http://www.zerohedge.com/news/2014-03-13...post-2009-highs

Little know part of the story with the Jolly win in FL this week is that when Rat voters were asked why they were not enthusiastic about voting for Sink, they said that the economy they were promised was a lie they were not buying anymore. Right here is tangible proof that all the talk of "Green Shoots" and "Solid Recovery" are bullshit. Car production is factored heavily in the economic growth numbers but the problem is NO ONE is buying them. I noticed so dealers in my area are taking over vacant retail spaces to stockpile all these brand new units no one wants at 0% down, $2500 cash back with 8 years to pay it off....

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The 'field-of-dreams' recovery is dismally missing in action. This morning's inventory-to-sales data shows the US total at 1.32x - its highest since the financial crisis and highest in a decade aside from that. The worst sector - or more over-produced or mal-invested - drum roll please... Autos. As the following stunning chart shows, over the last 22 years, the auto-industry has only had a higher inventory-to-sales in the midst of the crisis. If we build it, they might not come... (and aparently they didn't).

Total inventory-to-sales back near ex-crisis highs...

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led by a total mess in Autos - which aside from the middle of the biggest financial crisis in 100 years, has never been higher...

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We assume this is great for parking lot sellers and that we will soon see 30-year auto loans to ensure this excess inventory is sold to the lowest common denominator... A Maserati in every garage - remember

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The same fraud on economic news is happening on the real estate side too. I am in that business and if people new how many forclosures were hiding in their neighborhoods and towns, they would freak. The banks are sitting on them, and in some cases letting the people keep living in them because if they all hit the market at once, the entire house of cards would collapse.

I think I remember reading about how banks are hiding the volume of housing on their books. The main scam being run is that Banks are letting people still live in these foreclosed properties to make them seem like they are normal. They are called Vampire properties and there is a hell of a lot of them...

http://www.worldpropertychannel.com/nort...entory-7443.php

That is insane. I also know another property investor who had a total loser property and stopped paying the mortgage on it when the thing went way underwater value wise. After the mortgage was sold a couple times, the last lender called him and said that if he payed them $5K on a $96K loan, they would release him from the debt and LET HIM KEEP THE HOUSE BECAUSE THEY DIDN'T WANT ANY MORE PROPERTIES ON THEIR BOOKS! That is also insane. He took the deal of course. Who wouldn't. LOL.

A lot of these banks who wrote bad loans do not care about the loss because the Fed has pumped them up with so much free money, it offsets the losses.