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Mac Margolis

The Party's Over for Rousseff

Those are the last "oles" she'll be hearing for a while.
Enjoy the celebration while it lasts.
Enjoy the celebration while it lasts.

Beaming and wearied, her voice faltering, Dilma Rousseff stepped up to the microphone at the packed hotel auditorium in Brasilia and paused. She had just shoehorned victory from Brazil's closest presidential contest on record, beating Social Democrat Aecio Neves by 3.4 million votes out of more than 110 million cast, but you'd never have known how close it was by the militantes' war whoops.

These might be the last "oles" she'll hear for a while. Brazil's economy is in a ditch, inflation is 6.75 percent, running two points above target. Unemployment is low, not because of an opportunity bonanza but a shrinking labor pool as idled workers give up job hunting.