IBOV 178,370.29 ▲ 0.21% IPSA 11,020.25 ▼ 0.27% IPC MEX 66,700.17 ▼ 0.35% MERVAL 3,201,973 ▼ 2.21% COLCAP 2,358.64 ▼ 1.09% BVL PERÚ 57,475.88 — — USD/BRL5.13▲ 0.91% USD/MXN17.26▼ 0.48% USD/CLP910.97▼ 1.57% USD/COP3,194▲ 1.93% USD/PEN3.39▼ 0.09% USD/ARS1,496▲ 0.12% USD/UYU40.19▲ 1.51% USD/PYG5,932▲ 1.71% USD/BOB12.03▲ 3.12% USD/DOP58.31▲ 2.03% USD/CRC446.90▲ 1.41% USD/GTQ7.62▲ 2.50% USD/HNL26.78▲ 1.90% USD/NIO36.62▲ 1.01% USD/VES750.21▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD156.98▲ 0.45% USD/TTD6.71▲ 1.12% EUR/BRL5.92▲ 1.16% BRENT 79.41 ▼ 5.20% WTI 75.79 ▼ 5.66% IRON ORE 161.91 — — COPPER 6.63 ▲ 1.85% GOLD 4,137 ▲ 2.56% SILVER 59.90 ▲ 3.86% SOY 1,177 ▲ 0.73% CORN 465.25 ▲ 3.56% WHEAT 638.00 ▼ 2.00% COFFEE 307.70 ▼ 3.69% SUGAR 15.06 ▲ 0.33% ORANGE JUICE 157.35 ▼ 0.63% COTTON 81.44 ▲ 0.11% COCOA 6,089 ▲ 2.53% BEEF 227.85 ▼ 1.41% CATTLE 345.95 ▼ 0.54% LITHIUM 71.81 ▲ 3.46% PETR4 42.55 ▼ 1.16% VALE3 76.33 ▲ 2.26% ITUB4 42.21 ▼ 2.22% BBDC4 18.21 ▼ 1.73% ABEV3 15.91 ▲ 0.89% BBAS3 21.03 ▼ 1.13% B3SA3 15.66 ▲ 0.26% WEGE3 48.89 ▲ 1.43% PRIO3 58.07 ▼ 0.74% SUZB3 42.76 ▼ 0.79% RENT3 38.90 ▲ 2.10% AZZA3 15.99 ▼ 1.48% CSAN3 3.98 ▼ 2.93% RAIZ4 0.28 ▲ 7.69% PCAR3 2.77 ▲ 0.73% GMAT3 3.96 ▼ 0.25% PSSA3 54.34 ▲ 0.63% CVCB3 1.40 ▼ 2.78% POSI3 3.49 ▼ 0.57% SLCE3 13.46 ▲ 0.82% NATU3 8.46 ▼ 0.47% BRKM5 5.88 ▼ 1.34% RANI3 8.34 ▼ 0.95% CSNA3 4.69 ▲ 3.99% CMIN3 5.70 ▼ 0.52% USIM5 7.47 ▼ 1.19% GGBR4 25.88 ▲ 0.98% ENEV3 26.86 ▲ 0.41% CPFE3 46.41 ▲ 0.65% CMIG4 11.22 ▼ 0.53% EQTL3 38.89 — 0.00% LREN3 13.67 ▼ 1.30% VIVT3 31.66 ▼ 1.98% RAIL3 14.08 ▼ 0.57% KLABIN 18.14 ▼ 0.55% RAIA DROGASIL 19.43 ▲ 3.08% RDOR3 34.27 ▲ 0.62% HAPV3 11.67 ▼ 2.02% FLRY3 17.45 ▲ 1.04% SMTO3 13.80 ▼ 4.03% UGPA3 32.69 ▼ 1.24% VBBR3 35.32 ▼ 2.24% BBSE3 41.76 ▲ 0.97% BPAC11 