Rosenberg's Investment Outlook for 2013:

derryb

with 35 Charts to usher in the new year

"Real interest rates to remain negative: This is a very powerful positive thrust for the precious metals complex. . ."

Higashiyama

That's a very balanced presentation; he points out opportunities along with a sober but not hysterical looks at concerns.

Among the various charts, I think the sequence # 26, 27, 28 is interesting. It is a heck of a lot of debt to work through.

With regard to the chart on US monetary base, I think the main takeaway is that monetary policy if just not very effective in the current situation -- in any case, liquidity may help prevent a collapse, but it will not create growth if there are serious structural issues; I am actually not too worried about the ability of the Fed to unwind this in the case that GDP growth improves.