CONSUMER TRENDS

The Negative Impact of Overconsumption on Thrift Culture 

Caitlin Sigler, ‘27

As the trend of buying excess quantities of fast fashion rises, we’ve seen an increase in thrifting culture within the Gen Z community—but is this for the better? The world of thrifting and the world of fast fashion used to remain relatively separate, but due to social media's recent ability to spread trends more rapidly, the two have become more interconnected than ever. This has made fashion much more accessible, as buying clothes you like is readily available at the click of a button. This quick turnaround time has popularized brands such as Depop, an app where you can buy previously owned clothes. Thrifting is often praised for its environmental advantages because it keeps old clothing in circulation, but it enables overbuying. Many like to forget that the environmentally friendly act of thrifting has downsides, as overbuying poses the threat of creating the same amount of pollution. As people eager to thrift go from store to store or even use various websites to seek out the perfect deal, they forget the impact this overconsumption has because they use the excuse that buying second hand cancels out all the negatives. Although a better alternative to buying clothes straight off the rack, one must consider the various complexities that thrifting has.

GLOBAL OUTLOOK

Diplomatic Prelude or Pandora’s Box?  

Emma Cunningham, ‘26

Germany’s Chancellor, Olaf Scholz, called Russian President Vladimir Putin last Friday, breaking the ice between Russia and the West. It was the first time Putin has spoken to a leader of a Western country since late 2022.

• Scholz urged Putin to end his war on Ukraine, arguing that Russia has not achieved its goals in almost three years. 

• According to the Kremlin, Putin told the Chancellor that any peace deal in Ukraine needs to address “the root causes of the conflict.” This means Russia isn’t giving up Ukrainian territory unless Ukraine agrees to stay completely neutral—like swearing off NATO membership, for starters. 

The call took place soon after Trump’s win in the U.S. election, which has sparked uncertainty in the West’s support for Ukraine’s war effort. 

• Trump has voiced skepticism about continuing to send aid to Ukraine and seems keen on pulling the U.S. back into it’s own bubble. 

President Volodymyr Zelensky slammed Schloz’s decision to speak with Putin as “opening Pandora’s box” and undermined efforts to isolate Vladimir Putin to end the war. 

• Zelensky claims that Putin’s goal isn’t peace, it’s breaking out of isolation to stage talks that won’t end violence. 

• Scholz has been pushing for a second conference on peace in Ukraine over recent months, including Russia after the initial one in June without their participation. 

Schloz’s chat with Putin has stirred the pot, splitting the West between those pushing for talks and those worried it’s giving Putin exactly what he wants.

So what happened at APEC?

Mateo Alvarez Vergara, ‘27

You know when you’re playing Monopoly, and there’s really only two players who are still playing and one is clearly winning but oh man, you’ve been playing for like 3 hours already and the game just doesn’t seem to end. Well that was kinda what the APEC meeting felt like. The Asia-Pacific Economic Cooperation meeting took place last week in Lima, Peru. All the big leaders of Asia, Australia, North and South America were present. Most importantly it is the meeting of the biggest trading partners of China and the United States who battle for influence over the region. It would also mark the final time that Biden and Chinese president Xi Jinping would meet. Xi began his South American tour by inaugurating a port in Peru, the US in response released a statement noting the 1.8 billion dollars they have invested in Peru, since 2001. The APEC meeting dealt with themes of future tariffs by the oncoming American president, China specially warned that protectionism risks sending the world backwards. Xi also announced that China would be signing a free-trade agreement with Peru while also traveling to Brazil this week to meet with president Lula, as well as to travel to Argentina to visit president Milei, while the US talks about increasing tariffs and closing trade, China is elated to fill in the gap. It is clear there is a winner in the game of gaining influence in South America. 

Russia’s Winter Woes

Marcus Gonzalez, ‘28

As temperatures drop in the northern hemisphere, winter has come for Russia. Facing a sharply declining birthrate, internal calls to stop the war, and barrages of drone attacks from Ukraine, the Kremlin have taken drastic measures to combat the many crises affecting their nation.

Firstly, the State Duma (their version of the House of Representatives) voted last Tuesday to pass a ban on anything considered “propaganda” that would encourage Russians to not have children. These fines, valued at $4,000 for individuals and $50,000 for businesses or other groups, can be enforced on movies, advertisements, internet sites, and other works of media. Separately, they have banned the adoption of Russian children by any foreign citizens whose native country supports “gender transitioning”. This represents two continuing trends in Russia: namely the very real issue of population decline and the less real issue of contrasting themself with Western governments. As life expectancy drops in the country, caused most notably from their ongoing war, Russian politicians have casted a stark difference between the traditional values of Russia and the West who is facing significantly more population decline. Regardless of the political and cultural goals of these laws, experts firmly believe that these bills will do nothing to change the demographic collapse of the country. Only roughly 3% of Russians say they do not want children, and people with knowledge of this topic say that those people are unlikely to change their opinions based on the lack of “child-free propaganda.”

Moving onto developments on the war. While some theorized that Trump’s election would cause the immediate end of hostilities, Ukraine was eager to demonstrate that the war is far from over. Last Sunday, just five days after the election, Ukraine launched one of the largest attacks since 2022, including around 80 drones throughout Russia, including nearly 30 strikes in Moscow. The Russian government claims to have shot down every drone in the country, however, that was not without several being injured and one confirmed death. While this represented an important and strategic win for Ukraine, it is significantly dampened by the constant Russian missile strikes that are being fired towards Ukraine daily. Additionally, Russia has begun further intensification of its practice of jailing anti-war advocates. Most recently, a doctor was sentenced to 5 years in prison after a patient’s mother claimed that the doctor said that a Russian soldier was a “legitimate target for Ukranian aggression”. Activist groups have been outraged by this clear violation of human rights and one outspoken advocate claimed that this ruling means that “any ‘patriot’ whose feelings were hurt can now write a complaint and send anyone to jail”.

MACRO

DOGE (MEME), DOGECOIN (CRYPTOCURRENCY), AND NOW D.O.G.E. (GOVERNMENT ADVISORY BRANCH)?

Rachel Wanagosit, ‘27

Donald Trump just announced that Elon Musk—X and Tesla CEO and Vivek Ramaswamy–- former GOP candidate, will be co-chairing the Department of Government Efficiency, aka D.O.G.E. This is a temporary department intended to last no longer than 18 months, or until July 4th, 2026. Trump has spoken about his intentions to close down the education program as one way to cut spending, leaving many in fear about how they will pay for higher education.

Doge started as a silly little internet meme in 2013; it then became a real cryptocurrency, and now it is a real government advisory body. Ironic enough, Elon Musk has been a big promoter of Dogecoin in the past. Since D.O.G.E. was announced last Wednesday, the cryptocurrency has increased by 75.91% in only five days. 

To be clear:

D.O.G.E is not a real government body, despite the “department” in the name. Trump proposed the creation of an advisory body that operates outside of government, meaning it has no statutory authority. Only Congress can create government bodies.

What is the purpose of D.O.G.E.?

Trump wants to eliminate excess government spending, especially since he wants to implement significant tax cuts. The U.S. is currently in about $35.9 trillion dollars of debt. Trump said he wants to take a more “entrepreneurial approach” to drive “drastic change.” The department exists to advise the White House on cutting spending while working with the White House Office of Management and Budget, which is responsible for assembling the president’s budget request to Congress. Elon Musk posted on X: "Anytime the public thinks we are cutting something important or not cutting something wasteful, just let us know! We will also have a leaderboard for [the] most insanely dumb spending of your tax dollars. This will be both extremely tragic and extremely entertaining.” Maximum transparency seems to be the motto of the advisory body. 

China Replaces U.S. as Dominant Trading Partner in Latin America 

Armaan Karnad, ‘28

Over the past 20 years, China and Latin America have been getting cozy over a medley of new trade deals and an infrastructure pact. The U.S. is still sitting in the corner. 

