While the global macro wheel is heading for a slowdown, could Lula prove to be the least anticipated fiscal hawk given the current state of affairs?

While the global macro wheel is heading for a slowdown, could Lula prove to be the least anticipated fiscal hawk given the current state of affairs?
Economic stability coupled with low rates and lack of effective regulation have led minor banks to take considerable risks chasing profits. Now the chickens are coming home to roost- and we have seen it before.