UBS analyst Geoffrey Dennis says yesterday’s 7-1 loss to Germany was so crushing that it upends the widely held theory that
- loss at home in the World Cup would be a positive for the country’s financial markets. A defeat, the argument went, would sour the national mood and prompt voters to oust President Dilma Rousseff, who has sunk the economy into stagflation.
“It is such a humiliating defeat that you wonder whether it will have a negative impact on Brazilians’ psyche,” Dennis said in a telephone interview from Boston yesterday. “It’s going to confirm to the people that ‘Look, our economy is struggling, we cannot get any growth, now we don’t even have a decent football team either.’”
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I’m gonna have to ask Adam to send me to the final. Purely for research purposes, of course.
