Now replying your specific question: "The current government is just so bad?"
Yes.
Many of our numbers are the worst in 20+ years, without a solid external economy justification, our troubles are not because lack of exports or other serious effects caused by other countries that were unavoidable, but purely incompetence (or malice...)
Brazil consumers have the lowest confidence in 22 years, our GDP will have the biggest decrease in 24 years, inflation is the highest since FHC fixed it 20 years ago, the income of people, even if you ignore the exchange rate and count only in absolute BRL numbers, is decreasing, and although unemployment is "low" according to the government, the actual number of employed people is low too*
Also the president batantly lied at her campaign (she said she would not do lots of things she immediately did as soon she was re-"elected"), and lied about the energy situation.
The energy situation lie: Because the lack of rains in Brazil (that seemly is linked to the lack of rains in California), we can't rely on Hidroelectric powerplants, but the distribution lines are not all done, meaning that brownouts in some areas are likely (and we even had a country-wide blackout this year, when in the hottest day for some time, the extra power draw from air conditioners made the power lines overload), the president made several discourses with lies about this, trying to hide the situation for her upcoming campaign, she ended forcing the government as whole to give lots of conflicting information about the power situation, as result lots of important business that rely on great amounts of electricity (for example several types of metallurgy, manufacturing, cement industry) to stop investments, this started to cause unemployment and other issues long before Petrobras problems came to light.
Who in their right mind would invest in a country where you can't find reliable information about the infrastructure situation?
And of course, we have Petrobras issues by itself (for example for some problems caused while the president was working for Petrobras and even signed documents that caused the issues, she just stated she didn't read the documents... so she is grossly incoptent, or a malicious liar)
Of course, I might be biased, since my family has a personal bone to pick with the president (the president approved some stunts in 2013 and 2014 that led to several companies that work for the government get defaulted, my family in turn sold stuff for those companies, that defaulted us, saying they would pay us when the government paid them...)
* Brazil copied US bullshit unemployment number: you are only "unemployed" if you have zero income, government handouts included, and is looking for work, if you gave up, or get money from the government, or has income, even if it is tiny and from an illegal source, you are not unemployed
