The G-20 said it would “significantly raise global growth” without overtaxing national finance through measures to promote competition and increase investment, employment and trade.

As an initial step toward achieving the $2 trillion target, each country will present a comprehensive growth strategy to a summit of leaders scheduled for November in the Australian city of Brisbane.

Given this healthy economic growth, the US electorate should be thrilled happy to be part of one of the fastest growing developed economies.

Yet they are clearly less than thrilled with the economy, let alone the administration or their representatives in Congress. Why? With real household income stagnant and still below where it was in 2012, the electorates view of the economy differs substantially from these numbers.

Unlike their elected representatives, they have to deal with the real world problems of making ends meet while juggling debt loads at credit card rates. It is likely that they have a deep and abiding sense that either these numbers are a bureaucratic fiction, or (more troubling) they are benefiting someone else:

The headline unemployment numbers mask a major deformation of the work force with fewer people choosing to look for work and more being forced to accept multiple part time jobs. People on the street understand the difference between an increasing quantity of part-time work and the quality of full-time jobs.

Real per capita disposable income was down -0.85% during 2013. And to maintain the prior years standard of living, the household savings rate plunged 2.3%.

For many households (and especially the 18-35 demographic) the Affordable Care Act (aka ObamaCare) will result in increased net monthly outlays for health insurance.

The per capita numbers continue to mask an ongoing shift in income distribution: although the average per capita income data has grown some 3.3% since October 2008 (per the BEA), the median household income has shrunk some 7% over that same time span (per Sentier Research). The typical member of the electorate lives at the median, and they are not sharing the growth reported by the BEA.

Slow down! We have too many cars: AutoNation CEO

Automakers should watch their bloated inventories even though 2014 seems like it will be a good year for car sales, AutoNation Chairman and CEO Mike Jackson told CNBC on Thursday.

The automakers have a “pretty bizarre” way of calculating inventories to justify these levels, he said in a “Squawk Box” interview. “But if you cut through the bogus calculations and look at dealer inventory for the Detroit 3, it’s over a 100-day supply. And it simply doesn’t need to be there.”

In response, Joe Hinrichs president of the Americas at Fordtold CNBC: “We have been cutting some production in the fourth quarter of last year and in the first quarter of this year on a couple of our product lines where we saw the inventory grow a little bit.”

But Hinrichs added, “The industry is a little different now. With our capacity running max out, we actually grow an inventory in the winter, come down in the spring and summer because we run our plants full all year round. In the old days when we had excess capacity, we’d take the plants down in the winter and work overtime in the spring/summer to supply to the demand.”

He added: “We’re watching it carefully, but I think we’re going to be OK.”