Fear of a new U.S. recession is no longer a fringe view

The L.A. Times reports:

The U.S. economy has officially been out of recession for two years, but fear of falling back into the abyss has dogged the recovery every step of the way.

Now, the prospect of recession no longer is a fringe view.

"Recession is not inevitable, but I think there's better than a 50-50 chance now," said Bill Gross, the respected investment chief at bond fund giant Pimco in Newport Beach.

Another failure of Keynesian economics.