Hey Grainbelt, how's this for economic ignorance?

[Ghost Ryder]

It's not often that I'm shocked by stupidity anymore. It's commonplace to run across an article where not only the main player, but also the media reporting it have absolutely no idea how utterly brain-dead they are. That said, every now and then a news piece comes out so full of pure unadulterated reason-vacuum that I'm literally left Gob-smacked.

Maybe we should all have a contest at finding a news article where the financial media prints economic ignorance and doesn't see the fault within? Anyway, here's my submission for this week's "stupidest economic policy written by the stupidest reporter";

http://mobile.bloomberg.com/news/201...-gasoline.html

They think this will control inflation? And Bloomberg doesn't seem to know what inflation is or what a refinery's location has to do with it? Good gawd....

[Faust100F]

Mo-peds must be burning a lot of gas down there. My understanding is that they claim to have huge oil reserves, but just cannot find a way to exploit them. I mean Brazil is "real third world" and is burdened with a large population of illiterate people,(just like the US. LMAO!) who cannot even afford the rear tire for a mo-ped.

So what am I missing here, maybe Bloomberg should take a trip to Brazil, it is really the 1950 United States along the coasts, the interior is a remote, limited access region, with little if any infra-structure. Sounds like a great place to invest ones money doesn't it! The internal problems in Brazil, will limit and restrict their development, Like China, manual labor is in vogue. But WTF do I know, I spent my time there in a beach front home surrounded by a coconut grove with white sandy beaches on the Ocean. So I may not have the "real inside skinny" on Brazil and I may be FOS. John

[thirsty]

From the article:

Demand is growing four times faster than the economy as consumers who are getting access to credit for the first time buy cars.

This is exactly why I wonder how much longer we can keep up the whole illusion of 'credit' in what is essentially a resource constrained world. These distortions in supply and demand are amplified by leverage, or buy now pay later. I can't help but think that has to end sooner or later, or is there another motivation to what we think is economic ignorance/incompetence???