.85 ▼ 1.79% ITUB4 43.52 ▼ 1.76% BBDC4 18.77 ▼ 0.48% ABEV3 15.83 ▲ 0.06% BBAS3 20.24 ▼ 1.65% B3SA3 15.12 ▼ 1.95% WEGE3 44.39 ▼ 4.56% PRIO3 57.20 ▲ 3.16% SUZB3 41.49 ▼ 0.14% RENT3 40.20 ▼ 2.19% AZZA3 19.22 ▲ 0.63% CSAN3 3.90 ▼ 4.18% RAIZ4 0.33 ▼ 5.71% PCAR3 2.59 ▼ 5.13% GMAT3 3.94 ▼ 0.76% PSSA3 54.04 ▼ 1.69% POSI3 3.99 ▲ 0.50% SLCE3 13.87 ▼ 1.07% NATU3 8.60 ▼ 0.92% BRKM5 6.94 ▲ 4.68% RANI3 7.95 ▼ 0.75% CSNA3 5.24 ▲ 1.16% CMIN3 5.45 ▲ 4.21% USIM5 8.38 ▼ 0.83% GGBR4 22.82 ▼ 0.83% ENEV3 26.88 ▼ 2.43% CPFE3 46.84 ▼ 2.15% CMIG4 11.07 ▼ 2.72% EQTL3 40.21 ▼ 1.71% LREN3 14.15 ▼ 3.21% VIVT3 34.73 ▼ 2.85% RAIL3 14.11 ▼ 1.74% KLABIN 17.48 ▼ 0.34% RAIA DROGASIL 18.20 ▼ 3.04% RDOR3 35.56 ▼ 1.28% HAPV3 10.46 ▼ 1.32% FLRY3 16.15 ▼ 1.64% SMTO3 16.37 — 0.00% UGPA3 30.93 ▲ 0.72% VBBR3 32.76 ▼ 0.73% BBSE3 40.28 ▼ 0.17% BPAC11 57.52 ▼ 2.06% CURY3 33.12 ▼ 3.19% AERI3 2.08 ▼ 0.48% VIVARA 23.11 ▼ 1.79% COMPASS 24.77 ▼ 2.86% VAMOS 3.02 ▼ 1.31% SANB11 27.37 ▼ 0.91% ASAI3 8.71 ▼ 1.80% SBSP3 30.37 ▼ 2.38% WALMEX 49.66 ▲ 0.69% GMEXICO 195.76 ▼ 1.74% FEMSA 225.36 ▲ 0.92% CEMEX 21.79 ▼ 0.32% GFNORTE 181.91 ▼ 2.51% BIMBO 55.97 ▼ 0.23% TELEVISA 9.58 ▼ 1.54% AMX 22.86 ▲ 0.70% GAP 407.66 ▼ 1.17% ASUR 278.66 ▼ 2.27% OMA 232.47 ▼ 1.70% KOF 181.26 ▲ 0.62% GRUMA 281.37 ▼ 0.57% KIMBER 38.22 ▲ 0.24% SQM-B 67,211 ▼ 0.80% COPEC 6,057 ▼ 1.33% BSANTANDER 78.20 ▼ 1.01% FALABELLA 5,905 — 0.00% ENELAM 84.20 ▼ 1.41% CENCOSUD 2,040 ▼ 0.25% CMPC 1,078 ▼ 2.80% BANCO CHILE 185.00 ▼ 2.05% LATAM AIR 24.90 ▼ 5.18% YPF 77,175 ▲ 3.73% GGAL 8,080 ▼ 3.06% PAMPA 5,225 ▲ 0.87% TXAR 664.50 ▼ 0.97% ALUAR 964.50 ▼ 1.13% TGS 9,580 ▼ 0.16% CEPU 2,319 ▼ 3.21% MIRGOR 17,000 ▼ 1.45% COME 44.78 ▼ 2.46% LOMA NEGRA 3,500 ▼ 2.30% BYMA 308.25 ▼ 1.83% BANCOLOMBIA 80.42 ▼ 3.05% GRUPO AVAL 4.91 ▼ 3.16% CREDICORP 389.22 ▼ 2.89% SOUTHERN COPPER 174.53 ▼ 0.74% BUENAVENTURA 29.82 ▼ 0.60% MERCADOLIBRE 1,867 ▲ 0.81% NUBANK 13.67 ▼ 0.65% XP 16.37 ▼ 3.25% STONE 11.15 ▼ 0.54% GLOBANT 32.12 ▲ 7.21% TECNOGLASS 42.84 ▼ 