It's Not A Free Market, It's Not A Controlled Market, It's A Gong Show Market

Tyler Durden's picture

From the latest monthly report by IceCap Asset Management, The Gong Show:

A free market is one in which government intervention and regulation is limited to tax collection, and the enforcement of private ownership and contracts. A controlled market is one in which governments directly regulate how goods, services and labour are priced and sold – the dynamics of economic supply and demand are ignored. Then there is the gong show market. Until recently, this type of market has only been available to 1970s TV game shows. Yet today, this exceptional form of dark comedy has been adopted by our global leaders as an acceptable approach to dealing with the World’s debt crisis. Unfortunately for every human being that fully grasps the enormity of the financial problems facing the World today, the reason for their dissatisfaction with the response from our global leaders is simply due to them not knowing the rules of the Gong Show. For your convenience, we provide them as follows...

Full report below: