PIMCO’s Bill Gross says the “New Normal” should continue in 2013, and he expects both stocks and bonds to return less than 5% for the year. Gross also sees unemployment staying at 7.5% or higher during the year, and thinks gold will rise. He also discusses the fiscal cliff bill, and says that the drawn-out, contentious process of creating it “reaffirmed [members of Congress’] ineptitude”.