http://www.pbs.org/moyers/journal/11072008/watch3.html
He sees neither a center-right nor a "progressive" nation. Whatever the center, it is profoundly frustrated and could break in any number of directions. The fact that the duopoly with a corporate (and finance) base is the antagonist only makes the outcome murkier.
The South of his Southern strategy has "narrowed," with developing suburban expanse from Northern Virginia on up, possible down into North Carolina. Florida is obviously changing, too.
The generational reign isn't so likely due to thinner party roots. And like other mature commentators, he notes that a demographic alone does not make a group. The point may seem mundane, but it sounds as though not everyone in the punditocracy gets it.
Shane