57.44 ▲ 0.56% CURY3 31.58 ▲ 0.41% AERI3 2.17 ▲ 0.93% VIVARA 22.50 ▼ 1.49% COMPASS 24.63 ▼ 1.87% VAMOS 3.29 ▲ 0.92% SANB11 29.11 ▲ 0.62% ASAI3 8.64 ▲ 1.05% SBSP3 27.96 ▲ 1.41% WALMEX 50.22 ▲ 0.86% GMEXICO 218.00 ▲ 2.68% FEMSA 217.59 ▲ 0.15% CEMEX 19.97 ▼ 3.06% GFNORTE 197.68 ▼ 0.48% BIMBO 60.82 ▼ 0.77% TELEVISA 9.55 ▼ 1.75% AMX 21.56 ▼ 0.23% GAP 381.11 ▲ 1.34% ASUR 275.83 ▼ 0.99% OMA 238.63 ▲ 3.58% KOF 186.58 ▲ 0.84% GRUMA 263.43 ▼ 0.21% KIMBER 40.23 ▲ 0.25% SQM-B 62,271 ▲ 0.58% COPEC 6,278 ▼ 1.01% BSANTANDER 79.11 ▼ 1.65% FALABELLA 6,298 ▼ 1.35% ENELAM 87.69 ▲ 0.79% CENCOSUD 1,993 ▲ 1.94% CMPC 1,047 ▼ 0.28% BANCO CHILE 189.70 ▼ 1.44% LATAM AIR 25.44 ▲ 0.75% YPF 7,785 ▼ 3.95% GGAL 7,710 ▼ 3.26% PAMPA 5,330 ▼ 3.09% TXAR 649.50 ▼ 0.76% ALUAR 940.00 ▼ 2.74% TGS 9,485 ▼ 4.10% CEPU 2,270 ▼ 4.22% MIRGOR 1,630 ▼ 0.61% COME 42.00 ▼ 2.76% LOMA NEGRA 3,468 ▼ 3.34% BYMA 289.75 ▼ 0.94% TELECOM ARG 4,230 ▼ 3.53% ECOPETROL 16.16 ▼ 2.65% BANCOLOMBIA 89.78 ▼ 1.47% GRUPO AVAL 5.25 ▲ 0.19% CREDICORP 393.59 ▼ 0.56% SOUTHERN COPPER 194.83 ▲ 4.80% BUENAVENTURA 31.91 ▲ 4.73% MERCADOLIBRE 1,879 ▼ 1.06% NUBANK 14.48 ▲ 0.24% XP 17.15 ▲ 0.70% PAGSEGURO 9.47 ▼ 1.35% STONE 11.24 ▼ 1.01% GLOBANT 37.51 ▲ 1.00% TECNOGLASS 46.57 ▼ 0.41% GAP AIRPORT 220.60 ▲ 1.13% ASUR 275.83 ▼ 0.99% OMA AIRPORT 110.60 ▲ 3.63% AMX ADR 24.88 ▼ 0.32% FEMSA ADR 125.83 ▲ 0.06% CEMEX ADR 11.56 ▼ 2.36% PETROBRAS ADR 18.72 ▼ 1.79% VALE ADR 14.80 ▲ 1.47% ITAU ADR 8.19 ▼ 3.52% SANTANDER BR 5.69 ▼ 0.87% AMBEV ADR 3.04 ▼ 0.33% CSN 0.92 ▼ 0.66% GERDAU 5.07 ▲ 0.10% LATAM ADR 55.73 ▲ 2.23% BTC 64,283 ▲ 1.30% ETH 1,874 ▲ 0.84% SOL 74.12 ▲ 0.88% XRP 1.08 ▲ 0.16% BNB 593.58 ▲ 0.81% ADA 0.19 ▼ 1.17% DOGE 0.07 ▲ 0.32% AVAX 6.74 ▲ 2.61% LINK 8.22 ▲ 0.57% DOT 0.84 ▲ 2.32% LTC 44.71 ▲ 1.04% BCH 