Here are some slides that caught my eye. The comments beneath each chart are mine.

Product Finding

Image placeholder title

The search begins with Amazon and increasingly ends at Amazon.

Social Media Role in Product Purchases

Image placeholder title

Social media plays a huge role in purchases. This explains the ad revenue of Facebook.

Household Debt Highest Ever Despite Low Unemployment

Image placeholder title

Household debt is high and rising. The Fed blew another housing bubble (everything bubble really).

Disturbing Trends in Savings and Debt-to-Income Ratio

Image placeholder title

People save less and less. Don't let the percentage fool you. Most people don't save anything.

Relative Spending Increases: Shelter, Insurance, Healthcare

Image placeholder title

Where's the money going? Shelter. Not only is shelter the biggest expense, it has grown at the highest percentage.

Relative Spending Increases: Food, Entertainment, Apparel

Image placeholder title

I often get into debates with people regarding food. I claim it's a bargain. Why? There is little government interference.

Technology Disruption Curves

![]( photos/mishtalk/economics/zmfATcSa4EegwR7v_znq6Q/LBpMFVmkNkqAMtM2R_CteQ)

That fascinating chart explains what is about to happen with autonomous vehicles in the next decade.

History Says There Will Be Jobs

Image placeholder title

History says there will be plenty of jobs. I agree, although most don't. The question though, is what will those jobs pay? On that, I am not so optimistic vs consumer debt loads.

The US as a Business

Image placeholder title

Trump claims he will run the US like a business. When will he start?

US Debt-to-GDP Highest Since WWII

Image placeholder title

The US was able to grow at a fast clip following WWII because US productive capacity was not destroyed, unlike Europe and Japan. A baby boom followed. There is no savior on the horizon this time.

US Debt-to-GDP Vs. Other Countries

Image placeholder title

A global debt crisis awaits.

US Entitlement Spending

Image placeholder title

Clearly, the current path is not sustainable. However, the US will stay on that path as long as Congress fails to address the issue. And here's a hint: Congress will not address the issue. Boomers will die first.

Medicare and Medicaid

Image placeholder title

Excellent Presentation

Thank you, Mary Meeker, for another excellent presentation.

Meeker is a partner at Kleiner Perkins Caufield & Byers. She presented her annual report on internet trends Wednesday at Recode's Code Conference.

Meeker has come a long way from her 2000 era "internet queen" persona.

CNBC provides a Scribd view of the presentation. I dislike embedded Scribd files so I downloaded the report and selected a baker's dozen set of charts that I liked.

Regarding Debt

As noted above, the US path is not sustainable. However, the US will stay on this path as long as Congress fails to address the issue.

Alternatively, millennials could hijack both houses of Congress and the executive branch as well. But would they renege or promises or make additional free money promises like universal income?

Trump said he would run the US like a business. But businesses don't lose money for 45 years and stay in business.

I believe Italy is a prelude to future US events. Populists will eventually take over.

For a discussion of what the eventual debt outcome may look like, please see Grave Consequences: Italy Bond Yields Soar, Protests Called, Euro Referendum.

Also see Italy: "Whatever It Takes" Stage Two, President Mattarella’s Strategic Blunder

Meanwhile, technology marches on.

Mike "Mish" Shedlock

Leading Economic Indicators (LEI) Unexpectedly Dive Into Negative Territory

The Conference Board's LEI index turned negative in June. The yield curve finally made a negative contribution.

Construction Spending Details: Diving Into the Plusses and Minuses

Construction spending rose 1.4%, led by non-residential construction. Let's dive into the details.

Durable Goods: Another Bad Report, Diving Into Questionable Details

With the second quarter roughly half over (from a data delivery standpoint), we have had three reasonably good or better hard data points, and at least a dozen bad ones.

Diving Into Nate Silver’s Secret Sauce

From the beginning of this election season I have been highly skeptical of the odds Nate Silver has placed on various candidates winning various primaries.

Bond Yields Dive on Apple Warning, ISM Report

Yields took another dive lower today with the 1-year to 7-year inversion still intact.

UK Defies Trump on Huawei 5G Technology Ban, EU Will Follow

UK Prime Minister Boris Johnson gave the go ahead today for the UK to use some Huawei 5G technology.

Goldilocks or Frankenstein: Saxo Bank "Technology Winter" Presentation

It's easy to see things the way you want, not how they are. Goldilocks or Frankenstein? Think about "peak expectations"

Diving Into the CPI: What’s in Your Basket?

The BLS says Consumer Price Inflation rose 0.1% for the month and is up just 0.9% year over year.

GDPNow Dives Following Jobs, ISM Report: Little Reaction in Nowcast

A volatility difference between the GDP models is again in play. GDPNow declined 0.5 PP to 2.7% while Nowcast rose 0.1.