CONSUMER TRENDS

The Negative Impact of Short Form Video Content on the Youth  

Caitlin Sigler, ‘27

With social media consumption on the rise, the target audience for said consumption has shifted dramatically over the years—and not in a good way. The target demographic for consuming short form video content has significantly lowered in age, and has had clear effects on the mental health of today's youth. In this day and age, kids are consuming more content than ever; and the pressure to keep up with trends has never been more prevalent than it is today.

It has gotten overwhelming for kids to be consuming so many different forms of content—and it has been proven to have negative effects on their mental health. From wearing the right clothing, using the right makeup and skincare products, and participating and keeping up with all the newest trends on Tiktok, it can get to be too much on a developing mind. This unfortunate trend is one that will continue to evolve with time, and as these kids grow up we will see its lasting negative effects.

GLOBAL OUTLOOK

Canada Floats the Idea of Excluding Mexico from the USMCA

Mateo Alvarez Vergara, ‘27

There always comes a time when a ménage à trois falls apart, jealousy, spite and tariffs always seem to come between them. Tensions have been rising in the free trade partnership of Canada, United States and Mexico; as the USMCA comes under revision in 2026 and with tariffs being threatened by the upcoming president, some Canadian leaders such as Ontario premier Doug Ford have suggested scraping the deal altogether and negotiating one that is exclusive to the US and Canada. The concern being that Mexico is a proxy for Chinese made goods into the US and Canada, costing the latter two jobs and opportunities. It wasn’t until last year that Mexico became the US’ largest trading partner surpassing that of China and Canada, which had previously held the title. Though the office of Prime Minister Justin Trudeau has not confirmed the strategy to sideline Mexico in a future renegotiation of the treaty, however members of his cabinet have shared concerns of Mexico serving as a backdoor for the Chinese into North America. Recently Canada announced a 100% tariff on Chinese made EVs, matching those of the United States, yet Mexico does not share any of these tariffs. When asked about a potential change in trade relations Mexican president Claudia Sheinbaum commented that she “does not agree with that”, instead insisting on the importance of keeping the trilateral trade agreement, the importance of which was discussed in a bilateral meeting during the G20 with emissaries from the three countries. As the future of the USMCA hangs in the balance, the question remains whether North America’s trade partnership can withstand growing tensions—or if a fractured alliance is an inevitable consequence of shifting economic priorities and rising protectionism. 

Silencing the Hong Kong 47: Democracy in Peril

Marcus Gonzalez, ‘28

Last Tuesday, Hong Kong’s High Court sentenced forty-five democratic activists for up to ten years in jail under the crime of conspiracy to commit subversion, which if you think sounds like a made-up excuse to imprison dissidents, then you would probably be right. These activists, a part of the colloquially-named “Hong Kong 47”, were charged due to their involvement in “pre-election primaries” which would have produced candidates to run for office in Hong Kong. These activists were the most well-known opposition to the Chinese Communist Party in Hong Kong and their arrest has led to the dominance of the central government on the island. Prosecutors say that this act of organizing elections was akin to a “coup” and is therefore illegal under the National Security Law enforced in Hong Kong after pro-democracy protests led to Beijing cracking down on internal dissent in 2020. This law has been used to charge hundreds of protestors, reporters, and other activists in Hong Kong and has fostered the culture of authoritarianism that is dragging the island’s government to be more in line with the CCP. 

As a British territory until 1997, Hong Kong had grown used to a democratic system of government that attempted(as it still was a colonial subject) to guarantee their civil liberties. In the months leading up to the handover, the island witnessed massive amounts of emigration as fears of impeded freedoms spread and the government hastily prepared democratic reforms. After Hong Kong became Chinese property, a cycle of government overreach and popular protest began, leading up to the creation of the National Security Law that governs the island today. With that law, and the subsequent jailing of activists, experts believe that it has finally reached a turning point in the struggle for democracy. Most recently, new election reforms require all candidates to be vetted by a committee composed of members of the current ruling party along with the national security committee, essentially disqualifying any democratic candidates before they even begin.

Notably, many people in Hong Kong have expressed outrage over the jailing of the forty-five activists which maintains hope that a united opposition group can still form to protect the island’s liberties. Aside from the disinformation and government oppression, people will still see the truth about the fabricated claims. As Gwyneth Ho, one of the Hong Kong 47, said after being arrested for activism, “our true crime for Beijing is that we were not content with playing along in manipulated elections”. 

MACRO

Cryptocurrency is Going Crazy: Through a Bitcoin Lens

Rachel Wanagosit, ‘27

 After the election and the announcement of Trump’s victory, cryptocurrency prices surged. Take Bitcoin, which has been at an all-time high, hitting $98.579.60 last Friday, jumping 46.38% just this past month. It started the month at $69,10.34.

What is the difference between cryptocurrency and the dollar? Traditional currencies like the dollar are backed by the government and count as legal tender. The exception to the rule is El Salvador, which has now adopted Bitcoin as a form of legal tender.

Donald Trump has branded himself as a pro-crypto candidate, and his campaign has even accepted cryptocurrency as payment.

Trump crypto proposals:

• Enact a strategic national crypto stockpile if elected to a second term, meaning that he would only continue to acquire cryptocurrency but not sell any under his administration.

• Create a “bitcoin and crypto presidential advisory council. “The rules will be written by people who love your industry, not hate your industry,” he said.

• Stressed the importance of bringing more Bitcoin mining operations to the US.

The Future of Cryptocurrency:

The cryptocurrency market is projected to reach 2.2 Billion USD by 2026. The possibilities seem endless; Marion Laboure, an analyst at Deutsche Bank, even stated, “I could potentially see Bitcoin to become the 21st-century gold.” Her reasons include that gold has historically been volatile, there’s a limited supply (Never more than 21 million), and the government does not regulate it, all qualities that Bitcoin has. Some shops even take it as currency, although the process is now lengthy and inconvenient. A concern is the amount of electricity it uses, which could be overcome due to technological advances. Safe to say, cryptocurrency has and will continue to experience dynamic growth.

