Word: nationalizes
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...Lula" is President Luiz Inácio Lula da Silva (no relation to Efigênia), and most Brazilians believe he's the reason their country is surviving the current downturn better than other places. In past crises, Brazil was usually the nation in need of the largest life preserver. If it wasn't drowning under fiscal recklessness, it was being held under by draconian austerity plans. Brazil, the old joke goes, is the country of the future - and always will be. Now, in the middle of the worst global downturn for decades, Brazil could finally be the country...
...Brazilian officials have long wanted to make a mark outside their neighborhood, but until recently, the world rarely noticed what went on there - unless it involved beaches, soccer or Carnaval. "Brazil always suffered externally because of its internal poverty," says Lula's foreign-policy adviser, Marco Aurelio Garcia. The nation's founding monarchy, which lasted until 1889, insulated the country from the region's 19th century upheavals but also spawned a quasi-feudal class system that led to the inequalities that persist today. In 2000, fewer than 3% of Brazilians still owned more than two-thirds of the arable land...
...social projects, the Growth Acceleration Program, which began in 2007, was funded largely by high commodity prices, most of which have now plummeted. But Brazil seems to have invested the windfall smartly. Exports have been diversified so as to reduce reliance on commodities, and before the downturn the nation socked away a record $208 billion in foreign reserves. The banking system has remained well regulated, and so far seems to have been less exposed to the toxic assets that have wrecked many U.S. and European banks. All this has "buffered Brazil quite a bit against the global downturn," says Paulo...
There is the America whose history you've lived through, and then there is the America guarded by the Watchmen, founded in 1940 as the Minutemen. In this parallel nation, in the Times Square revelry on V-J day, a nurse was kissed by the slinky superheroine Silhouette. J.F.K. greeted Dr. Manhattan, the preternatural, irradiated blue man, at the White House and was gunned down by the splenetic, cigar-chomping Comedian. A U.S. astronaut walked on the moon and found Dr. M. waiting for him. In 1971, President Richard Nixon sent Manhattan and the Comedian to Vietnam...
...Havana Cuban Shuffle In what analysts called the nation's biggest shake-up in decades, President Raúl Castro dismissed several top officials with ties to his ailing brother. The move, which some say indicates Castro is placing his imprimatur on the Cuban government, comes after his first year in office. Among those affected were Foreign Minister Felipe Pérez Roque and Vice President Carlos Lage, both of whom had been considered potential presidential candidates. Fidel Castro backed the moves, blasting some of his former cohort for being corrupted by 'the honey of power...