Optimism fading, protests spread across Brazil

The Middle-Class Revolution : All over the world, today's political turmoil has a common theme: the failure of governments to meet the rising expectations of the newly prosperous and educated. 

Tens of thousands of protesters in Brazil held rallies in at least 11 cities Monday, the fifth straight day of demonstrations in opposition to such issues as rising public bus fares and police violence.

Starting late last week, with several small protests denouncing a hike in public transport fares, demonstrations flared up yesterday, encompassing larger public anger at poor public services, police violence and government corruption. More than 200,000 took to the streets of Brazil's biggest cities yesterday, voicing frustration with the billions of dollars set aside for upcoming sports events like the World Cup and the 2014 Olympics, despite crushing levels of poverty in some places, and underfunded public education, health, security and transportation.

• The authorities raised bus fares by the equivalent of about 9 cents to 3.20 reais, about $1.47, prompting a wave of demonstrations that have grown in intensity.
• In Sao Paulo, South America’s largest city, an estimated 65,000 people filled the streets in the fifth and largest protest in two weeks organized by the student-heavy “Free Fare Movement” against the10% hike in the city’s bus fare.
• If one message stood out, it was that Brazilians are no longer willing to accept the rosy outlook that politicians in Latin America's biggest country have been painting for years.
• Until recently, Brazil was one of the world's most envied economies. An export boom, growing domestic demand and ambitious social welfare programs for much of the past decade led to average annual economic growth exceeding 4 percent and lifted more than 30 million Brazilians from poverty.
• After growth of 7.5% as recently as in 2010, Brazil last year grew by less than 1% and appears on track for another disappointing year in 2013.
• Vast economic differences still divide Brazil. A sluggish economy, rising inflation and the poor quality of public services are prompting optimism to wane. Brazil may have made big strides, but daily life for most people remains a gritty, frustrating ordeal compared to what they imagine when considering the country's elusive potential.
• Ratings agency Standard & Poor's has said it could downgrade Brazilian debt. The real, Brazil's currency, lags behind those of other emerging markets and has weakened by more than 10 percent from a March peak against the dollar.

Brazil's stock market - last 11 years

Last 6 months: after an impressive growth, Brazil's stock market reached a 52-week low today

The faces of the protest in Brazil

Activists demonstrate in front of riot police outside the Mane Garrincha National Stadium in Brasilia 

Protesters fill the streets of Rio de Janeiro, on June 17, 2013

A demonstrator holds a Brazilian flag in front of a burning barricade during a protest in Rio de Janeiro, on June 17, 2013

A protester looks at vandalized cash machines in a bank during a demonstration in Rio de Janeiro, on June 17, 2013.

Activists and students clash with riot police in a cloud of tear gas outside the Mane Garrincha National Stadium in Brasilia, on June 15, 2013. 

Demonstrators carry a sign reading in Portuguese "No to violence" in Brasilia, on June 17, 2013.

Demonstrators march toward the Mineirao Stadium, where Nigeria was playing Tahiti in the Confederations Cup