2.41% GAP AIRPORT 232.77 ▼ 1.22% ASUR 278.66 ▼ 2.27% OMA AIRPORT 106.13 ▼ 1.77% FEMSA ADR 129.01 ▲ 1.06% CEMEX ADR 12.45 ▼ 0.24% PETROBRAS ADR 17.88 ▲ 3.23% VALE ADR 14.18 ▼ 1.94% ITAU ADR 8.47 ▼ 1.74% SANTANDER BR 5.34 ▼ 1.02% AMBEV ADR 3.06 ▼ 0.33% CSN 1.03 ▲ 1.49% GERDAU 4.49 ▼ 0.22% LATAM ADR 53.33 ▼ 5.53% BTC 62,333 ▼ 2.23% ETH 1,777 ▼ 1.58% SOL 75.11 ▼ 2.29% BNB 567.48 ▼ 1.13% ADA 0.16 ▼ 2.57% AVAX 6.47 ▲ 1.06% LINK 7.90 ▼ 1.14% DOT 0.84 ▼ 0.62% LTC 43.65 ▼ 0.73% BCH 236.80 ▼ 1.32% TRX 0.32 ▼ 2.30% XLM 0.18 ▼ 3.00% NEAR 1.93 ▲ 2.24% ATOM 1.54 ▼ 1.47% AAVE 94.84 ▼ 2.29% SELIC 14.25% CVCB3 1.25 — 0.00% EMBRAER 83.01 ▼ 1.88% EMBRAER ADR 64.48 ▼ 2.32% JBS 11.80 ▼ 0.92% JBS BDR 60.61 ▼ 0.28% MBRF3 15.72 ▲ 1.09% MBRFY 3.03 ▲ 0.33% PAGSEGURO 9.28 ▲ 0.32% INTER 5.65 ▼ 2.92% TELECOM ARG 4,250 ▲ 0.12% ECOPETROL 15.88 ▲ 1.93% AMX ADR 26.02 ▲ 0.04% XRP 1.07 ▼ 1.81% DOGE 0.07 ▼ 0.83% HBAR 0.07 ▼ 1.71% EGX 52,608 ▲ 0.67% USD/ZAR16.49▲ 1.01% USD/NGN 1,378 — 0.00% NIKKEI 67,109 ▼ 0.20% CSI300 4,695 ▼ 1.79% HSI 24,214 ▲ 0.16% NIFTY 24,211 ▲ 0.02% KOSPI 6,630 ▼ 2.60% JCI 6,038 ▲ 1.92% USD/JPY 162.43 — 0.00% USD/CNY 6.7709 — 0.00% DAX 25,114 ▲ 0.19% CAC 8,365 ▲ 0.31% FTSE 10,498 ▲ 0.01% MIB 52,809 ▲ 0.37% IBEX 19,336 ▼ 0.25% STOXX 641.01 ▼ 0.01% EUR/USD1.14▼ 0.16% GBP/USD1.33▼ 0.32% SPX 7,515 ▼ 0.79% DJI 52,499 ▼ 0.26% NDX 29,264 ▼ 1.88% RUT 2,953 ▼ 0.83% TSX 35,253 ▼ 0.15% VIX 17.16 ▲ 14.17% USD/CAD 1.4153 — 0.00% US10Y 4.6090 ▲ 0.88% IBOV 175,739 ▼ 1.20% IPSA 10,928 ▼ 1.17% IPC MEX 65,973 ▼ 0.79% MERVAL 3,235,295 ▼ 1.37% COLCAP 2,307.67 — UNCH BVL PERÚ 56,917.82 ▼ 0.86% USD/BRL 5.14 ▲ 0.57% USD/MXN 17.52 ▲ 0.28% USD/CLP 932.70 ▲ 0.85% USD/COP 3,236 ▼ 0.31% USD/PEN 3.41 ▲ 0.52% USD/ARS 1,482 ▼ 0.37% USD/UYU 40.22 — 0.00% USD/PYG 6,045 ▼ 0.17% USD/BOB 10.35 ▲ 2.07% USD/DOP 58.37 ▼ 0.19% USD/CRC 448.53 ▼ 0.06% USD/GTQ 7.62 ▼ 0.10% USD/HNL 26.73 ▲ 0.04% USD/NIO 36.62 — 0.00% USD/VES 719.54 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.69 ▲ 0.15% USD/TTD 6.74 ▲ 1.31% EUR/BRL 5.87 ▲ 0.80% BRENT 84.50 ▲ 11.17% WTI 79.32 ▲ 11.08% IRON ORE 161.91 — — COPPER 6.28 ▲ 0.68% GOLD 4,002 ▼ 2.48% SILVER 57.65 ▼ 3.62% SOY 1,190 ▼ 0.56% CORN 459.50 ▲ 4.91% WHEAT 633.75 ▲ 0.28% COFFEE 330.50 ▼ 3.64% SUGAR 14.76 ▼ 0.81% ORANGE JUICE 137.15 ▼ 7.24% COTTON 81.49 ▲ 1.96% COCOA 5,808 ▼ 1.88% BEEF 234.95 ▼ 0.11% CATTLE 354.20 ▼ 0.11% LITHIUM 70.24 ▼ 2.88% PETR4 40.66 ▲ 2.55% VALE3 72.85 ▼ 1.79% ITUB4 43.52 ▼ 1.76% BBDC4 18.77 ▼ 0.48% ABEV3 15.83 ▲ 0.06% BBAS3 20.24 ▼ 1.65% B3SA3 15.12 ▼ 1.95% WEGE3 44.39 ▼ 4.56% PRIO3 57.20 ▲ 3.16% SUZB3 41.49 ▼ 0.14% RENT3 40.20 ▼ 2.19% AZZA3 19.22 ▲ 0.63% CSAN3 3.90 ▼ 4.18% RAIZ4 0.33 ▼ 5.71% PCAR3 2.59 ▼ 5.13% GMAT3 3.94 ▼ 0.76% PSSA3 54.04 ▼ 1.69% POSI3 3.99 ▲ 0.50% SLCE3 13.87 ▼ 1.07% NATU3 8.60 ▼ 0.92% BRKM5 6.94 ▲ 4.68% RANI3 7.95 ▼ 0.75% CSNA3 5.24 ▲ 1.16% CMIN3 5.45 ▲ 4.21% USIM5 8.38 ▼ 0.83% GGBR4 22.82 ▼ 0.83% ENEV3 26.88 ▼ 2.43% CPFE3 46.84 ▼ 2.15% CMIG4 11.07 ▼ 2.72% EQTL3 40.21 ▼ 1.71% LREN3 14.15 ▼ 3.21% VIVT3 34.73 ▼ 2.85% RAIL3 14.11 ▼ 1.74% KLABIN 17.48 ▼ 0.34% RAIA DROGASIL 18.20 ▼ 3.04% RDOR3 35.56 ▼ 1.28% HAPV3 10.46 ▼ 1.32% FLRY3 16.15 ▼ 1.64% SMTO3 16.37 — 0.00% UGPA3 30.93 ▲ 0.72% VBBR3 32.76 ▼ 0.73% BBSE3 40.28 ▼ 0.17% BPAC11 57.52 ▼ 2.06% CURY3 33.12 ▼ 3.19% AERI3 2.08 ▼ 0.48% VIVARA 23.11 ▼ 1.79% COMPASS 24.77 ▼ 2.86% VAMOS 3.02 ▼ 1.31% SANB11 27.37 ▼ 0.91% ASAI3 8.71 ▼ 1.80% SBSP3 30.37 ▼ 2.38% WALMEX 49.66 ▲ 0.69% GMEXICO 195.76 ▼ 1.74% FEMSA 225.36 ▲ 0.92% CEMEX 21.79 ▼ 0.32% GFNORTE 181.91 ▼ 2.51% BIMBO 55.97 ▼ 0.23% TELEVISA 9.58 ▼ 1.54% AMX 22.86 ▲ 0.70% GAP 407.66 ▼ 1.17% ASUR 278.66 ▼ 2.27% OMA 232.47 ▼ 1.70% KOF 181.26 ▲ 0.62% GRUMA 281.37 ▼ 0.57% KIMBER 38.22 ▲ 0.24% SQM-B 67,211 ▼ 0.80% COPEC 6,057 ▼ 1.33% BSANTANDER 78.20 ▼ 1.01% FALABELLA 5,905 — 0.00% ENELAM 84.20 ▼ 1.41% CENCOSUD 2,040 ▼ 0.25% CMPC 1,078 ▼ 2.80% BANCO CHILE 185.00 ▼ 2.05% LATAM AIR 24.90 ▼ 5.18% YPF 77,175 ▲ 3.73% GGAL 8,080 ▼ 3.06% PAMPA 5,225 ▲ 0.87% TXAR 664.50 ▼ 0.97% ALUAR 964.50 ▼ 1.13% TGS 9,580 ▼ 0.16% CEPU 2,319 ▼ 3.21% MIRGOR 17,000 ▼ 1.45% COME 44.78 ▼ 2.46% LOMA NEGRA 3,500 ▼ 2.30% BYMA 308.25 ▼ 1.83% BANCOLOMBIA 80.42 ▼ 3.05% GRUPO AVAL 4.91 ▼ 3.16% CREDICORP 389.22 ▼ 2.89% SOUTHERN COPPER 174.53 ▼ 0.74% BUENAVENTURA 29.82 ▼ 0.60% MERCADOLIBRE 1,867 ▲ 0.81% NUBANK 13.67 ▼ 0.65% XP 16.37 ▼ 3.25% STONE 11.15 ▼ 0.54% GLOBANT 32.12 ▲ 7.21% TECNOGLASS 42.84 ▼ 2.41% GAP AIRPORT 232.77 ▼ 1.22% ASUR 278.66 ▼ 2.27% OMA AIRPORT 106.13 ▼ 1.77% FEMSA ADR 129.01 ▲ 1.06% CEMEX ADR 12.45 ▼ 0.24% PETROBRAS ADR 17.88 ▲ 3.23% VALE ADR 14.18 ▼ 1.94% ITAU ADR 8.47 ▼ 1.74% SANTANDER BR 5.34 ▼ 1.02% AMBEV ADR 3.06 ▼ 0.33% CSN 1.03 ▲ 1.49% GERDAU 4.49 ▼ 0.22% LATAM ADR 53.33 ▼ 5.53% BTC 62,333 ▼ 2.23% ETH 1,777 ▼ 1.58% SOL 75.11 ▼ 2.29% BNB 567.48 ▼ 1.13% ADA 0.16 ▼ 2.57% AVAX 6.47 ▲ 1.06% LINK 7.90 ▼ 1.14% DOT 0.84 ▼ 0.62% LTC 43.65 ▼ 0.73% BCH 236.80 ▼ 1.32% TRX 0.32 ▼ 2.30% XLM 0.18 ▼ 3.00% NEAR 1.93 ▲ 2.24% ATOM 1.54 ▼ 1.47% AAVE 94.84 ▼ 2.29% SELIC 14.25% CVCB3 1.25 — 0.00% EMBRAER 83.01 ▼ 1.88% EMBRAER ADR 64.48 ▼ 2.32% JBS 11.80 ▼ 0.92% JBS BDR 60.61 ▼ 0.28% MBRF3 15.72 ▲ 1.09% MBRFY 3.03 ▲ 0.33% PAGSEGURO 9.28 ▲ 0.32% INTER 5.65 ▼ 2.92% TELECOM ARG 4,250 ▲ 0.12% ECOPETROL 15.88 ▲ 1.93% AMX ADR 26.02 ▲ 0.04% XRP 1.07 ▼ 1.81% DOGE 0.07 ▼ 0.83% HBAR 0.07 ▼ 1.71% EGX 52,608 ▲ 0.67% USD/ZAR 16.49 ▲ 0.18% USD/NGN 1,378 — 0.00% NIKKEI 67,109 ▼ 0.20% CSI300 4,695 ▼ 1.79% HSI 24,214 ▲ 0.16% NIFTY 24,211 ▲ 0.02% KOSPI 6,630 ▼ 2.60% JCI 6,038 ▲ 1.92% USD/JPY 162.43 — 0.00% USD/CNY 6.7709 — 0.00% DAX 25,114 ▲ 0.19% CAC 8,365 ▲ 0.31% FTSE 10,498 ▲ 0.01% MIB 52,809 ▲ 0.37% IBEX 19,336 ▼ 0.25% STOXX 641.01 ▼ 0.01% EUR/USD 1.1383 ▼ 0.04% GBP/USD 1.3345 ▼ 0.03% SPX 7,515 ▼ 0.79% DJI 52,499 ▼ 0.26% NDX 29,264 ▼ 1.88% RUT 2,953 ▼ 0.83% TSX 35,253 ▼ 0.15% VIX 17.16 ▲ 14.17% USD/CAD 1.4153 — 0.00% US10Y 4.6090 ▲ 0.88%
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Op-Ed Guest Opinions

Gringo View: The wages of cynicism

By · May 5, 2021 · 5 min read

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RIO DE JANEIRO, BRAZIL – (Opinion) Cynicism has been around for a very long time. In 390 BC, it had almost the reverse meaning it has today. The philosopher Diogenes, seen as the father of the Cynics, believed that “wealth and power are seen not only as without intrinsic value but as positive evils in that they take from you your own inner freedom. The radical implication is that we can be not only as happy as kings, but we can also be happier by virtue of our self-sufficiency.”

Diogenes. (Photo internet reproduction)
Diogenes. (Photo internet reproduction)
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It seems today as if inherent dishonesty and self-serving actions have proliferated over the past few years to such an extent that it’s hard to know what to believe, or if anyone or anything has a pure motive any more.

Take for example our Brazilian president’s praise-worthy participation in U.S. President Joe Biden’s virtual climate summit earlier in the month. He pledged to double the budget for environmental enforcement and end illegal deforestation by 2030. To the applause of the world’s leaders gathered in front of their screens to confront the increasing dangers of climate change, this appeared to represent a major and welcome change in heart for Bolsonaro.

Based on his previous rhetoric, however, skeptics wondered if he would really do it. We were right to wonder.

Less than 24 hours after this grandstand performance, Bolsonaro cynically signed off on the 2021 federal budget that included a 24% cut in funding to the Environment Ministry and related agencies from the previous year.

According to Reuters, Bolsonaro’s reasoning for the budget cuts and the reduced number of environmental fines handed out to ranchers – big supporters of the president – was to bring “peace and tranquility” to the countryside.

If cynicism can be described as a disbelief in the sincerity or goodness of human motives and actions, Bolsonaro could be its Brazilian poster boy.

Exceeded in the number of Covid 19 deaths only by the US (and more recently, India), much can be blamed on Bolsonaro’s widely quoted assessment of the pandemic’s dangers: “Enough fussing and whining. How much longer will the crying go on? How much longer will you stay at home and close everything? No one can stand it anymore. We regret the deaths, again, but we need a solution.”

‘Regretting’ these deaths has something of a hollow sound when the needed ‘solution’ is no closer today than it was when these sentiments were voiced, even if the pace of vaccinations has improved and a fourth Health Minister (this one a doctor, not another military officer) has been appointed.

It is hardly surprising that Bolsonaro’s Covid-19 utterances often sound like US ex-president Trump’s famous statement that “a miracle might make the coronavirus pandemic disappear” or his encouragement to keep businesses open, no matter what. Trump knew the pandemic was much more serious than he was saying, as he acknowledged in a March interview with journalist Bob Woodward: “I still like playing it down because I don’t want to create a panic.”

To suggest that a desire to take the nation’s mind off the growing pandemic and enhance the economy and the stock market, in order to help his re-election prospects, does sound downright cynical. Even worse is the continuation of what is now called ‘The Big Lie’, the totally unfounded claim, shared by as many as 70% of Republicans, that the 2020 U.S. presidential election was stolen from them.

How little resonance Diogenes’ brand of cynicism has today when wealth and power appear to be the prime motivators for all political activity! Cynicism has been catapulted from a marginal mindset to a full-fledged religion, while self-sufficiency has been largely replaced by local same-day home delivery of almost everything. It should be no surprise that a popular biography of the US Senate minority leader is entitled “The Cynic: The Political Education of Mitch McConnell”.

Once upon a time, we used to turn on our radios to hear thoughtful, objective presentations of world news by commentators like Edward R Murrow and Walter Cronkite, whose independence and honesty were above question. We might not always agree with their conclusions, but they were never cynical, and they called out those who were.

No longer.

Today, the financial bottom line has come to replace veracity as the litmus of broadcast journalism. Fox News, the offspring of Australia-born Rupert Murdoch’s worldwide media empire, unquestionably deserves the ‘Oscar’ for what New York Times editor Bill Keller says “has made American discourse more “cynical,” “polarized” and “strident”.

“I think the effect of Fox News on American public life has been to create a level of cynicism about the news in general. It has contributed to the sense that they are all just out there with a political agenda, but Fox is just more overt about it.”

Today’s media hero, with a reported daily evening audience of three million, is Tucker Carlson, an arrogant, self-important performer (sometimes passing himself off falsely as a ‘journalist’) whose prime desire appears to be super click-bait, He is good at it, getting his name and Fox News talked about endlessly in other media, despite (or perhaps because of) the subjects or the idiocies of his opinions.

His latest overt uproar-causing thrust is to proclaim “forcing children to wear masks outside should be illegal… Call the police immediately, contact child protective services… What you’re looking at is abuse, it’s child abuse and you are morally obligated to attempt to prevent it.” Mask wearers, according to Carlson, are liberal “zealots” and “neurotics.” Despite some public disgust and push back, the power of his audience numbers and the cynicism of his media bosses protect him from being fired.

Perhaps it is time for us to harken back to Diogenes’ labeling of wealth and power as positive evils, and tell the Jair Bolsonaros and Tucker Carlsons of this world that we have had enough of their cynicism, and seek to rediscover the self-sufficient joys of looking at things as they really are.

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