Emperor's New Clothes Meaning

(idiomatic) Something obvious and embarrassing that is politely ignored or that goes unacknowledged.

Example: 2005, "Is an M&S suit the emperor's new clothes?," The Guardian (UK), 26 May,
  Marks & Spencer announced a 19% fall in annual profits on Tuesday.
2005, Jeff Sabatini, "2006 Lexus RX 400h: The hybrid emperor's new clothes," New York Times, 31 Jul.,