Dangling Debt Doomsday?

Armaan Karnad, ‘28

In 2000, the U.S. Federal debt to GDP ratio was 55.2%. As of November 21st, 2024, that number is 122.85% (usdebtclock.org). To put it lightly, the U.S. government's borrowing habits have been… questionable over the last two decades. With the recent election of Donald Trump, who promises to reinvigorate the economy through tax cuts and tariffs, the debt ceiling has again entered the spotlight. 

Tax cuts increase disposable income, while the import tariffs increase the demand for domestically produced goods, raising prices. Thus, both policies generate upward pressure on inflation. $20 McDonald’s meals are annoying, but that’s far from the worst of inflation’s surprises. 

Inflation reduces the purchasing power of future cash flows from bond payments. To offset these losses, lenders demand higher yields on Treasury securities, which are the government's primary debt instrument. Tax cuts reduce tax revenue, forcing the government to utilize more debt for funding. The ultimate consequence is more debt being issued at a higher interest rate. For instance, the yield on the 10-year Treasury note, a benchmark for long-term borrowing, is expected to rise to 5%, according to Swiss Re, a major insurance company (WSJ). 

Trump’s policies await the approval of Congress as well as investors’ reactions. These two forces will likely moderate the tax cut and tariff policies, preventing the nation from having a major doomsday anytime next year. Still, over the long run, anything is possible. An aging population and technological developments such as AI could simultaneously reduce the working-age population and make jobs available. The result would be an ever-shrinking tax base that would only encourage more borrowing to pay off existing debt. It would be like Inception but with debt instead of dreams. 

Consumer Credit: Calm Before the Storm?

Francesca Bolastig, ‘27

  💳 Credit card delinquencies seem to have peaked for now

What’s going on?

Credit card delinquencies are at least stabilizing, but the American public isn't eager to accumulate more credit. This is good news for lenders experiencing reduced incidences of nonperforming loans but bad news for those not attracting new customers.

Delinquencies have been slowing down:

For the first time in the bureau data since mid-2021, a reduced number of people are materially delinquent on credit card payments. Q3 saw a slight decline in the new delinquency rate.

Not to mention, debt isn’t booming, either.

Nevertheless, household debts are increasing slightly slower than GDP, and real debt numbers are still below the level seen in 2008. For example, credit card debt per household is 13% below its peak.

Finally, consumer appetite is losing its bite.

Higher costs of borrowing (ouch) and reduced conspicuous consumption post-pandemic have also been lessening peoples' enthusiasm for credit. This forced some banks to report that the people had started requesting fewer credit cards.

Why it matters: Banks love their sky-high credit card rates but must make more new loans to expand their business. Englemann suggests that consumers may avoid borrowing more money because it wouldn't allow them to spend more no matter how much they wanted to continue borrowing more money to fuel their spending growth.

What's next?

Banks may loosen lending standards and use riskier borrowers to increase loan portfolios. This act may stimulate spending but also negatively impact banks and the economy. 

This could lead to spending, which could also result in problems if the economy declines, especially if the unemployment rate escalates. For now, good earnings from their jobs and cautious spending are helping the majority of Americans to survive. However, if borrowing increases because people exhaust all other possibilities, it could lead to future problems.

TECH

Nvidia’s Blackwell Chips: Ushering in the Next Wave of AI Hardware

Carson Panter, ‘28

Nvidia has done it again. According to the company last Wednesday, November 20th, its next-generation Blackwell chips, the B200 and GB200, will be set to go into full production by Q3 2025. Built to cater to the insatiable appetite of generative AI and advanced computational demands, these chips could redefine the boundaries of AI-driven industries. Nvidia’s latest architecture promises more power, efficiency, and capability than its record-shattering predecessors, like the H100 GPUs.

Why Blackwell Matters

The Blackwell series is designed with a laser focus on emerging AI applications, including:

• Generative AI: Enhanced speed and efficiency for AI models like ChatGPT and image synthesis tools.

• High-Performance Computing: Bolstering scientific research and analytics.

• Autonomous Systems: Advancing industries such as robotics, automotive, and logistics.

The architecture is expected to leverage cutting-edge innovations, including optimized tensor cores and expanded memory bandwidth, making it a game-changer for data centers and beyond.

Economic Implications: The Dollars Behind the Data

Blackwell isn’t just a tech story—it’s an economic one. Nvidia’s chips are the beating heart of a semiconductor industry projected to hit $1 trillion by 2030. Here’s how Blackwell might reshape the landscape:

• Stock Market Rally: Nvidia shares could see another surge, mirroring its post-H100 performance. The chipmaker's valuation has already climbed over $1 trillion in 2023.

• Job Creation: Increased demand for advanced chips will boost global manufacturing and design efforts, particularly in regions like Taiwan and the U.S.

• Market Influence: Blackwell could extend Nvidia’s dominance in sectors like healthcare AI, fintech, and 5G.

The Bigger Picture: Competition and Risks

While Nvidia leads, rivals like AMD, Intel, and even custom AI hardware developers are gunning for a slice of the market. Nvidia’s ability to deliver Blackwell on schedule will be pivotal, as delays could open doors for competitors. Additionally, geopolitical factors such as U.S.-China tech tensions and supply chain challenges will test the company’s resilience.

Bottom Line: Blackwell isn’t just another chip—it's Nvidia’s next move to solidify its dominance in AI and redefine what’s possible in tech. Whether you’re a tech enthusiast, an investor, or just someone fascinated by the AI revolution, this is a story to watch.