Shows
The Higher StandardThe Art of the Tariff: Trump Shakes the Global Trade TableChris Naghibi and Saied Omar toss aside their planned topics faster than a politician dodging a question to tackle the economic grenade President Trump just lobbed: tariffs. And not just any tariffs—reciprocal tariffs with the subtlety of a wrecking ball. With import taxes soaring as high as 49%, countries like China, India, and the EU are basically being told, “Nice try, but America first.” As global markets went into panic mode, futures took a nosedive, and investors clutched their portfolios like toddlers clinging to their blankies.➡️ But fear not—Chris and Saied break it all down with historical f...2025-04-081h 19
The Higher StandardInflation Is Rising & Consumer Protections Are Vanishing - What It Means for YouThis week, Chris and Saied tackle the latest inflation print that came in hotter than a tiger del fuego—and yes, that’s the official economic term now. With prices climbing for consumer staples like eggs (who knew you should’ve invested in chickens?), we dissect what this means for rate cuts, the Fed’s next move, and whether we’ll all just resort to eating cardboard to save money. And if you thought the government was on top of things, think again—because even regulators are scratching their heads over the latest CFPB drama. A federal agency created to protect c...2025-02-181h 23
The Higher StandardThe Psychology of Financial Decision-Making in Today's EconomyIn this mind-expanding episode of The Higher Standard, Chris and Saied take a detour from their usual financial deep dives to expose the sinister underbelly of human decision-making. Turns out, the economy isn’t broken—our brains are. From Robert Shiller’s Narrative Economics to Jonathan Haidt’s The Anxious Generation, the duo unpacks how financial markets, political ideologies, and your everyday spending habits are more influenced by viral stories and social media hysteria than by any rational thought process. Long story, short: You’re probably not making financial decisions—you’re reacting to the subconscious cues planted in your head by a...2025-02-111h 22
The Higher StandardUnlocking The Future With Quantum ComputingStrap in, folks! This episode of The Higher Standard dives into the mind-bending world of quantum computing, where traditional computers look like toddlers trying to do calculus compared to these futuristic behemoths. Chris and Saied break down how these machines are poised to change finance, security, and possibly the way your toaster thinks about bread. They also take a moment to discuss actual science before spiraling into side rants about social media trolls, the American dream, and why nobody really understands what venture capitalists do. Spoiler alert: It involves a lot of money and just the right amount of arrog...2025-02-041h 23
The Higher StandardWhy Your 401k Isn’t Enough: The Real Path to WealthThe Jeff Goldbum of podcasting, Chris Naghibi, and the Louie Anderson of podcasting, Saied Omar, are back, and this time they're tackling the economy with unfocused and unstructured charm. Starting with a light-hearted critique of Chris' newfound love for wearing green—a strategy he swears is to win favor at home but admits has been a complete flop. From there, the duo launches into the harsh realities of wage stagnation and rising home prices, painting a vivid picture of how even modest salary increases are devoured by the ever-growing beast of inflation. They break down why the average American is...2025-01-281h 23
The Higher StandardMoney Stress in America: Breaking Down Financial AnxietyIn this episode of The Higher Standard, Chris and Saied tackle the growing emotional toll of money management and the chaos of California’s insurance market. Against the backdrop of the devastating Los Angeles fires, they unpack how insurers are fleeing high-risk areas, leaving homeowners with overpriced, bare-bones policies like the California Fair Plan. With homes underinsured and rebuilding costs skyrocketing, the financial stress for affected residents is a wildfire of its own.➡️ But it’s not all doom and gloom! Chris and Saied bring their signature wit to dissect the psychology of money stress, sharing practical strategie...2025-01-141h 12
The Higher StandardYour 2024 Economic Year in ReviewHappy New Year! In this special year-end episode, Chris and Saied dive deep into the wild ride that was 2024, recapping the economy quarter by quarter with their signature mix of insight and banter. From the "pensive" start of the year where the Fed played cat-and-mouse with rate cuts to the real estate market's affordability crisis and the Magnificent Seven’s domination of Wall Street, this episode is packed with more twists and turns than a rollercoaster at an abandoned theme park. Whether it's debating AI's transformative potential, lamenting high mortgage rates, or pointing out the "Jersey Shore" dynamics of th...2024-12-311h 13
