Posts
Brasil's REAL at $1.57 per usd...is near a 3-year high.
And Goldman Sachs still claims it is the world's most overvalued currency.
But the REAL's new strength shocks new...and old...visitors with $16 caipirinhas.
One night at Marriott's Renaissance hotel in Sâo Paulo can cost 50% more than a night at the Renaissance in Manhattan.
"I don't remember prices like this in my whole 40 years covering Brazil and living there," said economist John Welch.
Now some economists are wondering aloud...if an asset bubble...especially in real estate...is forming there.
