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China’s Crackdown Threatens Hong Kong’s IPO Boom And Offshore Wealth
China’s Crackdown Threatens Hong Kong’s IPO Boom And Offshore Wealth
China’s latest push to choke off capital flight is starting to hit Hong Kong right where it hurts, according to a new feature from https://www.bloomberg.com/news/features/2026-06-23/china-s-offshore-capital-outflow-crackdown-hits-hong-kong-wealth-boom.
For years, the city has served as the main offshore escape valve for mainland wealth — the place where Chinese founders, executives and wealthy families parked money, opened private bank accounts, bought property and set up family offices. Now Beijing is tightening that channel, raising questions about whether Hong Kong can remain Asia’s go-to offshore wealth hub.
Bloomberg https://www.bloomberg.com/news/features/2026-06-23/china-s-offshore-capital-outflow-crackdown-hits-hong-kong-wealth-boom that the latest measures include roughly $330 million in penalties against three brokerages widely used by Chinese investors to access offshore markets, along with tighter scrutiny of banks, trust structures and wealthy individuals moving money abroad. Advisers in Hong Kong say clients quickly began asking whether their accounts could be affected and whether more restrictions are coming. As one lawyer put it, Beijing isn’t slamming the door shut all at once — “they are installing a doorframe.”
That matters because Hong Kong has become deeply dependent on mainland money. Chinese households and companies moved a record $807 billion out of the country last year, and a large share of it landed in Hong Kong, helping the city overtake Switzerland as the world’s biggest offshore wealth hub. That money has supported luxury spending, real estate, stock trading and Hong Kong’s IPO rebound.
Now the mechanics of moving that money are getting harder. Bankers say mainland clients are facing tougher onboarding standards, including declarations that their wealth was sourced outside China. Private banks are fielding more questions from nervous clients, and some ultra-wealthy Chinese are already looking beyond Hong Kong to Europe, Switzerland and the US. The goal doesn’t seem to be stopping every dollar from leaving China, but making sure Beijing has more visibility and leverage over where it goes.
Beijing is also targeting the offshore structures Chinese founders have long used to turn mainland business success into foreign wealth. For years, the playbook was simple: build a company in China, wrap it in an offshore structure, list it abroad or in Hong Kong, collect dividends, then move that money into overseas property, trusts or family offices. China is now squeezing that route too, restricting red-chip IPO structures and tightening rules around whether Hong Kong listing proceeds can remain offshore.
The result is pressure on one of Hong Kong’s most lucrative ecosystems all at once: wealth management, offshore structuring, IPO underwriting and luxury spending tied to mainland fortunes. If rich Chinese can’t move money into the city as easily, Hong Kong doesn’t just lose deposits — it loses deal flow, brokerage activity, family office growth and some of the conspicuous consumption that has powered its rebound. As one Hong Kong lawyer put it, “The family office figures are looking great, but the doors are shutting.”
What’s driving this is straightforward: China needs control, and it needs revenue. The property downturn has hammered local finances, land-sale income has dried up, and Beijing has become more aggressive about tracking taxable wealth that has slipped offshore. It may not want to end offshore investing altogether, but it clearly wants tighter oversight, tighter rules and a bigger claim on the money once it leaves.
For Hong Kong, that creates a real tension. The city still wants to market itself as the natural offshore home for Chinese capital and the financial bridge between China and the rest of the world. But the more Beijing clamps down, the harder it becomes for Hong Kong to play that role with the same freedom it once did — making it look less like a safe haven and more like an extension of the same system wealthy Chinese were trying to hedge against in the first place.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 21:20
https://www.zerohedge.com/markets/chinas-crackdown-threatens-hong-kongs-ipo-boom-and-offshore-wealth
China’s Crackdown Threatens Hong Kong’s IPO Boom And Offshore Wealth
China’s latest push to choke off capital flight is starting to hit Hong Kong right where it hurts, according to a new feature from https://www.bloomberg.com/news/features/2026-06-23/china-s-offshore-capital-outflow-crackdown-hits-hong-kong-wealth-boom.
For years, the city has served as the main offshore escape valve for mainland wealth — the place where Chinese founders, executives and wealthy families parked money, opened private bank accounts, bought property and set up family offices. Now Beijing is tightening that channel, raising questions about whether Hong Kong can remain Asia’s go-to offshore wealth hub.
Bloomberg https://www.bloomberg.com/news/features/2026-06-23/china-s-offshore-capital-outflow-crackdown-hits-hong-kong-wealth-boom that the latest measures include roughly $330 million in penalties against three brokerages widely used by Chinese investors to access offshore markets, along with tighter scrutiny of banks, trust structures and wealthy individuals moving money abroad. Advisers in Hong Kong say clients quickly began asking whether their accounts could be affected and whether more restrictions are coming. As one lawyer put it, Beijing isn’t slamming the door shut all at once — “they are installing a doorframe.”
That matters because Hong Kong has become deeply dependent on mainland money. Chinese households and companies moved a record $807 billion out of the country last year, and a large share of it landed in Hong Kong, helping the city overtake Switzerland as the world’s biggest offshore wealth hub. That money has supported luxury spending, real estate, stock trading and Hong Kong’s IPO rebound.
Now the mechanics of moving that money are getting harder. Bankers say mainland clients are facing tougher onboarding standards, including declarations that their wealth was sourced outside China. Private banks are fielding more questions from nervous clients, and some ultra-wealthy Chinese are already looking beyond Hong Kong to Europe, Switzerland and the US. The goal doesn’t seem to be stopping every dollar from leaving China, but making sure Beijing has more visibility and leverage over where it goes.
Beijing is also targeting the offshore structures Chinese founders have long used to turn mainland business success into foreign wealth. For years, the playbook was simple: build a company in China, wrap it in an offshore structure, list it abroad or in Hong Kong, collect dividends, then move that money into overseas property, trusts or family offices. China is now squeezing that route too, restricting red-chip IPO structures and tightening rules around whether Hong Kong listing proceeds can remain offshore.
The result is pressure on one of Hong Kong’s most lucrative ecosystems all at once: wealth management, offshore structuring, IPO underwriting and luxury spending tied to mainland fortunes. If rich Chinese can’t move money into the city as easily, Hong Kong doesn’t just lose deposits — it loses deal flow, brokerage activity, family office growth and some of the conspicuous consumption that has powered its rebound. As one Hong Kong lawyer put it, “The family office figures are looking great, but the doors are shutting.”
What’s driving this is straightforward: China needs control, and it needs revenue. The property downturn has hammered local finances, land-sale income has dried up, and Beijing has become more aggressive about tracking taxable wealth that has slipped offshore. It may not want to end offshore investing altogether, but it clearly wants tighter oversight, tighter rules and a bigger claim on the money once it leaves.
For Hong Kong, that creates a real tension. The city still wants to market itself as the natural offshore home for Chinese capital and the financial bridge between China and the rest of the world. But the more Beijing clamps down, the harder it becomes for Hong Kong to play that role with the same freedom it once did — making it look less like a safe haven and more like an extension of the same system wealthy Chinese were trying to hedge against in the first place.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 21:20
https://www.zerohedge.com/markets/chinas-crackdown-threatens-hong-kongs-ipo-boom-and-offshore-wealth
Supreme Court Strikes Down Hawaii's Gun Restrictions In Major Second Amendment Case
Supreme Court Strikes Down Hawaii's Gun Restrictions In Major Second Amendment Case
https://www.theepochtimes.com/us/supreme-court-strikes-down-hawaiis-gun-restrictions-in-major-second-amendment-case-6025748,
The U.S. Supreme Court voted 6-3 on June 25 to strike down a Hawaii gun law that banned residents from carrying concealed weapons in privately owned public places, such as gas stations and shopping malls, without permission from the owners.
The majority opinion in Wolford v. Lopez was authored by Justice Samuel Alito.
Justices Elena Kagan, Ketanji Brown Jackson, and Sonia Sotomayor dissented in the case, which was closely watched by gun rights advocates.
Alito said the Second Amendment "has the same meaning in all parts of the United States."
"It cannot give way to 'the spirit of Aloha' in Hawaii - any more than it can yield to the spirit of the Big Apple - or the Windy City," he said.
"It applies in the same way to our 50th State (where about 8% of adults possess guns) and our 49th State (where the figure is roughly 59%).
"Merely local attitudes can neither shrink nor inflate the meaning of fundamental Bill of Rights guarantees that apply to the States through the Fourteenth Amendment."
Over the years, the court has invoked the so-called doctrine of incorporation to apply the constitutional protections of the Bill of Rights - the first 10 amendments to the Constitution - to the states. Initially, the Bill of Rights was understood to apply only to the federal government.
Hawaii's Act 52 banned handguns on private property unless the permit holder had received "express authorization to carry a firearm on the property by the owner, lessee, operator, or manager of the property."
It also banned firearms in bars, beaches, parks, and "sensitive places" such as hospitals, schools, and government buildings.
The law placed the onus on private property owners who wish to allow concealed carry on their property to communicate their policy to the public.
The state calls the rule requiring express authorization to carry the "default rule," but critics call it the "vampire rule," naming it after the mythical creatures that need permission to enter a property, Second Amendment expert Cam Edwards previously told The Epoch Times.
When the U.S. Court of Appeals for the Ninth Circuit reviewed the Hawaii law, it said the restrictions fell "well within the historical tradition," a reference to the legal test the Supreme Court adopted in New York State Rifle and Pistol Association v. Bruen (2022), which held that the Second Amendment protects the right to carry firearms in public for self-defense.
The appeals court had upheld the state law, pointing to a New Jersey anti-poaching law from 1771 and a Louisiana law from 1865 that it said were "dead ringers" for Hawaii's restrictions.
Earlier in the litigation, a federal district judge blocked the law, but the Ninth Circuit largely reversed that decision. In a 2-1 vote, the appeals court allowed Hawaii to enforce much of the law because, in its view, Act 52 was consistent with Bruen, which recognized a "sensitive places" exception to the right to bear arms in public.
At the oral argument on Jan. 20, Hawaii argued that the state statute protects private property rights and the public, while those challenging the law contended it violates their constitutionally protected right to carry guns in public to defend themselves.
The case was brought by three Hawaii gun permit holders and the Hawaii Firearms Coalition, a gun rights organization, alleging that the state violated the right to bear arms.
This is a breaking story and will be updated.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 20:55
https://www.zerohedge.com/political/supreme-court-strikes-down-hawaiis-gun-restrictions-major-second-amendment-case
Supreme Court Strikes Down Hawaii's Gun Restrictions In Major Second Amendment Case
https://www.theepochtimes.com/us/supreme-court-strikes-down-hawaiis-gun-restrictions-in-major-second-amendment-case-6025748,
The U.S. Supreme Court voted 6-3 on June 25 to strike down a Hawaii gun law that banned residents from carrying concealed weapons in privately owned public places, such as gas stations and shopping malls, without permission from the owners.
The majority opinion in Wolford v. Lopez was authored by Justice Samuel Alito.
Justices Elena Kagan, Ketanji Brown Jackson, and Sonia Sotomayor dissented in the case, which was closely watched by gun rights advocates.
Alito said the Second Amendment "has the same meaning in all parts of the United States."
"It cannot give way to 'the spirit of Aloha' in Hawaii - any more than it can yield to the spirit of the Big Apple - or the Windy City," he said.
"It applies in the same way to our 50th State (where about 8% of adults possess guns) and our 49th State (where the figure is roughly 59%).
"Merely local attitudes can neither shrink nor inflate the meaning of fundamental Bill of Rights guarantees that apply to the States through the Fourteenth Amendment."
Over the years, the court has invoked the so-called doctrine of incorporation to apply the constitutional protections of the Bill of Rights - the first 10 amendments to the Constitution - to the states. Initially, the Bill of Rights was understood to apply only to the federal government.
Hawaii's Act 52 banned handguns on private property unless the permit holder had received "express authorization to carry a firearm on the property by the owner, lessee, operator, or manager of the property."
It also banned firearms in bars, beaches, parks, and "sensitive places" such as hospitals, schools, and government buildings.
The law placed the onus on private property owners who wish to allow concealed carry on their property to communicate their policy to the public.
The state calls the rule requiring express authorization to carry the "default rule," but critics call it the "vampire rule," naming it after the mythical creatures that need permission to enter a property, Second Amendment expert Cam Edwards previously told The Epoch Times.
When the U.S. Court of Appeals for the Ninth Circuit reviewed the Hawaii law, it said the restrictions fell "well within the historical tradition," a reference to the legal test the Supreme Court adopted in New York State Rifle and Pistol Association v. Bruen (2022), which held that the Second Amendment protects the right to carry firearms in public for self-defense.
The appeals court had upheld the state law, pointing to a New Jersey anti-poaching law from 1771 and a Louisiana law from 1865 that it said were "dead ringers" for Hawaii's restrictions.
Earlier in the litigation, a federal district judge blocked the law, but the Ninth Circuit largely reversed that decision. In a 2-1 vote, the appeals court allowed Hawaii to enforce much of the law because, in its view, Act 52 was consistent with Bruen, which recognized a "sensitive places" exception to the right to bear arms in public.
At the oral argument on Jan. 20, Hawaii argued that the state statute protects private property rights and the public, while those challenging the law contended it violates their constitutionally protected right to carry guns in public to defend themselves.
The case was brought by three Hawaii gun permit holders and the Hawaii Firearms Coalition, a gun rights organization, alleging that the state violated the right to bear arms.
This is a breaking story and will be updated.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 20:55
https://www.zerohedge.com/political/supreme-court-strikes-down-hawaiis-gun-restrictions-major-second-amendment-case
Mark Carney Seeks "New World Order" That Excludes The US
Mark Carney Seeks "New World Order" That Excludes The US
It's rare to hear the phrase "new world order" spoken publicly in the post-pandemic world where globalists ultimately failed to implement their spectacular covid coup. In 2020, they were everywhere in the media bragging about the takeover; reveling in the vast geopolitical and economic changes that would come with their "4th Industrial Revolution". Today, there's barely a whisper of these concepts beyond closed doors.
High-level globalist and Canadian Prime Minister Mark Carney, however, didn't get the memo. His policy initiatives in the great white north are perhaps even more authoritarian than Justin Trudeau's and more insidious. Canada is on the fast track to becoming a woke Orwellian nightmare state, and this is putting the country in the direct path of conflict with the US.
Carney has continued his https://www.pbs.org/newshour/world/canadas-carney-says-middle-power-countries-shouldnt-compete-for-favor-with-the-u-s from the United States and align with Europe. In statements made over the past two weeks, Carney argued that middle-power countries shouldn't compete for favor with America.
Carney asserts that Canada and the European Union have a combined population that is more than twice that of the United States, a similarly sized economy and a collective defense budget that is twice that of China's. He also said smaller nations can multiply their strength by partnering with "like-minded allies" (i.e. far-left globalist governments).
The Prime Minister claims that Canada and Europe as a "force for good" that upholds values like human rights, dignity, and pluralism. As opposed to the US? Carney has been explicit in his antagonism for US meritocracy, nationalism and conservative ideals. It's the primary reason why the Trump Administration has targeted Canada with tariffs. Canada's woke authoritarianism is becoming a serious problem for greater North America.
Why give economic advantage to a foreign government that wants to destroy everything you stand for?
In response, Carney is seeking to join forces with the European Union with a vision for https://fortune.com/2026/06/13/canadian-prime-minister-mark-carney-new-world-order-european-union-us-vs-middle-powers/ that excludes the US entirely.
“The new world order will be built starting with Europe...Canada is the most European of non-European countries. We are transforming our cooperation with Europe.”
This rhetoric helps to explain why Canadian representatives have been oddly absent from recent trade negotiations and why Canada is no the https://www.cbc.ca/news/politics/mark-carney-technical-recession-analysis-9.7222511 that is experiencing a recession. Some Canadians are beginning to wonder if Carney is deliberately trying to sabotage any potential agreement that would end trade disputes with the US? The answer seems to be "yes", he is undermining negotiations by simply not showing up.
🚨 CARNEY MISSING IN ACTION 🚨
The U.S. ambassador says Canada and the U.S. are “not anywhere close” to a trade framework.
Now Mexico’s economy secretary says Canada was absent from negotiations.
So what exactly has Mark Carney been doing? https://t.co/dUd7srnGJ8
— Northern Perspective (@NorthrnPrspectv) https://x.com/NorthrnPrspectv/status/2069928766902591678?ref_src=twsrc%5Etfw
The idea that Canada and Europe will be able to form a counter-economy to the US ignores the fact that the US makes up 30% of global consumer spending. No other nation comes close. Even with the struggles of inflation, US consumer markets are a clear driver of trade around the world and there is no replacement.
The idea of a joint Canada/EU alternative also ignores the fact that these countries are largely socialist, which means their populations are crushed by high taxes, overwhelming bureaucracy and regulations that kill small businesses. Even if these countries work together, they will never have the business momentum required to drive growth. They are a lost cause that will sink further and further into full blown communist as a way to compensate.
Donald Trump's trade and tariff negotiations have sought to correct the unfair imbalances created by NAFTA under Bill Clinton and George H.W. Bush. This agreement created the primary nexus point for the globalization of the US economy and it was the final nail in the coffin for US manufacturing. Both Canada and Mexico were heavily enriched by the trade boost and cross border investments tripled while production jobs flowed out of the US.
The end goal of globalization is clear by the trade agreements that globalists create: The goal is artificial international wealth redistribution by forcing top tier economies to give up their advantages to smaller economies. In other words, wealthy countries are being incrementally degraded to make them equal with the lowest common denominator.
The more the US seeks to emulate European models, the more the economy declines. The same will happen to Canada. The country does have the means to be far more independent and self reliant, but that would require a dramatic change in national leadership (a conservative and pro-business regime). It doesn't look like this will happen anytime soon, and so, Canada faces a long and arduous path to financial oblivion.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 20:30
https://www.zerohedge.com/geopolitical/mark-carney-seeks-new-world-order-excludes-us
Mark Carney Seeks "New World Order" That Excludes The US
It's rare to hear the phrase "new world order" spoken publicly in the post-pandemic world where globalists ultimately failed to implement their spectacular covid coup. In 2020, they were everywhere in the media bragging about the takeover; reveling in the vast geopolitical and economic changes that would come with their "4th Industrial Revolution". Today, there's barely a whisper of these concepts beyond closed doors.
High-level globalist and Canadian Prime Minister Mark Carney, however, didn't get the memo. His policy initiatives in the great white north are perhaps even more authoritarian than Justin Trudeau's and more insidious. Canada is on the fast track to becoming a woke Orwellian nightmare state, and this is putting the country in the direct path of conflict with the US.
Carney has continued his https://www.pbs.org/newshour/world/canadas-carney-says-middle-power-countries-shouldnt-compete-for-favor-with-the-u-s from the United States and align with Europe. In statements made over the past two weeks, Carney argued that middle-power countries shouldn't compete for favor with America.
Carney asserts that Canada and the European Union have a combined population that is more than twice that of the United States, a similarly sized economy and a collective defense budget that is twice that of China's. He also said smaller nations can multiply their strength by partnering with "like-minded allies" (i.e. far-left globalist governments).
The Prime Minister claims that Canada and Europe as a "force for good" that upholds values like human rights, dignity, and pluralism. As opposed to the US? Carney has been explicit in his antagonism for US meritocracy, nationalism and conservative ideals. It's the primary reason why the Trump Administration has targeted Canada with tariffs. Canada's woke authoritarianism is becoming a serious problem for greater North America.
Why give economic advantage to a foreign government that wants to destroy everything you stand for?
In response, Carney is seeking to join forces with the European Union with a vision for https://fortune.com/2026/06/13/canadian-prime-minister-mark-carney-new-world-order-european-union-us-vs-middle-powers/ that excludes the US entirely.
“The new world order will be built starting with Europe...Canada is the most European of non-European countries. We are transforming our cooperation with Europe.”
This rhetoric helps to explain why Canadian representatives have been oddly absent from recent trade negotiations and why Canada is no the https://www.cbc.ca/news/politics/mark-carney-technical-recession-analysis-9.7222511 that is experiencing a recession. Some Canadians are beginning to wonder if Carney is deliberately trying to sabotage any potential agreement that would end trade disputes with the US? The answer seems to be "yes", he is undermining negotiations by simply not showing up.
🚨 CARNEY MISSING IN ACTION 🚨
The U.S. ambassador says Canada and the U.S. are “not anywhere close” to a trade framework.
Now Mexico’s economy secretary says Canada was absent from negotiations.
So what exactly has Mark Carney been doing? https://t.co/dUd7srnGJ8
— Northern Perspective (@NorthrnPrspectv) https://x.com/NorthrnPrspectv/status/2069928766902591678?ref_src=twsrc%5Etfw
The idea that Canada and Europe will be able to form a counter-economy to the US ignores the fact that the US makes up 30% of global consumer spending. No other nation comes close. Even with the struggles of inflation, US consumer markets are a clear driver of trade around the world and there is no replacement.
The idea of a joint Canada/EU alternative also ignores the fact that these countries are largely socialist, which means their populations are crushed by high taxes, overwhelming bureaucracy and regulations that kill small businesses. Even if these countries work together, they will never have the business momentum required to drive growth. They are a lost cause that will sink further and further into full blown communist as a way to compensate.
Donald Trump's trade and tariff negotiations have sought to correct the unfair imbalances created by NAFTA under Bill Clinton and George H.W. Bush. This agreement created the primary nexus point for the globalization of the US economy and it was the final nail in the coffin for US manufacturing. Both Canada and Mexico were heavily enriched by the trade boost and cross border investments tripled while production jobs flowed out of the US.
The end goal of globalization is clear by the trade agreements that globalists create: The goal is artificial international wealth redistribution by forcing top tier economies to give up their advantages to smaller economies. In other words, wealthy countries are being incrementally degraded to make them equal with the lowest common denominator.
The more the US seeks to emulate European models, the more the economy declines. The same will happen to Canada. The country does have the means to be far more independent and self reliant, but that would require a dramatic change in national leadership (a conservative and pro-business regime). It doesn't look like this will happen anytime soon, and so, Canada faces a long and arduous path to financial oblivion.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 20:30
https://www.zerohedge.com/geopolitical/mark-carney-seeks-new-world-order-excludes-us
YouTube Settles With Florida Teen Alleging Social Media Addiction Harms Ahead Of California Trial
YouTube Settles With Florida Teen Alleging Social Media Addiction Harms Ahead Of California Trial
https://www.theepochtimes.com/us/youtube-settles-with-florida-teen-alleging-social-media-addiction-harms-ahead-of-california-trial-6052475,
Google's YouTube has settled a lawsuit brought by a 16-year-old Florida boy who says the platform's features played a role in his social media addiction and harmed his mental health.
The settlement was reached ahead of a second California state court trial set to start on July 27. That trial will review similar allegations against Meta Platforms' Instagram, Snap Inc.'s Snapchat, and ByteDance's TikTok.
California state court filings portray the plaintiff, https://www.theepochtimes.com/article/after-landmark-verdict-next-trial-over-social-media-harms-focuses-on-teen-boys-addiction-6007026 only as R.K.C., as first using social media at about age 8. He says he became addicted, lost sleep, and developed depression and anxiety.
Terms of the agreement between YouTube and the teenager were not disclosed.
"YouTube's decision to resolve this case before having to face a jury speaks for itself," the plaintiff's attorneys, John Morgan and Emily Jeffcott, said. "We will continue fighting on behalf of all those affected by social media addiction to bring these companies to justice and compel them to prioritize the safety of their young users over their bottom lines."
Meanwhile, Google spokesperson Jose Castaneda noted the company's continuing work on safety tools.
"Our focus remains on building age-appropriate products and parental controls that deliver on that promise," he said in a statement.
The settlement follows a https://www.theepochtimes.com/us/jury-finds-meta-google-liable-in-social-media-addiction-trial-5998723 in a separate California case, in which a jury determined that Meta and Google were negligent after a young woman alleged that attention-grabbing design features on YouTube and Instagram played a role in her addiction.
Meta was instructed to pay $4.2 million in damages, and Google $1.8 million. A judge dismissed the companies' request to set aside the verdict earlier this month.
More than 3,300 lawsuits regarding addiction claims against social media companies are pending in California state court. Another 2,600 cases brought by individuals, school districts, municipalities, and states are pending in federal court in California.
States Pursue Claims
In May, a Kentucky school district https://www.theepochtimes.com/us/youtube-snap-and-tiktok-settle-kentucky-school-districts-social-media-addiction-claims-6026750 with Meta, Snap, TikTok, and YouTube before trial. The companies paid the district $27 million in total.
A jury in New Mexico https://www.theepochtimes.com/us/jury-orders-meta-to-pay-375-million-in-social-media-safety-trial-6003305 Meta in March to pay $375 million after finding that the company misrepresented the safety of its platforms for young users.
Nearly every state has filed lawsuits in local courts alleging that the companies misrepresented platform safety for young users and created services to addict children.
The July trial in California is the second in state court to test claims that social media platforms are intentionally engineered to be addictive and that this design has played a role in a youth mental health crisis.
Plaintiffs argue that attention-grabbing design features and other elements ensure that young users are engaged to an excessive degree, contributing to mental health problems.
Defense arguments in previous proceedings have pointed to other potential causes for the difficulties experienced by young people, including family circumstances and individual factors.
Reuters contributed to this report.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 20:05
https://www.zerohedge.com/political/youtube-settles-florida-teen-alleging-social-media-addiction-harms-ahead-california-trial
YouTube Settles With Florida Teen Alleging Social Media Addiction Harms Ahead Of California Trial
https://www.theepochtimes.com/us/youtube-settles-with-florida-teen-alleging-social-media-addiction-harms-ahead-of-california-trial-6052475,
Google's YouTube has settled a lawsuit brought by a 16-year-old Florida boy who says the platform's features played a role in his social media addiction and harmed his mental health.
