You are talking about Bill Gross -- one of the most successful bond fund managers around. He's just laying it out as it is.
Richard W.
After you pointed it out, I looked it up. Out of all my 401K investments, his is performing the best.
That being said, he still used the word "hegemony" in a way that teed me off. That and claiming a mastry of the English language largely through reading reference materials biased me against an honest reading of this article. I don't much care for his writing style, but I don't invest based on it either.