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Banks are in survival mode. They must reflate the housing bubble, or the losses on their non-performing single-family residential loans will wipe them out. In order to reflate the bubble, the banks must keep these properties off the MLS, a task they...

24 September 2016 — Saturday YESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUM It was virtually a nothing day in gold.  It crawled a few dollars lower in morning trading in the Far East, then did nothing until 10 a.m. BST in London.  It crawled higher...

Prudent Bear’s Doug Noland marks the fifth anniversary of the collapse of Lehman Brothers — and the near-collapse of the global financial system — by asking whether the system’s flaws have been fixed. Blinder, Summers and Monetary...

As of right now, the owning class once again enjoys concentrated wealth. The postwar boom was a time of broadly shared prosperity, when working- and middle-class people not only enjoyed steadily increasing incomes but were also able to accumulate lifetime...

Remarks of David A. Stockman at the Edmond J. Safra Center for Ethics, Harvard University, September  26, 2013 The median U.S. household income in 2012 was $51,000, but that’s nothing to crow about. That same figure was first reached way...