213.85 ▲ 0.34% TRX 0.33 ▲ 0.05% XLM 0.17 ▼ 0.68% HBAR 0.07 ▼ 0.56% NEAR 1.74 ▲ 0.47% ATOM 1.36 ▲ 0.25% AAVE 90.33 ▼ 2.11% SELIC 14.25% EMBRAER 90.30 ▲ 0.78% EMBRAER ADR 70.19 ▼ 1.06% JBS 13.51 ▼ 1.82% JBS BDR 69.43 ▼ 0.20% MBRF3 16.95 ▼ 4.24% MBRFY 3.25 ▼ 3.56% INTER 5.64 ▲ 0.09% EGX 54,502 ▲ 0.75% USD/ZAR16.39▼ 0.85% USD/NGN1,360▼ 0.28% NIKKEI 63,958 ▲ 0.32% CSI300 4,601 ▲ 1.27% HSI 25,853 ▼ 0.60% NIFTY 24,615 ▼ 0.64% KOSPI 6,359 ▲ 1.62% JCI 6,320 ▲ 1.37% USD/JPY157.74▲ 0.36% USD/CNY6.74▼ 0.18% DAX 26,202 ▲ 0.77% CAC 8,667 ▲ 0.61% FTSE 10,879 ▲ 0.20% MIB 53,541 ▲ 1.26% IBEX 20,024 ▲ 0.21% STOXX 656.86 ▲ 0.73% EUR/USD1.15▲ 0.23% GBP/USD1.35▼ 0.30% SPX 7,745 ▲ 1.90% DJI 54,181 ▲ 1.88% NDX 29,754 ▲ 3.40% RUT 3,037 ▲ 1.84% TSX 35,813 ▲ 1.67% VIX 16.41 ▲ 3.47% USD/CAD1.41▲ 0.13% US10Y 4.6290 ▼ 1.22% IBOV 178,370.29 ▲ 0.21% IPSA 11,020.25 ▼ 0.27% IPC MEX 66,700.17 ▼ 0.35% MERVAL 3,201,973 ▼ 2.21% COLCAP 2,358.64 ▼ 1.09% BVL PERÚ 57,475.88 — — USD/BRL 5.13 ▲ 0.91% USD/MXN 17.26 ▼ 0.48% USD/CLP 911.05 ▼ 1.56% USD/COP 3,194 ▲ 1.93% USD/PEN 3.39 ▼ 0.06% USD/ARS 1,496 ▲ 0.12% USD/UYU 40.19 ▲ 1.51% USD/PYG 5,932 ▲ 1.71% USD/BOB 12.03 ▲ 3.12% USD/DOP 58.31 ▲ 2.03% USD/CRC 446.90 ▲ 1.41% USD/GTQ 7.62 ▲ 2.50% USD/HNL 26.78 ▲ 1.90% USD/NIO 36.62 ▲ 1.01% USD/VES 750.21 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 156.98 ▲ 0.45% USD/TTD 6.71 ▲ 1.12% EUR/BRL 5.92 ▲ 1.16% BRENT 79.41 ▼ 5.20% WTI 75.79 ▼ 5.66% IRON ORE 161.91 — — COPPER 6.63 ▲ 1.85% GOLD 4,137 ▲ 2.56% SILVER 59.90 ▲ 3.86% SOY 1,177 ▲ 0.73% CORN 465.25 ▲ 3.56% WHEAT 638.00 ▼ 2.00% COFFEE 307.70 ▼ 3.69% SUGAR 15.06 ▲ 0.33% ORANGE JUICE 157.35 ▼ 0.63% COTTON 81.44 ▲ 0.11% COCOA 6,089 ▲ 2.53% BEEF 227.85 ▼ 1.41% CATTLE 345.95 ▼ 0.54% LITHIUM 71.81 ▲ 3.46% PETR4 42.55 ▼ 1.16% VALE3 76.33 ▲ 2.26% ITUB4 42.21 ▼ 2.22% BBDC4 18.21 ▼ 1.73% ABEV3 15.91 ▲ 0.89% BBAS3 21.03 ▼ 1.13% B3SA3 15.66 ▲ 0.26% WEGE3 48.89 ▲ 1.43% PRIO3 58.07 ▼ 0.74% SUZB3 42.76 ▼ 0.79% RENT3 38.90 ▲ 2.10% AZZA3 15.99 ▼ 1.48% CSAN3 3.98 ▼ 2.93% RAIZ4 0.28 ▲ 7.69% PCAR3 2.77 ▲ 0.73% GMAT3 3.96 ▼ 0.25% PSSA3 54.34 ▲ 0.63% CVCB3 1.40 ▼ 2.78% POSI3 3.49 ▼ 0.57% SLCE3 13.46 ▲ 0.82% NATU3 8.46 ▼ 0.47% BRKM5 5.88 ▼ 1.34% RANI3 8.34 ▼ 0.95% CSNA3 4.69 ▲ 3.99% CMIN3 5.70 ▼ 0.52% USIM5 7.47 ▼ 1.19% GGBR4 25.88 ▲ 0.98% ENEV3 26.86 ▲ 0.41% CPFE3 46.41 ▲ 0.65% CMIG4 11.22 ▼ 0.53% EQTL3 38.89 — 0.00% LREN3 13.67 ▼ 1.30% VIVT3 31.66 ▼ 1.98% RAIL3 14.08 ▼ 0.57% KLABIN 18.14 ▼ 0.55% RAIA DROGASIL 19.43 ▲ 3.08% RDOR3 34.27 ▲ 0.62% HAPV3 11.67 ▼ 2.02% FLRY3 17.45 ▲ 1.04% SMTO3 13.80 ▼ 4.03% UGPA3 32.69 ▼ 1.24% VBBR3 35.32 ▼ 2.24% BBSE3 41.76 ▲ 0.97% BPAC11 57.44 ▲ 0.56% CURY3 31.58 ▲ 0.41% AERI3 2.17 ▲ 0.93% VIVARA 22.50 ▼ 1.49% COMPASS 24.63 ▼ 1.87% VAMOS 3.29 ▲ 0.92% SANB11 29.11 ▲ 0.62% ASAI3 8.64 ▲ 1.05% SBSP3 27.96 ▲ 1.41% WALMEX 50.22 ▲ 0.86% GMEXICO 218.00 ▲ 2.68% FEMSA 217.59 ▲ 0.15% CEMEX 19.97 ▼ 3.06% GFNORTE 197.68 ▼ 0.48% BIMBO 60.82 ▼ 0.77% TELEVISA 9.55 ▼ 1.75% AMX 21.56 ▼ 0.23% GAP 381.11 ▲ 1.34% ASUR 275.83 ▼ 0.99% OMA 238.63 ▲ 3.58% KOF 186.58 ▲ 0.84% GRUMA 263.43 ▼ 0.21% KIMBER 40.23 ▲ 0.25% SQM-B 62,271 ▲ 0.58% COPEC 6,278 ▼ 1.01% BSANTANDER 79.11 ▼ 1.65% FALABELLA 6,298 ▼ 1.35% ENELAM 87.69 ▲ 0.79% CENCOSUD 1,993 ▲ 1.94% CMPC 1,047 ▼ 0.28% BANCO CHILE 189.70 ▼ 1.44% LATAM AIR 25.44 ▲ 0.75% YPF 7,785 ▼ 3.95% GGAL 7,710 ▼ 3.26% PAMPA 5,330 ▼ 3.09% TXAR 649.50 ▼ 0.76% ALUAR 940.00 ▼ 2.74% TGS 9,485 ▼ 4.10% CEPU 2,270 ▼ 4.22% MIRGOR 1,630 ▼ 0.61% COME 42.00 ▼ 2.76% LOMA NEGRA 3,468 ▼ 3.34% BYMA 289.75 ▼ 0.94% TELECOM ARG 4,230 ▼ 3.53% ECOPETROL 16.16 ▼ 2.65% BANCOLOMBIA 89.78 ▼ 1.47% GRUPO AVAL 5.25 ▲ 0.19% CREDICORP 393.59 ▼ 0.56% SOUTHERN COPPER 194.83 ▲ 4.80% BUENAVENTURA 31.91 ▲ 4.73% MERCADOLIBRE 1,879 ▼ 1.06% NUBANK 14.48 ▲ 0.24% XP 17.15 ▲ 0.70% PAGSEGURO 9.47 ▼ 1.35% STONE 11.24 ▼ 1.01% GLOBANT 37.51 ▲ 1.00% TECNOGLASS 46.57 ▼ 0.41% GAP AIRPORT 220.60 ▲ 1.13% ASUR 275.83 ▼ 0.99% OMA AIRPORT 110.60 ▲ 3.63% AMX ADR 24.88 ▼ 0.32% FEMSA ADR 125.83 ▲ 0.06% CEMEX ADR 11.56 ▼ 2.36% PETROBRAS ADR 18.72 ▼ 1.79% VALE ADR 14.80 ▲ 1.47% ITAU ADR 8.19 ▼ 3.52% SANTANDER BR 5.69 ▼ 0.87% AMBEV ADR 3.04 ▼ 0.33% CSN 0.92 ▼ 0.66% GERDAU 5.07 ▲ 0.10% LATAM ADR 55.73 ▲ 2.23% BTC 64,283 ▲ 1.30% ETH 1,874 ▲ 0.84% SOL 74.12 ▲ 0.88% XRP 1.08 ▲ 0.16% BNB 593.58 ▲ 0.81% ADA 0.19 ▼ 1.17% DOGE 0.07 ▲ 0.32% AVAX 6.74 ▲ 2.61% LINK 8.22 ▲ 0.57% DOT 0.84 ▲ 2.32% LTC 44.71 ▲ 1.04% BCH 213.85 ▲ 0.34% TRX 0.33 ▲ 0.05% XLM 0.17 ▼ 0.68% HBAR 0.07 ▼ 0.56% NEAR 1.74 ▲ 0.47% ATOM 1.36 ▲ 0.25% AAVE 90.33 ▼ 2.11% SELIC 14.25% EMBRAER 90.30 ▲ 0.78% EMBRAER ADR 70.19 ▼ 1.06% JBS 13.51 ▼ 1.82% JBS BDR 69.43 ▼ 0.20% MBRF3 16.95 ▼ 4.24% MBRFY 3.25 ▼ 3.56% INTER 5.64 ▲ 0.09% EGX 54,502 ▲ 0.75% USD/ZAR 16.39 ▼ 0.73% USD/NGN 1,360 ▼ 0.05% NIKKEI 63,958 ▲ 0.32% CSI300 4,601 ▲ 1.27% HSI 25,853 ▼ 0.60% NIFTY 24,615 ▼ 0.64% KOSPI 6,359 ▲ 1.62% JCI 6,320 ▲ 1.37% USD/JPY 157.64 ▲ 0.29% USD/CNY 6.7402 ▼ 0.09% DAX 26,202 ▲ 0.77% CAC 8,667 ▲ 0.61% FTSE 10,879 ▲ 0.20% MIB 53,541 ▲ 1.26% IBEX 20,024 ▲ 0.21% STOXX 656.86 ▲ 0.73% EUR/USD 1.1537 ▲ 0.20% GBP/USD 1.3452 ▲ 0.19% SPX 7,745 ▲ 1.90% DJI 54,181 ▲ 1.88% NDX 29,754 ▲ 3.40% RUT 3,037 ▲ 1.84% TSX 35,813 ▲ 1.67% VIX 16.41 ▲ 3.47% USD/CAD 1.4066 ▲ 0.16% US10Y 4.6290 ▼ 1.22%
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Op-Ed Guest Opinions