The Higher StandardThe Fed's Latest Move: Why Markets Are About to Get WildIn this episode, Chris and Saied break down the Federal Reserve’s latest rate cut, and let’s just say, it’s got everyone—from Wall Street to your wallet—feeling some kind of way. With a 25 basis point cut to the Fed Funds rate, inflation still refusing to play nice, and the bond market throwing a full-on tantrum, it’s clear: the Fed’s decisions are anything but boring. Oh, and don’t miss Chris’s hot take on how housing affordability has officially hit “you-can’t-make-this-up” levels of absurdity. Spoiler alert: the 10-year Treasury and your dreams of a lower mortgage rate...2024-12-241h 17
The Higher StandardYou Need To Know This About Your Job🎙️ In this episode of The Higher Standard, Chris and Saied take listeners on a rollercoaster ride through the land of leadership, stress, and... Whole Foods hot bars? 🍳 Yes, it’s that kind of episode.Starting with some playful banter about overpriced turmeric shots and parental leave policies (because Haroon is off becoming a “baby-making legend”), the hosts quickly shift gears to tackle the high-stakes world of corporate leadership. Chris gets real about his week of legal battles, emotional highs, and the unrelenting stress of balancing family life, work pressures, and the occasional existential crisis. All while trying to figure out...2024-11-261h 22
The Higher StandardMarkets vs. The Fed: Who’s Right About Inflation & Employment?In this episode of The Higher Standard, Chris and Saied take the stage as a dynamic duo, flying solo without their third musketeer, Haroon, who’s off on PTO (probably in a pickleball tournament or hiding from the Fed). With no one to keep them in check, the two dive headfirst into a whirlwind of financial insights, market predictions, and why the MAG 7 tech giants are carrying the S&P 500 on their backs like Atlas — except Tesla, whose latest earnings had investors buzzing despite mixed results. It’s a "two wise men" operation this week, and things get as real a...2024-10-291h 22
The Higher StandardFrom Basic Budgeting to Port Strikes & BananasThe 250th episode of The Higher Standard podcast marks a significant milestone packed with our unique style of humor and engaging discussions on financial literacy. Hosts Chris, Saied, and Haroon navigate the complexities of budgeting and personal finance with an entertaining twist. They delve into the nitty-gritty of establishing a payday routine, breaking it down into digestible segments for their audience. The conversation emphasizes the importance of a 60/30/10 budgeting rule, where 60% of income is allocated to essentials, 30% to savings, and 10% to discretionary spending. ➡️ Chris and Saied share their personal experiences, illustrating how small daily habits, like enjoying a mo...2024-10-081h 32
The Higher StandardThe Most Important Lessons In InvestingOkay, look, we admit it. We are a tiny bit older than 20 years-old and sure, that makes us the "old guys." But, it does mean we have lived through some good and bad decisions. Particularly when it comes to investing. Chris, Saied and Haroon open the show by breaking down their most important lessons in investing. Some have lead to big wins and some have lead to big losses. We hope they help you decide whether or not you are will to take the risk and invest on your own. ➡️ After a prolongated trip down memory lane, the...2024-05-141h 31
The Higher StandardHow To Value Real Estate Like The ProsSo many people use Zillow or Redfin to determine the value of their home, but should they? Even if you get a value, how do you have confidence that it is the right one and not skewed by the wrong data? Realtors would tell you to leave it to the professionals, but a fun fact is that Realtors are not licensed to value homes, but rather only to sell them. Chris, Saied and Haroon are going to tell you how to value your home like a licensed real estate appraiser. ➡️ The great real estate professionals use this same...2024-05-071h 23
The Higher StandardThe #1 Wealth Killer & Why The Jobs Report Is BrokenChris, Saied and the spirit of Haroon are back at it and still playing with an updated beta version of the format for "The Higher Standard" podcast. We are trying to hit you right in the face before the intro, before the shenanigans with useful financial literacy. We are still going to get in to current events and our take, but we want to make sure that each and every single one of you find value within each episode. So, please let us know what you think. We start off today's show with the #1 one killer of wealth. Auto...2024-03-191h 18The Higher StandardTumultuous Times Ahead, Haroon On PTO & UncertaintySpoiler 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...2023-12-191h 24The Higher StandardHousing Affordability, Realtor Problems & Saied Is GrumpyFrom 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 & F...2023-10-271h 27The Higher StandardRents Dropping, Syndications Popping & Apple JuiceSpoiler 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...2023-10-201h 25The Higher StandardWhat This Crazy Bond Market Means For YouChris, Saied and Haroon have been building up slowly on our collective knowledge and discussions about the bond market. Well, in this episode we put it all together and talk about how its current status is likely going to impact you and all the news you're hearing. But first, the boys jump in to some compelling financial facts they quote from one of their favorite X pages - The Kobeissi Letter. One of the boys' favorite economists Mohamed A. El-Erian says that "something is likely to break" after the most recent jobs data came out. And, we are in...2023-10-131h 12The Higher StandardThe Fed Holds, Housing Peaks & Saied FistingIn 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...2023-09-261h 04The Higher StandardFed Meeting, $100 Billion Loss & Saied is RFK, Jr.Please place all seat back and tray tables in their locked and upright positions, because you're about to go on a long voyage of economic data baby! Saied, Chris and Haroon are back and they have a lot to talk about in this episode. The September 20th Fed announcement hasn't even happened yet and Goldman Sachs is already saying that the Fed is unlikely to raise rates in November. So, naturally The Higher Standard had to chime in to the debate. Chris offers up a questionable segue into why a soft landing could not only be elusive, but then...2023-09-221h 07The Higher StandardInflation, Income, Home Prices & A 3 Star ReviewWith 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...2023-09-191h 09The Higher StandardRolling Recession, Mortgage Rates & Why Saied?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...2023-08-291h 06The Higher StandardRecession Odds Are A Joke & Saied Is Basically DrakeIn Episode 162 of The Higher Standard Podcast, Chris, Saied and Haroon discuss why they believe a majority of US Economists are wrong about their predictions on whether or not the US will be entering a recession. They explain how analysts track and predict earnings for US publicly traded companies and how A.I. has impacted this space. They dive in to earnings from American Express and how it showcases record spending. Chris takes it a step further by shedding light on the human condition of wanting to believe in optimism while some at JPMorgan believe the time to sell...2023-07-281h 00The Higher StandardCardone Gets A Spanking, Fed Now, Cry Later & Non-Recession, RecessionChris and Saied welcome back Haroon after being gone for a few episodes. The Huffington Post blasts "influencer" Grant Cardone in a sensational new article which speaks to many of the criticisms shared by Chris, Haroon and Saied on previous shows. Naturally, they get in to it and tell you how they really feel while providing insight in to why most of his purported investors don't understand what they are signing up for. They also explain how the Fed's looming instant payment modernization rollout is long overdue, but may be the first steps at a nationalized cryptocurrency. They dive...2023-07-251h 00The Higher StandardHome Price Regression, Two Economists and Two Road TripsAccording 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...2023-07-211h 01The Higher StandardInflation Breakdown and How to Interview for a JobGoldman 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 th...2023-07-181h 22The Higher StandardInterest Rates, Yield Curve, The Banks, Outies & ConspiraciesThere is good news on inflation in store for Americans. The Labor Department is expected to report that overall inflation fell to about 3% in June, the lowest in two years. Excluding volatile food and energy prices, core consumer price inflation is expected to drop to around 5%, an 18-month low, from 5.3%. Economists think core inflation could ebb further in coming months, to between 3.5% and 4%, depending on the price index. The bad news: Getting inflation down further from there, to the Federal Reserve’s 2% target, will prove difficult if the economy keeps chugging along. That could force the Fed to keep mo...2023-07-141h 22The Higher StandardBS Jobs Report, Bankruptcies, and Haroon Ends The ShowThe 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, acco...2023-07-111h 16The Higher StandardThe Special 4th of July EpisodeMillions of Americans will have to prepare to repay the entire balance of their student debt now that the Supreme Court has overturned President Biden’s loan-forgiveness plan. After a three-year pause in payments and months of uncertainty and legal challenges, the program won’t be allowed to move forward. The Biden administration’s forgiveness plan would have wiped out up to $20,000 in federal student-loan debt for qualified borrowers. The court ruled in a 6-3 decision Friday that the Education Department doesn’t have the authority to implement a program that would change student loans this way.In this...2023-07-071h 03The Higher StandardGDP Revised, Trillians of M&A & Don't Be a RichardThe 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...2023-07-041h 19The Higher StandardSan Francisco Needs Batman, Return To Office & Home SalesIn 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, Ch...2023-06-301h 20The Higher StandardTitanic Tragedy, Jerome Powell is Grilled & The Data Is TalkingFed 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...2023-06-271h 