PIMCO CIO: "We began a recession in December"

Just because PIMCO founder and Chief Investment Officer Bill Gross leads assets worth $750 billion and thinks we are in a recession, what does he know? Doesn't he know that we are supposed to be cheerleaders for financial incompetence by the Bush administration and Alan Greenspan? Speaking out is really unpatriotic.

Gross changed PIMCO's strategy regarding subprime loan investments. This initially showed poor results compared to competitors, though he is looking pretty clever these days as the others implode with write-downs. He might just know a thing or two about where the economy is headed.