What Critics Keep Getting Wrong About Capitalism

Continuing Jobless Claims Tumble To 2-Year Lows The number of Americans filing for jobless benefits for the first time rose from 203k to 219k last week (higher than the expected 210k), but still hovering within the low-low range of the last four years... Source: Bloomberg New Jersey and Oregon saw the largest WoW rise in initial claims while Texas and New York saw the biggest decline... But, while initial claims rose, continuing jobless claims tumbled to the lowest level since May 2024... Source: Bloomberg Soft survey data continues to signal a stressed labor market, while...

Federal Government Pauses Funding To Los Angeles Homeless Agency Citing Fraud Allegations Authored by City News Service via The Epoch Times, The U.S. Department of Housing and Urban Development (HUD) on June 11 suspended federal funding to the Los Angeles Homeless Services Authority (LAHSA), cutting off millions of dollars to the L.A. region, over allegations of fraud and widespread mismanagement. HUD Secretary Scott Turner testifies before the Senate Appropriations Subcommittee on Transportation, Housing and Urban Development about his department's proposed FY2026 budget in the Dirksen Senate Office Building on Capitol Hill in...

Supreme Court Rejects Challenge To Trump's First-Term Tariff On China Authored by Aldgra Fredly via The Epoch Times, The U.S. Supreme Court on June 15 declined to hear a legal challenge to tariffs imposed on Chinese imports by U.S. President Donald Trump during his first term in 2018. The decision follows an appeal by HMTX Industries and other businesses after the U.S. Court of Appeals for the Federal Circuit last year upheld the tariffs, which Trump previously imposed on Chinese goods under Section 301 of the Trade Act of 1974 in response...