-- Thinks high for the year is already made and don't see market moving up from these levels.
-- He thinks markets are ignoring some real headwinds.
-- He sees fiscal and monetary policy as unsustainable and has lost edge in propping up growth.
-- Most vulnerable part of our economy is middle class whose incomes have not kept pace with necessities of life like food, education and insurance.
-- Consumer behavior will be different going forward and that will impact the GDP and the markets.
-- Market is fairly valued and thinks may go down from here at least 6% to 7%.
-- He thinks if he gets any data to revise his growth expectations to higher percentage it will make his thesis change on market.
Credit and source: www.cnbc.com, CNBC
Here is the video. Kass comes in at 2:26 into the video: