John Taylor is again making the media rounds, following last week's CNBC appearance in which his punchline is that next year was going to be "truly miserable", today he was on Bloomberg continuing his thesis of how doom and gloom will be with the US for a long, long time, and that courtesy of no QE3, risk is about to go bidless (he differs with the Zero Hedge outlook only on whether there will be QE 3 or not). His response to what an environment of no fiscal or monetary stimulus (in case it was not clear): it is bullish for the JPY, bullish for the USD, bearish for commodities and bearish for stocks. More importantly, in terms of timing, Taylor says that after being short the dollar, he went long a "week and a half ago" and expects a big upside USD catalyst in the next "3 or 4 days." which he follows up with the cryptic: "Our analysis of the markets has shown that they are very, very dangerous." Another trade that JT has on is a long JPY, short EUR - the reason for the EUR bearishness is that Taylor is very "confused" by the second European bailout. As for his long USd conviction, it is based on his belief that the market appears to believe that QE 3 is coming, and that once it is made clear that there will be no further monetary easing (good luck with that), the dollar will surge, following a slowdown in the economy, and a shortage of dollars.