"Another Bout Of Risk Off In Late June": Hartnett's Gloomy View Of The World In 9 Charts

A slight change in format today from Michael Hartnett, who after his lengthy discussion of melting up markets, LTCM lessons (not) learned, why 4,200 remains a barrier to the upside, and of course the AI bubble which alone is keeping stocks from tumbling even if it means social upheaval in the coming years..

"... expect regulation and/or another push for universal basic income (UBI) policies, funded either by windfall taxation of corporations and/or Fed yield curve control (YCC) to fund bigger & bigger government budget deficits as AI = UBI = YCC."

... has decided to go mostly via the chart route this time, but not before addressing his most notable weekly observations in his latest Flow Show report (available to pro subscribers in the usual place). We start with his "zeitgeist" heard on the street quotes, which this week are pretty good: