Annualized auto sales spiked their most MoM in almost 3 years reaching their highest level since May 2007 and beating expectations by the most since cash-for-clunkers in 2009. Inventories are at record highs, GM channels are almost the most-stuffed on record, and incentives are surging once again… the “field of dreams” economy rolls on… what could possibly go wrong?
Mal-investment anyone?
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/i0yRXosknbU/story01.htm Tyler Durden