Lula's Vision.

Brazilian President Luiz Inácio Lula da Silva's return to power has been marked by a contentious, bitter tone that has alarmed many in business and financial markets, as well as moderate voters. Lula is behaving as if he sees threats everywhere, and his presidency runs the risk of collapse. He faces the same array of enemies and false allies who conspired in 2016 to impeach Dilma Rousseff and later put him in prison. The armed forces remain loyal to Jair Bolsonaro, and the threat of a future uprising remains. Lula's desire to stimulate the economy through greater spending may have worked for President Joe Biden in 2021, but Brazil is on a short leash with markets.