As of 2023, China has become Latin America’s largest extra-regional trading partner. Given the region's diverse wealth of commodities, human capital, and growing consumer base, it is surprising that the U.S. has remained oblivious to its opportunities. 

In recent years, U.S. policy toward Latin America has focused on addressing drug trafficking and illegal immigration while completely missing opportunities stemming from the region's increasing political stability and middle class. Thanks to American indifference, China has been able to swoop in and propose infrastructure deals that supported commerce and fostered solid diplomatic ties. While the U.S. is currently behind China, all hope isn’t lost. China’s economy is facing the triple threat of high youth unemployment (17.6% as of Q3 2024), a contracting manufacturing sector, and an aging population. These economic pangs reduce global confidence in the Chinese economy, which makes the U.S. a more favorable trading partner. 

China has been supporting Latin America primarily through the construction and financing of economic projects. The most notable of these initiatives include a fourth bridge for the Panama Canal and the Chancay mega port in Peru. In exchange, countries such as Argentina have given China permission to build satellite bases within their borders. In addition to achieving economic influence in the region, China aims to acquire a firm grip over Latin American policymakers. Seven of the eleven nations that maintain diplomatic relations with Taiwan are in the region, so China’s increasing influence could possibly whittle down that number in the coming years, squeezing Taipei even further on the global stage.

With Donald Trump continuing the U.S.’ narrow attitude toward Latin America, the future of U.S.-- Latin American trade relations is on the rocks. Meanwhile, China and Latin America seem to be moving towards a full-on engagement. 

Fed Speaks, Markets Freak: Retail Sales Shine, Stocks Decline

Francesca Bolastig, ‘27

On Friday, stock and bond prices fell following a retail sales report that could bolster the case that the economy is strong and may not need support in the form of lower borrowing costs…

• Dow Jones fell dropped 0.7%,

• S&P 500 dropped more than 1%, and

• The Nasdaq Composite dropped around 2%.

According to Susan Collins, Boston Fed President, the Fed’s next interest rate decision has yet to be forgone. Collins emphasizes that for the December 17th-18th meeting, a rate cut is “certainly on the table,” but it is not a done deal. This decision will ultimately hinge on upcoming data, specifically inflation and employment figures this November.

Over the Fed’s last two meetings, they have slashed rates by 0.75 percentage points to ease economic pressure due to weakening labor market signals; however, last month’s inflation data surprised the high side, complicating the central bank’s path. Collins attributed this inflation uptick to the lingering effects of past price shocks rather than new pressures. 

Jerome Powell, chair of the Fed, noted robust economic activity and explained that this activity should increase cautiousness regarding their approach to Fed cuts.

What does this mean for investors?

• Markets are uncertain if the Fed will cut interest rates as much as expected.

• Future markets will show fluctuating expectations for a December rate cut, moving between 60% and 80% last week.

Critical data on November inflation and employment will be released before December 17th, the Fed’s next meeting. The Fed will weigh these data points to decide their future decisions for the betterment of monetary policy.

Collins supports continued rate reduction to achieve a “neutral” policy stance, though, where economic growth is neither spurring nor restrictive. In her eyes, the policy is still restrictive, and she underscores the need for caution as the Fed moves closer to the “balanced” policy stance. She says, “We will get to a place where it will be appropriate to feel our way more slowly and more cautiously,” and signals that the Fed could soon pause to reassess their decisions.

Now, the Fed’s course for decision-making remains data-dependent. As investors and policymakers scrutinize November’s economic reports, we may see a tip in the scales forward–or away from– another rate cut.

TECH

Amazon’s Smart Glasses for Drivers: A New Vision for Logistics

Carson Panter, ‘28

Amazon is working to revolutionize its delivery process with smart glasses designed for its drivers, potentially eliminating the classic scene of startled delivery workers encountering territorial dogs. According to a report from Reuters last Tuesday, November 12th, the tech giant is developing a version of its Echo Frames glasses that could provide navigation assistance and optimize package drop-offs.

The glasses are intended to guide drivers with turn-by-turn directions, such as advising which way to turn after exiting an elevator or locating specific drop-off points. A unique feature being explored is canine detection, which could help drivers avoid encounters with aggressive dogs. Amazon believes that shaving off even a few seconds per delivery could significantly boost overall efficiency.

The Vision is There, but Obstacles Remain

Unfortunately, the technology is far from ready for deployment. Challenges include developing a battery capable of lasting through an entire eight-hour shift, a feat that Amazon has yet to achieve. Additionally, building the comprehensive database needed to map houses, streets, and delivery environments could take years.

Amazon’s broader success with smart glasses has been modest at best. Its consumer-focused Echo Frames have sold fewer than 10,000 units of the latest model, indicating limited interest in the technology. Meanwhile, competitors like Apple and Meta are investing in their own smart glasses, though canine detection remains a niche feature exclusive to Amazon’s concept.

The Market View

So, how are these glasses affecting the economy?

• Efficiency Gains for Amazon: AR smart glasses could lower operational costs by minimizing delivery errors and reducing the time spent locating packages or navigating routes.

• Potential Workforce Shifts: While designed to assist drivers, the technology raises concerns about job security as automation trends continue to grow in the logistics industry.

• Boost to AR Hardware Market: Amazon’s adoption may drive demand for AR technologies, fostering competition and innovation among suppliers.

• Impact on Local Economies: Improved delivery efficiency could reduce costs for businesses, but automation could also lead to workforce reductions over time.

In a broader sense, the move reflects a shift in how companies value efficiency over tradition. The ripple effects could influence local economies, from the reduction in idle delivery times to the potential job losses or shifts as logistics processes become increasingly automated.

By integrating AR smart glasses, Amazon reaffirms its commitment to innovation while stirring important debates about the future of work and technology’s role in the economy. Whether this gamble pays off still remains to be seen, but for now, the company is literally keeping its eyes on the road ahead.

The Onion Acquires Infowars

Drew McDonald, ‘26

In a turn of events that reads like its own satire, The Onion has emerged as the winning bidder for Alex Jones' Infowars in a bankruptcy auction. The sale, however, now faces immediate legal scrutiny. The acquisition includes InfoWars' complete digital infrastructure, website, intellectual property, and studio equipment.

The deal originated when Onion CEO Ben Collins noticed Jones' court-ordered asset liquidation and envisioned a satirical takeover. Ben Collins stated, “That’d be one of the funniest jokes of all time if we pulled this off, if the Onion bought Infowars… We want to rip out the underlying structure and just be like, 'Look at how they made you fear everything and buy yourself into this sort of thing,'" to New York Magazine. The purchase was able to receive strategic backing from Sandy Hook families. They suffered years of harassment, death threats, and emotional trauma after Jones repeatedly claimed their murdered children were "crisis actors" in a staged event - leading to a $1.5 billion defamation judgment. For years, Jones' followers stalked and threatened these grieving parents, forcing some to move repeatedly to escape harassment. In an innovative arrangement, these families agreed to forgo a portion of their potential recovery to facilitate the sale, seeing it as a form of comedic justice beyond monetary compensation.

However, U.S. Bankruptcy Judge Christopher Lopez has ordered an evidentiary hearing following concerns about auction transparency. The controversy centers around a competing $3.5 million bid from the First United American Companies, a Jones-affiliated entity, shown to be higher than The Onion's undisclosed offer. Judge Lopez stated in an emergency hearing on November 14th afternoon that "no one should feel comfortable with the results of this auction.”

Jones relocated his broadcasting operation, denouncing the sale as a "total attack on free speech" and claiming the auction was "a hoax" on his broadcast. If the Onion bid is successful, it plans to relaunch InfoWars in January, as Collins describes it as “a very funny, very stupid website,” with gun violence prevention organization Everytown for Gun Safety serving as the exclusive launch advertiser.