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Weekend Edition

Fed Study: How We Made The Top 10% Richer Than Ever — geopolitic

Every three years, the Federal Reserve releases a study on consumer finances that is a stockpile of data on everything from household net worth to incomes. The 2019 Fed survey confirms statements I have made previously regarding how the Fed’s monetary interventions made the top 10% more prosperous than ever. They just left the vast majority of Americans behind.…
Fed Study: How We Made The Top 10% Richer Than Ever — geopolitic

AMC Entertainment to keep most theaters open — Financial Post

AMC Entertainment, the largest theater chain in the world, said on Tuesday most of its theaters in the United States and Europe would remain open, with several movie releases lined up for October and November. Read More
AMC Entertainment to keep most theaters open — Financial Post

IKEA eyes return to growth this year after sales shrank 4% in 2019/20 — Financial Post

STOCKHOLM — Retail sales at IKEA, the world’s biggest furniture group, shrank 4% in the year to the end of August as demand recovered quickly from a slump caused by COVID-19, brand owner and franchisor Inter IKEA said on Tuesday. Read More
IKEA eyes return to growth this year after sales shrank 4% in 2019/20 — Financial Post

‘Big progress’ in Brexit talks leaves EU seeing trade deal closer – sources — Financial Post

BRUSSELS — Britain and the EU are close to agreement on reciprocal social security rights for their citizens after Brexit, two diplomatic sources said, with one describing talks last week on an elusive trade deal as “one of the most positive so far.” Read More
‘Big progress’ in Brexit talks leaves EU seeing trade deal closer – sources — Financial Post

After the close

It’s a great time to be an X-Men fan (again) — Vox – All

X of Swords | Marvel/Larraz X of Swords proves that the X-Men don’t need the MCU for a great storyline. Halfway into the first issue of Marvel’s new X of Swords storyline, I realized two things: that X of Swords is the next great adventure the X-Men deserve, and that even though I have no…
It’s a great time to be an X-Men fan (again) — Vox – All

Final Comments on Lance Taylor’s “On the ‘Global Savings Glut” — Institute for New Economic Thinking

My previous comment, in summary, was as follows: (i) Professor Taylor chooses to ignore rather than dispute my point that the labour and capital shares of output, which together add up to 100%, must be measured in a comparable way in accordance with the definition of income set out in Value and Capital: An Enquiry…
Final Comments on Lance Taylor’s “On the ‘Global Savings Glut” — Institute for New Economic Thinking

Sterling weaker vs euro, focus remains on Brexit — Financial Post

LONDON — Sterling fell against the euro on Monday, although not by much, and most analysts say they now expect Britain and the European Union to meet the transition deadline and soon conclude a Brexit deal. Read More
Sterling weaker vs euro, focus remains on Brexit — Financial Post