Middle Class and Deep in Debt | Global 3000 - The Globalization Program | DW | 27.01.2014
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Global 3000

Middle Class and Deep in Debt

The collapse of Lehman Brothers in the US in 2008 showed us all the dire consequences of living beyond our means.

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In recent years, Brazil has relied massively on the credit card to drive consumption - and on economic growth that is now running out of steam. Business activity is sluggish, inflation is rising and the rate of indebtedness among the population is extremely high. Never before have Brazilians been so deep in debt - more than 63 percent of Brazilian families are affected.