Bill Gross: It's Time To Play Defense

From CNBC via TheStreet

Gross argues that we have come to the end of a 30-year long stretch in which "offensively minded" central bankers pushed down interest rates and created a false sense of wealth.

After Bill Gross's major mistake last year predicting rising Treasury yields, I don't know how much weight we should give to his opinions. Nevertheless, he remains the manager of the world's largest bond fund.