Economists have once again reduced forecasts for Brazil, as the country’s economic activity fails to gain traction. According to a weekly central-bank survey of 100 economists, Brazil’s gross domestic product will contract 1.45% this year. That’s a larger contraction than what was expected just a week ago. And inflation is running at an 11-year high. All of this and the Petrobras corruption scandal has put approval for Dilma Roussef, Brazil’s President, at the lowest level for a President in at least 20 years. Boom Bust’s Ameera David weighs in. Then, Worth Wray is on the show to talk about China. Wray is a broadly published global macro strategist and the co-author of a new book out called “A Great Leap Forward, ”which offers an understanding of why China is economically positioned where it is today. Worth explained the what the Great Leap forward meant in the past and how today’s growth, while having better underpinnings than the command and control model of Mao, is still predicated on an undue level of control that will reduce GDP growth into the future. He also says the rest of the world should be concerned about this growth slowdown because it will have implications for the global economy. After the break, Boom Bust’s Erin Ade breaks down how much Taylor Swift’s challenge to Apple Music matters for recording artists and why Apple changed its revenue model less than 24 hours after Swift came out against Apple’s initial revenue model. Afterwards, RT’s Peter Oliver tells us what to expect for crunch time for Greece as the country fast approaches the end of a bailout program due to expire on June 30th. Without the money, Greece could default on its loans before the end of the summer. And in The Big Deal, Ameera and Edward Harrison discuss why Greece really matters. We shouldn’t care about Greece because of the size of its economy. Rather, Greece matters because it sets precedents in an economic area that represents one-fifth of global economic output. What happens in Greece can eventually occur anywhere in the Eurozone. ... https://www.youtube.com/watch?v=N6WneXXf864