Rumors that Brazil’s finance minister — considered by many to be the only voice of reason in an administration riddled with corruption and determined to spend the country into bankruptcy — will shortly be resigning his position is causing more problems for the beleaguered nation.

On Wednesday, Fitch downgraded Brazilian debt to junk status, a move that caught almost no one by surprise. Standard & Poor’s made that move in September and Moody’s is likely to do the same shortly.

Argentina has replaced hardline leftist president Cristina Fernández with a supposed conservative reformer. But will Argentines be willing to accept short-term hardship to finally heal their economic woes?

A combination of corruption and central bank and government interventions is sinking Brazil's once-vibrant economy.

Socialists, such as Venezuelan President Nicolas Madura, will not be deterred in their quest to build their socialist utopias, even by the disastrous consequences of the economic reality their policies bring.

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