Endemic corruption, indeed :-(

Petrobras has been a source of corruption feeding for decades... It just became worse in the last one. I guess those fields never had all that oil as promised... and they knew it.

Another two fully corrupt companies :-) (must be)

Statoil says it is pulling out of Arctic leases north of Alaska two months after Shell drilled a dry hole in a nearby region, the latest setback in the petroleum industry’s efforts to tame U.S. Arctic waters.

The Norwegian oil company has held leases and studied drilling conditions in the oil-rich Chukchi Sea north of Alaska for seven years, though it never drilled any wells there. The failure of Royal Dutch Shell’s $7 billion drilling expedition was discouraging, and it meant the Anglo-Dutch oil major would never build underwater pipes and other infrastructure that Statoil could have used to help transport its crude from below the frigid waters to land.

http://fuelfix.com/blog/2015/11/17/statoil-exits-arctic-leases-north-of-alaska/#26612101=0

Gross domestic product in Brazil contracted 1.7 percent in the three months ended in September, after a revised 2.1 percent drop the previous quarter, the national statistics institute said in Rio de Janeiro

Private consumption has now declined for three consecutive quarters (at an average quarterly rate of -8.5% qoq sa, annualized), and investment spending for nine consecutive quarters (at an average rate of -10.0% qoq sa, annualized). Overall, gross fixed investment declined by a cumulative 21% from 2Q2013.

My two cents, capitalism peaking down in an irreversible way (for some time now), many countries is this situation today and tomorrow it will get worse.

My view is different - while capitalism make things worse and do not allow to solve many things in principle, current issue arise from situation with resources and energy and their affordability to rising population.

Yes there is definitely a huge issue where the demand for more and more energy and resources got out of desired proportion, and power and "control" (aka death) is what is needed today for the rising population problem.

I think that elites are still confused. Old usual methods do not work.

Thing is, capitalism is a "name" for a method of bad decisions made in preference for economic and market value instead of Human value. This is why for me at least is dying and fast, economics and market values, are not essentially needed for individual survival, and when "control" from market minds start to take place, no matter the human value cost, survival of individual will also take place.

Well, capitalism is natural thing occurring from development of production tools. Ruling class require certain values (priority of individual interests, fake democracy) to keep control. Any proposals that this can be changed keeping capitalism is just wishful thinking.

The Symptoms are clear look at 3rd world countries being squeezed for the sustainability of the 1st world, How long will this last?

3rd world countries worked to 1st world for long long time. :-) Not only you must be oppressed to rise against oppression, you also must understand your interests and know that to do to fight for them.

Indeed, but if so, can you please share your opinion on why is this happening in Brazil (and rest of the world and where are we all heading?

You can check http://ourfiniteworld.com/ on that is happening. It is best matching model that I know (may be some other exist I am not aware of).

Extreme volatility in commodities indicate fundamental problems.

For me is an well planned strategy, where chaos comes as first goal of the elite, then let them kill each other (regular mortals) we push from the shadows, when things arrive to that state where more vulnerable we are, they come in as saviors, allowing to use whatever brainwash methods and cloaked slavery, available. And lastly global control with some kind of nazi weird philosophy. Guys we need to stop this B...S... plans somehow...

I do not think that it is super advanced plan. All elites just go with the flow. Any error on their side can cost them their lives.

For extremely long time life level improvement came from the skies, sorry, from the earth :-) ) Now you need to be extremely educated, have very good execution command chain and also be quite lucky to even keep same level.

Brazil’s President Dilma Rousseff will face impeachment proceedings in Congress, marking a deepening of the political crisis that is dragging Latin America’s largest economy further into recession.

http://www.bloomberg.com/news/articles/2015-12-02/rousseff-to-face-impeachment-in-brazil-congress-speaker-says

Something does not add up

GNI

Salaries

Exchange rate

@Vitaly_Kiselev We are stuck in here... The whole country is awaiting the end of Carnival for the year really begin. And we have no good news whatsoever. The left remains stubbornly headed by president Dilma and her incapable management and the right is waiting on the disaster to profit. Many people I know lost their jobs and the informal works are geting saturated... Tough times...

But we never had such amount of oil available! Look at the price of the barrel! And there´s more to come with the return of Iran in the international market.

The Brazilian economic downturn took a real turn for the worse in February,” according to Markit’s Composite PMI, which collapsed to record lows at 39.0. Despite a slightly less bad than expected GDP print this morning (still down a record 5.89% YoY), hope was quickly extinguished as PMIs showed economic activity continuing to contract at a record pace, job losses accelerating, and manufacturing’s collapse accelerating. As Market sums up, “With the global economy also showing signs of slowing, which will impact on external demand, it looks as if the downturn is set to continue to run its course in the coming months.”

Brazil's President Dilma Rousseff is to face trial over claims of manipulating finances after the Senate voted to impeach and suspend her.

As expected.