After having somewhat belatedly discovered credit cards, an old acquaintance of consumers in Brazil, Americans are getting used to another Brazilian way of consuming: using installment payments to make small day-to-day purchases, such as trips to the supermarkets or to simply replenish basic supplies.
And the reason why this is happening is also something that Brazilians have known well for decades: inflation, which is eroding the purchasing power of American families and has made consumers increasingly resort to “buy now, pay later” apps “, or BNPL, as the Americans call the digital credit card.
Between January and March alone, food prices rose 8.4% in the US. An estimate by the agency equivalent to the Ministry of Agriculture in the country shows that, to have a nutritious diet, a family of four spent US$ 675 per month two years ago. Today, the value exceeds a thousand dollars worth of groceries.
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(In Portuguese, easily translated into English by your online translator)
Americans are still fortunate enough when compared to brazilians customers since fees are much lower than in Brazil.
In Brazil, for a fairly stable currency, the Brazilian Real, with an inflation of just about 6 % yearly, the fees for credit cards are about 5 % monthly, but the biggest problem is that most people are not able to pay the full invoice, then it is parceled with astronomical fees of 413 % yearly !
Not by chance that in a population of 220 million, 70 million are with their names in the Credit Protection Service (SPC) and can not purchase anything on credit anymore.
If you take out of this 220 million brazilian population the children and the forest indians, you may see that not many are with good credit score.
Maybe not so extreme, albeit this is a big negative path.
Despite all this, over 54 % of brazilian population are overweight. Food is cheap here, since Brazil produces food to feed 1,5 billion people, out of a population of 220 million. Most of this food is soybeans, which goes to China, also much meat.
Moreover people here like more home food, rice, beans, some meat and some vegetable.
Everyone like this food, rich and poor.
I think that what causes war is greed. If all countries would care about their own rich resources instead of willing the resources of another countries, there wouldn’t be wars.
Brazil is a good example of a peaceful country. Despite being a giant in South America, actually is the biggest country in the Southern Hemisphe, it has only friendship bonds with our neighbors and with all other countries.
h/t Brazilian Music