Tuesday Link-Ups: Brazil is Melting Down

If you have been reading my blog for a while – you know that I like keeping a portion of my portfolio in cash.  Mohamed El-Erian, chief economic adviser at Allianz Global Investors does a good job explaining this view:

• MarketWatch – El-Erian: Cash is more valuable than ever

Markets look tired today – not much to talk about.  I have been reading a lot about Brazil – would really not recommend going to this summer’s Olympics – looks like a train wreck:

• Rio Declares Financial Disaster Amid Funding Crisis As 2016 Olympics Loom
• Rio 2016 Organizers Remain in Denial Even as Tourism Flags
• Rio Olympics 2016: Another worry for Brazil as major subway line remains incomplete
• Business Insider – Rio is officially in a ‘state of public calamity’ ahead of the Olympics

And today Brazil’s largest Telco provider declared bankruptcy?

• Bloomberg – Oi Bankruptcy Sends Shockwaves Through Brazil’s Financial System

Seems like the country is in complete melt down mode – plus there is always Zika!