The Higher Standard (Chris Naghibi & Saied Omar)
Explore every episode of The Higher Standard
| Pub. Date | Title | Duration | |
|---|---|---|---|
| 10 Sep 2024 | Real Money Making Habits That Can Make You Millions | 01:33:39 | |
In this episode of The Higher Standard, your charming hosts Chris, Saied, and Haroon dive deep into the habits that might be holding you back from financial freedom, inspired by Humphrey Yang’s insightful YouTube video “The Middle Class Habits Keeping You in the Rat Race.” The trio dissects the habits that seem harmless but might be chaining you to mediocrity, and they share their own witty takes on breaking free and creating real wealth. Get ready for some laughs, real-talk advice, and actionable steps to escape the rat race for good. Spoiler: It's not just about skipping that morning latte! ➡️ Expect a dynamic conversation that balances humor and depth, with takeaways like the importance of investing in yourself, mastering delayed gratification, and rethinking the way you approach money management. Whether you’re just starting your financial journey or a seasoned pro, there’s something in here for everyone — and as always, it’s delivered with the signature banter that keeps you coming back. 💥 Have you left your "honest ⭐️⭐️⭐️⭐️⭐️" review? 🏆 Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. ✔️ Click the link and start today: http://www.transcendcompany.com/THSP 👕 THS MERCH: http://www.thspod.com 🔗 Resources: The Middle Class Habits Keeping You in the Rat Race (Humphrey Yang via YouTube) ⚠️ Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 29 Sep 2023 | Listener Appreciation Q&A Episode | 01:12:00 | |
Saied, Haroon and Chris wanted to find a way to give back to the THS community and "thank you" all for your support. We know that at times we can't and don't always answer questions in the "DMs" as well as we would like to. So, we posted a Q&A opportunity on our respective Instagram accounts. We were overwhelmed with the wonderful questions asked and we can't thank each and every single one of you enough. This show is literally funded by your small gestures. Honest five star reviews and your engagement make long nights of editing, mixing and mastering audio for streaming and managing social media accounts worth it. The Higher Standard podcast is what is today because you have enabled us to keep going. Since we got so many questions, we will be trying to do more Q&As and make actually attempt to do a live show on YouTube in the not too distant future. Until then, we hope you enjoy the episode. Resources: Everything You Need to Know About the Bond Market (The Motley Fool) 10-Year Treasury Bond Yield: What It IS and Why It Matters (Investopedia) How the 10-year U.S. Treasury Note impacts mortgage rates (MCT Trading) Fed’s interest rate history: The federal funds rate from 1981 to the present (Bankrate) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 05 Aug 2022 | House Speaker in Taiwan and the IRS Gets a Stimmy | 00:46:45 | |
In today's episode of The Higher Standard, Chris offers up some fresh insights and opinions on Nancy Pelosi's ill-advised trip to Taiwan and the Democrat's new stimulus package. In this episode you'll discover: - Nancy Pelosi's problematic trip to Taiwan and the diplomatic repercussions. - The Inflation Reduction Act of 2022, introduced by the Democrats. - Comments made during a CNBC interview with James Poterba, President and Chief Executive Officer of the National Bureau of Economic Research (NBER) and the Mitsui Professor of Economics at MIT. This is a show you do not want to miss! Join Chris for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
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| 04 Oct 2022 | Housing Continues To Deteriorate, Billionaire Grant Cardone and Chris is Planning to Invest | 00:55:19 | |
As you can see from the collection of articles added below, the housing recession has finally reached a point where only the most oblivious could possibly claim that it's not happening. Despite the best efforts of the Fed to control inflation, jobless claims and mortgage rates are rising, and housing prices are falling. What does all this mean for the economy? Chris and Saied are here to offer some thoughts. In today's episode of The Higher Standard, Chris and Saied take a look at all this new information to try and understand the economic implications of it all, starting with an article from CNBC stating that a new report from Redfin shows that home purchase cancellations are above 15% for the second straight month. They discuss why the Fed's attempts to curb inflation seem to not be going well. The difficulty is that the primary method for curbing inflation - raising the Fed borrowing rates and pulling out liquidity with quantitative tightening - has an impact on earnings for corporations, which has its own implications. Chris and Saied discuss a recent article from Bloomberg which states quite clearly that US housing prices have fallen for the first time since 2012, and one from Fortune, reporting that housing prices have plunged in 77% of US metro areas. They also discuss the many reasons to be wary of advice from people like Grant Cardone, and why Cardone Capital is not a real estate investment trust, but a long-term investment vehicle. If you have burning questions about commercial real estate, this is the episode you've been waiting for! Join Chris and Saied for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Home Purchase Cancellations are Above 15% for the Second Straight Month." - article from Apple News "US Housing Prices Fall for First Time Since 2012" - article from Bloomberg "Housing Prices Plunge in 77% of U.S. Metro Areas: 'The turn has finally happened'" - article from Fortune Original Research Article - AEI research document "U.S. pending homes sales post third straight monthly decline in August" - article from Apple News "'The Fed Trying to Control Inflation Actually Created More Damage': Grant Cardone Says the Fed Ended Most People's Chance of Owning a Home" - article from Yahoo! Finance | |||
| 10 Nov 2023 | Slowdown Signals Cooling Economy, SBF Will Die In Jail & 3 Amazing Reviews | 01:08:49 | |
Let's not mince words here, we got three spectacular reviews and they were the highlight of our night. Thank you to the listeners who made this episode extra special. The episode of The Higher Standard podcast is a ton of fun at every stop. The boys briefly touch on mortgage demand dropping to approximately 50% of pre-pandemic levels, a sharp slowdown in hiring and where to put your money while all this is going on. Saied couldn't resist diving head first in to Sam Bankman-Fried's most recent conviction on all seven federal charges against him and both Chris and Haroon show no sympathy. Make sure to stay tuned all the way to the end when the guys are simply at a loss for words. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: Mortgage demand is now down 50% from pre-pandemic levels (The Kobeissi Letter via X) Sharp U.S. Hiring Slowdown Signals Cooling Economy Ahead (Wall Street Journal) If Interest Rates Are Peaking, What Investments Are Likely to Do Best? (Wall Street Journal) Sam Bankman-Fried Is Convicted of Fraud in FTX Collapse (Wall Street Journal) Sam Bankman-Fried found guilty on all seven criminal fraud counts (CNBC) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 13 Sep 2022 | Housing Market Updates You Need to Know and the Jobs Report | 01:02:47 | |
Despite a few naysayers who still cry fowl, the housing recession (as it's been called by the National Associations of Realtors) continues as the Fed battles inflation. The reasons for the 'pretend it's not happening' attitude among a few pundits and so called influencers is baffling as it conflicts with nearly every data point and the opinions of many economists and experts in the field. In today's episode of The Higher Standard, Chris and Saied discuss some of the most recent data points on the housing market, and how this information will affect you. They discuss why many people believe that a credit crunch is the only path to difficult times, and why that kind of thinking is incorrect, if not delusional. Chris and Saied look at the disturbing trend of otherwise intelligent people making comments and predictions that lack any kind of economist-based reasoning. They explore the idea of putting feelings before data, and why that leads to confusion and misinformation. They also explore the latest jobs report indicating that unemployment has risen slightly from 3.5 to 3.7%, and explain why it contains some positive things for the job market, further confusing people as to where the economy is headed. This is a show you do not want to miss! Join Chris and Saied for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
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| 25 Jun 2024 | The Fed Admits They Were Wrong | 01:24:43 | |
Chris, Saied, and Haroon kick off this episode of The Higher Standard podcast with a look in to dive deep into what was once the hype around the Bilt credit card program. The Flashy Rent Credit Card was backed by Wells Fargo Bank and is costing them $10 million a month thanks to some poor business decisions. Sometimes when something sounds too good to be true, it is. And yes, even big, sophisticated banks can make bad decisions sometimes. ➡️ Even though Chris forgot his introduction in this week's show and Saied stole the show closing, they still managed to provide some economic insights on the Fed holding rates unchanged, what the CPI report means for you and what could potentially be the "mother of all layoffs." 💥 Have you left your "honest ⭐️⭐️⭐️⭐️⭐️" review? 🏆 Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. ✔️ Click the link and start today: http://www.transcendcompany.com/THSP 👕 THS MERCH: http://www.thspod.com 🔗 Resources: Wells Fargo Bet on a Flashy Rent Credit Card. It Is Costing the Bank Dearly. (Wall Street Journal) Another more-of-the-same report on CPI rent (and OER) (Jay Parsons via X) The mother of all mass layoffs is coming (ZeroHedge via X) Buying conditions in the US housing market have collapsed (Game of Trades via X) ⚠️ Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 20 Oct 2023 | Rents Dropping, Syndications Popping & Apple Juice | 01:25:39 | |
Spoiler alert, it's cheaper to rent than it is to buy in many markets and Chris, Saied and Haroon are here to break it all down. They use the Austin market, which was a major growth market during the pandemic, as a prime example of the stress that may be forcing rental rates further down. They take a break to celebrate some of the nation's top colleges eliminating student loans entirely, but then get back to the apartment market by citing Miami's downward rental trends. Finally, to cap the show, Chris and Saied talk a whole lot of trash about novice syndicators like Brad Sumrok. Oh, and apparently Haroon opens up apple juice jars with his rear end. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: Mortgage Cost Surge Makes It Cheaper to Rent in Tough US Market (Bloomberg) Austin has over 120K apartments in pipeline (The Real Deal Some of the nation’s top colleges are eliminating student loans (CNBC) Miami’s Rental Market Roller Coaster Is Headed Downhill (Wall Street Journal) Multifamily mentor Brad Sumrok built an empire. Now, the cracks are showing (The Real Deal) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 29 Nov 2022 | Mortgage Rates Drop, the Housing Correction isn't Over, AirBnb Issues and Q&A | 01:08:48 | |
The Federal Reserve may have to raise its benchmark interest rate much higher than it has previously projected to get inflation under control, according to James Bullard, president of the Federal Reserve Bank of St. Louis. Bullard suggested that the Fed’s rate hikes will make borrowing by consumers and businesses even costlier and further heighten the risk of recession. In today's episode of The Higher Standard, Chris and Saied take a deep dive into these comments and where they come from, as well as what they mean for the economy and the continuing fight against inflation. Thanks to a submitted listener question, they discuss the true impact of rising interest rate on the current housing market. Chris and Saied discuss a report stating that the number of available short-term rental listings in the U.S. skyrocketed to 1.38 million in September - a 23.2% year-over-year increase, according to rental analytics firm AirDNA. They also discuss comments from KPMG's chief economist Diane Swonk who predicts that a 15% drop in home prices for next year is “very conservative,” as the housing bubble begins to pop. Join Chris and Saied for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Fed’s Daly sees rates rising at least another percentage point as ‘pausing is off the table’" (article from CNBC) "Sharp drop in mortgage rates does little to boost demand" (article from CNBC) "Rising mortgage rates could take 20% bite out of home prices" (Article from The Real Deal) "Too Many Rich People Invested In Airbnbs, More Than A Million Remain Unoccupied" (article from Travel Noire) "Fed's Bullard says benchmark interest rate in 5%-7% range may be needed to bring inflation down" (article from MarketWatch) | |||
| 22 Oct 2024 | Housing Market Update: Prices Falling in 26 of 28 Major Cities | 01:09:54 | |
Consumers might have to wait two to three years for their perceptions of inflation to normalize, as highlighted by Fed’s Daly, leaving many still wincing at higher prices. Meanwhile, falling home prices are causing significant distress, particularly in ten states where mortgage balances now exceed property values. ➡️ Episode 252 of The Higher Standard podcast dives into the alarming drop in US mortgage applications, which saw a 17% decrease—the largest since April 2020—along with potential benefits for homeowners in certain cities as interest rates tumble. The discussion also covers the anxiety surrounding credit card debt among Americans and JPMorgan’s new strategy to attract affluent clients with enticing branch experiences. Wrapping up, Chris, Saied and Haroon tackle why so many companies are firing Gen-Z employees, emphasizing a disconnect between workplace expectations and work ethic in today’s job market. 💥 Have you left your "honest ⭐️⭐️⭐️⭐️⭐️" review? 👕 THS MERCH: http://www.thspod.com 🧊 Get 12% off any purchase at Ice Barrel (Excludes chillers) 🔗 Resources: Here’s when consumers might finally stop wincing at higher prices, according to Fed’s Daly (MarketWatch) Falling home prices are hitting homeowners in these 10 states the hardest — with up to 10% of mortgage balancesnow topping their property values (Business Insider) JUST IN: US mortgage applications have dropped by 17.0% over the last week, the most since April 2020 (X / The Kobeissi Letter) 22 cities where homebuyers and owners will benefit most as interest rates tumble (Apple News) The Most Splendid Housing Bubbles in America: Sept Update: Prices Drop in 26 of 28 Big Metros, even San Diego, Los Angeles (Wolf Street) Americans are really anxious about their credit card debt (The Street) 'Signature bites' and free umbrellas: Inside JPMorgan’s plan to lure more rich people to its branches (Yahoo Finance) | |||
| 11 Apr 2023 | Jim Cramer Says You're Good Unless you Work Here | 00:53:18 | |
One of the world’s most well-known economists believes the banking crisis is far from over, and that U.S. authorities are merely buying themselves some time by insisting the banking system is “sound.” Nouriel Roubini, chief executive of consulting firm Roubini Macro Associates, argued on Friday that the financial system will be unable to cope with the sheer scale of private and public debt that has already been amassed, spawning a “trilemma” that will soon trigger another phase of panic. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss the news that an inflation gauge that the Federal Reserve follows closely rose slightly less than anticipated in February, providing some hope that interest rate hikes are helping ease price increases. Chris and Saied look at comments from asset management giant BlackRock stating that investors are too confident the Federal Reserve will cut interest rates this year and could pay the price later. They also offer some thoughts on Jim Cramer's assertion that he’s still searching for the first sign of a recession, even though it’s all anyone seems to be talking about. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Key Fed inflation gauge rose 0.3% in February, less than expected" (article from CNBC) "Home prices suddenly jump after several months of declines" (article from CNBC) "Bank Stress, Softer Inflation Just Made Fed’s Life Easier" (article from The Wall Street Journal) "BlackRock warns that investors are making a mistake by betting on the Fed to cut rates" (article from CNBC) "‘Dr. Doom’ Nouriel Roubini warns economic ‘trilemma’ is making a financial crash inevitable" (article from Fortune) "A recession may be coming, but Jim Cramer says he’s not seeing the early signs yet" (article from CNBC) | |||
| 06 Aug 2024 | How To Get Rich In This Economy | 01:37:03 | |
Getting rich can happen a lot of different ways, but very few instances are quick or by chance. Most people build wealth over time by following the principles that Chris, Saied and Haroon lay out for you at the top of episode 241 of The Higher Standard podcast. ➡️ But don't stop there, the boys jump in to all the financial information you need to know in order to stay abreast of what is going on in the economy. The only other thing they can do to make it easier to build wealth is just give you the money. 💥 Have you left your "honest ⭐️⭐️⭐️⭐️⭐️" review? 🏆 Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. ✔️ Click the link and start today: http://www.transcendcompany.com/THSP 👕 THS MERCH: http://www.thspod.com 🔗 Resources: Job openings dip slightly in June amid signs of 'turbulence' in labor market (Yahoo! Finance) The Fed needs to cut rates. Now. (Bloomberg Opinion) Trump turns up heat on Fed ahead of expected rate cuts: 'It's something that they know they shouldn’t be doing.' (Yahoo! Finance) The US national debt just surpassed another milestone: $35 trillion (Yahoo! Finance) GDP: US economy grows at faster-than-expected pace in second quarter as inflation eases (Yahoo! Finance) ⚠️ Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 03 Sep 2024 | What You Need To Know About Rate Cuts & How to Make Millions | 01:23:50 | |
In episode 245 of The Higher Standard podcast, Chris, Saied, and Haroon dive into the latest market-moving headlines. They start with a bombshell from Jerome Powell, who finally hints that the Fed might cut interest rates. But before you get too excited, they break down why rate cuts tied to a looming recession might spell trouble for your stock portfolio. The hosts then shift gears to the housing market, discussing how U.S. home prices have hit a record high, making it tougher than ever to afford your dream home. ➡️ And if that wasn’t enough, they expose some jaw-dropping admissions from Mark Zuckerberg that could change the way you see Big Tech. Lastly, they take a fascinating detour into the lucrative (and risky) world of professional whistleblowing—spoiler alert: you can make millions if you play your cards right! 💥 Have you left your "honest ⭐️⭐️⭐️⭐️⭐️" review? 🏆 Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. ✔️ Click the link and start today: http://www.transcendcompany.com/THSP 👕 THS MERCH: http://www.thspod.com 🔗 Resources: Jerome Powell says "time has come" for Fed to cut interest rates (Bloomberg Business via Instagram) Rate Cuts That Come With Recession Aren't Good For Stocks (Yahoo! Finance) U.S. Home Prices Hit A Record High (Yahoo! Finance via Instagram) Mark Zuckerberg just admitted three things (House Judiciary GOP via X) How To Make Millions As A Professional Whistleblower (GQ via Apple News) ⚠️ Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 16 Jun 2023 | David Solomon, How To Use Credit Cards & Bonds For Dummies | 01:14:55 | |