The settlement was reached ahead of a second California state court trial set to start on July 27. That trial will review similar allegations against Meta Platforms' Instagram, Snap Inc.'s Snapchat, and ByteDance's TikTok.
California state court filings portray the plaintiff, https://www.theepochtimes.com/article/after-landmark-verdict-next-trial-over-social-media-harms-focuses-on-teen-boys-addiction-6007026 only as R.K.C., as first using social media at about age 8. He says he became addicted, lost sleep, and developed depression and anxiety.
Terms of the agreement between YouTube and the teenager were not disclosed.
"YouTube's decision to resolve this case before having to face a jury speaks for itself," the plaintiff's attorneys, John Morgan and Emily Jeffcott, said. "We will continue fighting on behalf of all those affected by social media addiction to bring these companies to justice and compel them to prioritize the safety of their young users over their bottom lines."
Meanwhile, Google spokesperson Jose Castaneda noted the company's continuing work on safety tools.
"Our focus remains on building age-appropriate products and parental controls that deliver on that promise," he said in a statement.
The settlement follows a https://www.theepochtimes.com/us/jury-finds-meta-google-liable-in-social-media-addiction-trial-5998723 in a separate California case, in which a jury determined that Meta and Google were negligent after a young woman alleged that attention-grabbing design features on YouTube and Instagram played a role in her addiction.
Meta was instructed to pay $4.2 million in damages, and Google $1.8 million. A judge dismissed the companies' request to set aside the verdict earlier this month.
More than 3,300 lawsuits regarding addiction claims against social media companies are pending in California state court. Another 2,600 cases brought by individuals, school districts, municipalities, and states are pending in federal court in California.
States Pursue Claims
In May, a Kentucky school district https://www.theepochtimes.com/us/youtube-snap-and-tiktok-settle-kentucky-school-districts-social-media-addiction-claims-6026750 with Meta, Snap, TikTok, and YouTube before trial. The companies paid the district $27 million in total.
A jury in New Mexico https://www.theepochtimes.com/us/jury-orders-meta-to-pay-375-million-in-social-media-safety-trial-6003305 Meta in March to pay $375 million after finding that the company misrepresented the safety of its platforms for young users.
Nearly every state has filed lawsuits in local courts alleging that the companies misrepresented platform safety for young users and created services to addict children.
The July trial in California is the second in state court to test claims that social media platforms are intentionally engineered to be addictive and that this design has played a role in a youth mental health crisis.
Plaintiffs argue that attention-grabbing design features and other elements ensure that young users are engaged to an excessive degree, contributing to mental health problems.
Defense arguments in previous proceedings have pointed to other potential causes for the difficulties experienced by young people, including family circumstances and individual factors.
Reuters contributed to this report.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 20:05
https://www.zerohedge.com/political/youtube-settles-florida-teen-alleging-social-media-addiction-harms-ahead-california-trial
China Eyes Iran's Postwar Reconstruction In Bid To Lock Up Future Oil Supplies
China Eyes Iran's Postwar Reconstruction In Bid To Lock Up Future Oil Supplies
Beijing is positioning itself to lead the post-war reconstruction effort in Tehran - a move analysts suggest could secure China long-term access to critical Iranian oil reserves.
The diplomatic groundwork was laid during a recent meeting in New Delhi between Chinese Foreign Minister Wang Yi and the deputy secretary of Iran's Supreme National Security Council, according to https://asia.nikkei.com/spotlight/iran-tensions/iran-war/china-plans-postwar-aid-for-iran-with-eye-on-energy-supply. The talks underscore China's broader strategy to expand its economic and diplomatic footprint in the Middle East amid the vacuum left in the wake of one failed US regime change and occupation war after another.
According to the report, Wang signaled Beijing's long-term commitment to the Islamic Republic in the wake of prior weeks of heavy US-Israeli bombing, stating that: "China will continue to provide assistance to Iran while supporting reconstruction and peacebuilding efforts in the region."
To date, China's official involvement has largely centered on humanitarian logistics - at least according to its public-facing narrative.
This includes an upcoming deployment of emergency medical supplies to Lebanon, following recent Israeli military strikes in the country. However, observers note that the transition from humanitarian relief to large-scale infrastructure development is a key mechanism for Beijing to solidify energy security.
Nikkei Asia has issued the following commentary on China's long-term plans in the https://asia.nikkei.com/spotlight/iran-tensions/iran-war/china-plans-postwar-aid-for-iran-with-eye-on-energy-supply:
Some observers argue that the U.S.-Iran war has strengthened Beijing's presence in the Middle East. Rumi Aoyama, a professor at Japan's Waseda University specializing in Chinese diplomacy, called China a "central hub where information on the situation in the Middle East was concentrated."
China has dialogue channels with both Washington and Tehran, and it enjoys friendly ties with mediator Pakistan as an arms supplier. The Iranian and Pakistani foreign ministers frequently visited China during negotiations on ending the war to report on the situation.
The Iran war may also have worked to Beijing's advantage in its dealings with Washington. With the U.S. prioritizing that conflict, it has been forced to ease up its pressure on China with regard to security and trade.
Yet Beijing has still welcomed the memorandum of understanding toward ending the war because stability in the Middle East is crucial for its energy security. Higher fuel and material prices caused by the war have dealt a blow to the Chinese economy.
Tehran, facing severe economic devastation and isolation from Western markets, has welcomed the Chinese overtures. High-level Iranian officials have made it clear they view Beijing not merely as an investor, but as a strategic anchor - akin to how defense ties with Russia have rapidly improved.
China has long been seen by outside observers as focusing on its soft power, such as through Xi's Belt and Road Initiative.
While Western policy has relied heavily on military intervention, Beijing is leveraging capital and reconstruction agreements to cement its influence over the Persian Gulf's energy infrastructure.
As we https://www.zerohedge.com/markets/chinas-oil-imports-plummet-eight-year-low, China - the world’s largest oil importer - sharply reduced crude imports after the conflict erupted in late February as prices initially spiked, sending oil imports to a 9 year low, a key reason why oil prices did not spike even higher in the past few months.
Also as Bloomberg has noted, the nation’s sustained slowdown in flows has brought into focus a nationwide shift away from fossil fuels that’s been driven by greater electrification.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 19:40
https://www.zerohedge.com/energy/china-eyes-irans-postwar-reconstruction-bid-lock-future-oil-supplies
China Eyes Iran's Postwar Reconstruction In Bid To Lock Up Future Oil Supplies
Beijing is positioning itself to lead the post-war reconstruction effort in Tehran - a move analysts suggest could secure China long-term access to critical Iranian oil reserves.
The diplomatic groundwork was laid during a recent meeting in New Delhi between Chinese Foreign Minister Wang Yi and the deputy secretary of Iran's Supreme National Security Council, according to https://asia.nikkei.com/spotlight/iran-tensions/iran-war/china-plans-postwar-aid-for-iran-with-eye-on-energy-supply. The talks underscore China's broader strategy to expand its economic and diplomatic footprint in the Middle East amid the vacuum left in the wake of one failed US regime change and occupation war after another.
According to the report, Wang signaled Beijing's long-term commitment to the Islamic Republic in the wake of prior weeks of heavy US-Israeli bombing, stating that: "China will continue to provide assistance to Iran while supporting reconstruction and peacebuilding efforts in the region."
To date, China's official involvement has largely centered on humanitarian logistics - at least according to its public-facing narrative.
This includes an upcoming deployment of emergency medical supplies to Lebanon, following recent Israeli military strikes in the country. However, observers note that the transition from humanitarian relief to large-scale infrastructure development is a key mechanism for Beijing to solidify energy security.
Nikkei Asia has issued the following commentary on China's long-term plans in the https://asia.nikkei.com/spotlight/iran-tensions/iran-war/china-plans-postwar-aid-for-iran-with-eye-on-energy-supply:
Some observers argue that the U.S.-Iran war has strengthened Beijing's presence in the Middle East. Rumi Aoyama, a professor at Japan's Waseda University specializing in Chinese diplomacy, called China a "central hub where information on the situation in the Middle East was concentrated."
China has dialogue channels with both Washington and Tehran, and it enjoys friendly ties with mediator Pakistan as an arms supplier. The Iranian and Pakistani foreign ministers frequently visited China during negotiations on ending the war to report on the situation.
The Iran war may also have worked to Beijing's advantage in its dealings with Washington. With the U.S. prioritizing that conflict, it has been forced to ease up its pressure on China with regard to security and trade.
Yet Beijing has still welcomed the memorandum of understanding toward ending the war because stability in the Middle East is crucial for its energy security. Higher fuel and material prices caused by the war have dealt a blow to the Chinese economy.
Tehran, facing severe economic devastation and isolation from Western markets, has welcomed the Chinese overtures. High-level Iranian officials have made it clear they view Beijing not merely as an investor, but as a strategic anchor - akin to how defense ties with Russia have rapidly improved.
China has long been seen by outside observers as focusing on its soft power, such as through Xi's Belt and Road Initiative.
While Western policy has relied heavily on military intervention, Beijing is leveraging capital and reconstruction agreements to cement its influence over the Persian Gulf's energy infrastructure.
As we https://www.zerohedge.com/markets/chinas-oil-imports-plummet-eight-year-low, China - the world’s largest oil importer - sharply reduced crude imports after the conflict erupted in late February as prices initially spiked, sending oil imports to a 9 year low, a key reason why oil prices did not spike even higher in the past few months.
Also as Bloomberg has noted, the nation’s sustained slowdown in flows has brought into focus a nationwide shift away from fossil fuels that’s been driven by greater electrification.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 19:40
https://www.zerohedge.com/energy/china-eyes-irans-postwar-reconstruction-bid-lock-future-oil-supplies
How Hakeem Jeffries Is In Big Trouble Politically After The Primaries
How Hakeem Jeffries Is In Big Trouble Politically After The Primaries
Tuesday night in New York City was no routine Democratic primary. Instead, it turned into a referendum on the Democratic Party itself, and the party lost.
Three socialist-backed candidates, backed by New York City Mayor Zohran Mamdani, won their races. The Democratic establishment got slaughtered, and the man left holding the wreckage is House Minority Leader Rep. Hakeem Jeffries (D-NY).
Every candidate Jeffries backed went down. That alone would be a bad night. What made it worse was the scene at the victory party for socialist-backed winner Claire Valdez, where the crowd erupted in boos when Jeffries's image appeared on screen, then broke into a chant: "You're next," a clear sign that his leadership position won't protect him from being a target of the Democratic Socialists of America Party.
The reaction from the crowd to https://x.com/RepJeffries?ref_src=twsrc%5Etfw https://t.co/hxqaFQCLdT
— katie honan (@katie_honan) https://x.com/katie_honan/status/2069593964991127713?ref_src=twsrc%5Etfw
The Republican National Congressional Committee read the room and sent Jeffries flowers and a condolence card. "Three losses in one night is tough," NRCC spokesman Mike Marinella said. "We wanted so-called 'Leader' Jeffries to know our thoughts are with him, his candidates, and whatever remains of his influence in the Democrat Party." When the opposition party is sending you sympathy arrangements, you've had a historically bad evening.
NEW: The https://twitter.com/NRCC has delivered flowers and a condolences card to House Minority Leader Hakeem Jeffries (D-NY) DC office after the House candidates he endorsed lost to Mamdani-backed socialists in NY last night. NRCC statement to https://twitter.com/FoxNews: "Three losses in one night is tough. We… https://t.co/tBhVrRZYzH
— Bill Melugin (@BillMelugin_) https://x.com/BillMelugin_/status/2069790767707525218
The casualties weren't minor figures. Rep. Adriano Espaillat (D-N.Y.), a long-term incumbent who chaired the Congressional Hispanic Caucus, lost his seat. So did Rep. Dan Goldman (D-N.Y.), who built his national profile as lead counsel for House Democrats during Donald Trump's first impeachment. Goldman is no moderate, and was arguably a hero of the left for years, yet voters in his own district just showed him the door because Mamdani wanted someone else.
What Tuesday revealed is something the Democratic establishment has been reluctant to admit: its own primary voters have turned against it. These aren't Republicans crossing over to cause chaos. These are Democrat voters who want to torch the house from the inside, and are using the Democratic Party infrastructure to do it.
Former DNC chairman Jaime Harrison saw it clearly enough to say something about it. "I say this with no ill will or animosity: if you hate the Democratic Party, then please don't run for our nomination," Harrison https://x.com/harrisonjaime/status/2069570034868047996 Tuesday night. "Don't use our resources. Don't rely on our volunteers. Don't use our infrastructure. Don't ask Democrats to invest their time, money, and energy in your campaign. Focus on building the party you actually support. Political parties aren't perfect, but they're built by millions of people who knock doors, make calls, organize meetings, and fight for the values they believe in. If you don't believe in the party, then don't ask its members to carry you across the finish line."
I say this with no ill will or animosity: if you hate the Democratic Party, then please don't run for our nomination. Don't use our resources. Don't rely on our volunteers. Don't use our infrastructure. Don't ask Democrats to invest their time, money, and energy in your campaign. Focus on building the party you actually support. Political parties aren't perfect, but they're built by millions of people who knock doors, make calls, organize meetings, and fight for the values they believe in. If you don't believe in the party, then don't ask its members to carry you across the finish line.
— Jaime Harrison (@harrisonjaime) https://x.com/harrisonjaime/status/2069570034868047996
Harrison is right about what's happening, even if his party built the conditions that made it inevitable. The Democratic Socialists of America have figured out a remarkably efficient strategy of running as insurgent candidates in Democratic Party primaries. They're parasites running on a host they intend to replace. And right now, they've got Jeffries in their crosshairs.
Jeffries survived Tuesday's primaries because nobody ran against him. But the DSA has now demonstrated it can knock off a caucus chairman and a nationally known impeachment lawyer in a single night. An emboldened socialist movement likely won't let Jeffries coast through the next cycle without a primary challenge. The "You're next" chant wasn't an empty slogan, but a promise.
The broader implications extend well past New York. Socialist candidates winning primaries in deep blue districts may feel like a local story, but the pull it exerts on the national party is real. Every time the Democrats lurch further left to appease their activist base, they surrender more ground with the centrist voters they need to appeal to nationally to win elections. The American electorate outside deep blue cities like New York City is not particularly receptive to socialism, and Republicans will spend the next two years making sure voters in swing districts understand exactly what the Democratic Party now stands for.
Jeffries entered Tuesday as the leader of House Democrats and the presumptive future Speaker. He exited it as a man his own base wants to bury. That's a hard thing to recover from, and the people who want him gone are just getting started.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 18:50
https://www.zerohedge.com/political/how-hakeem-jeffries-big-trouble-politically-after-primaries
How Hakeem Jeffries Is In Big Trouble Politically After The Primaries
Tuesday night in New York City was no routine Democratic primary. Instead, it turned into a referendum on the Democratic Party itself, and the party lost.
Three socialist-backed candidates, backed by New York City Mayor Zohran Mamdani, won their races. The Democratic establishment got slaughtered, and the man left holding the wreckage is House Minority Leader Rep. Hakeem Jeffries (D-NY).
Every candidate Jeffries backed went down. That alone would be a bad night. What made it worse was the scene at the victory party for socialist-backed winner Claire Valdez, where the crowd erupted in boos when Jeffries's image appeared on screen, then broke into a chant: "You're next," a clear sign that his leadership position won't protect him from being a target of the Democratic Socialists of America Party.
The reaction from the crowd to https://x.com/RepJeffries?ref_src=twsrc%5Etfw https://t.co/hxqaFQCLdT
— katie honan (@katie_honan) https://x.com/katie_honan/status/2069593964991127713?ref_src=twsrc%5Etfw
The Republican National Congressional Committee read the room and sent Jeffries flowers and a condolence card. "Three losses in one night is tough," NRCC spokesman Mike Marinella said. "We wanted so-called 'Leader' Jeffries to know our thoughts are with him, his candidates, and whatever remains of his influence in the Democrat Party." When the opposition party is sending you sympathy arrangements, you've had a historically bad evening.
NEW: The https://twitter.com/NRCC has delivered flowers and a condolences card to House Minority Leader Hakeem Jeffries (D-NY) DC office after the House candidates he endorsed lost to Mamdani-backed socialists in NY last night. NRCC statement to https://twitter.com/FoxNews: "Three losses in one night is tough. We… https://t.co/tBhVrRZYzH
— Bill Melugin (@BillMelugin_) https://x.com/BillMelugin_/status/2069790767707525218
The casualties weren't minor figures. Rep. Adriano Espaillat (D-N.Y.), a long-term incumbent who chaired the Congressional Hispanic Caucus, lost his seat. So did Rep. Dan Goldman (D-N.Y.), who built his national profile as lead counsel for House Democrats during Donald Trump's first impeachment. Goldman is no moderate, and was arguably a hero of the left for years, yet voters in his own district just showed him the door because Mamdani wanted someone else.
What Tuesday revealed is something the Democratic establishment has been reluctant to admit: its own primary voters have turned against it. These aren't Republicans crossing over to cause chaos. These are Democrat voters who want to torch the house from the inside, and are using the Democratic Party infrastructure to do it.
Former DNC chairman Jaime Harrison saw it clearly enough to say something about it. "I say this with no ill will or animosity: if you hate the Democratic Party, then please don't run for our nomination," Harrison https://x.com/harrisonjaime/status/2069570034868047996 Tuesday night. "Don't use our resources. Don't rely on our volunteers. Don't use our infrastructure. Don't ask Democrats to invest their time, money, and energy in your campaign. Focus on building the party you actually support. Political parties aren't perfect, but they're built by millions of people who knock doors, make calls, organize meetings, and fight for the values they believe in. If you don't believe in the party, then don't ask its members to carry you across the finish line."
I say this with no ill will or animosity: if you hate the Democratic Party, then please don't run for our nomination. Don't use our resources. Don't rely on our volunteers. Don't use our infrastructure. Don't ask Democrats to invest their time, money, and energy in your campaign. Focus on building the party you actually support. Political parties aren't perfect, but they're built by millions of people who knock doors, make calls, organize meetings, and fight for the values they believe in. If you don't believe in the party, then don't ask its members to carry you across the finish line.
— Jaime Harrison (@harrisonjaime) https://x.com/harrisonjaime/status/2069570034868047996
Harrison is right about what's happening, even if his party built the conditions that made it inevitable. The Democratic Socialists of America have figured out a remarkably efficient strategy of running as insurgent candidates in Democratic Party primaries. They're parasites running on a host they intend to replace. And right now, they've got Jeffries in their crosshairs.
Jeffries survived Tuesday's primaries because nobody ran against him. But the DSA has now demonstrated it can knock off a caucus chairman and a nationally known impeachment lawyer in a single night. An emboldened socialist movement likely won't let Jeffries coast through the next cycle without a primary challenge. The "You're next" chant wasn't an empty slogan, but a promise.
The broader implications extend well past New York. Socialist candidates winning primaries in deep blue districts may feel like a local story, but the pull it exerts on the national party is real. Every time the Democrats lurch further left to appease their activist base, they surrender more ground with the centrist voters they need to appeal to nationally to win elections. The American electorate outside deep blue cities like New York City is not particularly receptive to socialism, and Republicans will spend the next two years making sure voters in swing districts understand exactly what the Democratic Party now stands for.
Jeffries entered Tuesday as the leader of House Democrats and the presumptive future Speaker. He exited it as a man his own base wants to bury. That's a hard thing to recover from, and the people who want him gone are just getting started.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 18:50
https://www.zerohedge.com/political/how-hakeem-jeffries-big-trouble-politically-after-primaries
Qualcomm To Design China-Specific Data Center Chip In Compliance With US Export Curbs
Qualcomm To Design China-Specific Data Center Chip In Compliance With US Export Curbs
Qualcomm unveiled its data center chip lineup on Wednesday, becoming the latest chipmaker to enter the AI processor race in an attempt to challenge market leader Nvidia. CEO Cristiano https://asia.nikkei.com/business/technology/artificial-intelligence/qualcomm-to-design-china-specific-data-center-chip-in-line-with-us-export-curbsthe company is eyeing the China market for its data center products, including designing chips specifically for Chinese customers that are in compliance with U.S. export controls.
The mobile chip giant is revamping the design of data center processors, which is traditionally powered by graphic processing units (GPUs) and high bandwidth memory (HBM) chips.
Amon teased Dragonfly - a dedicated brand for AI data center solutions designed to break Nvidia's grip on AI infrastructure - at the Computex trade show in Taipei early this month.
The company unveiled more details about Dragonfly at its investor day in New York on Wednesday. Dragonfly encompasses four product lines: AI accelerators, data center CPUs, custom silicons and connectivity chips. Amon said Qualcomm is working to bring all four data center product lines to China, including customized AI accelerators for the Chinese market that will comply with US export controls limiting advanced AI chips sales above certain threshold.
"We have a big business in China, and I think as we started to diversify the company, our partnership with China and our China customers also expanded," said Amon, adding the relationship with Chinese smartphone makers and auto companies is also going to be "a strength that we're going to bring on the data center side. " However, "there are very clear guidelines about how you can ship products to China, and we have versions of all of our products that comply with those guidelines, " he said. "We are engaged in conversations and are positively optimistic about the reaction we're getting."
Qualcomm's data center processor features a design that differs from AI racks deployed in data centers. Dubbed high bandwidth compute (HBC), Qualcomm said the near-memory compute design will make its data center chips deliver six times the bandwidth per watt versus HBM-based solutions.
The data center compute market is dominated by AI racks powered by Nvidia's GPUs and HBM chips that are produced by South Korean companies SK Hynix and Samsung. Both Samsung and SK Hynix are also working on near-memory and on-memory compute as memory capacity becomes the latest AI deployment bottleneck.
Amon said the HBC will be different from the processing-in-memory (PIM) architecture other memory chipmakers are developing.
"This is a very unique technology that allows you to develop 3D-stacking of the DRAM alongside logic that is built for the accelerator," he said, adding that HBC significantly increases available memory, reduces bandwidth bottleneck and improves compute efficiency.
As the global memory chip crunch continues, Amon said they have secured enough memory for its data center products in fiscal year 2027 and the new HBC technology will also help ease the memory chip shortage.
"This technology is starting to get interest, we now have memory vendors, small and large ones, now engaging with Qualcomm and want to partner with Qualcomm on HBC," the CEO said.
In addition to better compute performance, Qualcomm said the HBC architecture also uses less energy and costs less to own. In video messages, Microsoft and Meta CEOs said the two companies' data centers will be early adopters of Qualcomm's data center chips including HBC and CPUs.
Qualcomm said the first HBC chip will ship with its AI250 data center rack in fiscal year 2027. The company told investors Wednesday the new data center products are expected to bring in $300 million in revenue in the current fiscal year, and $5 billion in fiscal year 2027, which starts in October. Qualcomm estimates the total addressable market for data center chips will be more than $1 trillion by 2029 and the company will take a more-than-5% share of that market.
At the Wednesday keynote, Amon said it is "never too late" for Qualcomm to enter the data center chip business because "this is a market that moves very, very fast. So, if you have technology leadership, there's always room for you."
In addition to AI accelerators powered by the new HBC design, Qualcomm also unveiled a CPU designed for data centers and AI inference, announcing the company has won "two major hyperscaler deals" for custom-designed data center chips that will bring in "meaningful revenue" by the end of the year.
Amon also touted a close partnership with the contract chipmaking giant TSMC that will give it a leg up in the data center chip race.
"As soon as TSMC finishes the mask, we go to production, and we go to production at scale. That's the maturity of our manufacturing capabilities," said Amon.
It is yet to be seen if Qualcomm can convince investors and customers alike to be a competitive alternative to Nvidia products.
"Current data center revenues remain de minimis and reliant on Qualcomm proving they are able to bring strong CPU [and] NPU performance from consumer devices to more complex data center workloads," Vivek Arya, analyst at Bank of America, said in a note Tuesday, adding that Qualcomm is entering a "fast-growing but hyper competitive AI market full of large incumbents."
NPU refers to neural processing units, hardware designed to perform AI computing tasks.
Ahead of an investor meeting Wednesday, Qualcomm announced the acquisition of chip software startup Modular Inc. in an all-stock deal valued at nearly $4 billion that will help Qualcomm compete with Nvidia's CUDA ecosystem.
In addition to its advanced AI processors, Nvidia's lead in the data center market is solidified by the CUDA computing platform that makes its AI chips more efficient and easier to program.
On Wednesday, Nvidia CEO Jensen Huang told the annual shareholders meeting that while his company's systems "may not be the cheapest to produce, to purchase, but Nvidia generates the lowest cost tokens, the highest token throughput and the most revenues. "
Bloomberg reported last month that Qualcomm had struck a deal with ByteDance to supply the Chinese tech giant with custom AI data center chips. The deal is structured to fall within existing U.S. export control thresholds, a design choice that signals Qualcomm's intent to capture Chinese AI demand without irritating the White House.
The U.S. chip giant will likely face similar regulatory scrutiny as Nvidia and others over China exports.
The Trump administration unveiled new guidelines for the export of powerful AI chips to Chinese entities outside of China in June. The U.S. Department of Commerce said it will implement license requirements for Chinese companies headquartered in China, even if they are physically located outside the country.
China accounted for 46% of Qualcomm's revenue in 2025, mostly from smartphone chips. Qualcomm's CEO was part of a high-profile business delegation that accompanied Trump when he visited President Xi Jinping in China this May. Amon said Wednesday the company's presence at the leaders summit is an example of what a "win-win" relationship between the two countries looks like.
Amon said the epicenter of AI agent development is in China, with new agentic use cases emerging across platforms from smartphones and glasses to cars.
"Actually, when I talk about China, I am in a situation right now that I don't know who the mobile customers are anymore, because there are OEMs, but every single AI foundational model company building agents also are customers," he said.
Meanwhile, Qualcomm announced a deal with Saudi Arabian AI company Humain, which has committed to deploying 200 megawatts of Qualcomm accelerator racks, beginning this year.
The world's leading mobile chip developer, Qualcomm, has long been a leader in premium chips for flagship smartphones such as Samsung Electronics and Xiaomi, and has gradually expanded into the PC market. It announced its first chip for budget PCs at Computex in Taipei earlier this month.
Qualcomm still generates most of its revenue from mobile chips. For the latest quarter, its handset chip business reported a 13% year-on-year revenue drop to $6 billion, which accounted for 57% of its revenue in the January to March quarter. Its Internet of Things business, which includes PC chips, recorded a 9% sales jump on the year to $1.7 billion. By fiscal year 2029, however, the company expects handsets to account for only a third of revenue with data center products on par with smartphone chips.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 18:00
https://www.zerohedge.com/markets/qualcomm-design-china-specific-data-center-chip-compliance-us-export-curbs
Qualcomm To Design China-Specific Data Center Chip In Compliance With US Export Curbs
Qualcomm unveiled its data center chip lineup on Wednesday, becoming the latest chipmaker to enter the AI processor race in an attempt to challenge market leader Nvidia. CEO Cristiano https://asia.nikkei.com/business/technology/artificial-intelligence/qualcomm-to-design-china-specific-data-center-chip-in-line-with-us-export-curbsthe company is eyeing the China market for its data center products, including designing chips specifically for Chinese customers that are in compliance with U.S. export controls.
The mobile chip giant is revamping the design of data center processors, which is traditionally powered by graphic processing units (GPUs) and high bandwidth memory (HBM) chips.
Amon teased Dragonfly - a dedicated brand for AI data center solutions designed to break Nvidia's grip on AI infrastructure - at the Computex trade show in Taipei early this month.
The company unveiled more details about Dragonfly at its investor day in New York on Wednesday. Dragonfly encompasses four product lines: AI accelerators, data center CPUs, custom silicons and connectivity chips. Amon said Qualcomm is working to bring all four data center product lines to China, including customized AI accelerators for the Chinese market that will comply with US export controls limiting advanced AI chips sales above certain threshold.
"We have a big business in China, and I think as we started to diversify the company, our partnership with China and our China customers also expanded," said Amon, adding the relationship with Chinese smartphone makers and auto companies is also going to be "a strength that we're going to bring on the data center side. " However, "there are very clear guidelines about how you can ship products to China, and we have versions of all of our products that comply with those guidelines, " he said. "We are engaged in conversations and are positively optimistic about the reaction we're getting."
Qualcomm's data center processor features a design that differs from AI racks deployed in data centers. Dubbed high bandwidth compute (HBC), Qualcomm said the near-memory compute design will make its data center chips deliver six times the bandwidth per watt versus HBM-based solutions.
The data center compute market is dominated by AI racks powered by Nvidia's GPUs and HBM chips that are produced by South Korean companies SK Hynix and Samsung. Both Samsung and SK Hynix are also working on near-memory and on-memory compute as memory capacity becomes the latest AI deployment bottleneck.
Amon said the HBC will be different from the processing-in-memory (PIM) architecture other memory chipmakers are developing.
"This is a very unique technology that allows you to develop 3D-stacking of the DRAM alongside logic that is built for the accelerator," he said, adding that HBC significantly increases available memory, reduces bandwidth bottleneck and improves compute efficiency.
As the global memory chip crunch continues, Amon said they have secured enough memory for its data center products in fiscal year 2027 and the new HBC technology will also help ease the memory chip shortage.
"This technology is starting to get interest, we now have memory vendors, small and large ones, now engaging with Qualcomm and want to partner with Qualcomm on HBC," the CEO said.
In addition to better compute performance, Qualcomm said the HBC architecture also uses less energy and costs less to own. In video messages, Microsoft and Meta CEOs said the two companies' data centers will be early adopters of Qualcomm's data center chips including HBC and CPUs.
Qualcomm said the first HBC chip will ship with its AI250 data center rack in fiscal year 2027. The company told investors Wednesday the new data center products are expected to bring in $300 million in revenue in the current fiscal year, and $5 billion in fiscal year 2027, which starts in October. Qualcomm estimates the total addressable market for data center chips will be more than $1 trillion by 2029 and the company will take a more-than-5% share of that market.
At the Wednesday keynote, Amon said it is "never too late" for Qualcomm to enter the data center chip business because "this is a market that moves very, very fast. So, if you have technology leadership, there's always room for you."
In addition to AI accelerators powered by the new HBC design, Qualcomm also unveiled a CPU designed for data centers and AI inference, announcing the company has won "two major hyperscaler deals" for custom-designed data center chips that will bring in "meaningful revenue" by the end of the year.
Amon also touted a close partnership with the contract chipmaking giant TSMC that will give it a leg up in the data center chip race.
"As soon as TSMC finishes the mask, we go to production, and we go to production at scale. That's the maturity of our manufacturing capabilities," said Amon.
It is yet to be seen if Qualcomm can convince investors and customers alike to be a competitive alternative to Nvidia products.
"Current data center revenues remain de minimis and reliant on Qualcomm proving they are able to bring strong CPU [and] NPU performance from consumer devices to more complex data center workloads," Vivek Arya, analyst at Bank of America, said in a note Tuesday, adding that Qualcomm is entering a "fast-growing but hyper competitive AI market full of large incumbents."
NPU refers to neural processing units, hardware designed to perform AI computing tasks.
Ahead of an investor meeting Wednesday, Qualcomm announced the acquisition of chip software startup Modular Inc. in an all-stock deal valued at nearly $4 billion that will help Qualcomm compete with Nvidia's CUDA ecosystem.
In addition to its advanced AI processors, Nvidia's lead in the data center market is solidified by the CUDA computing platform that makes its AI chips more efficient and easier to program.
On Wednesday, Nvidia CEO Jensen Huang told the annual shareholders meeting that while his company's systems "may not be the cheapest to produce, to purchase, but Nvidia generates the lowest cost tokens, the highest token throughput and the most revenues. "
Bloomberg reported last month that Qualcomm had struck a deal with ByteDance to supply the Chinese tech giant with custom AI data center chips. The deal is structured to fall within existing U.S. export control thresholds, a design choice that signals Qualcomm's intent to capture Chinese AI demand without irritating the White House.
The U.S. chip giant will likely face similar regulatory scrutiny as Nvidia and others over China exports.
The Trump administration unveiled new guidelines for the export of powerful AI chips to Chinese entities outside of China in June. The U.S. Department of Commerce said it will implement license requirements for Chinese companies headquartered in China, even if they are physically located outside the country.
China accounted for 46% of Qualcomm's revenue in 2025, mostly from smartphone chips. Qualcomm's CEO was part of a high-profile business delegation that accompanied Trump when he visited President Xi Jinping in China this May. Amon said Wednesday the company's presence at the leaders summit is an example of what a "win-win" relationship between the two countries looks like.
Amon said the epicenter of AI agent development is in China, with new agentic use cases emerging across platforms from smartphones and glasses to cars.
"Actually, when I talk about China, I am in a situation right now that I don't know who the mobile customers are anymore, because there are OEMs, but every single AI foundational model company building agents also are customers," he said.
Meanwhile, Qualcomm announced a deal with Saudi Arabian AI company Humain, which has committed to deploying 200 megawatts of Qualcomm accelerator racks, beginning this year.
The world's leading mobile chip developer, Qualcomm, has long been a leader in premium chips for flagship smartphones such as Samsung Electronics and Xiaomi, and has gradually expanded into the PC market. It announced its first chip for budget PCs at Computex in Taipei earlier this month.
Qualcomm still generates most of its revenue from mobile chips. For the latest quarter, its handset chip business reported a 13% year-on-year revenue drop to $6 billion, which accounted for 57% of its revenue in the January to March quarter. Its Internet of Things business, which includes PC chips, recorded a 9% sales jump on the year to $1.7 billion. By fiscal year 2029, however, the company expects handsets to account for only a third of revenue with data center products on par with smartphone chips.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 18:00
https://www.zerohedge.com/markets/qualcomm-design-china-specific-data-center-chip-compliance-us-export-curbs
Adani Targets 10 GW Nuclear Power Capacity In India By 2035
Adani Targets 10 GW Nuclear Power Capacity In India By 2035
By Tsvetana Paraskova of https://oilprice.com/Latest-Energy-News/World-News/Adani-Targets-10-GW-Nuclear-Power-Capacity-in-India-by-2035.html
Adani Group, the conglomerate of Indian billionaire Gautam Adani, could become India’s biggest private nuclear power capacity developer within a decade, targeting 10 gigawatts (GW) by 2035, as India opened its civil nuclear power sector to private investment.
“Our entry into nuclear energy through Adani Atomic Energy is another confident step towards securing India's long-term energy future,” Gautam Adani https://www.ndtv.com/india-news/read-full-text-of-gautam-adanis-speech-at-adani-agm-2026-11679537 at the annual general meeting of Adani Group on Wednesday.
“With land identified and a 10 GW targeted capacity by 2035, we are positioning ourselves early to serve the growing national demand for clean, round-the-clock power,” the billionaire said.
A panel set up by India’s power ministry has said in a https://cea.nic.in/wp-content/uploads/notification/2025/10/Roadmap_Final_30062025.pdf that India’s goal to boost its installed nuclear power capacity to 100 gigawatts by 2047, up from just 8.8 GW now, would require as much as 19.28 trillion Indian rupees, or $204 billion at current exchange rates, of cumulative capital.
The Indian government https://www.pib.gov.in/PressReleasePage.aspx?PRID=2205124®=3&lang=2 that its Nuclear Energy Mission targets 100 GW capacity by 2047 “through deployment of existing and emerging advanced nuclear technologies, both indigenous & with foreign cooperation.”
Adani Group is reportedly in talks with the state government of India’s northern Uttar Pradesh state on a https://oilprice.com/Latest-Energy-News/World-News/Adani-Explores-Nuclear-Power-Foray-With-16-GW-Small-Reactor-Project.html to build small modular reactors (SMRs) as India opens its nuclear energy sector to private investment.
Adani is in discussions with Uttar Pradesh officials to build eight SMRs with capacity of 200 megawatts (MW) each at yet-to-be-identified sites in the state, anonymous sources with knowledge of the matter told https://www.bloomberg.com/news/articles/2025-12-19/adani-plans-nuclear-energy-foray-as-india-allows-private-firms?srnd=phx-industries-energy at the end of 2025.
If the group meets its target to have 10 GW in nuclear capacity by 2035, it would become India’s third-largest operator of nuclear power capacity behind state-run Nuclear Power Corporation of India Limited (NPCIL) and state coal giant NTPC Limited. NPCIL currently operates all of India’s 8 GW of nuclear power capacity.
Indian conglomerate Reliance Industries of another billionaire, Mukesh Ambani, is https://economictimes.indiatimes.com/industry/energy/power/ril-ntpc-adani-and-lalitpur-line-up-rs-6-5-l-cr-for-nuclear-energy/articleshow/131210342.cms?from=mdr investments in India’s nuclear power sector after the opening to private capital.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 17:40
https://www.zerohedge.com/energy/adani-targets-10-gw-nuclear-power-capacity-india-2035
Adani Targets 10 GW Nuclear Power Capacity In India By 2035
By Tsvetana Paraskova of https://oilprice.com/Latest-Energy-News/World-News/Adani-Targets-10-GW-Nuclear-Power-Capacity-in-India-by-2035.html
Adani Group, the conglomerate of Indian billionaire Gautam Adani, could become India’s biggest private nuclear power capacity developer within a decade, targeting 10 gigawatts (GW) by 2035, as India opened its civil nuclear power sector to private investment.
“Our entry into nuclear energy through Adani Atomic Energy is another confident step towards securing India's long-term energy future,” Gautam Adani https://www.ndtv.com/india-news/read-full-text-of-gautam-adanis-speech-at-adani-agm-2026-11679537 at the annual general meeting of Adani Group on Wednesday.
“With land identified and a 10 GW targeted capacity by 2035, we are positioning ourselves early to serve the growing national demand for clean, round-the-clock power,” the billionaire said.
A panel set up by India’s power ministry has said in a https://cea.nic.in/wp-content/uploads/notification/2025/10/Roadmap_Final_30062025.pdf that India’s goal to boost its installed nuclear power capacity to 100 gigawatts by 2047, up from just 8.8 GW now, would require as much as 19.28 trillion Indian rupees, or $204 billion at current exchange rates, of cumulative capital.
The Indian government https://www.pib.gov.in/PressReleasePage.aspx?PRID=2205124®=3&lang=2 that its Nuclear Energy Mission targets 100 GW capacity by 2047 “through deployment of existing and emerging advanced nuclear technologies, both indigenous & with foreign cooperation.”
Adani Group is reportedly in talks with the state government of India’s northern Uttar Pradesh state on a https://oilprice.com/Latest-Energy-News/World-News/Adani-Explores-Nuclear-Power-Foray-With-16-GW-Small-Reactor-Project.html to build small modular reactors (SMRs) as India opens its nuclear energy sector to private investment.
Adani is in discussions with Uttar Pradesh officials to build eight SMRs with capacity of 200 megawatts (MW) each at yet-to-be-identified sites in the state, anonymous sources with knowledge of the matter told https://www.bloomberg.com/news/articles/2025-12-19/adani-plans-nuclear-energy-foray-as-india-allows-private-firms?srnd=phx-industries-energy at the end of 2025.
If the group meets its target to have 10 GW in nuclear capacity by 2035, it would become India’s third-largest operator of nuclear power capacity behind state-run Nuclear Power Corporation of India Limited (NPCIL) and state coal giant NTPC Limited. NPCIL currently operates all of India’s 8 GW of nuclear power capacity.
Indian conglomerate Reliance Industries of another billionaire, Mukesh Ambani, is https://economictimes.indiatimes.com/industry/energy/power/ril-ntpc-adani-and-lalitpur-line-up-rs-6-5-l-cr-for-nuclear-energy/articleshow/131210342.cms?from=mdr investments in India’s nuclear power sector after the opening to private capital.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 17:40
https://www.zerohedge.com/energy/adani-targets-10-gw-nuclear-power-capacity-india-2035
Federal Judge Blocks Trump Admin's Mail-In Voting Restrictions, National Voter Database For Midterms
Federal Judge Blocks Trump Admin's Mail-In Voting Restrictions, National Voter Database For Midterms
A federal judge in Boston has blocked key parts of President Donald Trump’s March executive order that sought to impose new limits on mail-in voting and create a nationwide list of eligible voters using federal citizenship data. The ruling, issued June 25 by Obama-appointed U.S. District Judge Indira Talwani, prevents the administration from enforcing the directives for the November midterms in the two dozen Democratic-led states and jurisdictions that challenged the order.
Talwani found that no federal law authorizes the government to build the type of voter database outlined in the order or to use the threat of criminal prosecution to pressure state and local election officials into using it. The March order directed the Department of Homeland Security and Social Security Administration to compile a national list of potentially eligible voters based on citizenship information and share it with states. It also called for new design standards for mail ballot envelopes and directed the U.S. Postal Service to create its own list of voters eligible to receive mail ballots.
The judge wrote that there was no US law that authorized the federal government to create the type of voter databases Trump had called for and to use the threat of criminal prosecution to “intimidate” state and local officials into using those lists. -Bloomberg
The decision - which came https://thehill.com/homenews/administration/5939636-trump-postal-service-voter-data/?email=c14f3288a64818ecb98f8e0573beceb318faed57&emaila=eb3b115abed24cacb59032280aed3dee&emailb=67a847116066088d41479c6f1dae9ff2f033f69b05a6b0ce26810fdcc2c7acc9&utm_source=Sailthru&utm_medium=email&utm_campaign=06.25.26%20CD%20Postmaster%20general after Postmaster General David Steiner told lawmakers that the USPS will no longer deliver mail-in ballots in states that refuse to provide voter data - adds to the legal obstacles facing the administration’s election-related initiatives as officials race to implement changes before the midterms. Challengers argued the order represented an improper federal intrusion into state-run elections and risked disrupting preparations and disenfranchising eligible voters. The administration has maintained that the steps are needed to strengthen election integrity and address concerns about fraud.
The U.S. Postal Service has been developing a proposed rule, required under the same March executive order, that would condition delivery of mail ballots on states providing lists of eligible absentee voters to the federal government. Steiner described the measure as a way to ensure ballots reach only eligible voters. Democratic lawmakers criticized the proposal as an overreach into state election authority. The rule is undergoing public comment and faces its own legal challenges.
Trump, meanwhile, has also pushed Republican lawmakers to pass legislation containing proof-of-citizenship and other voting restrictions, including the SAVE Act. During a https://www.zerohedge.com/markets/trump-cancels-housing-bill-signing-cbdc-ban-demands-action-save-act-first June 24 meeting with Senate Republicans, he declined to sign a bipartisan housing bill until Congress advances the voting measures. The closed-door session highlighted tensions within the party, though Republican leaders emphasized the need for unity ahead of the midterms. Trump and his allies argue that stronger verification requirements are essential to maintain public confidence in elections.
The order comes one day after another Obama-appointed federal judge in Boston https://abcnews.com/Politics/judge-permanently-blocks-trump-eo-requiring-proof-citizenship/story?id=134175354 key portions of President Donald Trump’s executive order overhauling federal election procedures, ruling that the president exceeded his constitutional authority by attempting to impose new voting requirements without congressional approval.
U.S. District Judge Denise Casper concluded that the Constitution gives primary authority over elections to the states and Congress, not the executive branch. The ruling makes permanent a preliminary injunction Casper issued last year in a lawsuit filed by Democratic attorneys general from 19 states.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 17:20
https://www.zerohedge.com/political/federal-judge-blocks-trump-administrations-mail-voting-restrictions-national-voter
Federal Judge Blocks Trump Admin's Mail-In Voting Restrictions, National Voter Database For Midterms
A federal judge in Boston has blocked key parts of President Donald Trump’s March executive order that sought to impose new limits on mail-in voting and create a nationwide list of eligible voters using federal citizenship data. The ruling, issued June 25 by Obama-appointed U.S. District Judge Indira Talwani, prevents the administration from enforcing the directives for the November midterms in the two dozen Democratic-led states and jurisdictions that challenged the order.
Talwani found that no federal law authorizes the government to build the type of voter database outlined in the order or to use the threat of criminal prosecution to pressure state and local election officials into using it. The March order directed the Department of Homeland Security and Social Security Administration to compile a national list of potentially eligible voters based on citizenship information and share it with states. It also called for new design standards for mail ballot envelopes and directed the U.S. Postal Service to create its own list of voters eligible to receive mail ballots.
The judge wrote that there was no US law that authorized the federal government to create the type of voter databases Trump had called for and to use the threat of criminal prosecution to “intimidate” state and local officials into using those lists. -Bloomberg
The decision - which came https://thehill.com/homenews/administration/5939636-trump-postal-service-voter-data/?email=c14f3288a64818ecb98f8e0573beceb318faed57&emaila=eb3b115abed24cacb59032280aed3dee&emailb=67a847116066088d41479c6f1dae9ff2f033f69b05a6b0ce26810fdcc2c7acc9&utm_source=Sailthru&utm_medium=email&utm_campaign=06.25.26%20CD%20Postmaster%20general after Postmaster General David Steiner told lawmakers that the USPS will no longer deliver mail-in ballots in states that refuse to provide voter data - adds to the legal obstacles facing the administration’s election-related initiatives as officials race to implement changes before the midterms. Challengers argued the order represented an improper federal intrusion into state-run elections and risked disrupting preparations and disenfranchising eligible voters. The administration has maintained that the steps are needed to strengthen election integrity and address concerns about fraud.
The U.S. Postal Service has been developing a proposed rule, required under the same March executive order, that would condition delivery of mail ballots on states providing lists of eligible absentee voters to the federal government. Steiner described the measure as a way to ensure ballots reach only eligible voters. Democratic lawmakers criticized the proposal as an overreach into state election authority. The rule is undergoing public comment and faces its own legal challenges.
Trump, meanwhile, has also pushed Republican lawmakers to pass legislation containing proof-of-citizenship and other voting restrictions, including the SAVE Act. During a https://www.zerohedge.com/markets/trump-cancels-housing-bill-signing-cbdc-ban-demands-action-save-act-first June 24 meeting with Senate Republicans, he declined to sign a bipartisan housing bill until Congress advances the voting measures. The closed-door session highlighted tensions within the party, though Republican leaders emphasized the need for unity ahead of the midterms. Trump and his allies argue that stronger verification requirements are essential to maintain public confidence in elections.
The order comes one day after another Obama-appointed federal judge in Boston https://abcnews.com/Politics/judge-permanently-blocks-trump-eo-requiring-proof-citizenship/story?id=134175354 key portions of President Donald Trump’s executive order overhauling federal election procedures, ruling that the president exceeded his constitutional authority by attempting to impose new voting requirements without congressional approval.
U.S. District Judge Denise Casper concluded that the Constitution gives primary authority over elections to the states and Congress, not the executive branch. The ruling makes permanent a preliminary injunction Casper issued last year in a lawsuit filed by Democratic attorneys general from 19 states.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 17:20
https://www.zerohedge.com/political/federal-judge-blocks-trump-administrations-mail-voting-restrictions-national-voter
Hegseth Hails First Test Of America's 'Golden Dome' Missile Defense Shield
Hegseth Hails First Test Of America's 'Golden Dome' Missile Defense Shield
https://www.theepochtimes.com/us/hegseth-hails-first-test-of-americas-golden-dome-missile-defense-shield-6052543?utm_source=partner&utm_campaign=ZeroHedge
The Pentagon has carried out the first milestone test of the Golden Dome for America missile defense program, and Secretary of War Pete Hegseth announced on June 23 that an autonomous targeting system and directed-energy technology successfully intercepted a series of simulated incoming threats.
Declaring the test a “full mission success,” Hegseth said in a statement on social media that the system detected, tracked, targeted, and destroyed multiple drone and cruise missile threats, marking a watershed moment for President Donald Trump’s https://www.theepochtimes.com/us/design-selected-for-golden-dome-missile-defense-plan-trump-announces-5860756 homeland missile defense shield.
“President Trump is making President [Ronald] Reagan’s Strategic Defense Initiative (SDI) vision a reality,” Hegseth said. “With Golden Dome, the War Department will defend our homeland more powerfully than ever before. Golden Dome is real, powerful, and on track.”
Hegseth said the demonstration showcased next-generation military technologies and represented a major step toward building what the administration has https://www.theepochtimes.com/us/department-of-war-gives-update-on-progress-of-golden-dome-for-america-6016597 as a multilayered shield against ballistic missiles, cruise missiles, hypersonic weapons, and drones.
“Golden Dome is the decisive response to a new era of threats,” Gen. Mike Guetlein, director of the Golden Dome for America program, said in an April update on the system.
“We are moving with purpose and urgency to forge a shield that is layered, integrated, and automated.”
The test comes about a month after Trump https://www.theepochtimes.com/us/design-selected-for-golden-dome-missile-defense-plan-trump-announces-5860756 that the Department of War had selected a final architecture for the Golden Dome.
“It should be fully operational before the end of my term,” Trump said on May 20 at the White House, describing the $175 billion program as a “state-of-the-art” system that includes space-based sensors and interceptors.
“Once fully constructed, the Golden Dome will be capable of intercepting missiles even if they are launched from other sides of the world, and even if they’re launched from space. And we will have the best system ever built.”
Speaking alongside Trump during the Oval Office announcement in May, Hegseth said that there were a number of parallels between the Golden Dome system and the Strategic Defense Initiative put forward by President Ronald Reagan in the 1980s, sometimes referred to as “Star Wars.”
“President Reagan, 40 years ago, cast the vision for it. The technology wasn’t there. Now it is, and you’re following through,” Hegseth told Trump.
During his first week back in office for a second term, Trump signed an executive order directing the Pentagon to develop a comprehensive missile defense plan, initially under the moniker “Iron Dome for America.”
Trump’s order called for expanded use of space-based sensors and interceptors while also directing the Pentagon to develop and deploy nonkinetic technologies such as directed-energy systems, including lasers.
“The threat of attack by ballistic, hypersonic, and cruise missiles, and other advanced aerial attacks, remains the most catastrophic threat facing the United States,” Trump wrote in the order, lauding the Reagan-era vision for a nationwide missile defense shield and the technological advances it brought about—while noting that Reagan’s program “was canceled before its goal could be realized.”
The June 23 test appeared to demonstrate some of the capabilities outlined in Trump’s order. Hegseth highlighted the use of directed-energy technology and an autonomous targeting system known as the dynamic defense autonomous defeat system to eliminate “a multitude of incoming threats.”
“This test was executed on schedule—and dynamically defeated every threat,” he said.
Trump has said Canada is interested in taking part in the Golden Dome initiative as part of broader efforts to bolster North American missile defenses.
“Canada wants to be a part of it,” Trump https://www.theepochtimes.com/us/design-selected-for-golden-dome-missile-defense-plan-trump-announces-5860756 during the May announcement. “We'll work with them on pricing.”
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 17:00
https://www.zerohedge.com/military/hegseth-hails-first-test-americas-golden-dome-missile-defense-shield
Hegseth Hails First Test Of America's 'Golden Dome' Missile Defense Shield
https://www.theepochtimes.com/us/hegseth-hails-first-test-of-americas-golden-dome-missile-defense-shield-6052543?utm_source=partner&utm_campaign=ZeroHedge
The Pentagon has carried out the first milestone test of the Golden Dome for America missile defense program, and Secretary of War Pete Hegseth announced on June 23 that an autonomous targeting system and directed-energy technology successfully intercepted a series of simulated incoming threats.
Declaring the test a “full mission success,” Hegseth said in a statement on social media that the system detected, tracked, targeted, and destroyed multiple drone and cruise missile threats, marking a watershed moment for President Donald Trump’s https://www.theepochtimes.com/us/design-selected-for-golden-dome-missile-defense-plan-trump-announces-5860756 homeland missile defense shield.
“President Trump is making President [Ronald] Reagan’s Strategic Defense Initiative (SDI) vision a reality,” Hegseth said. “With Golden Dome, the War Department will defend our homeland more powerfully than ever before. Golden Dome is real, powerful, and on track.”
Hegseth said the demonstration showcased next-generation military technologies and represented a major step toward building what the administration has https://www.theepochtimes.com/us/department-of-war-gives-update-on-progress-of-golden-dome-for-america-6016597 as a multilayered shield against ballistic missiles, cruise missiles, hypersonic weapons, and drones.
“Golden Dome is the decisive response to a new era of threats,” Gen. Mike Guetlein, director of the Golden Dome for America program, said in an April update on the system.
“We are moving with purpose and urgency to forge a shield that is layered, integrated, and automated.”
The test comes about a month after Trump https://www.theepochtimes.com/us/design-selected-for-golden-dome-missile-defense-plan-trump-announces-5860756 that the Department of War had selected a final architecture for the Golden Dome.
“It should be fully operational before the end of my term,” Trump said on May 20 at the White House, describing the $175 billion program as a “state-of-the-art” system that includes space-based sensors and interceptors.
“Once fully constructed, the Golden Dome will be capable of intercepting missiles even if they are launched from other sides of the world, and even if they’re launched from space. And we will have the best system ever built.”
Speaking alongside Trump during the Oval Office announcement in May, Hegseth said that there were a number of parallels between the Golden Dome system and the Strategic Defense Initiative put forward by President Ronald Reagan in the 1980s, sometimes referred to as “Star Wars.”
“President Reagan, 40 years ago, cast the vision for it. The technology wasn’t there. Now it is, and you’re following through,” Hegseth told Trump.
During his first week back in office for a second term, Trump signed an executive order directing the Pentagon to develop a comprehensive missile defense plan, initially under the moniker “Iron Dome for America.”
Trump’s order called for expanded use of space-based sensors and interceptors while also directing the Pentagon to develop and deploy nonkinetic technologies such as directed-energy systems, including lasers.
“The threat of attack by ballistic, hypersonic, and cruise missiles, and other advanced aerial attacks, remains the most catastrophic threat facing the United States,” Trump wrote in the order, lauding the Reagan-era vision for a nationwide missile defense shield and the technological advances it brought about—while noting that Reagan’s program “was canceled before its goal could be realized.”
The June 23 test appeared to demonstrate some of the capabilities outlined in Trump’s order. Hegseth highlighted the use of directed-energy technology and an autonomous targeting system known as the dynamic defense autonomous defeat system to eliminate “a multitude of incoming threats.”
“This test was executed on schedule—and dynamically defeated every threat,” he said.
Trump has said Canada is interested in taking part in the Golden Dome initiative as part of broader efforts to bolster North American missile defenses.
“Canada wants to be a part of it,” Trump https://www.theepochtimes.com/us/design-selected-for-golden-dome-missile-defense-plan-trump-announces-5860756 during the May announcement. “We'll work with them on pricing.”
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 17:00
https://www.zerohedge.com/military/hegseth-hails-first-test-americas-golden-dome-missile-defense-shield
Mayor Blames "Slavery" As Chicago Wrestles With Deadly Crime Spree
Mayor Blames "Slavery" As Chicago Wrestles With Deadly Crime Spree
The city of Chicago, long run by Democrats, has an infamous black crime problem. Over the course https://wgntv.com/news/chicagocrime/chicago-mayor-considers-new-department-to-tackle-gun-violence/ around 47 people were shot and 8 people killed, with a 105% increase in violent crime compared to 2025. On "Juneteenth", a drive-by mass shooting in Princeton Park injured at least 12–14 people with over 100 shell casings recovered.
The situation is so bad that many black commentators are starting to speak out, demanding to know why black Americans can't seem to stop killing each other.
Stephen A. Smith: "Every time we turn around, there's something going on in Chicago. And the vast majority of victims happen to be black. When we gon' speak about that? Same energy, y'all."https://t.co/oeb0mKDLmN
Honestly I kinda like that common sense is making a comeback.…
— Defiant L’s (@DefiantLs) https://x.com/DefiantLs/status/2069610083064172946?ref_src=twsrc%5Etfw
All the evidence, all the data, suggests that Father's Day weekend violence in the black community is so egregious exactly because there are almost no fathers. In Chicago, 80% of all black births are to single mothers and 72% of black children live in single parent households, compared to a national average of 25% across all ethnic groups. Approximately 70% of all juveniles facing incarceration come from single parent households.
Coupled with an overall culture that idolizes violence and lacks basic impulse control learned from proper parenting, the source of the problem is clear. Democrats, however, have a different theory.
In a press conference addressing Chicago's national embarrassment, Democrat Mayor Brandon Johnson diverted the discussion into his own personal pet project on reparations. He argues that the "history of slavery" in the US is the source of income inequality; insinuating that income inequality is the root cause of violent crime in the black community. In other words, black-on-black crime is somehow all white people's fault.
40+ shot over the weekend in Chicago and Mayor Johnson is talking about … "slavery continuing to harm Chicago" https://t.co/0qEQ2qyRGy
— End Wokeness (@EndWokeness) https://x.com/EndWokeness/status/2069481927178862879?ref_src=twsrc%5Etfw
🚨 Chicago Mayor Brandon Johnson is easily the dumbest mayor in America — and he still got elected by people even dumber than him.
Good grief. 🤦♀️
This clown isn’t even a basic history buff: praising Johnson while bashing Nixon?
Meanwhile, 40 shot and 8 killed in Chicago over… https://t.co/xmPy2l3cro
— GRANDPA’s FREE ADVICE (@GOP_is_Gutless) https://x.com/GOP_is_Gutless/status/2069392321330790545?ref_src=twsrc%5Etfw
The running theme among minority groups (and liberals in general) in the US is a complete lack of accountability for their own actions. Because slavery or segregation existed in the past, people who have never experienced either of these things believe they have a scapegoat for all the problems within their culture. It doesn't work that way.
The Chicago Mayor asserts that government handouts or reparations will solve the black crime issue, but the black community had much lower crime rates in the 1940s-1950s before welfare became ubiquitous and during segregation. In the 1960s when segregation was ended and President Johnson introduced his "Great Society" programs, crime among blacks skyrocketed. Clearly, something happened and it wasn't slavery or segregation.
Mayor Johnson has refused to counter criminal activity, blocking motions to enforce curfews for minors who now engage in "teen takeovers" or flash mobs that hijack city streets and consistently end in looting, property damage and shootings. City officials are asking the teens what they think should be done, and of course, they think less restrictions are the answer.
Chicago City Council just hosted "teens" for advice about "teen takeovers" and crime.
Their solution? Less restrictions. https://t.co/o3zOUx7rC1
— End Wokeness (@EndWokeness) https://x.com/EndWokeness/status/2069918897885626834?ref_src=twsrc%5Etfw
It is typical of progressive leaders and fatherless cultures to suggest more unfettered freedom is the magic salve to end crime among young people, when the opposite is what's called for. Clearly black households in Chicago lack basic parenting restrictions that usually keep underdeveloped teen brains in check. The only answer, then, is for the city to act as the parent, enforcing curfews and other measures until the deeper problem can be fixed.
🚨WHAT ON EARTH?!!!!
Hundreds of cars were vandalized in Chicago after police broke up a "teen takeover" and kids began fleeing by JUMPING ON CARS AND SMASHING WINDSHIELDS!!!
WHERE ARE THE PARENTS OF THESE KIDS???!!!!!!!
THIS HAS GOT TO STOP!!!!!! https://t.co/n59199CtGL
— Matt Van Swol (@mattvanswol) https://x.com/mattvanswol/status/2058914762075852807?ref_src=twsrc%5Etfw
Instead, progressive officials turn to irrational teens for advice on what to do while blaming "white supremacy" as the culprit behind everything wrong in their lives. There is no fixing Chicago - Not without a radical change in leadership and some tough love for black communities.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 16:40
https://www.zerohedge.com/political/mayor-blames-slavery-chicago-wrestles-deadly-crime-spree
Mayor Blames "Slavery" As Chicago Wrestles With Deadly Crime Spree
The city of Chicago, long run by Democrats, has an infamous black crime problem. Over the course https://wgntv.com/news/chicagocrime/chicago-mayor-considers-new-department-to-tackle-gun-violence/ around 47 people were shot and 8 people killed, with a 105% increase in violent crime compared to 2025. On "Juneteenth", a drive-by mass shooting in Princeton Park injured at least 12–14 people with over 100 shell casings recovered.
The situation is so bad that many black commentators are starting to speak out, demanding to know why black Americans can't seem to stop killing each other.
Stephen A. Smith: "Every time we turn around, there's something going on in Chicago. And the vast majority of victims happen to be black. When we gon' speak about that? Same energy, y'all."https://t.co/oeb0mKDLmN
Honestly I kinda like that common sense is making a comeback.…
— Defiant L’s (@DefiantLs) https://x.com/DefiantLs/status/2069610083064172946?ref_src=twsrc%5Etfw
All the evidence, all the data, suggests that Father's Day weekend violence in the black community is so egregious exactly because there are almost no fathers. In Chicago, 80% of all black births are to single mothers and 72% of black children live in single parent households, compared to a national average of 25% across all ethnic groups. Approximately 70% of all juveniles facing incarceration come from single parent households.
Coupled with an overall culture that idolizes violence and lacks basic impulse control learned from proper parenting, the source of the problem is clear. Democrats, however, have a different theory.
In a press conference addressing Chicago's national embarrassment, Democrat Mayor Brandon Johnson diverted the discussion into his own personal pet project on reparations. He argues that the "history of slavery" in the US is the source of income inequality; insinuating that income inequality is the root cause of violent crime in the black community. In other words, black-on-black crime is somehow all white people's fault.
40+ shot over the weekend in Chicago and Mayor Johnson is talking about … "slavery continuing to harm Chicago" https://t.co/0qEQ2qyRGy
— End Wokeness (@EndWokeness) https://x.com/EndWokeness/status/2069481927178862879?ref_src=twsrc%5Etfw
🚨 Chicago Mayor Brandon Johnson is easily the dumbest mayor in America — and he still got elected by people even dumber than him.
Good grief. 🤦♀️
This clown isn’t even a basic history buff: praising Johnson while bashing Nixon?
Meanwhile, 40 shot and 8 killed in Chicago over… https://t.co/xmPy2l3cro
— GRANDPA’s FREE ADVICE (@GOP_is_Gutless) https://x.com/GOP_is_Gutless/status/2069392321330790545?ref_src=twsrc%5Etfw
The running theme among minority groups (and liberals in general) in the US is a complete lack of accountability for their own actions. Because slavery or segregation existed in the past, people who have never experienced either of these things believe they have a scapegoat for all the problems within their culture. It doesn't work that way.
The Chicago Mayor asserts that government handouts or reparations will solve the black crime issue, but the black community had much lower crime rates in the 1940s-1950s before welfare became ubiquitous and during segregation. In the 1960s when segregation was ended and President Johnson introduced his "Great Society" programs, crime among blacks skyrocketed. Clearly, something happened and it wasn't slavery or segregation.
Mayor Johnson has refused to counter criminal activity, blocking motions to enforce curfews for minors who now engage in "teen takeovers" or flash mobs that hijack city streets and consistently end in looting, property damage and shootings. City officials are asking the teens what they think should be done, and of course, they think less restrictions are the answer.
Chicago City Council just hosted "teens" for advice about "teen takeovers" and crime.
Their solution? Less restrictions. https://t.co/o3zOUx7rC1
— End Wokeness (@EndWokeness) https://x.com/EndWokeness/status/2069918897885626834?ref_src=twsrc%5Etfw
It is typical of progressive leaders and fatherless cultures to suggest more unfettered freedom is the magic salve to end crime among young people, when the opposite is what's called for. Clearly black households in Chicago lack basic parenting restrictions that usually keep underdeveloped teen brains in check. The only answer, then, is for the city to act as the parent, enforcing curfews and other measures until the deeper problem can be fixed.
🚨WHAT ON EARTH?!!!!
Hundreds of cars were vandalized in Chicago after police broke up a "teen takeover" and kids began fleeing by JUMPING ON CARS AND SMASHING WINDSHIELDS!!!
WHERE ARE THE PARENTS OF THESE KIDS???!!!!!!!
THIS HAS GOT TO STOP!!!!!! https://t.co/n59199CtGL
— Matt Van Swol (@mattvanswol) https://x.com/mattvanswol/status/2058914762075852807?ref_src=twsrc%5Etfw
Instead, progressive officials turn to irrational teens for advice on what to do while blaming "white supremacy" as the culprit behind everything wrong in their lives. There is no fixing Chicago - Not without a radical change in leadership and some tough love for black communities.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 16:40
https://www.zerohedge.com/political/mayor-blames-slavery-chicago-wrestles-deadly-crime-spree
Generational Crisis! Nearly A Third Of US Adults Under 35 Are Still Living With Their Parents
Generational Crisis! Nearly A Third Of US Adults Under 35 Are Still Living With Their Parents
https://theeconomiccollapseblog.com/generational-crisis-nearly-a-third-of-u-s-adults-under-the-age-of-35-are-still-living-with-their-parents/
Americans that are over the age of 55 control https://smartasset.com/financial-advisor/wealth-by-generation of all wealth in the United States.
Americans that are age 55 or younger control just 27 percent of all wealth in the United States.
Never before in history has there been a generational divide of this magnitude.
One of the reasons why there is such a generational divide is because housing has become so insanely unaffordable. If you purchased a home 20 or 30 years ago, it has appreciated in value a great deal and you are sitting pretty. But many young adults today look at current housing prices and wonder how they will ever be able to buy a home.
During the pandemic, we witnessed a surge of young adults moving back in with their parents.
But once the pandemic was over, things were supposed to go back to normal.
Unfortunately, that never happened.
In fact, the percentage of young adults that are living with their parents is now higher than it was https://www.realtor.com/news/trends/young-adults-living-with-parents-employed-housing-costs/…
A record 25.2 million adults under 35 lived with their parents in 2025, according to new research from Realtor.com®. That’s nearly 1 in 3 young adults and higher than even the pandemic-era count—but the more surprising finding is just how many of them were working.
“Roughly 70% of 25- to 34-year-olds living with parents are employed,” says Hannah Jones, senior economist at Realtor.com and author of the report. “That share held steady even as the overall co-residence rate has climbed—meaning the growth is coming from working adults, not people waiting to find jobs.”
The finding challenges one of the most persistent narratives about adults living at home today: that they’re simply languishing in a tepid job market and failing to launch.
We have tens of millions of young adults that cannot form their own households.
That is a major national crisis.
A lot of those young adults would love to move out and live on their own, but home prices https://www.foxbusiness.com/economy/income-needed-afford-median-priced-home-has-nearly-doubled-since-2020-report-finds…
The report said that the median prices for new and existing homes are both over $400,000 and that existing home prices have risen 54% since 2020 and are about 5-times the median income – a level well above the ratio of 3-times that prevailed in the 1990s.
Mortgage rates are over 6%, which makes the payment on a median-priced home $3,100 in the fourth quarter of 2025, up from $1,700 in early 2020. That has pushed the income needed to afford that payment to more than $120,000 – a significant increase from $66,000 in 2020.
In 1975, the median home price in the United States was under $40,000.
But now it is over $400,000.
That is how much the purchasing power of our money has declined.
And we are being warned that housing affordability is https://www.foxbusiness.com/economy/housing-affordability-unlikely-return-more-favorable-levels-past-economist-says…
The affordability of the U.S. housing market may not improve significantly over time for would-be homebuyers, with a new report suggesting that they shouldn’t wait in the hopes of affordability measures returning to their pre-2022 levels.
Sarah Wolfe, a senior economist and strategist at Morgan Stanley, said in a report that while housing affordability could improve modestly over time, it is “unlikely to return to more favorable levels of the past, as the market adjusts to a higher-cost, tighter-supply environment.”
That is quite sobering.
I guess our young adults are just out of luck.
At this stage, it is being projected that the median home price in this country https://www.foxbusiness.com/real-estate/median-us-home-price-projected-hit-1-million-2050-right-millennials-retire by 2050…
According to new projections from National Association of Realtors (NAR) chief economist Lawrence Yun, the national median home price is on track to hit $1 million by 2050 — just as millennials reach the traditional retirement age.
“Essentially, in about 25 years the national median home price will be a million dollars,” Yun said at a conference in Washington, D.C., on Tuesday. “It may be hard to envision that, but back in 1990, the national median price was $90,000.”
Many of those that are on the outside looking in may remain in that position permanently.
Meanwhile, the middle class continues to shrink as large employers eliminate good paying jobs all over the nation.
Today, we learned that U.S. factories are laying off workers https://www.cnbc.com/2026/06/23/factory-job-cuts-reported-around-financial-crisis-and-covid-levels-for-june-sp-says.html…
Job cuts at U.S. factories ran near their highest levels since the end of the global financial crisis in 2009 and the Covid-19 pandemic as worries grew over global demand and rising costs, S&P Global reported Tuesday.
Though the firm’s manufacturing index ran better than expected for June, it came largely from an inventory rebuild and despite sharp job cuts that were the most since 2009 — excluding the massive labor reductions at the onset of the Covid crisis in 2020.
And our most prominent tech companies continue to mercilessly slash payrolls.
For example, it is https://www.cnbc.com/2026/06/23/oracle-ai-job-cuts-layoffs-21000.html that Oracle has given the axe to 21,000 highly paid workers over the past year…
Oracle shed 21,000 jobs, almost 13% of its workforce, in the past year, as tech giants carry out sweeping layoffs as a result of AI.
The company’s total workforce stands at 141,000 full-time employees as of May 2026, it said in its annual regulatory filing on Monday. That’s down from 162,000 employees at the same time the previous year. This represents an almost 13% cut in its total workforce.
Almost every big tech company that you can name has laid off workers within the past 12 months.
Once upon a time Electronic Arts was doing really well, but now they are conducting https://kotaku.com/ea-layoffs-fan-care-recruitment-hyderabad-2000708971…
Electronic Arts has undergone yet another round of layoffs, seemingly impacting its recruitment, customer support, trust and safety, and IT teams.
Kotaku has learned about these layoffs both from sources aware of the situation as well as 12 separate public postings from individuals impacted by the layoffs. The total number of impacted employees is unknown, but Kotaku has found online postings both from people formerly in several remote roles in the U.S. as well as a number of laid-off individuals from EA’s office in Hyderabad, India. Multiple individuals laid off from the Hyderabad office had been with the company for more than ten years.
We are witnessing https://techcrunch.com/2026/06/22/the-running-list-major-tech-layoffs-in-2026-where-employers-cited-ai/ that seems to have no end.
Those were supposed to be the “jobs of the future” for our young people.
But now many of our young people are being ruthlessly replaced by AI.
An entire generation of Americans is deeply struggling, and that isn’t going to change any time soon.
Michael’s new book entitled https://www.amazon.com/dp/B0F4DN45KX is available https://www.amazon.com/dp/B0F4DN45KX and https://www.amazon.com/Prophetic-Events-That-Coming-Next-ebook/dp/B0F49DJ4YX on Amazon.com, and you can subscribe to his Substack newsletter at https://michaeltsnyder.substack.com/.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 16:20
https://www.zerohedge.com/personal-finance/generational-crisis-nearly-third-us-adults-under-35-are-still-living-their-parents
Generational Crisis! Nearly A Third Of US Adults Under 35 Are Still Living With Their Parents
https://theeconomiccollapseblog.com/generational-crisis-nearly-a-third-of-u-s-adults-under-the-age-of-35-are-still-living-with-their-parents/
Americans that are over the age of 55 control https://smartasset.com/financial-advisor/wealth-by-generation of all wealth in the United States.
Americans that are age 55 or younger control just 27 percent of all wealth in the United States.
Never before in history has there been a generational divide of this magnitude.
One of the reasons why there is such a generational divide is because housing has become so insanely unaffordable. If you purchased a home 20 or 30 years ago, it has appreciated in value a great deal and you are sitting pretty. But many young adults today look at current housing prices and wonder how they will ever be able to buy a home.
During the pandemic, we witnessed a surge of young adults moving back in with their parents.
But once the pandemic was over, things were supposed to go back to normal.
Unfortunately, that never happened.
In fact, the percentage of young adults that are living with their parents is now higher than it was https://www.realtor.com/news/trends/young-adults-living-with-parents-employed-housing-costs/…
A record 25.2 million adults under 35 lived with their parents in 2025, according to new research from Realtor.com®. That’s nearly 1 in 3 young adults and higher than even the pandemic-era count—but the more surprising finding is just how many of them were working.
“Roughly 70% of 25- to 34-year-olds living with parents are employed,” says Hannah Jones, senior economist at Realtor.com and author of the report. “That share held steady even as the overall co-residence rate has climbed—meaning the growth is coming from working adults, not people waiting to find jobs.”
The finding challenges one of the most persistent narratives about adults living at home today: that they’re simply languishing in a tepid job market and failing to launch.
We have tens of millions of young adults that cannot form their own households.
That is a major national crisis.
A lot of those young adults would love to move out and live on their own, but home prices https://www.foxbusiness.com/economy/income-needed-afford-median-priced-home-has-nearly-doubled-since-2020-report-finds…
The report said that the median prices for new and existing homes are both over $400,000 and that existing home prices have risen 54% since 2020 and are about 5-times the median income – a level well above the ratio of 3-times that prevailed in the 1990s.
Mortgage rates are over 6%, which makes the payment on a median-priced home $3,100 in the fourth quarter of 2025, up from $1,700 in early 2020. That has pushed the income needed to afford that payment to more than $120,000 – a significant increase from $66,000 in 2020.
In 1975, the median home price in the United States was under $40,000.
But now it is over $400,000.
That is how much the purchasing power of our money has declined.
And we are being warned that housing affordability is https://www.foxbusiness.com/economy/housing-affordability-unlikely-return-more-favorable-levels-past-economist-says…
The affordability of the U.S. housing market may not improve significantly over time for would-be homebuyers, with a new report suggesting that they shouldn’t wait in the hopes of affordability measures returning to their pre-2022 levels.
Sarah Wolfe, a senior economist and strategist at Morgan Stanley, said in a report that while housing affordability could improve modestly over time, it is “unlikely to return to more favorable levels of the past, as the market adjusts to a higher-cost, tighter-supply environment.”
That is quite sobering.
I guess our young adults are just out of luck.
At this stage, it is being projected that the median home price in this country https://www.foxbusiness.com/real-estate/median-us-home-price-projected-hit-1-million-2050-right-millennials-retire by 2050…
According to new projections from National Association of Realtors (NAR) chief economist Lawrence Yun, the national median home price is on track to hit $1 million by 2050 — just as millennials reach the traditional retirement age.
“Essentially, in about 25 years the national median home price will be a million dollars,” Yun said at a conference in Washington, D.C., on Tuesday. “It may be hard to envision that, but back in 1990, the national median price was $90,000.”
Many of those that are on the outside looking in may remain in that position permanently.
Meanwhile, the middle class continues to shrink as large employers eliminate good paying jobs all over the nation.
Today, we learned that U.S. factories are laying off workers https://www.cnbc.com/2026/06/23/factory-job-cuts-reported-around-financial-crisis-and-covid-levels-for-june-sp-says.html…
Job cuts at U.S. factories ran near their highest levels since the end of the global financial crisis in 2009 and the Covid-19 pandemic as worries grew over global demand and rising costs, S&P Global reported Tuesday.
Though the firm’s manufacturing index ran better than expected for June, it came largely from an inventory rebuild and despite sharp job cuts that were the most since 2009 — excluding the massive labor reductions at the onset of the Covid crisis in 2020.
And our most prominent tech companies continue to mercilessly slash payrolls.
For example, it is https://www.cnbc.com/2026/06/23/oracle-ai-job-cuts-layoffs-21000.html that Oracle has given the axe to 21,000 highly paid workers over the past year…
Oracle shed 21,000 jobs, almost 13% of its workforce, in the past year, as tech giants carry out sweeping layoffs as a result of AI.
The company’s total workforce stands at 141,000 full-time employees as of May 2026, it said in its annual regulatory filing on Monday. That’s down from 162,000 employees at the same time the previous year. This represents an almost 13% cut in its total workforce.
Almost every big tech company that you can name has laid off workers within the past 12 months.
Once upon a time Electronic Arts was doing really well, but now they are conducting https://kotaku.com/ea-layoffs-fan-care-recruitment-hyderabad-2000708971…
Electronic Arts has undergone yet another round of layoffs, seemingly impacting its recruitment, customer support, trust and safety, and IT teams.
Kotaku has learned about these layoffs both from sources aware of the situation as well as 12 separate public postings from individuals impacted by the layoffs. The total number of impacted employees is unknown, but Kotaku has found online postings both from people formerly in several remote roles in the U.S. as well as a number of laid-off individuals from EA’s office in Hyderabad, India. Multiple individuals laid off from the Hyderabad office had been with the company for more than ten years.
We are witnessing https://techcrunch.com/2026/06/22/the-running-list-major-tech-layoffs-in-2026-where-employers-cited-ai/ that seems to have no end.
Those were supposed to be the “jobs of the future” for our young people.
But now many of our young people are being ruthlessly replaced by AI.
An entire generation of Americans is deeply struggling, and that isn’t going to change any time soon.
Michael’s new book entitled https://www.amazon.com/dp/B0F4DN45KX is available https://www.amazon.com/dp/B0F4DN45KX and https://www.amazon.com/Prophetic-Events-That-Coming-Next-ebook/dp/B0F49DJ4YX on Amazon.com, and you can subscribe to his Substack newsletter at https://michaeltsnyder.substack.com/.
https://cms.zerohedge.com/users/tyler-durden
Thu, 06/25/2026 - 16:20
https://www.zerohedge.com/personal-finance/generational-crisis-nearly-third-us-adults-under-35-are-still-living-their-parents