Word: pt
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...interest rates inordinately high - and eventually snuffed out the very economic growth that the capitalist sales pitch had so loudly promised, not to mention saddling Brazil with massive new debt. "Brazil has become stagnated because we actually became less industrially competitive," Lula insists. "The time is right for the PT because we've been warning people for a long time about the things that are happening...
...October 6? The answer may lie in the recent failure of U.S.-backed capitalist experiments all over Latin America, which have left even more of the region's 500 million people mired in poverty. That, and the fact that the erstwhile firebrand leader of Brazil's Workers Party (PT) has in some ways repackaged himself as a Blair of Brazil, moving his party and its policies toward the center as Tony Blair has done so successfully for Britain's Labor Party...
...former trade unionist who used to hit the campaign trail looking like the late Jerry Garcia (of the Grateful Dead) has even trimmed his beard and begun wearing suits. "Today I'm more aware, more prepared, more mellow," Lula said in a TIME interview. "That radical PT doesn't exist anymore...
...PT, in fact, now governs five of Brazil's states, as well as its largest city, S?o Paulo, which is Lula's home base - where the federal government's industrial privatization project has sent propane gas prices soaring, leaving many urban families cooking with wood. But can Lula manage Latin America's largest economy (and the world's ninth largest)? Though Wall Street's favorite sport right now is demonizing Lula - and his platform is, indeed, full of expensive, perhaps fiscally risky social programs - he insists that he's not out to wipe away the free-market reforms and fiscal...
...Lula and the U.S. ever warm to each other? "Our elites still have the mentality of colonists," Lula told TIME. "Latin America has to quit treating the U.S. as an empire." In the interview, the PT candidate made it clear that, if he's elected, George W. Bush may have to wait beyond the current 2005 deadline to achieve a hemisphere-wide free-trade pact - especially since, as he notes, Bush preaches free trade to Brazil yet still maintains high tariffs against Brazil's most competitive products, steel and frozen orange juice. Which means the only choice Washington seems...