Brazil's economic collapse would pose grave dangers not only to the world financial structure, but to Latin America's political stability. Brazil has a high explosion factor. Sixty percent of Brazilians are dirt-poor blacks, marginalized from the economy and politics, kept sedated by soccer, samba, and carnival. A financial collapse will ignite violence and political extremism - and spread across Latin America. The financial world is overseen by three great economic powerhouses.
Japan is overlord of Asia's finances.
Western Europe dominates East Europe and Russia. The US's bailiwick is Latin America, Central America, and the Caribbean. Japan, mired in deep recession, has failed miserably to defend Asia. Europe has done no better in Russia. If the United States fumbles its financial manifest destiny in Latin America, head for the storm cellars.