Michael Pento Mid-Week Reality Check

Michael Pento's intermezzi are very fun to listen to. This latest version is particularly emotional.

Summary:
- He is 70% in cash
- He has some gold
- He has some short positions
- He expects a market sell-off
- He expects end of tapering by mid 2014
- He sees macroeconomic indicators plunging: GDP, ADP, ISM, NFP ... Indeed, the bullandbearwise index, which monitors macroeconomic trends, is down considerably.

- We will see the U.S. dollar plunge if tapering ends and we see it right now as the U.S. dollar is now rolling over as you can see on this chart:

- U.S. bonds will not be the place to stay in, on a declining U.S. dollar.