-- Stocks and bonds will return less than 5% in 2013.
-- Unemployment will stay at 7.5% or higher.
-- Commodities - Gold will go up. Oil will be above $100.
-- Fiscal cliff is real. We are going over the fiscal cliff. Next battle ground will be the debt ceiling discussions. All these will keep the markets uncertain.
-- His suggestion to Congress: stop kicking the can down the road and start seriously thinking of how to cut the deficit. Congress does not even recognize that it has $60 trillion worth of obligations and they will have to start working on cutting the entitlements along with increasing the taxes.
Credit and Source: Bloomberg
Here is the video: