Bill Gross: It's a Casino as Opposed to Mid-Western Farm

The transcript discusses the market's reaction to Brexit, focusing on the US Treasury's price fluctuations and the impact of volatility on trading strategies. It highlights the challenges of managing large currency and credit positions during market shifts and critiques the volatility-induced behavior in capitalism, likening it to a casino rather than a stable economic system.

How does the speaker describe the current state of capitalism in relation to market volatility?

What does the speaker mean by saying 'it's a casino as opposed to a Midwestern farm'?