Economy Highlights

While the world has been transfixed by the astonishing economic growth in China and India, just out of the spotlight Brazil has been turning a once moribund economy into a juggernaut. Not so long ago you could watch the inflation rate tick higher by the hour in Brazil, unemployment grew just as quickly and the nation was in the grip of a military dictatorship. Despite all this, Brazilians have remained optimistic. With momentum building, tens of millions are being winched out of poverty.

Morningstar's Bob Johnson says flat nominal wages, increasing signs of inflation, and strapped state and local governments could hinder consumer spending.

The underlying trend in retail sales suggests a steady, but uninspiring, recovery rate, says Morningstar's Bob Johnson.

Devil's Derivatives' author Nick Dunbar talks about how financial innovation is killing the economy.

With around 120,000 people declared bankrupt each month, many of the squeezed middle-class see the American dream slipping away. "Our national myth is changing", explains journalist Thomas Hartmann. Whereas hard work was once seen as the route to prosperity in the US, nowadays the best most people can hope for is a lottery win. Disenchanted with the mainstream politicians who have not done enough to help them, many are turning to the traditionalist Tea Party.

Following a €109 billion bailout agreement thousands of Greeks have protested against austerity measures and even greater debt.This report goes to the grassroots and asks how ordinary Greeks view the crisis. Many in Greece foresee a bleak future as the country cuts deeper into pensions and salaries and sells off valuable assets. Protesters, who complain that they are paying the price of leaders' incompetence, are especially angry at for measures, "that turn Greece into a colony of its creditors"

Poland was the only EU country whose economy continued to grow uninterrupted through the recent financial crisis. Whilst other countries have hit disaster, it has developed into a vibrant European metropolis. In the university town of Krakow, young students are optimistic about their future in Poland."Warsaw is a truly fantastic place for business and the people are hungry for success". Whilst the youth in other European countries were rioting in the streets, Polish students were partying.