Brazil a middle class country - almost

According to several reports, including these in the WSJ and Exame, Brazilian Finance Minister Guido Mantega said Wednesday that Brazil's economy has embarked on a long-term cycle of growth and won't be subject to a bubble. "We have $250 billion in foreign reserves and we are vaccinated against crisis", he said. Mantega thinks inflation is under control and the country will grow between 5.5% and 6% this year. He also expects Brazil to create 2 million jobs in 2010.  "You can almost confirm" that Brazil is now a middle class country, due to government estimates that 50% of the population falls in the C socioeconomic class. Sounds pretty good, right?

My takes:

• While Brazil's growth prospects and economic situation are currently in favorable situations, investors can't take everything they hear as the absolute truth. The Finance Minister of any country is going to try and "sell" his/her country's growth prospects to attract more investment. 

• Mantega just totally jinxed the economy by saying "we are vaccinated against crisis"! What's the over/under for some far-off international incident (take your pick among a- terrorist attack in the Philippines b-debt crisis in eastern Sudan c- negative US job growth d- anything else you can think of)  to cause Brazil's economy to tank?

• "Almost" a middle class country? And I was almost a professional basketball player. And Cuba is almost a free market society. Better stop here. Like shooting fish in a barrel.

• Never, ever trust a guido in a high governmental position.