Opinion: Understanding the Dangers Facing the Future of Democracy

By · February 12, 2020 · 4 min read

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SÃO PAULO, BRAZIL – (Opinion) The history of the bizarre political events of the past few weeks in the US might best be avoided here by understanding the dangers facing the future of democracy there and elsewhere throughout the world. Perhaps this understanding can provide some useful lessons for Brazilians, if it is not too late.

Donald Trump richly deserved to be impeached and lose his presidency as a result of his use of his office to extort the Ukraine, a US ally fighting against Russian incursion on their territory, to release already authorized and urgently needed military aid in return for the Ukraine starting an investigation of Joe Biden, his probable adversary in the coming 2020 presidential election.

The history of the bizarre political events of the past few weeks in the US might best be avoided here by understanding the dangers facing the future of democracy there and elsewhere throughout the world.
The history of the bizarre political events of the past few weeks in the US might best be avoided here by understanding the dangers facing the future of democracy there and elsewhere throughout the world. (Photo internet reproduction)
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Trump escaped conviction and removal from office after an impeachment ‘trial’ in the Senate in which the Republican majority ignored the overwhelming evidence, voted against having any new witnesses or documents and acquitted the president. The trial was nothing more than a scripted reality show with less suspense than ‘Ultimate Beastmaster’ or ‘Big Brother Brazil’.

It was followed by Trump’s ‘State of the Union’ address, full of self-serving bravado and made-for-TV gimmicks like the surprise uniting of a soldier with his family and the awarding of a scholarship to a young African-American girl, a demonstration of pure popular entertainment, one of the few things Trump does exceedingly well. “Pro-wrestling theatrics” intoned the Russian website, ‘RT’.

In ancient Rome it would have been ‘bread and circuses’. Writing in ‘Huff Post’, William Astore said: “… the Roman use of bread and circuses — as a way to kill compassion to ensure the brutalization of Roman civilians and thus their compliance (or at least their complacency) vis-à-vis Imperial expansion and domestic policing — is powerful and sobering.”

Sound familiar?

Like Trump, Jair Bolsonaro displays all the signs of a would-be dictator. Little by little, he has pushed anti-democratic change in the name of democracy. Like Trump, while giving lip service to the protection of the environment, he has used his best efforts to defile it.

Just this past Wednesday, February 5th, he said that one day he hopes to restrain environmentalists in the Amazon region so that they will stop disturbing him. Like Trump, he is an advocate of violence against his enemies. Like Trump, he wants to collar or close independent media.

Just as Trump conjures up racist and anti-emigrant sentiment with visions of lawlessness, aware and fearful of the unrest throughout Latin America and the danger this would have to his presidency if it spreads to Brazil, the president sees military strength as his best protection.

Like Trump, Bolsonaro is both nativist and transactional. Trump has said that he could murder someone in the middle of Fifth Avenue without any penalty and believes ‘L’état, c’est moi’. Bolsonaro doesn`t seem to care at all about the state or where it is headed. The restitution of the infamous AI5 (Institutional Act Number Five) which allowed for the closing down of the Congress, the suspension of constitutional rights guarantees, other anti-democratic policies and all power to the president, is high on his agenda.

History has a strange way of repeating itself and we cannot study her lessons too carefully.

The biggest lesson is that authoritarian regimes will almost always work to strengthen their power and control. Their modern versions of bread and circuses intended to mollify the populace who keep them in power, have many different faces. But the corrupt intent of keeping power and all its trappings for the rich is the same. It hasn’t changed since the beginning of time. History teaches that it always ends badly.

In ancient Rome it would have been ‘bread and circuses’. Writing in ‘Huff Post’, William Astore said: “… the Roman use of bread and circuses — as a way to kill compassion to ensure the brutalization of Roman civilians
In ancient Rome it would have been ‘bread and circuses’. Writing in ‘Huff Post’, William Astore said: “… the Roman use of bread and circuses — as a way to kill compassion to ensure the brutalization of Roman civilians. (Photo internet reproduction)

Bolsonaro and Trump, both deeply flawed characters, are moving Brazil and the US away from their imperfect democracies. Cheered on by their cult-like supporters, they live in their own ‘alternate realities’ oblivious to their lack of compassion or institutional obligations as they grab more power and become more and more self-absorbed.

It is an open question whether the existing Brazilian and US institutions, the legislatures and judiciaries, are strong enough to successfully push back against the rising tide of authoritarianism.

Writing about the future of democracy in the US, the ‘New Yorker’ opined:
“If the Trump era has proved anything, it is that American democracy, which has never been without profound flaws, cannot be taken for granted. And yet institutions, movements, thinkers, and citizens—countless citizens, of all kinds—have shown their determination to preserve what is vital and necessary to a liberal-democratic society.“

Are there enough citizens in Brazil and the US to champion and protect these increasingly fragile democracies? Can we learn from history or will we mindlessly repeat it?

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