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

Submitted by Tyler Durden on 08/21/2011 20:23 -0400

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:

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Sun, 08/21/2011 - 20:28 | 1584485 bigdumbnugly

c'mon.

chuck barris is > ben bernanke

Sun, 08/21/2011 - 20:42 | 1584523 TruthInSunshine

Wall Street Aristocracy Got $1.2 Trillion in Fed's Secret Loans
Bloomberg

Sun, 08/21/2011 - 21:30 | 1584634 wang (not verified)

and truth is stranger than fiction from Bloomberg (yes Bloomberg News)

Wall Street Aristocracy Got $1.2T in Secret Loans

http://www.bloomberg.com/news/2011-08-21/wall-street-aristocracy-got-1-2...

Sun, 08/21/2011 - 21:16 | 1584610 MayIMommaDogFac...

MayIMommaDogFace2theBananaPatch's picture

Serious gap in the Gong Show analysis -- missing is any mention that a regular judge on the show was a kinder, gentler (sort of) version of "The JP Morgue":

http://en.wikipedia.org/wiki/Jaye_P._Morgan

Or maybe we could say this is an instance of a combined homonym/pseudonym causing a case of mistaken identity?

Sun, 08/21/2011 - 20:29 | 1584490 zorba THE GREEK

The U.S. markets are the gong show and the European markets are Monty Python's Flying Circus.

Sun, 08/21/2011 - 20:30 | 1584494 tickhound

The Price is Wrong, bitch.

Sun, 08/21/2011 - 22:36 | 1584814 IQ 145

Plus 100. That is exactly the right answer. the Price is Wrong, bitch. But it's the only price we got, and we have to work with it; which is a bitch. Bleeding is alright, but whinning will get you nowhere.

Sun, 08/21/2011 - 20:30 | 1584495 WmMcK

Gene, Gene, Gene, the dancing machine -- bitchez.

Sun, 08/21/2011 - 21:19 | 1584616 gwar5

OMG! I feel old, I remember. Along with the unknown comic (who was pretty damn funny), and the girls scuking popsicles.

Sun, 08/21/2011 - 21:51 | 1584699 Creepy Lurker

Damn, you beat me to it! Was first thing I thought of too. lol

Sun, 08/21/2011 - 20:30 | 1584496 Scottj88

They are all algorithms at this point anyways.....

Physical gold is the safehaven.... bonds are the bagholders.

http://thehardrightedge.com/goldsafehaven/

In just the last 6 months, Gold has made new all time highs against the US Dollar (USD), The Euro (EUR), The Canadian Dollar (CAD), The Australian Dollar (AUD), The Great Britain Pound (GBP), and now even the safe-haven currency (amongst other currencies), the Swiss Franc (CHF). With the recent ascent of the Swiss Franc Gold Prices to new record highs, it may very well mark the start of the great super-cycle in gold, in which all currencies fall against gold. This Gold breakout to highs in all major currencies at roughly the same time with the backdrop of a worldwide sovereign debt crises seems to be the perfect scenario for a swift gold appreciation, and subsequent currency devaluations (inflation).

Sun, 08/21/2011 - 20:46 | 1584529 bid the soldier...

The cemetery is the safehaven.

Got a pulse? Bagholder

Sun, 08/21/2011 - 21:12 | 1584594 gwar5

Dark but true.

"I couldn't find the time for Death, so he kindly stopped for me." -- Emily Dickinson, spinster, poet, 19th century rapper.

Sun, 08/21/2011 - 22:38 | 1584818 IQ 145

People tell me, how the fuck you get up a 3:00 AM in the morning for this market shit; I tell them, there's plenty of time to sleep when you're buried. What did you want me to do, get a job? thanks, anyway.

Sun, 08/21/2011 - 20:32 | 1584500 Newsboy

The lazy posters on ZH all look like the Unknown Comic.

Sun, 08/21/2011 - 20:50 | 1584539 Transformer

What you say?

Sun, 08/21/2011 - 21:16 | 1584612 MayIMommaDogFac...

+$1.98 Beauty Show

Sun, 08/21/2011 - 20:33 | 1584502 g

it is a pile of shit bitchez

Sun, 08/21/2011 - 22:41 | 1584825 IQ 145

Plus fify. My Mentor in Futures Trading once told me, and he was completely serious, "I'd trade dogshit, if there was charting service for it and a clearing market". Absolutely. No whinning allowed.

Sun, 08/21/2011 - 20:35 | 1584507 spekulatn

From Bloomberg today,

Wall Street Aristocracy Got $1.2 Trillion in Fed’s Secret Loans

http://www.bloomberg.com/news/2011-08-21/wall-street-aristocracy-got-1-2...

Sun, 08/21/2011 - 20:46 | 1584528 IMA5U

so the lesson here is if you to be rich and influence politicans, work on wall street

or fund politicians to destroy wall street. but to do that you have to be rich

kind of a circular argument

Sun, 08/21/2011 - 21:49 | 1584690 Creepy Lurker

It's a club, and you're not in it. That's all you need to know.

Sun, 08/21/2011 - 22:44 | 1584837 IQ 145

Attribution; George Carlin; "it's a big club, and you're not in it". (from memory). I don't care, as lone people buy and sell shit for emotional reasons, I'll do alright; and when I don't, there's always the diaper and daytime TV home.

Sun, 08/21/2011 - 20:39 | 1584516 Caviar Emptor

New TV Soap Opera starring Ben Bernank: All My Zombies!

