Financial markets are beginning to panic because Luiz
Inácio Lula da Silva, the veteran candidate of the
Workers Party, might win Brazil's October presidential
elections. In fact, the markets and the Brazilian people face
some unhappy choices whoever wins. Let's deal first with
"Lula," as the Workers Party (PT) candidate is known. In all
the elections he has contested previously, Lula has seen his
support climb in the early stages of the campaign but by
mid-year, that support typically flags as the field of
candidates narrows. Furthermore, the governing PSDB party will
soon begin broadcasting more of its political TV programs and
it has the right (determined by a formula based on each party's
congressional representation) to much more airtime than the
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