Doug Kass Watch: CNBC Appearance (Video Included)

Doug Kass was on CNBC's Squawk Box today and he talked Woodstock, Joni Mitchell, Google’s IPO, and current equity prices.  Doug concludes its tough to make a call for a Bearish or Bullish market and the CNBC sound effects during the interview should really be reserved for 'B-rated' Sci-Fi movies.

The financial crisis is going to "haunt us for a long period of time" and secular, non-traditional headwinds are going to act as a governor to economic growth and stock market performance, said Doug Kass, founder and president of Seabreeze Partners Management.

“I call this recovery and earnings a statistical recovery," Kass told CNBC. "The recovery into 2010 will be shallow but self-sustaining. [But] I give it very low style points. Inventory replenishment, cost-cutting are low style points and they are not P/E expanding events.”

Kass said the leveraged lending and borrowing is also going to continue to affect the economy. He also sees interest rates, inflation and taxes rising.  

“The consensus is that one should stay bullish until the bills of higher interest rates, higher inflation and higher taxes come due,”  said Kass.

Enjoy the video: