Click the play button above and listen to this segment from WLRN's hour-long episode, "The Sunshine Economy: Brazil & South Florida," with host Tom Hudson. The episode is part of an ongoing series examining key industries of the South Florida economy. Shows air Mondays at 9:00 a.m. on 91.3 FM.
The years 2009 and 2010 were dark days for Miami real estate. Home prices plummeted. Mortgages imploded. Foreclosures soared.
And buyers flooded in from Brazil.
Since that time, Brazilians have become the top foreign buyers of homes and especially condominiums in South Florida. As recently as June, the largest number of foreign-based online visitors to the Miami Association of Realtors website came from Brazil. In 2011 and 2012, most international buyers of residential real estate in the Miami area came from Brazil.
Originally published on Tue October 22, 2013 4:09 pm
Cuba will end the two-currency system it has used for nearly 20 years. Since the collapse of the Soviet Union, Cuba has used either American currency or a peso that's pegged to the dollar alongside its national peso.
The monetary unification will phase out a system that has become a symbol of exclusivity and foreign wealth. Many products that are imported into the country can be bought only with the dollar-based convertible peso. But most Cubans are paid in the standard peso, which is worth just a fraction of the other currency.
That’s how most Brazilians in South Florida are reacting to the sudden and sometimes violent outburst of protests sweeping their home country this week. While they’re obviously concerned to see hundreds of thousands of people taking to the streets in Brazil’s major cities, including São Paulo and Rio de Janeiro, they’ve long seen the frustrations bubbling beneath the surface of the nation’s waning economic boom.
Like Miami Herald sportswriter David J. Neal, who wrote so eloquently about his boyhood memories of the Indianapolis 500, I’m a Hoosier-turned-Miamian who spent many a May in my own youth at the world’s most famous race car track.
Click the play button above and listen to WLRN's hour-long episode, "The Sunshine Economy: Brazil & South Florida," with host Tom Hudson. The episode is part of an ongoing series examining key industries of the South Florida economy. The show airs Mondays at 9:00 a.m. on 91.3 FM.
This week was supposed to bring together the leaders of the largest and sixth-largest economies in the world. Brazil President Dilma Rousseff had been scheduled to make an official state visit to the White House but she called off the trip after it was revealed that the U.S. National Security Administration intercepted emails and telephone calls between herself, her staff and the Brazilian state energy company Petrobras.
Originally published on Thu October 10, 2013 8:32 am
Human rights activists are suing the United Nations on behalf of five Haitian families afflicted by cholera — a disease many believe U.N. peacekeeping troops brought to Haiti in the aftermath of the devastating 2010 earthquake there.
Originally published on Mon October 7, 2013 5:07 pm
Days after doctors said Argentina's President Cristina Fernandez de Kirchner must take a month off from work to recover from a brain hematoma, reports now indicate that she'll undergo surgery to relieve the condition Tuesday.
Anyone who’s traveled to Caracas in the past few years knows the drill. As soon as you clear customs, you scan the airport terminal for the guys in trench coats.
They’ve got the good stuff: bolívares, the Venezuelan currency, which they exchange for your dollars at the black market rate. That means what the bolívar is actually worth -- about six times less than the laughably overvalued official rate of 6.3 to the dollar.
Crew members aboard the U.S. Coast Guard cutter Valiant transfer bales of cocaine caught on Feb. 19. Roughly 1,400 pounds of cocaine were seized from a speedboat in the Caribbean in the operation. Officials say drug traffickers are sending larger shipments of cocaine through the Caribbean.
Credit Petty Officer 3rd Class Jon-Paul Rios / U.S. COAST GUARD
More of the cocaine smuggled to the United States is passing through the Caribbean, officials said, representing a shift in which drug traffickers are returning to a region they largely abandoned decades ago.
This article was originally published in October and has been updated.
Uruguayans love it when you tell them what a resort paradise Punta del Este is. Or how tasty the country’s Tannat wine is. Or what a stable democracy their small nation (pop. 3.5 million) has turned out to be.
What they don’t like is to hear Uruguay called, as many do label it today, “the Switzerland of South America.” Not that Uruguayans dislike Switzerland. But many if not most of them think the comparison is cliché, exaggerated, inaccurate, condescending.
Originally published on Mon September 30, 2013 1:53 pm
Canada is ushering in what it projects to be a $1.3 billion medical marijuana free market this week, as it replaces small and homegrown pot production with quality-controlled marijuana produced by large farms. The market could eventually serve up to 450,000 Canadians, according to government estimates.