We got zombie US banks, and zombie Euro banks, now even small Greek banks. But don't kid yourself we don't also have : Zombie Wall Street (how long can they go without more QE or bailouts), even Zombie Sovereigns (Greece, Ireland, Portugal, and joining the family: Spain Italy Belgium). And we'll soon have zombie munis and zombie sates, zombie pension and money market funds, zombie auto makers, zombie political parties, zombie military......fill in your favorite zombie!

Sun, 08/21/2011 - 21:00 | 1584564 Hulk

Night of the dying monetary system. Not a low budget film this time...

Sun, 08/21/2011 - 21:31 | 1584642 Mongrel

Well, Hank Paulson does look like Frankenstein . . .

Sun, 08/21/2011 - 21:13 | 1584595 cpnscarlet

....and Tim Geithner as Uncle Charlie

Sun, 08/21/2011 - 20:48 | 1584532 IMA5U

zombie was a good song by the cranberries

http://www.youtube.com/watch?v=6Ejga4kJUts&ob=av2e

Sun, 08/21/2011 - 20:53 | 1584544 Kat

Tyler,

Somehow I think you must know this deep inside, but there is not such thing as a "controlled market".

There is a market (which implies that people are free to come to their own privae arrangements) and there is top down control (which implies that nobody is truly free to transact in a way that is most beneficial to them - except the politically connected).

Markets are either free or they are distorted to the point where they are not truly markets anymore.

We have the latter.

Sun, 08/21/2011 - 20:56 | 1584551 jakethesnake76

I'd be fer Chuck anyday over the current bunch on either side..

Sun, 08/21/2011 - 20:58 | 1584557 gwar5

That was Delish! Yes, I read all of it.

I am actually very very happy to know that Chuck Barris is in charge of this Gong Show. No offense to Benny, but I was afraid Benny Hill must still be alive.

Sun, 08/21/2011 - 21:08 | 1584587 wawazat

It is blank where the full report should be, can anyone help? Thanks

Sun, 08/21/2011 - 21:14 | 1584600 ramirez

A zombie market... time for it to rest in pieces and let the real gold-backed economy enter the stage room.

Sun, 08/21/2011 - 21:34 | 1584647 wang (not verified)

meanwhile Barack and Mitch on a happy holiday (via drudge)

http://l.yimg.com/bt/api/res/1.2/z5wuOPdW_536bT1nXzi8jw--/YXBwaWQ9eW5ld3...

Sun, 08/21/2011 - 21:39 | 1584663 I am Jobe

I wish the company I am working for gave me 6 or 7 weeks of vacation. WTF, Obama has not worked a day in his life.

Sun, 08/21/2011 - 22:50 | 1584850 IQ 145

Why did you vote for him? Why would you refuse to vote for a working business man? Because you "know" business men are "bad"; the TV told you so. Congratulations, you are the problem.

Mon, 08/22/2011 - 09:33 | 1585605 RKDS

How about because so many "businessmen" fund lobbyists that write anti-American laws to fuck up this country? What a total surprise that voters flip a coin at the polls, heads for giant douche and tails for turd sandwich...

Sun, 08/21/2011 - 21:40 | 1584665 I am Jobe

Social Security disability on verge of insolvency

http://news.yahoo.com/social-security-disability-verge-insolvency-090119...

Sun, 08/21/2011 - 21:59 | 1584722 KingdomKum

we few, we happy few, we band of silver holders !

Sun, 08/21/2011 - 22:51 | 1584853 IQ 145

THIS IS SPARTA! Bet your ass; we're a happy band of brothers.

Sun, 08/21/2011 - 22:08 | 1584742 Miss anthrope

Tyler, You are hot, I honestly wish I could take you in the back and take out my frustration on you!

Sun, 08/21/2011 - 22:53 | 1584862 IQ 145

Do you ever vacation in Hawaii? I have an advanced degree in frustration relief. Guaranteed results.

Sun, 08/21/2011 - 22:21 | 1584782 barroter

Wonder where the Unknown Comic fits into all of this? Ben Baby! Ben Baby! Ben baby!

As I see it, capitalism is dead or soon will be. Free markets, private markets or whatever you call them are a sad joke now. I think the last to comprehend this are our monied elites who cannot believe they killed this game with their own hands. I bet they're like some ardent Communist who refused to believe the Berlin Wall fell and kept clinging to their beliefs, and that it's just a minor blip.

So, elites, call up Gorbachev and ask his advice on how to cope with a system that you loved for years comes crashing down. He knows! Gorby can counsel you well.

Just because the Soviet system fell doesn't mean capitalism is immune from anything. We're seeing our own elite manager-surgeons killing capitalism while under the knife.

Mon, 08/22/2011 - 07:22 | 1585314 Koffieshop

Capitalism is not dead. Neither is socialism or keynesianism or whatever.

What is dying is globalism.
It's becoming clear to everyone that there need to be limits to how much stuff is interconnected and co-dependent.
The corrupt TBTF culture has spawned this global shitstorm. If any entity could go bankrupt in an orderly way, all would be well.

Mon, 08/22/2011 - 00:37 | 1585046 healey

Uh, a truly free-market is where there is no government. f

Mon, 08/22/2011 - 01:42 | 1585094 I Am The Unknow...

A Gong Show market/ Hey, I resemble that remark! Finally, a post after my own fart! Hey look, I was told if I made it in the Gong Show I could get a Golden Sack. I said that's great because all I have is a Brain Sack and half the time my head's in the dark. People ask me how long this money printing can go on and I say as long as you can make paper I've got a roof over my head!

Did anybody ever stop to notice that the regular judge on the Gong Show was none other than "JP Morgan"?

now that's not funny....

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

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