08The Higher StandardDr. Doom's Ridiculous Glasses, MJ v. Prince and Why Economists are LateUS Federal Reserve officials struck a hawkish tone in their first comments since the central bank held the policy interest rate steady at its meeting this week but signaled that rate hikes will likely resume. Federal Reserve Governor Christopher Waller said that changes in US credit conditions since the failure of Silicon Valley Bank in early March were 'in line' with financial tightening that was already underway due to Federal Reserve interest rate increases - comments that downplayed the idea a worse-than-anticipated contraction in credit might make further Fed rate increases less necessary.In this episode of...2023-06-231h 20The Higher StandardJerome Powell is Skipping, Inflation and CEO to DJThe stock market is growing more optimistic about US regional banks, but the lenders still face serious pressure. A credit "contraction is invariably coming," Soros Fund Management Chief Executive Officer Dawn Fitzpatrick has said, adding that additional banks will fail because "there are more problems under the surface." One further source of trouble for the industry will be commercial real estate, an area that in recent years smaller and regional banks have become a bigger force in.In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have...2023-06-201h 18The Higher StandardDavid Solomon, How To Use Credit Cards & Bonds For DummiesThe 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 eff...2023-06-161h 14The Higher StandardThe Truth About Home Prices, Brian's Bad Advisor & Adam ScoresAccording to Michael Gapen, Bank of America's chief economist, the US economy will likely face a mild recession later this year, but the risk of a severe economic downturn appears low as of now. A correction of labor-market imbalances is needed to bring inflation back down to the Federal Reserve's 2% target, and that typically looks like a mild recession. With risks receding, stress in the banking sector stabilizing, and macroeconomic trends looking good, Gapen said the Fed faces a tough decision regarding interest rates and investors can't completely rule out the possibility of another hike.In this...2023-06-131h 11The Higher StandardIt's Raining Jobs, Ramsey and CZ Have Problems and Let's be SexyThe Securities and Exchange Commission filed 13 charges against Binance, the world's largest crypto exchange, and its founder, Changpeng Zhao, alleging both commingled billions of dollars worth of user funds and sent them to a European company controlled by Zhao. The U.S. regulator alleged on Monday that Zhao and his exchange worked to subvert ‘their own controls’ to allow high-net-worth U.S. investors and customers to continue trading on Binance's unregulated international exchange.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 wh...2023-06-091h 05The Higher StandardA Record Plunge, Goldman goes from Bad to Worse and Landlord ProblemsGoldman 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...2023-06-061h 17The Higher StandardRecession is Here, Don't Tell The Fed & Don't 10X EVERU.S. consumer spending increased more than expected in April, boosting the economy's growth prospects for the second quarter, and inflation picked up, which could prompt the Federal Reserve to raise interest rates again next month. The growth picture was further brightened by other data from the Commerce Department on Friday showing a surprise rebound last month in orders of manufactured non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans.In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy...2023-06-021h 08The Higher StandardSavings You Need, The Fed is Confused and Private Equity BoomingDeposit runs have led to the collapse of three U.S. banks this year, but another concern is building on the horizon. According to JPMorgan Chase CEO Jamie Dimon, commercial real estate is the area most likely to cause problems for lenders. U.S. banks have experienced historically low loan defaults over the last few years due to low interest rates and the flood of stimulus money unleashed during the Covid-19 pandemic. However, the Federal Reserve has hiked rates to fight inflation, which has changed the landscape. Commercial buildings in some markets, including tech-centric San Francisco, may take a...2023-05-301h 11The Higher StandardDissension Amongst the Fed Ranks and Chris RantsFederal Reserve Bank of Cleveland President Loretta Mester has said that she does not think the U.S. central bank is at a point yet where it can hold interest rates steady for a period of time, given how stubborn inflation is. Federal Reserve Chair Jerome Powell has signaled the central bank may pause further rate hikes as it assesses the impact of its past tightening, as well as the effect of recent bank sector stress on lending and credit.In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect...2023-05-2648 minThe Higher StandardRIP Sam Zell, Home Depot Falls Off and Remodels are MidAccording 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...2023-05-2353 minThe Higher StandardConsumer Debt Hits New High, Burry Believes in Bank and JP Got BarsTotal 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....2023-05-191h 16The Higher StandardInflation Isn't What You Think, Tipping is Out of Control and Pot Calling the KettleThe number of Americans filing new claims for unemployment benefits have jumped to a 1-1/2-year high, pointing to cracks in the labor market as demand slows, potentially giving the Federal Reserve room to halt further interest rate increases next month. With demand cooling, inflation pressures are subsiding. Data from the Labor Department indicates that producer prices rebounded modestly in April, leading to the smallest annual increase in wholesale inflation in more than two years.In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the...2023-05-161h 14The Higher StandardThe Recession is Looming, Jobs Report and Finance Slum Dog MillionaireThe Pandemic Housing Boom saw a flood of institutional homebuying. Low interest rates, easy access to capital, soaring rents, and skyrocketing home values were just too good a deal for Wall Street types like Blackstone and iBuyer players like Opendoor Technologies to pass on. However, it seems that institutional homebuyers are pulling back. According to an analysis conducted by John Burns Research and Consulting, institutional investors — those owning over 1,000 homes — bought 90% fewer homes in January and February than they did in the first two months of 2022. Invitation Homes, the largest owner of U.S. single-family rental homes recently became a ne...2023-05-121h 12The Higher StandardThe Fed Kills Banks, the Aftermath and the Galactic MenagerieEmployment 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...2023-05-091h 18The Higher StandardThe Big First Republic EpisodeRegulators have seized First Republic Bank and sold its assets to JPMorgan Chase & Co in a deal to resolve the largest U.S. bank failure since the 2008 financial crisis and draw a line under a lingering banking turmoil. First Republic was among regional U.S. lenders most battered by a crisis in confidence in the banking sector in March, when depositors fled en masse from smaller banks to giants like JPMorgan as they panicked over the collapse of two other mid-sized U.S. banks.In this episode of The Higher Standard, Chris and Saied examine this news...2023-05-051h 18The Higher StandardGDP Breakdown, Home Value Hype and FRC Wants a HandyGrowth in the U.S. slowed considerably during the first three months of the year as interest rate increases and inflation took hold of an economy largely expected to decelerate even further ahead. According to the Commerce Department, gross domestic product (GDP) rose at a 1.1% annualized pace in the first quarter. Economists surveyed by Dow Jones had been expecting growth of 2%.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 stating...2023-05-021h 11The Higher StandardCredit Doesn't Matter, Sam Zell is Downgrading Work from Home and the Repo ManMany 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...2023-04-281h 16The Higher StandardBeige Book, Look at Earnings and Saied is the VillainThe US economy stalled in recent weeks, with hiring and inflation slowing and access to credit narrowing, the Federal Reserve said in its Beige Book survey of regional business contacts. "Overall economic activity was little changed in recent weeks," the Fed said in the report, published two weeks before each meeting of the policy-setting Federal Open Market Committee. "Several districts noted that banks tightened lending standards amid increased uncertainty and concerns about liquidity. Overall price levels rose moderately during this reporting period, though the rate of price increases appeared to be slowing."In this episode of The...2023-04-251h 25The Higher StandardJanet Yellen is Sexy, Site Your Sources, Rent is Falling and Home RapAccording 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."...2023-04-211h 10The Higher StandardIt's Time to get Frank, Banks and Boing BoingReleased 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....2023-04-181h 15The Higher StandardDr. Doom's Boom, Strong Job Numbers and AI is ComingAccording 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...2023-04-141h 17The Higher StandardJim Cramer Says You're Good Unless you Work HereOne 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...2023-04-1153 minThe Higher StandardCharles Schwab Goes out for McDonalds and Gets Verified$47 billion. That's the amount of market capitalization Charles Schwab has had wiped out in just one month. The stock fell 33% between Feb. 28 and March 31. At the end of February, Charles Schwab's shares were trading at around $77.92. A month later, the price fell to $52.38. This is Charles Schwab's worst month since the October 1987 stock market crash, known as Black Monday. That day, the Dow Jones index lost 508 points, a decline of 22.6% and the largest daily decline in a stock market index at the time. Only the drop by 76% of the Icelandic stock market in 2008 would exceed this record....2023-04-0752 minThe Higher StandardRawcession, Charles Schwab has Trouble and Saied Gets Pink EyeAs the US banking crisis drags on, investors are starting to unearth risks within Charles Schwab that have been hiding in plain sight. Unrealized losses on the firm’s balance sheet, loaded with long-dated bonds, ballooned to more than $29 billion last year. At the same time, higher interest rates are encouraging customers to move their cash out of certain accounts that underpin Schwab’s business and bolster its bottom line.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.2023-04-041h 24The Higher StandardJerome Powell vs Ben Bernanke and Paul Volcker, Bank Conspiracy Theory and Don't Do ThisAs a series of U.S. lenders were besieged by customers yanking out their money this month, banking giants such as JPMorgan Chase & Co, Citigroup Inc. and Bank of America Corp. warned employees: Do not make it worse. JPMorgan, the nation's largest bank, told all employees they "should never give the appearance of exploiting a situation of stress or uncertainty," in a March 13 memo. "We do not make disparaging comments regarding competitors."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...2023-03-311h 25The Higher StandardJanet Yellen vs. Jerome Powell, a Recession Looms and Millennials Messed Up EverythingRecession 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...2023-03-281h 36The Higher StandardCredit Suisse Sells, Regional Banks and the Key to HappinessBanking 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...2023-03-241h 22The Higher StandardThe Aftermath: Credit Suisses Lifeline and Consumer SpendingIn a morning where more banking turmoil emerged and stocks opened sharply lower on Wall Street, traders shifted pricing to indicate that the Fed may hold the line when it meets March 21-22. According to CME Group data, the probability for no rate hike shot up to as high as 65%. Trading was volatile, though, and the latest moves suggested nearly a 50-50 split between no rate hike and a 0.25 percentage point move. Chairman Jerome Powell and his fellow policymakers will resolve the question over raising rates by watching macroeconomic reports that continue to flow in, as well as data...2023-03-211h 26The Higher StandardThe Big SVB EpisodeAs we already know, Silicon Valley Bank, one of tech’s favorite lenders, has collapsed, becoming the second-largest bank failure in US history. The bank’s blowup has sent shockwaves across the tech sector, Wall Street, and Washington, amid concerns that other banks could be in trouble or that contagion could set in. In the days after SVB’s collapse, the panic appeared to spread, leading to the failure of additional banks, including Signature Bank of New York, which had bet on crypto. But it’s not clear how serious the fallout will be.In this episode of The H...2023-03-171h 31The Higher StandardJerome Powell’s Testimony, Silicon Valley Bank and Poor People TaxFederal Reserve Chairman Jerome Powell has cautioned that interest rates are likely to rise higher than central bank policymakers had expected. Citing data showing that inflation has reversed the deceleration it showed in late 2022, Powell warned of tighter monetary policy ahead to slow a growing economy. His remarks imply that the peak, or terminal, level of the federal funds rate is likely to be higher than the previous indication from the Fed officials, and also that the switch last month to a smaller quarter-percentage point increase could be short-lived if inflation data continues to run hot.In...2023-03-141h 28The Higher StandardHome Prices Are Falling Charlie Munger Goes Off & CommunicationHome 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...2023-03-101h 28The Higher StandardCramer To The Moon, Bonds Are Bonkers & Social MediaIn recent episodes Chris and Saied have highlighted some of the things that get people excited in the current market. Today, however, Chris emphasizes that conditions have changed and there is a new call for concern. Time to be extra observant. Stocks move lower as bond yields extend their gains. The 10-year Treasury hit 4% and the 1-year treasury rose 3 basis points. The Minneapolis Fed Reserve President Neel Kashkari has said that he is open to the possibility of a larger interest rate increase at this month's policy meeting on March the 22.But first Chris and Saied explore...2023-03-071h 19The Higher StandardInflation Swerve, OpenDoor and UFOs are More Real than CryptoA 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...2023-03-031h 33The Higher StandardJamie Dimon vs. Jim Cramer, 2.3 Trillion Dollar Home Problem and Extremes are BadRedfin 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...2023-02-281h 24The Higher StandardSam Zell, No Landing and $1 Trillion Dollars of DebtBank of America analysts warn that the U.S. economy could be headed for a "no landing" scenario thanks to the hot labor market, but that might not be good news for the stock market. BoA chief economist Michael Hartnett predicted a "no landing" scenario in the first half of the year, where there is no immediate slowdown in growth but inflation remains above trend. That would likely force the Fed to raise interest rates much higher than previously forecast — and keep them elevated for longer.In this episode of The Higher Standard, Chris and Saied examine th...2023-02-241h 13The Higher StandardExpectations Blown Away, Record Consumer Debt and Chris' SoapboxRetail 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...2023-02-211h 13The Higher StandardThe Next Shoe To Drop, Crypto Restrictions and Watching LasersSo it's finally happened. The Federal Reserve Board warned member banks that it intends to presumptively prohibit a large portion of cryptocurrency banking activity, as the demand for more guidance over digital assets has grown following rampant instances of fraud. The regulator issued a new policy largely prohibiting digital assets from the regulated banking environment, primarily due to security concerns.In this episode of The Higher Standard, Chris and Saied examine this news and try to determine what effect it will have on the crypto space.They discuss a recent Gallup poll...2023-02-171h 43The Higher StandardThe Fed Pivots, Disney to Yahoo and Saied is Going to FaceTimeIan Shepherdson, founder and chief U.S. economist of Pantheon Macroeconomics, believes that home prices may fall another 15% in 2023, citing the large disparity between property costs and buyer incomes. He predicted the eventual housing crash of 2008 in 2005 and recently suggested that the price-income gap, coupled with increased house supply and high mortgage rates, may precipitate a period of continued deceleration of the housing market rather than a significant rebound this year.In this episode of The Higher Standard, Chris and Saied examine this prediction, and attempt to determine just how likely it could be based on current...2023-02-141h 10The Higher StandardJobs Report Crushes Dreams, China Spying and Toilets, Glizzies and HeathersEmployers 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...2023-02-101h 27The Higher StandardThe Fed Bumps, Job Openings Surge, ChatGPT and SeattleReal estate brokers across the country are using ChatGPT to pen emails and write property listings. The AI chatbot ChatGPT has made waves in sectors from tech to media since it launched to the public two months ago. As the AI software grows in popularity, people are finding more and more creative ways to put the tech to use — including making it write flowery descriptions for real estate listings. As the technology emerges as a tool for realtors, some experts say AI is well on its way to becoming an industry standard. Use of AI has spread far and wi...2023-02-071h 27The Higher StandardCrypto Banks, Amateurs are Beating Wall Street and Paycheck-to-PaycheckAccording to an index of building occupancies in 10 major metro areas by security firm Kastle Systems, more than half of workers went to the office last week, the first time that return-to-office rates crossed 50% of their pre-pandemic levels. All of the cities tracked by the company — including San Francisco, Chicago and Austin, Texas — reached return-to-office levels of 40% or above, which was also a post-pandemic first.In this episode of The Higher Standard, Chris and Saied examine this and many other stories and attempt to cut through the spin and the rhetoric to get at the truth.2023-02-031h 30The Higher StandardMore Art Than Science, Utah Stumbles and Paper Ass GasketsAccording 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 wi...2023-01-311h 19The Higher StandardThe US Balls Too Hard, Layoffs on the Rise, Disney Fumbles and Indochino SucksThe job cuts in the tech industry continue to pile up. Google announced plans to lay off 12,000 people from its workforce, while Microsoft said that it’s letting go of 10,000 employees. Amazon also began a fresh round of job cuts that are expected to eliminate more than 18,000 employees and become the largest workforce reduction in the e-retailer’s 28-year history. The layoffs come in a period of slowing growth, higher interest rates to battle inflation, and fears of a possible recession next year.In this episode of The Higher Standard, Chris and Saied examine this news and as a...2023-01-271h 12The Higher StandardCrypto, BNPL, AMEX Crushes it and Chris Hates Shark TankThe 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...2023-01-241h 14The Higher StandardInflation, Optimism, the World Bank and Eggs Will Make you RichFollowing 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 Th...2023-01-201h 22The Higher StandardAndy Tran | A Career Born from YouTubeIn today's episode of The Higher Standard, Chris and Saied sit down with Andy Tran, photographer, YouTuber and owner of Andy's Cuts Barbershop, a classic barbershop specializing in modern and old-school haircuts, based out of Fountain Valley, California.Andy explains his path to creating Andy's Cuts, from running down a YoutTube 'rabbit hole' looking for hairstyle inspiration to finally deciding to enter barber college and learn to do it for himself.They discuss the now-famous 10,000 hour rule, and how Andy realized that to be successful, he had to work harder and put...2023-01-171h 12