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Thanks Obamacare: This Is What Americans Spent The Most Money On In Q4

If readers need clarification on what was the primary source of "growth" for the US economy in the fourth quarter, the same source that bumped up final Q3 GDP from 3.9% to 5.0%, is not clear please ping us: we will gladly explain the chart below.

And just in case the fading impact of Obamacare is not already priced in (it isn't because), here is what Q4 inventories: rising by $113.1 billion in Q4, this was the second highest quarterly increase in the 21st century, second only to September 2010.

So big in fact that even the most upbeat permabull has no choice but to admit the truth:

A $113B inventory build in Q42014 means we could see less production and hence

in the current quarter.

— Joseph A. LaVorgna (@Lavorgnanomics)

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