The Federal Open Market Committee (FOMC) is expected to maintain its benchmark lending rate at the 5%-5.25% range, marking the first skip after 10 consecutive increases going back to March of last year. While officials’ efforts have helped to reduce price pressures in the US economy, inflation remains well above their goal. Investors’ focus will be on the Fed’s quarterly dot plot in its Summary of Economic Projections, which is expected to show the policy benchmark rate at 5.1% at the end of 2023. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss comments from Goldman Sachs CEO David Solomon, who claims to be surprised at the way the US economy has weathered higher interest rates, elevated inflation, and banking turmoil over the past year. Chris and Saied look at recent Fed data, indicating that Americans have a record amount of credit card debt right now — close to $990 billion. They also offer some thoughts on a revised home prices forecast from Goldman Sachs strategists, who now predict a smaller decline this year — 2.2% decline in 2023, down from 6.1%. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "The U.S. economy has been incredibly resilient,” Goldman Sachs CEO" (CNBC) "Americans have almost $990 billion in credit card debt" (Marketplace) "The hidden risk on bank balance sheets" (Axios) https://moneywise.com/real-estate/dave-ramseys-2023-real-estate-predictions "Wall Street is divided on the outlook for US house prices. Here's what 6 experts have recently said." (Markets Insider) "Fed Is Set to Pause and Assess the Effect of Rate Hikes" (Bloomberg) | |||
| 04 Jul 2023 | GDP Revised, Trillians of M&A & Don't Be a Richard | 01:19:40 | |
The U.S. economy showed much stronger-than-expected growth in the first quarter than previously thought, according to a big upward revision Thursday from the Commerce Department. GDP increased at a 2% annualized pace for the January-through-March period, up from the previous estimate of 1.3% and ahead of the 1.4% Dow Jones consensus forecast. This was the third and final estimate for Q1 GDP. The growth rate was 2.6% in the fourth quarter. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss data from Realor.com, indicating that the number of homes for sale this month was actually 7% higher than June of last year. However, in just the last week, that comparison went negative, with the number of homes for sale falling below year-ago levels for the first time in 59 weeks. Chris and Saied look at a report from the Labor Department, shown that initial jobless claims decreased by 26,000 to 239,000 in the week ended June 24, lower than all the estimates given in a recent survey of economists. They also offer some thoughts on cryptocurrency's lack of government regulation and the opportunities it offers to traders wishing to bypass government red tape. However its lack of formal oversight also makes it ripe for abuse. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "First-quarter economic growth was actually 2%, up from 1.3% first reported, in major GDP revision" (CNBC via Instagram) "World's dealmakers are down $1 trillion in one of worst years for M&A and IPOs in decades" (Bloomberg Business via Instagram) "Dealmakers Adrift as $1 Trillion Vanishes in First Half" (Bloomberg) "Prices for luxury Swiss watches are near the lowest in almost two years on the secondary market" (Businessweek via Instagram) "Popularity of Apps for Early Paydays Masks Added Risks" (Bloomberg) "House hunting is already tough. Guess what? It’s about to get harder" (CNBC) "First-quarter economic growth was actually 2%, up from 1.3% first reported in major GDP revision" (CNBC) "He lost $340,000 to a crypto scam. Such cases are on the rise" (NPR) https://www.npr.org/2023/06/25/1180256165/crypto-scam-senior-victims-spirebit | |||
| 09 Jan 2024 | We Have Not Avoided A Recession Yet | 01:10:05 | |
Despite all the positive commentary regarding the increasing likelihood of a "soft landing," Chris, Saied and Haroon are not convinced that the economy is in a good place. Episode 209 kicks off with a look at the looming CPI report data and US national debt. Then they break down how the Fed has stopped talking about a recession for three consecutive meetings in a row now. The Higher Standard boys urge you not to make the same mistake that many made during the dot-com and housing bubbles because they believe The Great Correction is coming. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: What To Look For From The December 2023 CPI Report (Forbes) US national debt hits record $34 trillion as Congress gears up for funding fight (Yahoo! Finance) The Federal Reserve is done talking about recession (Business Insider) A soft landing for US economy is 'increasingly conceivable' but not 'inevitable': Fed's Barkin (Yahoo! Finance) Recession deniers are making the same mistake as during the dot-com and housing bubbles, top economist David Rosenberg says (Business Insider) 5 Best Money Resolutions for the Middle Class, According to Experts (Yahoo! Finance) Fed Minutes Suggest Rate Hikes Are Over, but Offer No Timetable on Cuts (Wall Street Journal) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 19 Aug 2022 | Inflation Disfunction Act, Andrew Tate and Body Hair | 00:47:10 | |
In the previous episode of The Higher Standard, Chris shared his less-than-charitable thoughts on the recently-passed Inflation Reduction Act, created by President Biden and the Democrats. The Act makes a 'down payment' on deficit reduction in order to fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by roughly 40 percent by 2030. Chris argued that the whole initiative seems to be based on a flawed understanding of the actual causes of inflation. In today's episode of The Higher Standard, Chris offers more insights on what he calls the "Inflation Dysfunction Act," citing the theories and opinions of past economists to make his point that this is a flawed strategy. Chris offers thoughts on the Federal Reserve's choice of either a 50 or 75 basis point hike at the September meeting, and why it's difficult to make a real prediction at the moment. They share opinions of several economists that seem to reveal some seasonality that isn't being taken into account by the Fed, which could affect its decision. They also dive into a Time Magazine headline indicating that gasoline demand in the US this summer has dropped below pandemic levels, which shows that Americans are driving less than they did in 2020, at the height of the COVID travel restrictions. This is a show you do not want to miss! Join Chris for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
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| 27 Sep 2022 | Chris Gets Scammed, How Long Will This Last and Q&A | 01:16:26 | |
If you've been following the news of late, you're probably aware that the Ethereum merger has been completed, as the cryptocurrency switches to the proof-of-stake (PoS) mechanism for verifying transactions on the blockchain. The move was intended to fix some of Ethereum’s problems by improving transaction speed and making them cheaper. However, the price has dropped since the transition on September 15. In today's episode of The Higher Standard, Chris and Saied's wide-ranging discussion takes on everything from Ethereum's merger and the Fed fund's target rate, to the recent 900-point drop in the Dow Jones Industrial Average. They explore the strange period of fluctuation we've entered in the real estate market where homeowner's mortgage payments are so low, relative to the property they bought, they don't want to sell, they want to rent. Chris and Saied also look at the reasons why China is no longer as inexpensive as it once was for labor and goods. Vietnam and India have begun to eclipse China with cheaper workforces and lower costs of production. They also offer some opinions on what they believe owner occupied 30-year mortgage interest rates will look like and why the 900-point drop in the Dow was caused by pricing in the Fed's most recent rate hike. This is a show you do not want to miss! Join Chris and Saied for this wide-ranging and informative conversation. Enjoy! What You’ll Learn in this Show:
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| 25 Oct 2022 | Numbers Are Ugly, Saied Takes Charge and Oklahoma Rocks | 00:59:23 | |
The seemingly inexorable march deeper into recession continues this week with more bad economic news from all sides. Bloomberg is reporting that, approximately 38% of workers have looked for a second job, while an additional 14% have plans to do so, according to a survey of more than 1,000 full-time US employees by Qualtrics. The combination of stubbornly high inflation and the approach of salary increase season will likely see this number increase. In today's episode of The Higher Standard, Chris and Saied dive into this news along with many other topics in order to help you make sense of the immense amount of information (and disinformation) found out there. They discuss a report from The Street indicating that 30-year fixed mortgage rates hit 7.22%, the highest in 20 years. However, that number has since jumped again to an average of 7.646%, making the prediction of rates rising to up to eight and a half percent all the more likely unless something changes. Chris and Saied look at recent comments by JPMorgan Chase CEO Jamie Dimon, who said that investors should expect more blowups after a crash in U.K. government bonds last month nearly caused the collapse of hundreds of that country’s pension funds. He went on to suggest that markets will continue to be volatile so long as the Federal Reserve is boosting rates and shrinking its massive balance sheet. They look at the IRS' announcement of higher federal tax brackets for 2023 to adjust for inflation. The standard deduction is increasing to $27,700 for married couples filing together and $13,850 for single taxpayers. There are also changes to the alternative minimum tax, estate tax exemption, earned income tax credit and flexible spending account limits. Chris and Saied also discuss recent comments from Amazon founder Jeff Bezos, who has become the latest corporate leader to warn about the state of the economy, cautioning that rougher times are likely ahead, and why his comments feel like a weather forecast delivered two days late. Join Chris and Saied for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Inflation is Forcing Over Half of Americans to Consider Second Jobs" (Bloomberg Business via Instagram) "US bank earnings revealed ominous clues about the future of the housing market" (article from CNBC Business) "Why job openings data might not mean what we think it means" (article from Marketplace) "IRS: Here are the new income tax brackets for 2023" (article from CNBC) "Mortgage demand drops to a 25-year low, as interest rates climb" (article from CNBC) | |||
| 21 Nov 2023 | The Recession Saga And A Market Adjustment | 01:08:53 | |
Welcome back to the number one financial literacy podcast in the world! It's The Higher Standard podcast. This episode Chris, Saied and Haroon continue to breakdown why they think we are likely already in a recession and the overwhelming likelihood that a "soft landing" was never actually possible. Owning a home has gotten way too unaffordable and despite the rhetoric from too many real estate economists, the boys think we have a long adjustment period in front of us. Lastly, there appears to be some mounting evidence that Airbnbs being banned actually helps rental rates go down in cities with new restrictions. All facts, no cap. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: Recession: The Stars Continue To Align (Forbes) Owning a Home Has Gotten Pricey, Fast. A Market Adjustment Is Coming (Barrons) The best evidence yet that banning Airbnbs will make rent go down (Business Insider) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 18 Apr 2023 | It's Time to get Frank, Banks and Boing Boing | 01:15:53 | |
Released Federal Reserve documents seem to indicate that fallout from the U.S. banking crisis is likely to tilt the economy into recession later this year. Minutes from the March meeting of the Federal Open Market Committee (FOMC) included a presentation from staff members on potential repercussions from the failure of Silicon Valley Bank and other tumult in the financial sector that began in early March. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss a report from the Labor Department indicating that US producer prices unexpectedly fell in March as the cost of gasoline declined, along with signs that underlying producer inflation was subsiding. Chris and Saied look at analyst's estimates, suggesting that deposits at JPMorgan Chase, Wells Fargo and Bank of America will tumble $521 billion from a year earlier, the biggest drop in a decade. They also offer some thoughts on criminal fraud charges brought by the Department of Justice against Charlie Javice, founder and former CEO of Frank, a startup college financial planning company for students, in which they allege that she "engaged in a brazen scheme" when she sold her company to JPMorgan Chase in 2021. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "US consumer prices rise moderately; underlying inflation too hot" (Reuters) "US labor market gradually losing steam; producer inflation cooling" (Reuters) "U.S. producer prices unexpectedly fall in March" (Reuters) "Fed expects banking crisis to cause a recession this year, minutes show" (CNBC) "Top US banks to reveal $521 billion deposit drop, the most in a decade” (Bloomberg Business) "Deposit Crisis Sets Up a Tough First Quarter for All but the Biggest Banks" (The Wall Street Journal) "The Fed’s efforts to fight housing inflation by hiking interest rates has backfired, Cramer says" (CNBC) | |||
| 09 May 2023 | The Fed Kills Banks, the Aftermath and the Galactic Menagerie | 01:18:45 | |
Employment openings pulled back further in March, hitting a nearly two-year low in a sign that the ultra-tight U.S. job market is loosening and possibly putting less pressure on inflation, according to a report by the Labor Department. The department’s Job Openings and Labor Turnover Survey showed that job vacancies totaled 9.59 million for the month, down from 9.97 million in February and below the FactSet estimate for 9.64 million. At the same time, layoffs and discharges jumped by 248,000 to just over 1.8 million, taking the rate as a share of the workforce up to 1.2% from 1%. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss a report from payroll processing firm ADP that states that private payrolls rose by 296,000 for April, above the downwardly revised 142,000 the previous month and well ahead of the estimate for 133,000. Chris and Saied look at Fed Chair Jerome Powell's recent press conference, in which he said that, "The run on Silicon Valley Bank was out of keeping with the speed of runs through history. And that now needs to be reflected in some way in regulation and in supervision.” They also offer some thoughts on the recent increase in the Fed's target range for its benchmark interest rate by 0.25%, while leaving its options open on future rate hikes. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Dow tumbles more than 300 points as banking sector worries reignite before Fed rate decision" (CNBC) "Job openings fell more than expected in March to lowest level in nearly two years" (CNBC) "Private payrolls surged by 296,000 in April, much higher than expected, ADP says" (CNBC) "Fed recap: Here are Chair Powell’s market-moving comments after the latest rate hike" (CNBC) "Federal Reserve pushes interest rates above 5% for first time since 2007" (Yahoo! Finance) "Exclusive: US officials assessing possible 'manipulation' on banking shares" (Reuters) "Apple reportedly attracted $1 billion in deposits into its new high-yield savings account in just 4 days" (BusinessInsider) | |||
| 07 Nov 2023 | The Fed Leaves Rates Unchanged, Stickier Inflation & Finally M&A | 01:08:27 | |
The boys called it, The Fed has left rates unchanged. Granted, it wasn't that hard of a call as all the data seemed to suggest that was the overwhelming likely result. Yet, somehow Jamie Dimon came out sounding hawkish after Jerome Powell came out dovish. Adjustable-rate mortgage demand jumps nearly 10% and Wells Fargo is now warning of a 1980s style recession. Confused, don't be. Saied, Chris and Haroon are here to break it all down and make sense out of all this chaos. All facts, no cap. Bars. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: The Federal Reserve leaves rates unchanged. Here’s what that means for your wallet (CNBC) JPMorgan CEO Jamie Dimon suspects Fed 'may not be done' raising rates amid 'stickier' inflation (Yahoo! Finance) Adjustable-rate mortgage demand jumps nearly 10% as buyers struggle to afford housing market (CNBC) M&A to explode in 2024 as roughly 1,200 companies are expected to run out of money (Yahoo! Finance) Housing Market Crash: Wells Fargo Warns of 1980s Recession (Investor Place) Private sector payrolls rose 113,000 in October, less than expected, ADP says (CNBC) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 21 Oct 2022 | A 100% Probability of Recession, Zillow Fumbles the Bag and Q&A | 01:05:35 | |
This week several reports are being delivered, including the New York Fed's Empire State Manufacturing Survey, the National Association of Homebuilder's Housing Market Index, the Fed's industrial production data for September and the latest Beige Book on current economic conditions among its 12 districts, as well as the Census Bureau's new residential construction data for September. The predictions for these reports range from 'no change' to 'really bad.' In today's episode of The Higher Standard, Chris and Saied discuss the one report that has already been released, the Federal Reserve Bank of New York's Empire State Manufacturing Survey, and the 'modest decline' being seen in manufacturing in the state. They discuss a recent presentation by National Association of Realtors chief economist Lawrence Yun, who predicted that interest rates could be on their way to 8.5% if they pass a threshold of 7%, basing his forecast on key levels of resistance borrowing costs will face after a key inflation indicator hit a 40-year high. Chris and Saied look at Bloomberg's prediction that a US recession is effectively certain in the next 12 months, representing a blow to President Joe Biden’s economic messaging ahead of the November midterms. They discuss a new House Prices to National Average Wage Index created by CalculatedRisk to address the difficulties of comparing the ratio of house prices to incomes, when most income data is released with a significant lag. Chris and Saied also explore Zillow's bold (and deeply flawed) prediction that the so-called pandemic housing boom would see U.S. home prices soar another 17.8% between February 2022 and February 2023. Join Chris and Saied for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Forecast for US Recession Within Year Hits 100% in Blow to Biden" (article from Bloomberg) "Mortgage rates could continue rise to 8.5%: NAR" (article from TheRealDeal) "Stocks Poised to Open Higher on Monday" (article from Barron's) "House Prices to National Average Wage Index" (article from CalculatedRisk) "Empire State Manufacturing Survey" (article from the New York Federal Reserve) "Where home prices in your local housing market are headed in 2023, according to Zillow’s revised forecast" (article from Fortune) | |||
| 06 Jun 2023 | A Record Plunge, Goldman goes from Bad to Worse and Landlord Problems | 01:17:06 | |
Goldman Sachs is preparing for its third round of layoffs since September as Wall Street firms adjust to a slump in deals activity. The company is expected to trim fewer than 250 jobs in the coming weeks. Goldman Sachs, led by CEO David Solomon, was among the first major Wall Street firms to trim jobs in September, cutting a few hundred positions. It then slashed more jobs in January, releasing about 3,200 employees. Morgan Stanley announced about 3,000 job cuts this month, and JPMorgan Chase cut about 500 jobs. However, Goldman is more tied to the ups and downs of Wall Street than its rivals. Its combined 16% drop in first-quarter trading and advisory revenue contributed to a disappointing start to the year. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss a report from Refinitiv's FedWatch, indicating that U.S. rate futures on Wednesday priced in a pause in interest rate hikes by the Federal Reserve at next month's monetary policy meeting, a massive turnaround from indications of a 25 basis-point increase earlier in the session. Chris and Saied look at a report from payroll processing firm ADP, showing that the U.S. labor market posted another month of surprising strength in May as companies added jobs at a pace well above expectations. They also offer some thoughts on the tumble the stock market took on Wednesday, as the Dow Jones Industrial Average fell 0.4%, or 150 points, by 3:15 p.m. ET, while the S&P 500 and the tech-heavy Nasdaq slid 0.5% apiece. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Dow falls 130 points after FDIC reveals record plunge in bank deposits" (Forbes via Instagram) "US rate futures expect Fed pause in June in sharp turnaround from earlier" (Reuters) "Goldman Sachs is cutting jobs again amid Wall Street deals slump" (CNBC) "Job openings show surprise increase in April" (Yahoo! Finance) "Private payrolls rose by 278,000 in May, well ahead of expectations, ADP says" (CNBC) "Pending home sales unchanged in April, down 20% year-over-year" (CNBC) "Market Capitalization: What It Is and Why It Matters" (NerdWallet) | |||
| 01 Aug 2023 | The Fed Raised Rates 25bps And The Boys Are Fed Up | 01:04:41 | |
Welcome back to the number one financial literacy podcast in the world! It’s The Higher Standard. Saied, Chris and Haroon come out swinging in Episode 163 and they are no pulling in punches in their thoughts on The Fed’s latest 25bps interest rate increase. Join us as the boys go deep, real deep, in to the US economy, GDP and give you a historical look at the Fed Funds Rate with a 62 Year Historical Chart. It also marks the third episode of back-to-back appearances by Haroon who had been out sick for three consecutive episodes. Resources: US economy blows past expectations: 3 quick takeaways (The Hill) GDP grew at a 2.4% pace in the second quarter, topping expectations despite recession calls (CNBC) Federal Funds Rate - 62 Year Historical Chart (Macrotrends) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 13 Feb 2024 | Jerome Powell Did Community Banks Dirty | 01:08:55 | |
In this exhilarating episode 216 of The Higher Standard Podcast, Chris, Saied, and Haroon dive into the the tumultuous tumble of regional bank stocks, led by New York Community Bancorp's dramatic diva moment — cutting dividends and flaunting losses like it's going out of style. But don't let NYCB's solo act fool you; while they're busy singing the blues and getting sued by shareholders for a throwback to their 1997 stock price, Moody’s isn't here for the nostalgia, slapping them with a junk rating faster than you can say "financial meltdown." Meanwhile, Powell plays it cool, promising rate cuts with the enthusiasm of a parent telling their kids they’ll think about getting a puppy. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: Regional Bank Stocks Fall After New York Community Bancorp Cuts Dividend, Posts Loss (The Wall Street Journal) New York Community Bank’s Problems Look Mostly to Be Its Own (The Wall Street Journal) New York Community Bancorp is sued by shareholders as stock sinks to 1997 level (Reuters) Moody’s Cuts NYCB to Junk, Extending Sharp Decline in Shares (The Wall Street Journal) Powell insists the Fed will move carefully on rate cuts, with probably fewer than the market expects(CNBC) Credit card delinquencies surged in 2023, indicating ‘financial stress,’ New York Fed says (CNBC) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 19 Sep 2023 | Inflation, Income, Home Prices & A 3 Star Review | 01:09:15 | |
With an uncharacteristically early recording time, the boys come in extra hot and caffeinated. Saied finally admits to being 1 of the podcast's one star reviews; however, the show did receive a real, legitimate 3 star review from a listener. We wanted to address it head on and talk about the data behind the insurance position which upset someone. They, of course, save the expletive filled rage for the end of the show. This episode covers all the underlying detail of the latest inflation print which continues to show that the real cost of living is likely higher for most consumers. Then Chris and Saied pivot to an article on banks having $1.2 trillion dollars in "hot" deposits which they believe signals a much larger concern. Home prices according to Zillow seem to suggest that there have been tremendous gains still despite even some areas having lived through minor corrections in recent months. What does this mean? Saied and Chris will tell you their thoughts. Make sure to stay tuned all the way to the end because this one gets extra sassy in the last quarter of the show. Resources: Here’s the inflation breakdown for August 2023, in one chart (CNBC) Banks Load Up on $1.2 Trillion in Risky ‘Hot’ Deposits (Wall Street Journal) Real incomes fell last year. No wonder Americans were bummed out (Axios) Home price shift, as tracked by the Zillow Home Value Index (ZHVI) (Lance Lambert via X) August core inflation, excluding food and energy, rose 0.3%, hotter than expected (CNBC) Fears over access to credit hit highest level in more than a decade, New York Fed survey shows (CNBC) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 27 Feb 2024 | Economic Conspiracy, Trump Sneakers & AI Problems | 01:38:17 | |
The boys are off and running with shenanigans from the beginning. Haroon inadvertently opens his energy drink before the show started so he can't entertain you with his usual unnecessary interruptions, but don't worry, he filled his can with water for reasons we still don't fully understand. They spend a good amount of time recapping Jerome Powell's commentary from Jackson Hole, Wyoming which were clearly designed to strike fear in to the markets. One of their favorite economists, Mohamed El-Erian is very concerned that the Fed's actions to date may have 'destroyed the housing market by crushing both supply and demand.' Which was a fantastic segue in to the complete trash nonsense that Zillow is attempting to market. What do you do when home affordability is at an all time low? Rates are rising, home values haven't come down. Well, if you're Zillow, you offer a 1% down payment program to lure in homebuyers so you can sell more leads to Realtors. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: Japan is no longer the world's third-largest economy as it slips into recession (CNBC) 0.3% decline in Q4 GDP (Mohamed A. El-Erian via X) U.S. Layoffs more than double month-over-month to start 2024 (Yahoo Finance) Frigid temperatures chill US retail sales, factory production (Reuters) Investors bought 26% of low-priced US homes that sold in Q4 2023 (The Kobeissi Letter via X) Excess Supply Of Apartment Deliveries Now, But Possible Shortages By 2026 (Forbes) What to know about the debut of Trump's $399 golden, high-top sneakers (NPR) Data Show the Economy Is Booming. Wall Street Thinks Otherwise (The Wall Street Journal) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these... | |||
| 20 Sep 2022 | CPI is Now Irrelevant, the World Housing Crisis and Kanye West | 00:51:59 | |
According to an article from Bloomberg, homebuyers are pulling back as central banks raise interest rates at the fastest pace in decades, sending house prices tumbling. Meanwhile, millions of people who borrowed cheaply to purchase homes during the pandemic boom face higher payments as loans reset. In today's episode of The Higher Standard, Chris and Saied discuss this painful housing reset in some of the hottest markets around the world, even as some so-called influencers continue to claim that house prices won't fall in the U.S. - even though they already are. They discuss the increase in rent that appears to be rising as fast as the cost of buying (as in, rising interest rates). The latest figures from the Mortgage Bankers Association and the US Census Bureau show that rents have risen approximately 10% since the fourth quarter of 2020. They look at Fed Governor Christopher Waller's comments that he expects to raise the central bank’s benchmark interest rate 75 basis points this month, though he’s open to a larger move depending on incoming data. Chris and Saied also revisit the Inflation Reduction Act (Chris is still not a fan) and explain why it really is about printing money, despite what the naysayers claim. This is a show you do not want to miss! Join Chris and Saied for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
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| 03 Nov 2023 | What All This Debt Could Mean For You | 01:22:41 | |
Chris, Saied and Haroon unpack the outstanding mortgage market by rate before hopping in to an example of how tenuous the business has become for lenders and their employees. Then they dive in to some chart work with sexy visual stimulus regarding the current state of the consumer credit market. To round off the show ahead of jumping in to Saied's self-inflated basketball ego, they boys take a look at Americans' net worth at every age. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: Outstanding mortgages by their mortgage rates (Kobeissi Letter via X) The Mortgage Market Is So Bad Lenders Want Ex-Employees to Give Back Their Bonuses (Wall Street Journal) Credit card balances in the U.S. have crested at $1 trillion (CNBC Chart of the Day via Instagram) Here’s Americans’ net worth at every age—for people under 35, it’s up 142% (CNBC) Fed's preferred inflation gauge shows biggest monthly jump since May (Yahoo! Finance) M&A to explode in 2024 as roughly 1,200 companies are expected to run out of money (Yahoo! Finance) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 24 Jan 2023 | Crypto, BNPL, AMEX Crushes it and Chris Hates Shark Tank | 01:14:23 | |
The SEC are suing two crypto brokerages - Genesis Global Capital and Gemini Trust Co. - for breaking securities rules. The SEC says that the firms illegally raised billions of dollars from hundreds of thousands of investors through the so-called Gemini Earn program. That product, which let customers loan out their assets in exchange for interest payments, amounted to the offering of unregistered securities. Gemini launched Earn in February of 2021, with the idea of offering users passive returns on their coins in exchange for the right to lend the tokens out. By August, the program, which offered rates that far exceeded those on traditional bank accounts, crossed $3 billion in assets. In this episode of The Higher Standard, Chris and Saied examine this news and try to determine what it means for the embattled crypto industry as a whole. They discuss the problem with fake followers and accounts on social media and how people can use these tactics to attack others and get social accounts blocked or even banned. Chris and Saied look at the difficulty with artificial intelligence and why Congress may be too late to the party in trying to regulate it and anything to do with the internet. They also offer some thoughts on a reportedly 'risky' move by American Express, in which they have reinvented the Platinum card to make it more desirable to younger urbanites, increasing the annual fee well above those of its competitors - a strategy which seems to have worked. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "FTX finds over $5 billion in liquid assets, judge extends ruling keeping creditor names secret" (article from Yahoo! Finance) "Microsoft reportedly plans to invest $10 billion in creator of buzzy A.I. tool ChatGPT" (article from CNBC) "Coinbase to lay off 20% of workers in latest sign of crypto industry pain" (article from Yahoo! Finance) "The SEC is suing crypto brokerages Genesis and Gemini" (Bloomberg Business via Instagram) "The ‘Buy Now, Pay Later’ Bubble Is About to Burst" (article from The Atlantic) "AmEx Hooked Big Spenders and Regained the Throne With a Pricier Platinum Card" (article from Bloomberg) | |||
| 25 Aug 2023 | C&I Lending Is Shifting, Car Prices & How To Get Rich & Famous | 01:04:33 | |
Business loans, also known as “Commercial and Industrial” lending is shifting as the landscape of the economy pivots. The boys break down what you need to know and what this means for you. They spend some time on the generational differences in the expectation of workers as they dive in to a CNBC article that states “American workers are demanding almost $80,000 a year to take a new job.” In what is arguably the world’s worst segue they jump in to the car market and some of the changes the industry is experiencing that are early indicators of strain on the consumer. Chris provides a colorful backstory on the never-ending “beef” between Nouriel Roubini and CZ. Saied awkwardly forces in an unnecessary article on mortgage rates to cap the show and Haroon fumbles the audio, but blames it on the “inter-webs.” We also got a new, spectacular review. We appreciate every single one, so much. Thank you! Also, if you haven’t, we are not friends. No pressure…. Resources: Commercial and industrial lending falls again this week, but lending by small banks is up (Market Watch) American workers are demanding almost $80,000 a year to take a new job (CNBC) Car Prices Might Be Unsustainable for Buyers (Wall Street Journal) How to Get Rich and Famous From a Stock Market Crash (Wall Street Journal) Mortgage rates hit their highest point since 2000 (CNBC) Toronto Mortgage Rates 1981 (Instagram) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 09 Jul 2024 | EBITDA Explained, Inflation Persists & Hawk Tuah | 01:16:26 | |
Welcome back to another episode of The Higher Standard podcast, where Chris, Saied, and Haroon dive into the latest in finance, investing, and pop culture. Today, we're breaking down some intriguing insights and bringing a touch of humor to your financial woes. First up, the boys aim to demystify "EBITA" – yes, we know you probably thought it was a hip new tech term, but no, it’s just Earnings Before Interest, Taxes, and Amortization. ➡️ And just when you thought this episode couldn’t get any more eclectic, we shift gears to the world of entertainment. Will Smith made a heartwarming return to music with his BET Awards performance, Jamie Foxx spills the beans on his mystery illness, and J.J. Redick has some thoughts about the Lakers drafting Bronny James. 💥 Have you left your "honest ⭐️⭐️⭐️⭐️⭐️" review? 🏆 Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. ✔️ Click the link and start today: http://www.transcendcompany.com/THSP 👕 THS MERCH: http://www.thspod.com 🔗 Resources: EBITA Explained (Nicolas Boucher via LinkedIn) Where do wealthy younger and older investors see the greatest potential for growth? (CNBC Chart of the Day via Instagram) Key Fed measure shows inflation rose 2.6% in May from a year ago, as expected (CNBC) Fed’s preferred inflation gauge shows prices rose at slowest pace since March 2021 (Yahoo Finance via Instagram) ⚠️ Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 18 Jul 2023 | Inflation Breakdown and How to Interview for a Job | 01:22:22 | |
Goldman Sachs has embraced a new plan to avoid a third straight quarter of disappointing investors on earnings day. Breaking with its own long-standing convention, Goldman executives have been actively downplaying expectations for results that will be disclosed next week. The outcome: Analysts have slashed their estimates for quarterly profit by almost half since mid-June — the biggest revision before an earnings report under CEO David Solomon. That translates into one of the steepest profit drops among peers, and a return on equity that could slip below 5%. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss an analysis by Realtor.com indicating that rent in the 50 largest U.S. cities is now cheaper than it was a year ago, with significant decreases in southern cities that were real estate hotspots during the pandemic. Median rent prices in these cities dropped by 0.5% in the last year. Chris and Saied look at a report stating that former Celsius CEO Alex Mashinsky was arrested Thursday, as federal regulators announced his bankrupt crypto exchange Celsius would pay a $4.7 billion fine. They also offer some thoughts on the consumer price index (CPI) which has increased 3% from a year ago, the lowest level since March 2021. On a monthly basis, the index, which measures a broad swath of prices for goods and services, rose 0.2%. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "US Inflation Hits Two-Year Low, Giving Hope for End to Fed Hikes" (Bloomberg) "Goldman breaks its own rule to flag results much worse than rivals" (Bloomberg Business via Instagram) "These are the US cities where the rent has fallen the most since last year" (CNBC via Instagram) "Former Celsius CEO arrested, company agrees to pay $4.7 billion settlement" (CNBC via Instagram) "Inflation rose just 0.2% in June, less than expected as consumers get a break from price increases" (Chart of the Day via Instagram) "Inflation Eased to 3% in June, Slowest Pace in More Than Two Years" (The Wall Street Journal) "Inflation rose just 0.2% in June, less than expected as consumers get a break from price increases" (CNBC) | |||
| 16 Sep 2022 | Amazon is Pulling Out, Bank of America Oops and Disney Almost Bought Twitter | 00:50:32 | |
It would appear that yet another prediction made by Chris and Saied has proven itself true: The bond and treasury markets would start moving and put upward pressure on the 30-year mortgage rate. According to a headline from CNBC, mortgage demand from homebuyers has fallen 29% since last year, as interest rates surge past 6%. Application volume dropped 1.2% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. In today's episode of The Higher Standard, Chris and Saied discuss this data as well as Jerome Powell and the Fed's desire to be as communicative as possible as we approach a likely 75 basis point increase. They talk about Cineworld's reported decision to file for chapter 11 'reorg' to address a potential liquidity crunch, restructure more than $5 billion of debt and resolve a $950 million adverse court judgement. Chris also explains the difference between a reorg and a standard bankruptcy procedure. Chris and Saied look at Amazon's decision to reduce the size of its sprawling delivery operation amid slowing sales growth, by abandoning dozens of existing and planned facilities around the US. They also explore Bank of America's new loan program created for Black and Hispanic neighborhoods to boost homeownership where it lags. The result was a PR disaster that had some pundits claiming it was 'racist,' while others say the media misconstrued the intent. Either way, it's a mess. This is a show you do not want to miss! Join Chris and Saied for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
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| 09 Sep 2022 | 2023 is Going to be a Problem and Here is How it Impacts You | 00:47:16 | |
Recently, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, an economic indicator that measures the change in value of U.S. single-family homes on a monthly basis, picked up the first month to month price drops. All of them were found in the West, in the metros of Seattle, San Francisco, San Diego, Los Angeles, Denver and Portland. Normally, the index lags reality by approximately 4-6 months, but the numbers are telling. In today's episode of The Higher Standard, Chris and Saied explore these results as well as more evidence backing up a significant decline in housing demand - as Chris has been suggesting for some time now. Chris and Saied discuss the now unequivocal fact that people like Dave Ramsey and Lawrence Yun, the National Association of Realtors chief economist, were wrong in their assertions and predictions. They also review some of the interesting new data around new and existing home sales, and mortgage applications, all of which are going down. They discuss an article from Fortune magazine saying that Goldman Sachs now forecasts the U.S. housing market downturn will be worse in 2023. They predict sharp drops this year in new home sales of 22%, existing home sales of 17%, and housing GDP of 8.9%. They also discuss why many people seem to be clinging to the 'logical fallacy' of a growth recession - the idea that you can be in a recession and still have growth in the economy. This is a show you do not want to miss! Join Chris and Saied for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
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| 24 Nov 2023 | Inflation Drops, NAR Gets Popped & Racks and Bibles | 01:11:43 | |
October is in and it appears to have moderated, cooling measurably more than anticipated. Consumer prices rose 3.2 percent in the year through October, decelerating from the previous month and showing encouraging signs under the surface, but is it enough to keep Jerome Powell and The Fed data dependent and focused on the potential for future rate cuts? Saied, Chris and Haroon breakdown what they think "higher for longer" may mean and what you should actually expect. Walmart CEO says "deflation could be coming this holiday season" and the boys take the opportunity to remind you that they feel we are already in an earnings recession. Lastly, what would an episode of The Higher Standard be without a healthy degree of trash talk? Did you know that almost no one else in the world pays a 6% real estate commission outside of Americans? Join the boys as they dive in to how the rest of the world buys and sells homes. Oh! And, full disclosure, everyone had a cocktail or two this episode. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: October Inflation Report (New York Times) Wholesale prices fell 0.5% in October for biggest monthly drop since April 2020 (CNBC) Deflation could be coming this holiday season, Walmart CEO says (CNBC) Almost No One Pays a 6% Real-Estate Commission—Except Americans (Wall Street Journal) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 18 Oct 2022 | Inflation is a Problem, a Perfect Storm and the Worldwide Impact | 01:12:12 | |
The Consumer Price Index (CPI) was released on Thursday, and while the increases are not large, they do fall in line with predictions. In June, the CPI was 9.1%, in July it dropped slightly to 8.5%, and in August 8.3%. Then in September, it was 8.2%. This doesn't seem bad, until you realize that in the last 12 months, gasoline has risen by 18.2%, household energy by 20.8% and airfare by an eye-watering 42.9% In today's episode of The Higher Standard, Chris and Saied do a deep dive into these CPI numbers and what they mean for the ongoing fight against inflation. They discuss the thinking from various pundits and talking heads, who mistakenly believe they recognize the mistakes being made by the Fed as well as what it should and should not do. Chris and Saied look at recent comments by Ray Dalio, the founder, Co-Chairman and Co-Chief Investment Officer of Bridgewater Associates, in which he has warned of a "perfect storm" that will spread economic pain as the U.S. Federal Reserve raises interest rates. He also said that government stimulus programs during the pandemic have created a bubble. They discuss a recent article from Forbes reporting that the International Monetary Fund (IMF) downgraded its forecast for the global economy next year and warned inflation will be worse than previously expected due largely to the ongoing disruptions spurred by the war on Ukraine. Chris and Saied also explore another article claiming that, as home sales fall to the lowest level in years, a rash of industries tied to the housing market are starting to show signs of deterioration, with home builders, appliance makers and some retailers among those likely to take the biggest hit. Join Chris and Saied for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Where Inflation Is... and Isn't" (Yahoo! Finance via Instagram) "PepsiCo Raises Forecasts After Q3 Boosted by Higher Prices" (article from US News) "Bridgewater's Dalio warns of a 'perfect storm' for economy" (article from Reuters) "‘Ridiculously stupid’ economic policies have the U.S. hurtling toward a ‘perfect storm’ of economic pain, Ray Dalio says" (article from Fortune) "Housing Market ‘Contagion’: Collapse Threatens Spillover Effects In These Major Industries" (article from Forbes) "Home prices are falling fastest in these 10 U.S. cities" (article from CBS News) "MBA: Mortgage Credit Availability was Never Excessive During the Recent Housing Boom" (article from CalculatedRISK) | |||
| 12 Jan 2024 | Mounting Debt, Real Estate Agents & Drugs | 01:32:03 | |
This is an eclectic episode where the boys talk about boiling frogs and somehow relate it to the $34 trillion mountain of nation debt. Then they dive right in to how the pain in the real estate market is now beginning to have a heavy impact on Realtors with 45% of US real estate agents saying they're struggling to pay rent. If buying a home wasn't bad enough, home and auto insurance is becoming nothing short of impossible. It could be worse though, if you're the National Association of Realtors president who announced she is resigning after a "blackmail threat." Then to cap off the show, Chris, Saied and Haroon dive in to how the insanely high rent in most markets is impacting Gen Z. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: The $34 trillion mountain of national debt is a 'boiling frog' situation for the US economy, JPMorgan warns (Business Insider) Buying Home and Auto Insurance Is Becoming Impossible (Wall Street Journal) National Association of Realtors president says she is resigning after blackmail threat (CNBC) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 10 Feb 2023 | Jobs Report Crushes Dreams, China Spying and Toilets, Glizzies and Heathers | 01:27:43 | |
Employers added more jobs in January than expected, while the unemployment rate fell to a 53-year low, underscoring the resilience of the labor market despite the Fed's aggressive tightening campaign. Nonfarm payrolls increased 517,000 last month after an upwardly revised 260,000 gain in December. The figure beat all estimates from economists, who called for a 188,000 gain in payrolls. The unemployment rate dropped to 3.4%, the lowest since May 1969, and average hourly earnings grew at steady pace. In this episode of The Higher Standard, Chris and Saied examine this news, and determine the effect this will have on the economy as a whole. They discuss ARK Investment Management CEO Cathie Wood’s comments that ARK is "the new Nasdaq," adding that her flagship fund now gives investors better exposure to long-term innovation than most of the market’s most popular growth stock benchmarks. Chris and Saied look at a report stating that benchmark 10-year U.S. Treasury yields hit four-week highs after the recent employment numbers raised expectations that the Fed's rate hikes will not end with a hard economic landing, and that the U.S. central bank may have more than one more rate increase left. They also offer some thoughts on Blackstone's plans to ramp up evictions to help its struggling real estate investment trust. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "US adds 517,000 jobs in January, far exceeding economists forecasts" (Bloomberg Business via Instagram) "Jobs Report Tells Markets What Fed Chairman Powell Tried to Tell Them" (article from Barron's) "A New Supercycle Is Starting, Says This Macro Strategist. How to Invest." (article from Barron's) "Cathie Wood says AARK is "the new Nasdaq" (Bloomberg Business via Instagram) "Binance to Suspend US Dollar Transfers Using Bank Accounts" (article from Bloomberg) "TREASURIES-Yields hit four-week highs, Fed expected to hike above 5%" (article from Yahoo! Finance) "Blackstone ramps up tenant evictions" (TheRealDeal via Instagram) | |||
| 29 Jul 2022 | A Big Week For The Economy and the White House Is A Bully | 00:53:33 | |
In today's episode of The Higher Standard, Chris examines the big economic news coming out of the Bureau of Economic Analysis. He breaks down some of the numbers and predictions and offers some insights and opinions on where he thinks we're headed. In this episode you'll discover: - Why the recession is being called, 'two consecutive quarters of negative GDP growth.' - The TWO distinctly different definitions for a recessionary economy. - The ongoing battle between Elon Musk and Twitter. This is a show you do not want to miss! Join Chris for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
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| 28 Mar 2023 | Janet Yellen vs. Jerome Powell, a Recession Looms and Millennials Messed Up Everything | 01:36:20 | |
Recession chatter has returned on Wall Street as markets deal with the blow of several bank failures and the potential economic aftermath. The likelihood of a U.S. recession is back on the rise for the first time since November 2022, according to the latest Bank of America fund manager survey released on Tuesday. About 42% of fund managers surveyed see a recession happening within the next 12 months, up from 24% in February. While fund managers aren't in universal agreement on a recession, they are almost in unison on the economy being stagnant over the next 12 months. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss data released by the Census Bureau, stating that housing starts, a measure of new home construction, rose by 9.8% in February from January, though that’s still down 18.4% from a year ago. Starts in January rose to a seasonally adjusted annual rate of 1.450 million, up from the revised January estimate of 1.321 million. Chris and Saied look at news that the Securities and Exchange Commission has unveiled fraud and unregistered securities charges against crypto founder and Grenadian diplomat Justin Sun, alongside separate violations against the celebrity backers of his Tronix and BitTorrent crypto assets, which included Jake Paul, Lindsay Lohan and Soulja Boy. They also offer some thoughts on a review by Bloomberg News indicating that, in terms of layoffs, 2023 had the the worst start to a year since 2009, with nearly 52,000 jobs lost in one week in January alone. Since Oct. 1, executives across sectors have sacked almost half a million employees around the world. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Yellen: U.S. Could Intervene Again to Protect Banking System" (video from The Wall Street Journal) "Home Prices Fell in February for First Time in 11 Years" (article from The Wall Street Journal) "Global layoffs stretch far beyond big tech" (Bloomberg Business via Instagram) "‘Already past the point of no return’: JPMorgan says the U.S. is probably headed for a recession as economic ‘engines are about to turn off’" (article from Fortune) "Gen Z is racking up credit card debt faster than any other generation" (Businessweek via Instagram) "BofA: 'Recession fears are up in March'" (article from Yahoo! Finance) | |||
| 18 Nov 2022 | The Ultimate Fumble of the Bag Sponsored by FTX | 01:20:08 | |
Unless you've just arrived from another planet, you've likely heard something about FTX, a high-profile, Bahamas-based cryptocurrency that has filed for bankruptcy amid allegations of fraud against Sam Bankman-Fried (known as SBF), its philanthropist founder. Cryptocurrency is a subject that many seem to be talking about, but that few understand fully. In today's episode of The Higher Standard, Chris and Saied take a deep dive into the subject, providing explanations of some of the basic terminology, along with insights into the history of cryptocurrency. The goal is to give you a clearer picture of what's happening the crypto space in light of the FTX collapse. They discuss and demystify concepts such as the blockchain, exchanges and the overall promise of cryptocurrency as an alternative to existing fiat currency. Chris and Saied examine the FTX collapse, including the allegations against founder Sam Bankman-Fried, who was involved and what it means for other cryptocurrencies. They also discuss the confusion surrounding the blue verification check mark on Twitter, in light of the massive changes brought about by new owner Elon Musk. Join Chris and Saied for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
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| 19 May 2023 | Consumer Debt Hits New High, Burry Believes in Bank and JP Got Bars | 01:16:10 | |
Total consumer debt hit a fresh new high in the first quarter of 2023, pushing past $17 trillion even amid a sharp pullback in home borrowing. According to a report from the New York Federal Reserve, the total for borrowing across all categories hit $17.05 trillion, an increase of nearly $150 billion, or 0.9% during the January-to-March period. That took total indebtedness up about $2.9 trillion from the pre-Covid period ending in 2019. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss news that famed short-seller Michael Burry and his hedge fund, Scion Asset Management, snapped up 150,000 shares of First Republic prior to its purchase by JP Morgan, worth about $2 million at the end of the first quarter. Chris and Saied look at A Gallup poll indicating that 36% of US adults say they have a “great deal” or a “fair amount” of confidence that the Federal Reserve chairman would do or recommend the right thing for the economy, a precipitous drop which is now at or below his predecessors’ as the central bank wages its war against inflation. They also offer some thoughts on recently-released Federal Reserve data, showing that deposits at U.S. banks climbed to $17.16 trillion in the week ended May 3, up about $67 billion, ticking up from the lowest level in nearly two years while bank lending was little changed at a record level. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "With $1B in back rent due, LA landlords struggle to survive" (The RealDeal via Instagram) "Consumer debt passes $17 trillion for the first time" (CNBC via Instagram) "Michael Burry loaded up on bank stocks during the banking crisis" (Bloomberg Business via Instagram) "Paul Tudor Jones says the Fed is done raising rates, stocks to finish the year higher" (CNBC via Instagram) "Confidence in Jerome Powell has plunged to a record low" (Bloomberg Business via Instagram) "What happens when the prophecy of the blockchain fails?" (Bloomberg Business via Instagram) "U.S. bank deposits rise in early May, lending little changed at record high" (Reuters) | |||
| 30 Jul 2024 | Financial Terms You Didn't Know You Needed To Know | 01:36:37 | |
We get it. Some times on The Higher Standard podcast we throw around a lot of financial terms that not everyone is familiar with. Chris, Saied and Haroon aim to fix that, in part, by practically defining a lot of financial terms for you that you didn't know you needed to know in episode 240 of the show. ➡️ From balance sheets to high yield savings accounts. From securities to bonds. From EPS to P/E ratios. We got you covered. 💥 Have you left your "honest ⭐️⭐️⭐️⭐️⭐️" review? 🏆 Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. ✔️ Click the link and start today: http://www.transcendcompany.com/THSP 👕 THS MERCH: http://www.thspod.com 🔗 Resources: What Is an Asset? Definition, Types, and Examples (Investopedia) Net Worth: What It Is and How to Calculate It (Investopedia) The Bond Market and Debt Securities: An Overview (Investopedia) What Is the Formula for Calculating Earnings per Share (EPS)? (Investopedia) Price-to-Earnings (P/E) Ratio: Definition, Formula, and Examples (Investopedia) ⚠️ Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 30 Dec 2022 | Q&A Gone Wild | 01:16:53 | |
The listeners have questions, and Chris and Saied are here with answers! This time out, the boys are answering burning questions submitted by the audience. At the end of the show, Chris and Saied choose their favourite question out of the ones submitted and award the lucky listener a $100 prize! In this episode, Chris and Saied examine the continuing aftermath of the FTX collapse, speculating as to why disgraced CEO Sam Bankman-Fried was allowed to return to his parent's home. They discuss the pros and cons of replacing the antiquated title system used in real estate with modern web3 technology, such as the blockchain, making the information more accessible. Chris and Saied look at the reasons why a recession has only been hinted at or predicted, but not "officially" announced, despite evidence seemingly supporting the existence of one. They also offer opinions on the tech sector and whether or not they think it will underperform compared to energy and finance in the next decade. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
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| 21 Feb 2023 | Expectations Blown Away, Record Consumer Debt and Chris' Soapbox | 01:13:38 | |
Retail sales rose far more than expected in January as consumers persevered despite rising inflation pressures. According to the report by the COmmerce Department, advance retail sales for the month increased 3%, compared with expectations for a rise of 1.9%. Excluding autos, sales rose 2.3%, which is not adjusted for inflation. The ex-autos estimate was for a gain of 0.9%. In this episode of The Higher Standard, Chris and Saied examine this news and try to determine what effect it will have on the economy and the seemingly ever-present inflation. They discuss comments from St. Louis Federal Reserve President James Bullard, who said that continued Federal Reserve rate increases will “lock in” slowing inflation even with continued economic growth. He also says it's likely that the economy will slow and the unemployment rate rise towards its “longer-run natural level,” something economists define as consistent with stable inflation and in the case of the United States estimated by Fed policymakers as around 4%. Chris and Saied look at data from mortgage technology and data provider Black Knight Inc. showing that some of the most popular pandemic boomtowns such as Phoenix and Seattle, as well as popular West Coast cities like San Jose and San Francisco, posted home price declines of more than 10% from their 2022 peaks. They also offer some thoughts on a report from the Labor Department, which indicates that inflation rebounded in January at the wholesale level, as producer prices rose more than expected to start the year. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "CPI shows US inflation still sticky and slowing grudgingly in January" (article from MarketWatch) "Fed's Bullard: Further rate increases would "lock in" disinflation" (article from Reuters) "Zillow says the home price correction is winding down—here’s what 28 other forecast models have to say" (article from Fortune) "Map: Here's where home prices are dropping the most" (article from Yahoo! Finance) "Here’s the breakdown of the inflation report for January — in one chart" (article from CNBC) "Retail sales jump 3% in January, smashing expectations despite inflation increase" (article from CNBC) "Consumer debt hits record $16.9 trillion as delinquencies also rise" (article from CNBC) | |||
| 11 Aug 2023 | Inflation Tamed, A Government Recession & Haroon Wears Salmon | 01:10:31 | |
The boys are finally back together again. Haroon has welcomed the birth of his second daughter and Saied is back from his family’s Hawaiian vacation. To start the show Chris, Saied and Haroon wanted to emphasize their thoughts and prayers are with the people of Maui who have been impacted by this tragic and devastating fire. After which, they jump in to Ray Dalio’s interesting recession perspective. Saied gives a complete rundown of July’s inflation numbers and Chris continues to declare that the JOLTs report is manipulated and can’t be trusted. Something interesting is happening in Minneapolis, home prices hit a record high in 60% of U.S. markets and credit card debt hits a record high at $1 trillion dollars. Then, despite Chris thinking that asking for reviews was a colossal waste of time, we got several new amazing honest five star reviews. This of course continues to prove that 50% of the time Chris is wrong, every time. Resources: July CPI report shows inflation gauge rose 3.2%, less than expected (CNBC) US economy adds 187,000 July jobs in sign labor market is cooling (The Guardian) First American City to Tame Inflation Owes Its Success to Affordable Housing (Bloomberg) Home prices hit record highs in 60% of U.S. markets (CNBC) Rental housing cost rises to ‘slow significantly’ over next 18 months, Fed researchers say (Market Watch) Credit card debt hits a record high at $1 trillion, NY Fed says (Yahoo! Finance) Americans are pulling money out of their 401(k) plans at an alarming rate (CNN Business) July jobs report: U.S. payroll growth totaled 187,000, lower than expected (CNBC) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any... | |||
| 21 Jul 2023 | Home Price Regression, Two Economists and Two Road Trips | 01:01:22 | |
According to Federal Reserve data, the median sales price of homes sold peaked in the final quarter of 2022, reaching $479,000 before rising mortgage rates brought them back down. But April's S&P CoreLogic Case-Shiller report, which tracks national home-price changes, came in above expectations at 0.53% from the previous month. On the surface, the data suggests prices are on the rise again. But a July 11 note from Goldman Sachs strategists suggests that any optimism stemming from this lagging indicator would be premature. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss new checking and savings account data that shows Americans are better off now than before the pandemic, with nearly 10 to 15 percent more in their bank accounts than in 2019, despite new heights of inflation. Chris and Saied look at data compiled by the research firm Equilar Inc., indicating that total pay for top Hollywood executives soared during the height of the pandemic to $1.43 billion in 2021, up 50% from 2018. They also offer some thoughts on JPMorgan Chase & Co.’s Marko Kolanovic comments on the CPI for June, claiming that it has slightly increased the Federal Reserve’s chances of a “soft landing” — or taming inflation without triggering a downturn. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Nobel Prize-winning economist says there’s no need for the Fed to keep hiking interest rates" (CNBC) "Americans are still better off, with more in the bank than before the pandemic" (The Washington Post) "Here's how much Hollywood executives make" (LA Times via Instagram) "JP Morgan’s Kolanovic Sees ‘Modestly Wider’ Path to Soft Landing" (Bloomberg) | |||
| 15 Oct 2024 | Kobe, Cash Flow, & Chasing Dreams: A Laid-Back Financial Chat | 01:22:03 | |
The hosts take a hilarious trip down memory lane, reminiscing about the good old days of AIM (AOL Instant Messenger). They crack up over their embarrassingly bad usernames—ones that should probably never see the light of day again. You know that cringe-worthy online persona you thought was behind you? Turns out, it never really leaves! They dive into how their AIM alter-egos might still be haunting their present-day selves, proving once again that the internet never forgets. It’s a delightful mix of awkward nostalgia and a gentle reminder of how those early days of the internet shaped us all. ➡️ But it’s not all goofy usernames and AIM nostalgia. The conversation gets deeper (but still funny!) when they tackle how social media has made us all professional curators of our own lives. The hosts poke fun at the gap between the online versions of ourselves and the real deal, dropping truth bombs about authenticity and how everyone’s just trying to “fit in” online. And just when you think things couldn’t get more entertaining, they throw in some absurd ideas about modern marketing, suggesting brands take on the wild task of marketing to the homeless. It’s a genius blend of sharp social commentary and laugh-out-loud moments that’ll keep you thinking—and chuckling—long after the episode’s over. 💥 Have you left your "honest ⭐️⭐️⭐️⭐️⭐️" review? 👕 THS MERCH: http://www.thspod.com 🔗 Resources: Rate cuts were supposed to push mortgage rates lower. The opposite has happened. (AOL) US credit card interest rates hit 23.4% in August, a new record. (The Kobeissi Letter via X) ⚠️ Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 20 Feb 2024 | Mountains Of Debt, Influencers Are Fake & Circle Of Trust | 01:29:30 | |
Dive into the financial deep end with Chris, Saied, and Haroon for episode 217 of The Higher Standard podcast where they slice through the week's money maze with sharp wit and wisdom. From the dizzying heights of household debt mountains—mortgages to credit cards—revealed by The Kobeissi Letter, to decoding the inflation crystal ball before the big CPI reveal of 2024, they've got you covered. Don't miss their take on TikTok's "get-rich-quick" gurus, where the math's as fuzzy as a two-dollar wig, and the Airbnb arbitrage scandal that's left investors with pockets emptier than a politician's promises. They are brining all the smoke and dropping names of some of the most cliché of “influencers.” It's all about keeping it real with laughs, insights, and advice that could just save your financial bacon. Tune in for a rollercoaster ride through the money matters that matter! Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: Household debt, mortgages, auto loans, student loans, and credit card debt (The Kobeissi Letter via X) The first big inflation report of 2024 is coming out. Here’s what the CPI is likely to show (Market Watch) TikTok Influencers Promise They’ll Make You Rich. The Math Doesn’t Add Up (Rolling Stone) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 11 Nov 2022 | How to Build a Winning Business, No Negativity and Q&A | 01:46:20 | |
In light of the recent midterm elections and the seemingly endless wave of negative economic news, Chris and Saied have chosen to turn today's episode of The Higher Standard into a more educational exercise, cutting through the rhetoric and spin to help you become more informed. In today's episode Chris and Saied discuss the recent wave of layoffs from companies across the board, and attempt to determine when those layoffs may begin to slow as we enter the holiday season and year-end earnings reports. They offer some insights as to why so many new businesses struggle or even fail in their early days, and why entrepreneurs often get in their own way when running their business. Chris and Saied look at the process of trademarking your business identity, including the length of time it takes for a trademark application, and debunking some of the myths and misconceptions surrounding the process. They also discuss different types of corporations and partnerships, such as limited or general partnerships, C-corps LLCs. They explore each type and offer some thoughts on the benefits and drawbacks of each type. Join Chris and Saied for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
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| 27 Jun 2023 | Titanic Tragedy, Jerome Powell is Grilled & The Data Is Talking | 01:08:50 | |
Fed Chairman Jerome Powell has affirmed that more interest rate increases are likely ahead until additional progress is made on bringing down inflation. Speaking a week after FOMC officials decided for the first time in more than a year not to push rates higher, the central bank leader indicated that the move likely was just a brief respite rather than an indication that the Fed is done hiking. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss a forecast by London-based research firm Capital Economics, indicating that US office buildings are unlikely to regain their peak pre-pandemic values until at least 2040 as demand for desk space weakens. Chris and Saied look at a Labor Department report, stating that initial jobless claims held at 264,000 in the week ended June 17 after a slight upward revision to the previous week’s figures. This was above the median forecast of a survey of economists, who estimated 259,000 new claims. They also offer some thoughts on data from S3 Partners LLC, showing that total US short interest, or the amount traders have spent betting against US equities, exceeded $1 trillion this month as the S&P 500 Index extended its advance. The tally reached the highest since April 2022 before retreating slightly with stocks down for a third straight day. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Senator Elizabeth Warren pressures Federal Reserve Chair Jerome Powell on the SVB and FirstRepublic bank failures" (Bloomberg via Instagram) "Higher Interest Rates Hit Home Prices Again" (The Wall Street Journal) "Powell expects more Fed rate hikes ahead as inflation fight ‘has a long way to go’" (CNBC) "Fed Chair Powell says smaller banks likely will be exempt from higher capital requirements" (CNBC) "US Office Owners Get Dire Warning: Rebound Unlikely Before 2040" (Bloomberg) "US Jobless Claims Hold at Highest Level Since October 2021" (Bloomberg) "Short Bets on US Stocks Hit $1 Trillion, Most Since April 2022" (Bloomberg) "Existing Home Sales Unexpectedly Improve in May Amid Multi-Family Gains" (MSN) | |||
| 19 Dec 2023 | Tumultuous Times Ahead, Haroon On PTO & Uncertainty | 01:24:13 | |
Spoiler alert, Haroon is once again out on PTO. Man, The Higher Standard podcast must have some incredible employee benefits. So to honor the unsupervised recording, Chris and Saied elected to go almost entirely off script. No show notes, no structure, just two old friends talking about the economy and their lives. Chris and Saied dive in to what a "soft landing" for the U.S. economy means for you. They hop in to regional bank indexes pivoting past their "contagion period" losses to erase all the damage done by Silicon Valley Bank's collapse. And, the boys go H.A.M. on Janet Yellen who predicted a soft landing for the U.S. economy. This episode was so good that Haroon actually text the boys that he thought it was a really good listen and we all know he hates listening to this show. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: Economists now predict the U.S. is heading for a soft landing. Here's what that means.. (CBS News) Regional bank indexes just erased all losses since the fall of Silicon Valley Bank (Yahoo! Finance) Janet Yellen on Why She Predicts a Soft Landing for the U.S. Economy (The Wall Street Journal) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 28 Apr 2023 | Credit Doesn't Matter, Sam Zell is Downgrading Work from Home and the Repo Man | 01:16:55 | |
Many critics have blasted new rules from the Biden administration that will force good-credit homebuyers to subsidize the costs of buyers with poor credit. One former Obama housing official is calling out the "unprecedented" move, arguing this is "not the way" to bring in more home buyers. New rules from the Federal Housing Finance Agency (FHFA) will allow consumers with lower credit ratings and less money for a down payment to qualify for better mortgage rates than they otherwise would have. In turn, the costs are expected to be passed on the those with good credit. The rules are set to go into effect May 1. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss comments from tech investor Chamath Palihapitiya, who said two years ago that bitcoin had replaced gold and predicted the digital currency would climb to $200,000, who is now saying that "Crypto is dead in America," blaming its demise largely on regulators, who have gotten much more aggressive in their pursuit of bad actors in the industry. Chris and Saied look at reports that Bed Bath and Beyond has filed for Chapter 11 bankruptcy protection after it failed in several last-ditch efforts to raise enough money to keep the company alive. It had been warning of a potential bankruptcy since early January, when it issued a “going concern” notice that it may not have the cash to cover expenses after a dismal holiday season. They also offer some thoughts on real estate magnate Sam Zell's assertion that "Remote work is a bunch of bullshit," speaking at a luncheon at NYU’s Schack Institute of Real Estate as part of its annual REIT Symposium. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Former Obama housing chief slams Biden’s ‘unprecedented’ mortgage plan: ‘Not the way to do it’" (Fox Business) "Frank's Charlie Javice moved millions from JPMorgan to Signature months before the bank collapsed" (Bloomberg Business) "More US consumers are falling behind on payments" (Yahoo! Finance) "Amazon, Microsoft, Meta, Alphabet lead earnings rush: What to know this week" (Yahoo! Finance) "‘Crypto is dead in America,’ says longtime bitcoin bull Chamath Palihapitiya" (CNBC) "Meta has started its latest round of layoffs, focusing on technical employees" (CNBC) | |||
| 20 Jan 2023 | Inflation, Optimism, the World Bank and Eggs Will Make you Rich | 01:22:10 | |
Following a spike at the end of 2022, mortgage rates dropped sharply last week, driving demand from current homeowners hoping to save on their monthly payments, though it failed to excite potential homebuyers. The Mortgage Bankers Association’s seasonally adjusted index is reporting that the total mortgage application volume rose 1.2% last week compared with the previous week. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 6.42% from 6.58%, with points remaining at 0.73 (including the origination fee) for loans with a 20% down payment. That rate was 3.52% just a year ago. In this episode of The Higher Standard, Chris and Saied examine this news and try to make sense of what it means for the housing market and the economy as a whole. They discuss the effects recessions have had on the energy sector historically, such as lower oil demand, as well as a comment by Jerome Powell stating that price stability is the bedrock of a healthy economy. Chris and Saied look at comments from Ron Insana from Contrast Capital, stating that the current data don’t support concerns by the Fed and many other economists who worry about an emergent wage/price spiral. They also offer some thoughts on the precedents that were set by the acquisition of Union Bank by US Bancorp, and how that has affected other banks, such as embattled Wells Fargo. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Inflation is easing, even if it may not feel that way" (article from NPR) "Insana says the case is clear that inflation is over" (article from CNBC) "Mortgage refinance demand surges, as homeowners take advantage of lower interest rates" (article from CNBC) "The World Bank is cutting its 2023 forecasts and warning of a global recession" (Bloomberg Businessweek via Instagram) "Forget Core CPI, Market Pros Are Searching for Supercore Inflation" (article from The Wall Street Journal) | |||
| 27 Oct 2023 | Housing Affordability, Realtor Problems & Saied Is Grumpy | 01:27:22 | |
From the very beginning of this data heavy episode Saied is salty, dare we say even – grump! Come for the discussion on housing affordability versus renting, mortgage rate debates and updates on the National Association of Realtors antitrust lawsuits. But, stay for the sassy attitude that Saied is bringing to the table. Listen as Chris and Haroon are attacked at every turn by an unprovoked attack. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: As mortgage rates hit 8% for the first time in 23 years, affordability continues to fall off a cliff (The Kobeissi Letter via X) There’s Never Been a Worse Time to Buy Instead of Rent (Wall Street Journal) America’s Downtowns Are Empty. Fixing Them Will Be Expensive (Wall Street Journal) Is the ongoing run of Fed rate hikes “taking away the American dream”? This economist says so (Yahoo! Finance via Instagram) Why the housing market is going from tough to terrible (CNN) The 30-year fixed mortgage rate just hit 8% for the first time since 2000 as Treasury yields soar (CNBC) Morgan Stanley makes a bold, tough prediction for home prices next year (The Street) Fastest declining Housing Markets (1-year drop) (The Kobeissi Letter via X) Rocky few months for NAR (The Real Deal via Instagram) Real-Estate Commissions Could Be the Next Fee on the Chopping Block (Wall Street Journal) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher... | |||
| 01 Dec 2023 | The Current State of Housing & It's Not Our Fault | 01:07:52 | |
In a jam packed episode 198, Chris, Saied and Haroon are very caffeinated and coming in hot. Recorded back-to-back with BallerBusters: Chapter 2 and a very special guest, you can just feel the palpable stench of the powerful combination of sarcasm and data. Kicking off the show, the boys jump into US holiday retail sales. They quickly pivot to how much the “typical American” has in a 401(k) account. Then wham! Its all housing market updates all day for you the rest of the way. Almost too much data for you to handle. I guess that’s why we are the #1 financial literacy podcast in the world isn’t it? Let’s go! Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: Growth in US holiday retail sales (CNBC Chart Of The Day via Instagram) Here's how much — or little — the typical American has in a 401(k) (CBS News) Stocks, houses, and commercial real estate are all expensive – and prices are under 'notable' pressure, Fed economists say (Business Insider) 40% of all US homes currently don't have mortgages (The Kobeissi Letter via X) Existing Home sales drop again in October (Yahoo! Finance via Instagram) Home prices are falling fastest in these 25 cities, helping buyers escape the least affordable housing market since 1985 (Business Insider) OpenAI brings Sam Altman back as CEO less than a week after he was fired by board (CNBC) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your... | |||
| 30 Jan 2024 | Your Best First Investments, Home Sales & Repos | 01:32:21 | |
The Higher Standard is back, fresh off their new once a week cadence. It feels equally as weird for Chris, Saied and Haroon. Behind the scenes, our boy Hayden, is getting up to speed on all the editing work. The end goal is to bring you all better content, better shows and better guests. We start off episode 214 with a hard look at the housing market and where it could be going. Chris expresses concerns for the "repo" market and the pressure it may ultimately put on the Fed to cut rates earlier than expected. Then the boys dive in to a long segment on saving and investing your twenties, why that's so important and what you can do to build wealth right now! Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: 2023 was the worst year to buy a house since the 1990s. But there's hope for 2024 (NPR) December home sales slump to close out worst year since 1995 (CNBC) In the Market: Repo market may throw a fit, spur Fed to action (Reuters) Here’s why it’s so important to start saving and investing in your 20s (CNBC) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 24 Mar 2023 | Credit Suisse Sells, Regional Banks and the Key to Happiness | 01:22:39 | |
Banking giant UBS is in discussions to take over all or parts of Credit Suisse, with the boards of Switzerland's two biggest lenders set to meet separately over the weekend. The Swiss National Bank and regulator FINMA are organising the talks in an attempt to build confidence in the country's banking sector. On Friday evening, Swiss regulators informed their counterparts in the United States and United Kingdom that the merger of the two banks was their "Plan A" to salvage the confidence in Credit Suisse. Several other options are also under discussion between the two banks as both sides try to evaluate regulatory constraints in different jurisdictions. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss an 85-year long study by Harvard researchers indicating that, while particular roles can’t be reliably correlated with dissatisfaction and burnout, certain job characteristics can be. Jobs that require little human interaction and don’t offer opportunities to build meaningful relationships with co-workers tend to have the most miserable employees, the study found. Chris and Saied look at news that Bitcoin has climbed to a nine-month high as turmoil in the banking sector drives some investors to turn to digital assets. It rose as far as $28,567, its highest since mid-June, and was last up 0.9%, amid growing expectations that central banks would slow the pace of interest rate hikes. They also offer some thoughts on contingent convertible bonds, or CoCos, often described as high-yield investments with a hand grenade attached. The UBS takeover of Credit Suisse has pulled the pin on $17 billion of them. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: Markets and Mayhem via Twitter "UBS in talks to acquire Credit Suisse" (article from The Financial Times) "UBS buys Credit Suisse for $3.2 billion as regulators look to shore up the global banking system" (article from CNBC) "UBS Agrees to Buy Credit Suisse for More Than $3 Billion" (article from The Wall Street Journal) "Big Banks Best Positioned to Weather Crisis: Morningstar" (article from The Street) | |||
| 03 Mar 2023 | Inflation Swerve, OpenDoor and UFOs are More Real than Crypto | 01:33:33 | |
A measure the Federal Reserve watches closely to gauge inflation rose more than expected in January, indicating the central bank has more work to do to bring down prices. According to a report by the Commerce Department. The personal consumption expenditures price index excluding food and energy increased 0.6% for the month, and was up 4.7% from a year ago. Wall Street had been expecting respective readings of 0.5% and 4.4%. The core PCE gains were 0.4% and 4.6% in December. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss a survey from the Philadelphia Fed that indicates 39% of crypto owners said last October that they would likely buy more cryptocurrency as a way to gain wealth. Chris and Saied look at a research white paper that examines the history of central bank efforts to create disinflation, which states that the Federal Reserve is unlikely to be able to bring down inflation without having to raise interest rates considerably higher, causing a recession. They also offer some thoughts on a report from Goldman Sachs, which says that, out of the country's 25 largest metropolitan areas, four cities stand out for having particularly dim housing forecasts: Austin, Seattle, Phoenix and San Francisco. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Roger Ferguson: The Fed has more work to do as inflation still presents danger" (article from CNBC) "Key Fed inflation measure rose 0.6% in January, more than expected" (article from CNBC) "Despite high inflation, Americans are spending like crazy — and it's kind of puzzling" (article from CNBC) "Fed can’t tame inflation without ‘significantly’ more hikes that will cause a recession, paper says" (article from CNBC) "Are we headed for a recession? More economists think a 2023 downturn may come later than they thought" (article from USA Today) "Subprime auto lender folds as more Americans fall behind on car payments" (article from Fortune) "Home prices will sink in these cities that were once red hot as supply starts to overwhelm demand" (article from Markets Insider) | |||
| 22 Jul 2022 | Fed Increase Prediction, DSCR Loans and No Fat Jokes | 00:49:53 | |
In today's episode of The Higher Standard, Chris offers up opinions and insights on debt service coverage ratio loans in the single family residential market, the Consumer Price Index (CPI) and predictions around the growth of the GDP. In this episode you'll discover: - The concept of debt service coverage ratio loans and why it's not, as some seem to suggest, a new thing. - Why food and energy commodities, like gasoline prices, are excluded from the CPI. - Chris' predictions for GDP growth. This is a show you do not want to miss! Join Chris for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
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| 26 Sep 2023 | The Fed Holds, Housing Peaks & Saied Fisting | 01:04:17 | |
In a spectacular display of machismo, Saied gives Chris not one, but three separate fist pounds during this sensational episode. Maybe Saied was just happy that the Federal Reserve left rates unchanged? Maybe it was the Fed's terrible track record of forecasting what the economy is likely to do? I guess we will never know, but what you will know for sure after this show is that we may be in the biggest housing bubble ever, Zillow shifted their 2024 home price forecast down and 30-year mortgage rates have in fact hit 8%. Economic data, financial literacy and a healthy portion of fisting. What else could you ask for? Resources: The Federal Reserve leaves rates unchanged. Here’s how it impacts your money (CNBC) Take the Fed forecast with a grain of salt. It has a terrible track record (CNBC) Biggest Housing Bubble Ever (Nick Gerli via X) Zillow once again shifts its 2024 home price forecast. Here’s why (Fortune) The Fed would be ‘flying blind’ on interest rate decisions after a government shutdown (CNBC) 30-Year Mortgage Rates Rise Again, Flirting with Historic Peak (Investopedia) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 15 Nov 2022 | How to Lose 94% of Your Wealth in one Day, CPI and Twitter | 01:13:11 | |
Fed Chairman Jerome Powell still says it's possible to cool the economy and keep employment stable – without a severe recession, in what would be a 'soft landing.' However, according to Nouriel Rubini, professor emeritus at New York University’s Stern School of Business and CEO of Rubini Macro Associates, better known as 'Dr. Doom', a recession and an economic 'hard landing' are all but guaranteed. In today's episode Chris and Saied discuss Dr. Doom's prognosis and why historical evidence would seem to prove him right: No one is getting a soft landing. They discuss the recent news that a federal judge in Texas has ruled that President Joe Biden's plan to cancel hundreds of billions of dollars in student loan debt was unlawful and must be vacated, delivering a victory to conservative opponents of the program. Chris and Saied look at Sam Bankman-Fried, the cryptocurrency entrepreneur, founder and CEO of FTX and (former) billionaire, whose cryptocurrency empire went from $16 billion at the start of the week, to nearly non existent by the end. They also discuss comments by former Treasury Chief Larry Summers, who said that stubborn inflation could force the Federal Reserve to hike interest rates above 6%, the highest level in more than two decades. Join Chris and Saied for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Here’s the inflation breakdown for October 2022 — in one chart" (article from CNBC) "Wells Fargo mortgage staff brace for layoffs as U.S. loan volumes collapse" (article from CNBC) "Opendoor slashes 18% of staff" (The Real Deal via Instagram) "Opendoor posts near $1 billion loss" (The Real Deal via Instagram) "Nouriel Roubini says it’s ‘mission impossible’ to avoid a hard landing, and we’ll get the worst of the 1970s and 2000s combined" (article from Fortune) "Sam Bankman-Fried’s $16 Billion Fortune Is Eviscerated in Days" (article from Fortune) Jeremy Siegel says the housing crash will force Fed chief Powell to 'flip sometime' on inflation and pivot" (article from Markets Insider) "The Fed may need to hike interest rates above 6% to crush stubborn inflation, ex-Treasury chief Larry Summers says" (article from Markets Insider) | |||
| 05 Mar 2024 | Hack A Massive Discount On A Mortgage & The Fed Ain't Playing | 01:19:29 | |
The boys start the show right off the bat with a commonly asked about mortgage hack that will actually save you a whole lot of money. The problem is that it isn't really something too many people actually do. It requires discipline, planning and making sure your bank applies the payments correctly. The rest of the episode is spent diving in to the Fed and their rate cut paradigm. By all outward measures, the FOMC should take a victory lap in that they have gotten inflation back in line while employment remains strong according to the data. You do know that Chris, Saied and Haroon already don't trust the jobs reports though. Episode 219 of The Higher Standard brings you a lot to think about as far as what may come for the economy and how to plan for your financial future. Also, Chris needs to stop doing drugs, he thinks he can take The Rock. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: Interest rate cut expectations continue to scale back (Kobeissi Letter via X) Assets: Total Assets: Total Assets Less eliminations from consolidation (St. Louis Fed FRED Economic Data) Fed Minutes show unease over premature cuts (Wall Street Journal) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 02 Apr 2024 | You Need A Trust, The Fed, Housing & Diddy | 01:25:53 | |
Friends, please make sure your financial seat backs and tray tables are in their full upright position because we are about to tell you why you need a trust. Make sure your economic seat belt is securely fastened and all carry-on luggage is stowed underneath the seat in front of you like Diddy sneaking through customs or in the overhead bins like his drug mule. ➡️ We are going to dive in to the last Fed meeting, the impact to the rate environment and talk to you about how it impacts you in the near future. Then, even though home prices rose 2.4 times faster than inflation since 1960s, new home prices are now down 20% and THS is here to tell you why. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: Top takeaways from Jerome Powell’s FOMC press conference (Yahoo! Finance via Instagram) The FED Reserve posts record loss of $114 billion in 2023 (Yahoo! Finance via Instagram) A rush of money has hit US corporate bond markets in 2024 (Mohamed El-Erian via LinkedIn) Average rate for U.S. savings accounts (Chart of the Day via Instagram) Home prices rose 2.4 times faster than inflation since 1960s (CNBC via Instagram) New home prices are now down 20% (Kobeissi Letter via X) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 11 Jun 2024 | How Much Home Can You ACTUALLY Afford | 01:11:05 | |
In episode 233 of "The Higher Standard," Chris, Saied and Haroon dive into the crucial topic of home affordability, exploring how much house you can actually afford without breaking the bank or sacrificing your prized Pokémon collection. ➡️ They delve into the latest housing market trends, discussing the surge in new single-family homes for sale as highlighted by The Kobeissi Letter and the rising listings in the US housing market noted by Mohamed A. El-Erian. Lance Lambert’s insights on housing affordability also get the spotlight, while the trio adds their unique commentary on job market shifts, Trump’s trial verdict, and the postponement of the Mike Tyson vs. Jake Paul fight. 💥 Have you left your "honest ⭐️⭐️⭐️⭐️⭐️" review? 🏆 Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. ✔️ Click the link and start today: http://www.transcendcompany.com/THSP 👕 THS MERCH: http://www.thspod.com 🔗 Resources: The number of NEW single-family houses for sale has surged (The Kobeissi Letter via X) The US housing market is finally starting to see listings rise (Mohamed A. El-Erian via X). Housing affordability is the story (Lance Lambert via X). Job openings fall to lowest level since February 2021 (Yahoo! Finance). Trump trial: After guilty verdict (NBC News). Mike Tyson vs. Jake Paul fight postponed (NBC News) ⚠️ Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 28 Nov 2023 | A Market Crash, Housing Impossible & Not So Open AI | 01:12:04 | |
Yea though I walk through the valley of the shadow of the recession, I shall fear no Gary Shilling. Gary has been a permanent bear in the markets, but he did call and make a lot of money of The Great Recession. Now he is saying you can expect stocks may crash 30%, a recession looks imminent, and commercial real estate is a bubble about to burst. We give you 8 of his best quotes from a new interview. Chris, Saied and Haroon once again break down the impossible mess of the housing market. And, then place all tray tables and seat backs in their locked and upright positions because the boys are going all in on OpenAI's massive CEO debacle. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: The US Housing Market Has Become an Impossible Mess (Bloomberg) OpenAI Investors Try to Get Sam Altman Back as CEO After Sudden Firing (Wall Street Journal) OpenAI’s Unusual Corporate Structure Gave the Board Complete Control (Chartr Daily via Instagram) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 04 Aug 2023 | Austin Office, Luxury Homes & Dallas Aribnb | 01:05:03 | |
Finishing off their double header, the boys are back-to-back again and are ferociously diving in to the Austin office market, the luxury home market's new reality and some new changes in Dallas. Apparently Dallas' City Council has banned short-term rentals from "single-family areas." Oh, and Saied also thinks that this is a financial literary podcast where we discuss books about finance. Confused? So are we. Episode 164 of The Higher Standard is here to save the day. Resources: Austin office market hits record-high vacancy (The Real Deal) The Luxury Home Market Confronts Its New Reality: Not Enough Buyers and Sellers (The Wall Street Journal) The Dow sinks, snapping its longest run since 1987 (CNN Business) Dallas City Council bans short-term rentals from single-family areas (Fox 4 News) Biggest winners and losers from the Fed’s interest rate hike (Yahoo! News) US economy defies recession fears with strong second-quarter performance (Yahoo! News) A $5.5 trillion savings wipeout is raising risks for the US economy (Yahoo! News) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 28 Feb 2023 | Jamie Dimon vs. Jim Cramer, 2.3 Trillion Dollar Home Problem and Extremes are Bad | 01:24:05 | |
Redfin Corp. has said that the total value of homes in the U.S. totaled $45.3 trillion at the end of 2022, which is down about $2.3 trillion, or 4.9%, from the June 2022 peak of $47.7 trillion. That marks the biggest decline for any June-to-December period since 2008, during the financial crisis. The housing market has been declining as rising mortgage rates have hurt demand. The hardest hit area was San Francisco, which saw the total value of homes in December fall by $37.3 billion, or 6.7%, from a year ago to $517.5 billion, while Miami saw the value of its homes surge by $77 billion, or 19.7%, in December to $468.5 billion. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect this will have on the housing market. They discuss data from the Mortgage Bankers Association (MBA) showing that the average interest rate on the most popular U.S. home loan rose last week to its highest since November as bond markets took fright that the Federal Reserve might have to continue tightening policy through summer to subdue inflation. Chris and Saied look at news that the number of large office landlords defaulting on their loans is on the rise, which appears to offer fresh evidence that more developers believe that remote and hybrid work habits have permanently impaired the office market. They also offer some thoughts on the decision to no longer offer travelers using American Express premium credit cards the ability to to bring two free guests to the American Express lounges. There is now a $50 fee for adults and a $30 fee for children ages 2 to 17. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "U.S. mortgage interest rates jump to highest level since November - MBA" (article from Reuters) "US home values declined by $2.3 trillion in 2nd half of 2022, Redfin says" (article from MarketWatch) "Existing home sales fall for the 12th consecutive month in January" (article from CNBC) "Office Landlord Defaults Are Escalating as Lenders Brace for More Distress" (article from The Wall Street Journal) "American Express Airport Lounges Cut Back on Free Plus Ones" (article from The Wall Street Journal) | |||
| 04 Jun 2024 | The Get Dynasty Origin Story | 01:04:13 | |
In this episode of The Higher Standard podcast, hosts Chris, Saied, and Haroon engage in an insightful conversation with Alessandro Chesser, co-founder of GetDynasty. GetDynasty is revolutionizing estate planning by offering a platform that allows users to create and manage living trusts entirely online. This innovative approach helps protect assets, avoid probate, and ensure seamless inheritance. Highlighted in the discussion are Dynasty's notable investors, including Bill Ackman, Henry Ward, and Jerry Murdock, underscoring the company's strong backing and potential impact on democratizing wealth management. ➡️ If Alessandro looks strikingly handsome, you can chalk that up to good genetics as he also happens to be the cousin of the one and only Sal Di Stefano, who is partially responsible for The Higher Standard podcast's creation. Learn More Here: https://www.getdynasty.com 📌 Get Dynasty On: https://www.youtube.com/@GetDynasty https://www.instagram.com/getdynasty https://www.tiktok.com/@getdynasty https://www.facebook.com/getdynastycom https://x.com/getdynasty_com https://www.linkedin.com/company/getdynasty/ 💥 Have you left your "honest ⭐️⭐️⭐️⭐️⭐️" review? 🏆 Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. ✔️ Click the link and start today: http://www.transcendcompany.com/THSP 👕 THS MERCH: http://www.thspod.com 🔗 Resources: Mind Pump Media (Mind Pump's Website) ⚠️ Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 11 Oct 2022 | Updated Industry Metrics, Leaders Will Rise and We Appreciate You | 01:10:31 | |
According to a report from CNN Business, the nation’s total public debt outstanding closed at $31.1 trillion on Monday, according to Treasury Department data published Tuesday. This particular milestone comes at a time of historically high inflation, rising interest rates and growing economic uncertainty. Incredibly, outstanding debt has climbed nearly $8 trillion since the beginning of 2020, and it's increased by $1 trillion since February of 2022. In today's episode of The Higher Standard, Chris and Saied take a deeper look into this news and the reasons behind it (looking at you, Inflation Reduction Act). They discuss the reasons why you shouldn’t buy real estate in some major markets unless you see a 10% drop in value from where you were. Chris and Saied look at the issue of real estate numbers, such as home values, mortgage application volume, etc. and why the amount of interpretation involved means that the trends become more important than the specific numbers. They also discuss an article stating that a recent report from KPMG shows that over 50% of American CEOs are considering workforce reductions over the next six months, possibly as a response to the increase of remote workers during the pandemic. Join Chris and Saied for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Higher Interest Rates Will Raise Interest Costs on the National Debt" (article from Peter G. Peterson Foundation) "U.S. Apartment Demand Plunges in 3rd Quarter as New Leasing Stalls More than Expected" (article from RealPage Analytics) "US home prices are now posting their biggest monthly drops since 2009" (Bloomberg BusinessWeek via Instagram) "High mortgage rates, tight supply and economic uncertainty: Here’s what’s happening with home prices" (article from CNBC) "Mortgage applications plummet 14% as higher interest rates and Hurricane Ian crush demand" (article from CNBC) "U.S. job openings drop sharply, labor market starting to loosen" (article from Reuters) "Fed’s Bostic wants to pause after December rate hike" (article from MarketWatch) | |||
| 23 Sep 2022 | How CPI will Influence the Fed, Khaby Lame and Q&A Winners | 01:13:24 | |
The inflation numbers have been released, and the news is not good for anyone. The Consumer Price Index (CPI) has increased to 8.3%. A 10.6% decline in gasoline prices was offset by increases in rent, food and health care. Food prices rose by .8%, with the cost of food consumed at home increasing by .7%. The increase in CPI feeds into the argument Chris and Saied have been making for some time, and that so many social media personalities refuse to accept. In today's episode of The Higher Standard, Chris and Saied discuss these new CPI numbers, the effect they're having on the economy, and the effect they will have on the Fed's upcoming rate hike decisions. They discuss the market's reaction to the news, including the increasing possibility that the Fed could bypass the .75% increase and go straight to a 1% increase. They also look at a recent report from Moody's Analytics, which says there are now 210 housing markets across the nation that are "significantly overvalued" — or overvalued by more than 25%. In those markets, Moody's predicts home prices to fall 5% to 10%. If a recession hits? Home prices in those regions could take 15% to 20% hits. Chris and Saied also discuss the phenomenon that is Kaby Lame, the TikTok star with 150 million followers, who is reportedly on track to make $150 million a year. This is a show you do not want to miss! Join Chris and Saied for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
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| 30 Jun 2023 | San Francisco Needs Batman, Return To Office & Home Sales | 01:20:14 | |
In New York and London, owners of office towers are walking away from their debt rather than pouring good money after bad. The landlords of downtown San Francisco’s largest mall have abandoned it. A new Hong Kong skyscraper is only a quarter leased. The rot inside commercial real estate is like a dark seam running through the global economy. Even as stock markets rally and investors are hopeful that the fastest interest-rate increases in a generation will ebb, the trouble in property is set to play out for years. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss a prediction from Chapman University economists, calling for a mild national recession in the second half of the year, driving down the coastal community's year-end local median sales price to $885,000 — an 11 percent drop from $993,000 in June and 19 percent off the $1.1 million high of spring 2022. Chris and Saied look at announcements from several big companies, including Apple, JPMorgan Chase, and Amazon, who are attempting new pushes to “return to office” after previous attempts foundered. However, the pandemic has showed that many jobs can be done remotely, while a tight labor market and successful pandemic policy has given employees the confidence to push for better working conditions. They also offer some thoughts on data from Moody’s Investors Service, which indicates that corporate defaults rose last month, with 41 in the U.S. so far this year. That’s more than double the same period last year. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Cinemark closing theater complex at Westfield" (NBC via Instagram) "OC home prices expected to fall by 11% as recession looms" (TheRealDeal via Instagram) "Silicon Valley vacancy jumps to 17% as tech firms shed floors" (TheRealDeal via Instagram) "Return to office? How COVID-19 and remote work reshaped the economy" (Princeton University Press) "Corporate bankruptcies and defaults are surging – here’s why" (CNBC) "The World’s Empty Office Buildings Have Become a Debt Time Bomb" (Bloomberg) "U.S. new home sales jump in May; median house price falls" (Reuters) "U.S. Home Prices Posted First Annual Decline Since 2012 in April"... | |||
| 31 Jan 2023 | More Art Than Science, Utah Stumbles and Paper Ass Gaskets | 01:19:41 | |
According to the Mortgage Bankers Association’s seasonally adjusted index, mortgage interest rates fell for the third straight week, while mortgage demand also rose again. Total application volume increased 7% last week compared with the previous week. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.2% from 6.23%, with points increasing to 0.69 from 0.67 (including the origination fee) for loans with a 20% down payment. That rate was just about half that one year ago. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the housing market and the economy as a whole. They discuss data released by the Salt Lake Board of Realtors on their UtahRealEstate.com website, which states that Utah’s most populated county, Salt Lake County, has seen its first year-over-year decline in housing prices since 2011. Chris and Saied look at Goldman Sachs' forecast of record drops in San Diego's home prices, saying that home values will fall at levels similar to the 2008 crash. The predictions indicate that San Diego, San Jose, Austin, and Phoenix will see declines of more than 25%. They also offer some thoughts on the rise of fourth-quarter gross domestic product of 2.9%. Economists surveyed by Dow Jones had expected a reading of 2.8%. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Most economists expect a US recession in 2023, but nailing the timing is a tall order" (Bloomberg Businessweek via Instagram) "Two in three Americans cannot cover a $400 emergency expense" (Bloomberg Business via Instagram) "Money Supply Shrinks for the First Time. What It Says About Inflation and the Economy." (article from Barron's) "Want To Know Where House Prices Are Heading In 2023? Watch Mortgage Rates" (article from Forbes) "Salt Lake County, Utah housing prices drop 6% — the first year-over-year decline in 11 years" (article from Deseret News) "Goldman Sachs forecasts 2008-sized crash in San Diego housing market" (CBS8 via Instagram) "U.S. GDP rose 2.9% in the fourth quarter, more than expected even as recession fears loom" (article from CNBC) "'Big Short' Burry Suggests the Stock Market Jump Is a Mirage" (article from The Street) | |||
| 30 Aug 2022 | The Victory Lap, Real Estate Update, Layoffs and Q&A | 01:09:53 | |
No matter the position still being maintained by Dave Ramsey and other social media influencers, the housing recession is upon us. The National Association of Realtors has actually called it a recession, among others, and no amount of wishful thinking will make it not so. In today's episode of The Higher Standard, Chris and his co-host take a victory lap as the numbers and the pundits appear to agree with what they have been calling all along: A housing recession. They discuss recent comments by Nancy Wallace, the Lisle and Roslyn Payne Chair in Real Estate Capital Markets at Berkeley Haas, who has stated that non-banks are poorly capitalized, as well as the decision by Loan Depot to close down their entire wholesale division. Chris shares a rather scary report from Redfin, where analysts said real estate investors bought 18.4% of homes sold in the fourth quarter of 2021, up from 12.6% a year earlier. That means real estate investors effectively own 20% of the market now nationally. They also explore a recent Wall Street Journal article stating that 4 in 10 employers are rescinding job offers, and a similar amount are reducing or eliminating the sign-on bonuses that had become common to attract talent in a tight job market. This is a show you do not want to miss! Join Chris for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
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| 29 Aug 2023 | Rolling Recession, Mortgage Rates & Why Saied? | 01:06:25 | |
After wasting an hour eating Chick-fil-A, the boys are off to a slow start this episode. Maybe it was the unnecessary amounts of sodium. After gaining some traction and coming out of a food coma, Chris dives in to the ideology of a “rolling recession” and what this could mean for you. They pivot in to an interesting Yahoo! Finance article on the American retailers and restaurants that are bracing for the impact of student loan payments restarting. Many of these topics we have all covered together before; however, there is more data and probable impacts that can be seen in the economy that should not be ignored. Chris and Saied navigate through 30-year mortgage rate and mortgage application charts suggesting that the trending is indicative of recessionary stress. And finally, you all get to hear the coughing that Haroon does behind the scenes which we edit out for your audio pleasure. Resources: America's retailers and restaurants brace for a shock from student loan payments (Yahoo! Finance) US 30-year mortgage rate soars to highest since 2000 (Reuters) S&P just downgraded some big banks. Here are the 5 that are impacted (Yahoo! Finance) Powell Is Using Jackson Hole as Final Push in Inflation Fight (Yahoo! Finance) Home sales fall again in July, as supply drops to near quarter-century low (CNBC) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 16 Jul 2024 | Investing For Your Kids And Recession Red Flags | 01:19:01 | |
In this jam-packed episode of The Higher Standard, Chris, Saied, and Haroon dive headfirst into the fiery debate of 529 plans versus brokerage accounts for kids. With Chris hilariously comparing brokerage accounts to the wild west and Haroon trying to make 529 plans sound as exciting as a superhero origin story, this segment is both informative and entertaining. ➡️ And just when you thought things couldn't get crazier, Saied drops the bombshell that US bankruptcies have hit their highest level in 14 years. It’s the perfect mix of financial advice and economic drama you didn’t know you needed. Don’t miss this rollercoaster of an episode that turns financial turmoil into pure podcast gold. 💥 Have you left your "honest ⭐️⭐️⭐️⭐️⭐️" review? 🏆 Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. ✔️ Click the link and start today: http://www.transcendcompany.com/THSP 👕 THS MERCH: http://www.thspod.com 🔗 Resources: US Bankruptcies hit the highest level in 14 years (Global Markets Investor via X) Job openings have been rapidly declining (Game of Trades via X) 50 housing markets where home prices are down the most from peak (Lance Lambert via X) Price cuts on the US Housing Market just hit their highest level in six years (Nick Gerli via X) A massive housing bubble has developed, and is about to pop, in the South (Nick Gerli via X) ⚠️ Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 13 Dec 2022 | Big Cap With Special Guests Ariya and Haroon | 01:43:53 | |
American consumers are slowing their spending as the Federal Reserve’s interest rate increases reverberate throughout the economy, according to the CEOs of two of the largest American banks. After two years of pandemic-fueled, double-digit growth in Bank of America card volume, “the rate of growth is slowing,” CEO Brian Moynihan said at a financial conference. While retail payments surged 11% so far this year to nearly $4 trillion, that increase obscures a slowdown that began in recent weeks: November spending rose just 5%, he said. In today's episode of The Higher Standard, Chris and Saied have done something a little different and invited their brothers, Ariya and Haroon, to join them in the discussion as they attempt to dissect this and many other pieces of economic news. They discuss what's likely to happen in the crypto space, and why the lack of regulation will remain a turn off for many investors. Chris and Saied look at the sudden reversal in home prices that began this spring, which has now affected every one of America’s major metros with declines from their recent all-time peaks. They also discuss a recent report stating that Morgan Stanley has cut about 2% of its workforce, affecting about 1,600 positions and following workforce reductions at Goldman Sachs and Citigroup. Join Chris and Saied (as well as Ariya and Haroon) for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Crypto is a complete sideshow, tokens are like 'pet rocks,' says JPMorgan CEO Jamie Dimon" (via YouTube) "Goldman CEO says small bonuses, job cuts shouldn't be a surprise." (Bloomberg via Instagram) "Home prices are down in every one of the top 58 metros according to the latest AEI data. But cities in this region have taken the biggest hit so far" (article from Fortune) "Wisconsin Man Indicted for $35 Million Bank Fraud Scheme" (press release from the Department of Justice) "‘There is a slowdown happening’ – Wells Fargo, BofA CEOs point to cooling consumer amid Fed hikes" (article from CNBC) "A key indicator of a coming economic downturn is pricing in nearly 100% chance of a 'Powell recession' in 2023" (article from Yahoo! Finance) "Morgan Stanley cuts about 2% of its workforce - source" (article from Reuters) | |||
| 11 Jul 2023 | BS Jobs Report, Bankruptcies, and Haroon Ends The Show | 01:16:30 | |
The Commerce Department is reporting that the US economy expanded at a much faster pace in the first three months of the year than previously estimated. Consumer spending accounts for about 70% of America’s gross domestic product, the broadest measure of the economy, so it’s nearly impossible to enter a recession when spending is growing. Over the pandemic, historic levels of stimulus cash boosted household income significantly. Spending, meanwhile, was severely curtailed as the economy shut down. Personal saving rates soared as a result, with US households amassing about $2.3 trillion in savings in 2020 and through the summer of 2021, according to Federal Reserve economists. That’s about $2 trillion more than they would have saved under normal circumstances. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss a warning from the Federal Trade Commission, indicating that scammers are likely to target student loan borrowers after the Supreme Court struck down the Biden administration’s debt forgiveness plan, and as loan repayments are poised to restart in the fall. Chris and Saied look at a report from payroll processing firm ADP, showing that private sector jobs surged by 497,000 for the month, well ahead of the downwardly revised 267,000 gain in May and much better than the 220,000 Dow Jones consensus estimate. The increase resulted in the biggest monthly rise since July 2022. They also offer some thoughts on comments from Epiq Bankruptcy, a provider of US bankruptcy filing data, which claims that Chapter 11 bankruptcy filings jumped 68% in the first half of 2023 from a year earlier. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: (Chart of the Day via Instagram) "The Fed can’t decide how much money US households have left" (CNN) "Mortgage rates hit the highest point of the year" (Yahoo! Finance) "America's economy rapidly shifts south" (Axios) "Bankruptcy filings surge in first half of 2023 in US, Epiq says" (Reuters) "CRE Nightmare For CMBS Holders: Office Mortgage Delinquency Rate Suffers Biggest 6-Month Spike Ever" (Zerohedge) "Private sector companies added 497,000 jobs in June, more than double expectations, ADP says" (CNBC) | |||
| 05 Jul 2022 | Estrogen, Buying a Home and Dave Ramsey Still Sucks | 00:50:25 | |
In today's episode of The Higher Standard, Chris offers insights on everything from surprising side effects of testosterone treatments and the Great Resignation to his continued issues with Dave Ramsey. In this episode you'll discover: - The side effects of testosterone treatments, and the surprising perspective it offers. - The real reasons behind the so-called 'Great Resignation.' - Some actual numbers surrounding buying a house and the current market. This is a show you do not want to miss! Join Chris for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
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| 13 Aug 2024 | Emergency Economic Fireside Chat | 01:33:45 | |
The stock market’s recent nose dive has everyone buzzing, and The Higher Standard crew is here to break it all down. Chris, Saied, and Haroon dig into the fleeting positivity of the 2Y/10Y spread—did it really mean anything, or was it just a tease? Meanwhile, Dave Ramsey’s relentless “buy, buy, buy” mantra gets a skeptical side-eye as the hosts question whether it’s time to pump the brakes instead of the gas. ➡️ As if things weren’t shaky enough, U.S. credit card debt hits a staggering $1.14 trillion, and job growth falls way short of expectations. With unemployment creeping up to 4.3%, the guys explore whether we’re headed for a full-blown recession or just a rough patch. Buckle up—this episode is a wild ride through the latest financial turbulence. 💥 Have you left your "honest ⭐️⭐️⭐️⭐️⭐️" review? 🏆 Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. ✔️ Click the link and start today: http://www.transcendcompany.com/THSP 👕 THS MERCH: http://www.thspod.com 🔗 Resources: Caution, Recession Ahead? (Investopedia) Credit card debt hits record $1.14T (Chart Of The Day) Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3% (CNBC) ⚠️ Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 03 Oct 2023 | Meaningfully Higher, Global Economy, ARMs & Aloha | 01:14:43 | |
After a long needed week off of production, the boys are back in the studio. Haroon kicks off the episode by actually making sure that all three red lights are on to ensure that no video or audio will be missed for this reunion episode. Chris spent a week in Kauai and returns to Saied and Haroon with some new found emotional warmth, no jokes about the male anatomy, but plenty of "aloha!" Jumping right in to things, Chris discusses how frustrated he is with the clickbait title and interview by The Fed's Kashkari to Yahoo! Finance. Then Saied and Chris go down a long rabbit hole of what holding rates "higher for longer" actually means for the global economy and not just the United States. For those of you who want to know "Is Saied still coughing every damn episode?" The answer is absolutely and we leave every single one in the show to annoy you as much as it annoys us. Resources: Fed's Kashkari: 40% chance of needing 'meaningfully' higher rates (Yahoo! Finance) What could break under higher-for-longer interest rates? (Reuters) Rising Loan Costs Are Hurting Riskier Companies (Wall Street Journal) The Fed’s favorite inflation indicator rose less than expected in August (CNBC) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 05 Dec 2023 | Inflation Doesn't Solve All Problems & RIP Charlie Munger | 01:08:29 | |
Chris, Saied and Haroon are back and trying to read the economic tea leaves to help us all figure out what may or may not happen next. Inflation cooled in October, but that doesn’t mean we have officially “beaten it.” But, even the Fed’s Waller is out sounding confident that we have. There has been a strong pull back in consumer spending, which the boys think is really good news for the battle against inflation. The cost-of-living squeeze isn’t getting much better though. Don’t forget that inflation dropping to the target of 2% still means things are getting slowly more expensive. Even though all this is happening, cash hoarding investors are ready to invest in the market when the time is right. Lastly, the great Charlie Munger has left us and the boy are slightly devastated in their own, special comedic way. May he rest in peace. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: Inflation continued to cool in October (Yahoo! Finance via Instagram) Just How Bad Is the US Cost-of-Living Squeeze? We Did the Math (Bloomberg) Consumers Pulled Back on Spending, Inflation Eased in October (Wall Street Journal) Median New vs. Existing Home Sale Price (Kobeissi Letter via X) Fed’s Waller expresses confidence that policy is in the right place to bring down inflation (CNBC) Investors Are Hungry for Risk—and Holding Record Cash Sums (Wall Street Journal) Charlie Munger, Who Helped Buffett Build Berkshire, Dies at 99 (Bloomberg) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 10 Mar 2023 | Home Prices Are Falling Charlie Munger Goes Off & Communication | 01:28:37 | |
Home prices have finally fallen from a year-ago levels, according to a commonly used indicator of data. Last month, investors received a slate of home price data for December and January from the National Association of Realtors and S&P Dow Jones Indices. The Realtors Association indicated that the median single-family home sold for $363,100 in January, up 0.7% year-over-year, while December data from the S&P CoreLogic Case-Shiller Home Price Indices' reflected a national price increase of 5.8% year-over-year. More frequent data shows the housing market may have reached a turning point in February, with thin price gains turning into declines. Redfin said on Thursday that its measure of the median home sale price fell by 0.6% over a four-week period covering most of February. In this episode of The Higher Standard, Chris and Saied examine this news as well as other articles on the US housing market. Housing price and mortgage application indices have reached their lowest levels since the Great Recession in 2007. Chris and Saied will debunk Dave Ramsey's concept of supply and demand. They also talk about why they believe house prices must fall. Chris will discusses the younger generation's sense of entitlement in the office as well as the concept of communication in the workplace.
Billionaire Charlie Munger expressed his opinion on cryptocurrencies by saying, "It's just ridiculous that anyone buys this stuff." They offer their insights on cryptocurrencies and Charlie Munger's interview. They look at CNBC's reports about crypto bank Silvergate Capital, whose shares have plummeted. According to MarketWatch, Silvergate shares have lost over 97% of their value since hitting an all-time high in November 2021. Join Chris and Saied for this fascinating and informative conversation about debt, especially for people in their 30s, and what's best thing to do with your money. Spoiler alert: It just might be to keep it in cash. What You’ll Learn in this Show:
Resources: The housing market correction, as told by 4 charts | Fortune | |||
| 27 Aug 2024 | The BIG We Told You This Would Happen Episode | 01:15:14 | |
In this episode of The Higher Standard podcast, Chris, Saied, and Haroon dive into the timeless lessons of Robert Kiyosaki's "Rich Dad, Poor Dad," reflecting on the book’s enduring insights into wealth-building strategies. While they acknowledge the value of its principles, the hosts candidly express their mixed feelings about Kiyosaki’s modern-day social media persona, suggesting that his transformation might have taken some of the shine off his original teachings. ➡️ The conversation then shifts gears to current events, where the trio tackles the latest Bureau of Labor Statistics data, followed by a deep dive into the startling news that the U.S. economy created 818,000 fewer jobs than initially reported. They discuss the implications of this revision, including the Fed confronting the reality of potentially losing up to a million jobs in their forecast. On a lighter note, the hosts sprinkle in some pop culture commentary, from Ashanti and Nelly's baby news to the potential $550 million fallout from a rumored Jennifer Lopez and Ben Affleck divorce, and even a nod to Lil Jon's surprise appearance at the DNC. As always, Chris, Saied, and Haroon deliver sharp insights with their signature wit. 💥 Have you left your "honest ⭐️⭐️⭐️⭐️⭐️" review? 🏆 Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. ✔️ Click the link and start today: http://www.transcendcompany.com/THSP 👕 THS MERCH: http://www.thspod.com 🔗 Resources: Bureau of Labor statistics shenanigans (ZeroHedge via X) Fed Confronts Up to a Million US Jobs Vanishing in Revision (Bloomberg) US economy created 818,000 fewer jobs than previously reported (Fox Business) ⚠️ Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 15 Aug 2023 | Student Loan Repayment, Creating Wealth & Affordability | 01:03:30 | |
Episode 167 is here and, spoiler alert, it is not the promised Larry Wheels episode. Not to worry, that episode will drop in the days to come. In the meantime, please place all tray tables and setbacks in their locked and upright positions as the boys take you along on their fantastical journey of this sexy Tuesday’s financial literacy. This episode will give you a robust review of the impacts of the looming student loan repayment restarting post-pandemic, a deeper dive in to the average consumer credit card debt and what this means for the creation of wealth for generations to come. Chris says that while he does not want a recession, he is more scared of what happens to this country if we do not have one. While carefully navigating a small political discussion, the boys breakdown what could lead to the “smashing” of the middle-class. Of course, there is no better way to cap the show off than by basking in the tragic comedy that is the now infamous SBF’s most recent debacle. Resources: Average consumer carries $5,947 in credit card debt — a 10-year high (CNBC) Only 16% of Californians Can Afford to Buy a Home (Bloomberg) Are You Rich? (Bloomberg) Americans are moving further away for affordable homes and 'grandbabies' (Yahoo! Finance) Judge Sends FTX’s Sam Bankman-Fried to Jail Ahead of Fraud Trial (Wall Street Journal) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 24 Sep 2024 | The Fed Cut Rates Half A Point, Now What | 01:30:17 | |
Episode 248 of The Higher Standard is here and Saied, Chris and Haroon break down the key takeaways from the Fed's decision to cut a full 50bps for its first rate cut of the cycle. The last two times this happened historically was in 2001 and 2007. After each of those was a notable recessionary economy. ➡️ Real estate agents are also dropping like flies already, falling to the lowest number of reported employed agents since 2014. Almost as shocking is that the 23andMe CEO Anne Wojicicki has lost her entire board of directors in a single day. Lastly, as tragic as the Diddy situation may be, you know they guys had to unpack it and cover some of the absolutely stunning and strange revelations. 💥 Have you left your "honest ⭐️⭐️⭐️⭐️⭐️" review? 🏆 Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. ✔️ Click the link and start today: http://www.transcendcompany.com/THSP 👕 THS MERCH: http://www.thspod.com 🔗 Resources: Key takeaways from the Fed’s decision to deliver a jumbo-sized interest rate cut (CNN) Last 2 times the Fed’s first cut was 50+ bps (Geiger Capital via X) BREAKING: The number of full-time real estate agents and brokers in the US dropped to 440,000 in 2023, the least since 2014 (Kobeissi Letter via X) 23andMe CEO Anne Wojcicki ‘surprised and disappointed’ by board resignations: Read the memo (CNBC) ⚠️ Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 05 Jan 2024 | Cash Or Trash And $100 For That Ass | 01:39:25 | |
Trying something new, Chris, Saied and Haroon wanted to play a little game of "Cash or Trash." In this game they asked for you, the listener, to ask any questions you wanted to or name a popular social media personality you wanted to hear their opinion on. The idea was not to disparage anyone, but provide a roadmap and some insight in to what we look at when trying to determine if someone on social media is what they are representing themselves to be. Since The Higher Standard has not done an episode like this before, we really want to hear your thoughts. Did you like it or was it "trash?" Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: 2024 Global Investment Outlook (BlackRock) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 16 Apr 2024 | Before You Buy A Property, Recession Warning & The Perfect Wife | 01:13:04 | |
In a jam packed episode of The Higher Standard podcast, Chris, Saied and Haroon cover everything you need to know before you buy a property. They then jump over the the importance of financial literacy in schools before the hit the hardcore data segment. A big recession indicator is flashing red, total credit card debt is up while the saving rate is plummeting and the boy have concerns of the looming inflation print. They think we won't see a probably of a rate cut until likely July at the earliest. ➡️ Episode 225 is also the beginning of testing a third show segment where Haroon hits us with some popular culture topics to discuss. Some will be finance related, some will not be, but for those of you who wanted to hear more about our thoughts and a more intimate look at who we are. We got you. 💥 Have you left your "honest ⭐️⭐️⭐️⭐️⭐️" review? 🏆 Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. ✔️ Click the link and start today: http://www.transcendcompany.com/THSP 🔗 Resources: Value of a financial education: why more schools are providing financial literacy classes (CNBC via Instagram) The US economy is flashing a recession warning that has only been wrong once in the last century, top economist says (Kobeissi Letter via X) Total credit card debt vs. savings rate (Kobeissi Letter via X) Oregon Player comes forward as $1.3 billion powerball lottery winner, officials say (USA Today) Lara Croft is the ‘most iconic’ video game character, new polls finds (NBC News) The UConn men's basketball team has won back-to-back NCAA championships (Variety) Bad Boys: Ride or Die (Screen Rant) ⚠️ Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, | |||
| 02 Dec 2022 | The Government is Going Broke, Saied's Favorite Curves and a Vacation | 00:59:27 | |
According to the National Association of Realtors (NAR), sales of previously owned homes declined 5.9% in October from the prior month to a seasonally adjusted annual rate of 4.43 million, the weakest rate since May 2020. October sales fell 28.4% from a year earlier, the biggest annual decline since February 2008. Home sales have been dropping each month since February. From their recent peak in January, existing-home sales have dropped about 32%. The slowdown is due to a rapid increase in borrowing rates. The average rate on a 30-year fixed-rate mortgage began to climb rapidly in the first quarter and rose above 7% earlier this month. Mortgage rates eased this week but are still more than double where they stood a year ago. In today's episode of The Higher Standard, Chris and Saied dive into these numbers to help you understand what they mean for the economy and the fight against inflation. They play a game of 'What if?', trying to determine the effect on the market, both short and long term, if the Fed funds rate were to reach 10%. Chris and Saied discuss the concept of a yield curve inversion and why it matters to the economy. They also discuss a recent report indicating that the city of San Francisco could lose up to $200 million in property tax revenue by 2028 as record office vacancies, fueled by remote work and uncertainty in the tech industry. Join Chris and Saied for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Did Bullard Undershoot? Stifel Economists Say Fed Funds Rate May Need to Go to 8% or Even 9%." (article from Barron's) "U.S. Home Sales Fell for Ninth Straight Month in October" (article from The Wall Street Journal) "37% of real estate agents in the US couldn't afford to pay their rent in October — another bad sign for the housing market. Here are 3 key takeaways for sellers right now" (article from Yahoo! Finance) "SF could lose up to $200M in property tax revenue" (The Real Deal via Instagram) "Bob Iger returns as Disney CEO, replacing Bob Chapek after a brief, tumultuous tenure" (article from CNBC) | |||
| 14 Apr 2023 | Dr. Doom's Boom, Strong Job Numbers and AI is Coming | 01:17:21 | |
According to the Labor Department, payrolls grew by 236,000 for the month, compared to the Dow Jones estimate for 238,000 and below the upwardly revised 326,000 in February. The unemployment rate ticked lower to 3.5%, against expectations that it would hold at 3.6%, with the decrease coming as labor force participation increased to its highest level since before the Covid pandemic. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss Nouriel Roubini's continued calls for disaster, stating that neither the US central bank nor the federal government will have the maneuvering room needed to sufficiently stimulate the economy. Chris and Saied look at a survey by recruiter Robert Walters of 3,000 white collar workers who moved jobs during the pandemic, found that 71% wanted to return to their pre-pandemic employer. They also offer some thoughts on a report from Walmart indicating that it expects about 65% of its stores to be serviced by automation by the end of its fiscal year 2026, just days after revealing plans to lay off more than 2,000 people at facilities that fulfill online orders. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Bosses are training employees to be influencers - after long discouraging social media posts about work" (Forbes via Instagram) "Who is Nouriel Roubini, Wall Street's 'Dr. Doom' economist who has warned of catastrophe for 2 decades?" (Markets Insider) "Morgan Stanley analysts are forecasting something ‘worse than in the Great Financial Crisis’ for commercial real estate" (Yahoo! Finance) "Bank Failures. High Inflation. Rising Rates. Is the Resilient Jobs Market About to Crack?" (The Wall Street Journal) "Private payrolls rose by 145,000 in March, well below expectations, ADP says" (CNBC) "Job growth totals 236,000 in March, near expectations as hiring pace slows" (CNBC) "Bosses Want Hard Workers — So They’re Hiring Older People" (The Wall Street Journal) "Great Resignation becomes Great Regret as workers long for their pre-Covid jobs" (Yahoo! Finance) | |||
| 24 Oct 2023 | Recession Red Flags, Home Sales Slow & Treasuries Pop | 01:07:32 | |
Your favorite bank CEO, Brian Moynihan is back at it again with a full on contradiction from just a year ago. Chris, Saied and Haroon waste no time calling him to the carpet. Not to be outdone, Peter Schiff pointed out that Bank of America has unrealized losses of approximately $47.8 billion dollars. The boys get in to home sales data which indicate that 2023 may be the slowest year since The Great Recession. Not helping things is the 10-year treasury which just moved above 5.00% for the first time since 2007. All the recession red flags are waving and The Higher Standard podcast is here to give you the raw, unfiltered truth. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: Big banks are quietly cutting thousands of employees, and more layoffs are coming (CNBC) BoA lost $47.8 Billion (Peter Schiff via Instagram) Home Sales on Track for Slowest Year Since Housing Bust (Wall Street Journal) 10-year Treasury yield breaks above 4.9% for the first time since 2007 (CNBC) Morgan Stanley shares fall over 6% as wealth management results disappoint (CNBC) Oil jumps as Iran increases rhetoric against Israel, US stockpiles drop (Yahoo! Finance) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 21 Apr 2023 | Janet Yellen is Sexy, Site Your Sources, Rent is Falling and Home Rap | 01:10:17 | |
According to data from Redfin, the median U.S. asking rent fell 0.4% year over year to $1,937 in March. That’s the first U.S. Treasury Secretary Janet Yellen has said that banks are likely to become more cautious and may tighten lending further in the wake of recent bank failures, possibly negating the need for further Federal Reserve interest rate hikes. In a recent interview, Yellen said that policy actions to stem the systemic threat caused by last month's failures of Silicon Valley Bank and Signature Bank had caused deposit outflows to stabilize, "and things have been calm." In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss the launch of Apple's 'Apple Card' savings account, with a 4.15% annual percentage yield. It requires no minimum deposit or balance, Apple said, and users can set up an account from the Wallet app on their iPhones. Chris and Saied look at a report from investment research firm Morgan Stanley Capital International (MSCI), indicating that investors have grown voracious for apartment-building acquisitions in 2021 and 2022, having purchased $355.5 billion and $299.2 billion worth of apartment buildings, unprecedented sums that far surpassed the previous $194 billion record of multifamily sales in 2019. They also offer some thoughts on news that the National Association of Home Builders / Wells Fargo Housing Market Index climbed to 45 in April, a 1-point gain, the highest since September. The index stood at 77 in April 2022. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Yellen says US banks may tighten lending and negate need for more rate hikes" (Reuters) "Fed should let the economy equilibrate, says former Fed nominee Judy Shelton" (CNBC) "Warren Buffett Doesn't Hold Back When Asked About Failed Bank Execs" (TheStreet) "Credit-card balances have hit historic highs. Here’s why that’s a worrying sign." (Market Watch) "NO ATMs, no fees, and a 103-year old vault: Inside America's Smallest Bank" (Businessweek via Instagram) "Apple launches its savings account with 4.15% interest rate" (CNBC) "Rental Market Tracker: U.S. Rents Post First Annual Decline in Three Years" (Redfin) | |||
| 23 May 2023 | RIP Sam Zell, Home Depot Falls Off and Remodels are Mid | 00:53:32 | |
According to a report from the Commerce Department, retail sales increased but fell short of expectations. The advanced sales report showed an increase of 0.4%, below the Dow Jones estimate for 0.8%. Excluding auto-related figures, sales increased 0.4%, which was in line with expectations. As the numbers are not adjusted for inflation, the headline increase equaled the 0.4% monthly rise in the consumer price index. On an annual basis, sales were up just 1.6%, well below the 4.9% CPI pace. In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole. They discuss news that stock in Home Depot tumbled more than 5%, or $13 a share, in premarket trading, which was worth about 100 points on the Dow Jones Industrial Average. Once trading opened, the stock recovered some of its gains, and was recently down about 1.5%, still big enough to shave about 30 points off the Dow. Chris and Saied look at a Census Bureau survey, showing that more Americans struggle to meet expenses now than in the immediate aftermath of the Covid-19 pandemic, when millions lost their means of employment. About 38.5% of American adults — or 89.1 million people — faced difficulty in paying for usual home expenses between April 26 and May 8. That’s up from 34.4% a year ago and 26.7% during the same period in 2021. They also offer some thoughts on the passing of Chicago real estate magnate Sam Zell, who earned a multibillion-dollar fortune and a reputation as “the grave dancer” for his ability to revive moribund properties. Join Chris and Saied for this fascinating and informative conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Almost 90 million American adults struggle to make ends meet, Census says" (Bloomberg Business) "Retail sales rose 0.4% in April, less than expected as consumers struggle with inflation" (CNBC) "Americans Curb Spending on Home Improvements" (The Wall Street Journal) "Home Improvement Goes on Hiatus" (The Wall Street Journal) "Experts Predict Home Improvement Spending to Decline by 2024" (M Report) | |||
| 15 Dec 2023 | No One Knows What Happens Next & The Two Comma Club | 01:05:45 | |
After a brief hiatus, the boys are back and ready for the December 12-13 FOMC meeting results. They already know it's going to be a "pause," but Chris, Saied and Haroon predict what they think will be the rhetoric coming out of the meeting. More likely than not is a rally based on pure market optimism. The boys pivot to a thorough breakdown of the wealth stratification in America today because we have reached an alarming milestone. The top 1% of American earners now own more wealth than the entire middle class. Lastly, they round out the show with a discussion regarding the housing market and what lower rates could do to the economy while Larry Summers issues a sharp warning for the real estate entrepreneur bros. Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP Resources: A 'severe recession' may be coming in 2024 as the stock market, job market flash warning signs, strategist says(Business Insider) The top 1% of American earners now own more wealth than the entire middle class (USA Today) Homebuyer conundrum: If mortgage rates fall, bidding wars will follow, expert says (Yahoo! Finance) Here's Where Mortgage Rates and Home Prices Are Heading, According to Zillow and Redfin (Money) The Fed will spark a 'seismic moment' if it cuts rates, and should wait for overwhelming evidence the economy is slowing, Larry Summers says (Business Insider) How many times will the Fed cut rates? Here's what Wall Street expects for the key stock-market driver in 2024 (Business Insider) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not... | |||
| 02 Jul 2024 | Mind Pump's Amazing Adam Schafer Returns | 01:30:52 | |
Some of you might not know this, but The Higher Standard podcast wouldn't be here if it were not for Mind Pump's Adam Schafer. Chris and Saied were long time fans of Mind Pump, the #1 fitness podcast in the world. Adam and Chris formed a friendship over time and the idea to create The Higher Standard in a model after Mind Pump was born. You may even note the homage to the Mind Pump studio in The Higher Standard's aesthetic. ➡️ It has been a while since Adam Schafer and Chris had an opportunity to sit down in front of a hot mic and talk about life. It's been nearly 10 years since Mind Pump started and a lot has changed. Adam is thinking a lot about the next chapter of his business and his life. The boy talk about cars, watches, the evolution of business, why being an "influencer" is a bad idea and so much more. 💥 Have you left your "honest ⭐️⭐️⭐️⭐️⭐️" review? 🏆 Sponsored By Transcend Company: TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. ✔️ Click the link and start today: http://www.transcendcompany.com/THSP 👕 THS MERCH: http://www.thspod.com 🔗 Resources: Bringing Truth To Health & Fitness Worldwide (Mind Pump Media) Some Random Dude (Full Compression via Instagram) Pejman Ghadimi (Exotic Car Hacks via Instagram) Episode 232 | 💥 The Get Dynasty Origin Story (The Higher Standard ) ⚠️ Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||
| 09 Dec 2022 | Jim Cramer Ruins The Party, Liver King is a Guru and Chris Needs Love | 01:11:34 | |
According to Jim Cramer, host of CNBC's "Mad Money," there are four reasons why the Federal Reserve can’t stop tightening the economy just yet. He cites not enough people reentering the workforce, a mismatch between job openings and job seekers, too many people working in customer relations management, data analysis and advertising, and the creation of too many new companies in the past two years. “This market’s hostage to the Federal Reserve, and the Fed’s not going to stop tightening until they see more evidence of real economic pain. Unfortunately, we’re not there yet,” he said. In today's episode of The Higher Standard, Chris and Saied explore why Cramer is, in fact, wrong in this assertion (and a good deal more). They discuss a report from real estate brokerage Redfin saying that a record number of homes are being delisted as sellers face a sharp drop in demand. On average, 2% of homes for sale were delisted without being sold each week during the three months ended Nov. 20 compared to 1.6% a year earlier. Chris and Saied offer some insights into the belief by traders that the Federal Reserve will drive its policy rate above 5% by May, following a report showing little sign of a cooling job market. This is in spite of the central bank's aggressive interest-rate increases so far. They also discuss recent comments from Bank of America, which is expecting nonfarm payroll gains to be cut in half in Q4 of 2022 and turn negative in 2023. During the first quarter of 2023, the bank projects that the U.S. will be losing roughly 175,000 jobs a month. Join Chris and Saied for this fascinating conversation. Enjoy! What You’ll Learn in this Show:
Resources: "Strong Job Numbers Throw Cold Water on Hopes for an End to Interest-Rate Rises" (article from Barron's) "Traders now see Fed policy rate hitting 5% next year" (article from Reuters) "The Fed can’t stop raising interest rates due to these 4 factors, Jim Cramer says" (article from CNBC) "Home Sellers Are Pulling Properties off the Market at Record Pace" (article from Bloomberg) "Payrolls and wages blow past expectations, flying in the face of Fed rate hikes" (article from CNBC) "BofA warns that the US economy will start to lose 175,000 jobs per month during Q1 of 2023, expects a ‘harder landing’ rather than a softer one — here’s why" (article from Yahoo! Finance) "The Liver King Lie" (via YouTube) "Liver King Confession... I lied." (via YouTube) | |||
| 15 Sep 2023 | A HUGE Mistake, Goldilocks & Haroon Returns | 01:06:02 | |
Haroon has returned and has already put in for his next PTO request in November where he thought he would be visiting the European country of Belize. While discovering that being Muslim is not an ethnicity, we quickly hop on over to a warning issued by JP Morgan's CEO, Jamie Dimon. Jamie D is suggesting that it would be a "huge mistake" to think the economy will boom. Yet, at the same time, new data suggests that the fall in home prices may already be over. Confused? Don't be, we explain what we think is happening. All three of us discuss the Fed's own economist's prediction of a "Goldilocks" scenario where we have no recession, low inflation, and positive growth. Then to cap the show Haroon provides some important life advice. Resources: Jamie Dimon says it’s a ‘huge mistake’ to think economy will boom with so many risks out there (CNBC) The Fall in Home Prices May Already Be Over (Wall Street Journal) The US is on course to build more apartments than ever in 2023 (Chartr Daily Instagram) Business Bankruptcies Soar in August as Rising Interest Rates Bite (Bloomberg) The Fed's own economists now expect a Goldilocks scenario: No recession, low inflation, and positive growth(Business Insider) Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content. | |||