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August 18, 2008
Hollywood stars are cheaper than Brazilan ones
An interesting article entitled, "Real Rally End Signaled by Sex and City's Parker" on Bloomberg today says that Brazilian television commercials are using American movie stars because the appreciation of the real means that they now work for less than their Brazilian counterparts do. It's really something to see the U.S. supplying low-wage workers to what we used to consider the third world, especially when those low-wage workers are movie stars! Economists take this as a sign (one among many) that the real is now overvalued, and they're predicting that it will fall this year. But we probably shouldn't put too much faith in economists predictions: they're predicted that real would fall in each of the last five years, and it's gone up every year.
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