Fed said 'recession dead'?

Yesterday, the Federal Reserve signaled that it thought the worst of the recession has passed. The thing is, for job seekers, that is not even the right question to ask. On the other hand, for people who try to make money buying stocks, it's now obvious that they should have taken President Obama's advice and bought heavily in March.

After all, since then, the S&P 500 has risen about 50 percent. Investors also should have shunned the equity investment advice of Bill Gross, PIMCO's German-insurance-company-backed bond guru who feasts at the U.S. government trough -- advising it on its purchases of mortgage-backed securities (MBSs) and commercial paper.