The Higher Standard

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)The man who bought the NYSE just made a $11.9 billion bet that he can fast-track your mortgage for far less than you’re paying now (Fortune)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.

In their second show without Haroon, who continues to be out on PTO in “The Sac,” Chris and Saied decide to crack a few of their own cans during the show in order to pay homage.  Shortly after lamenting the value of Haroon’s contributions they jump in to New York City’s crackdown on Airbnb and what this could mean if other cities follow suit.  They examine the Fed’s Beige Book data, what it tells us about the Fed’s perspective going into the September Fed meeting and give their predictions on whether or not there will be another 25 bps rate increase to Fed Funds.  They then pivot to Roku’s stock jumping after laying off 10% of their workforce while WeWork is reportedly renegotiating all of its leases.  The round out the show by reading on the National Association of Realtors new class action lawsuit, but stop short of a full analysis because they are going to need more time to review the legal filings. It is an episode chalked full of laughs and facts, so make sure to wear your manpon.  Resources:New York City's crackdown on Airbnb and short-term rental goes into effect (Guardian)Fed's Beige Book Shows Slower Activity Growth and Hiring in Peak Summer (Bloomberg)Roku stock jumps after company says it will lay off 10% of workforce (CNBC)WeWork CEO says company is ‘here to stay’ as it renegotiates ‘nearly all our leases’ (CNBC)Monumental NAR lawsuit snags class action status (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.

They boys open the show without Haroon who is once again out on PTO while he visits his in-laws in "Sac." They quickly jump in to a discussion regarding the changing landscape of home insurance in America. Many home insurers are starting to or have already cut natural disaster from policies as climate risks continue to mount. As a proxy, Chris and Saied leverage a Wall Street Journal article which asks the question "Are we ready for a $100 billion dollar catastrophe?" Global insured losses from natural disasters and the number of billion-dollar insured loss events worldwide have increased over time visibly. After all the negativity, Chris wanted to make a pivot in to something positive and highlights an article from CNBC which identifies the three things that Americans say define wealth in their mind. Shockingly none of them require making money, but most of them are a byproduct of making money. Without Haroon in the studio, you will need to pay homage to him by opening a beverage mid-show in order to cover for him in his obnoxious absence. Resources:The Fed's preferred inflation measure stayed high in July — and consumers are continuing to spend (CNN Business)Bigger Pockets x The Data Deli Instagram (Instagram)Full impact of Fed hikes still to be seen in real economy, ex-vice chair Blinder says (Reuters)Home insurers cut natural disasters from policies as climate risks grow (The Washington Post)Are We Ready for a $100 Billion Catastrophe? How About $200 Billion? (The Wall Street Journal)Americans say these 3 things define wealth -none of them require making a lot of money (CNBC)Americans Are Bailing on Their Home Insurance (The Wall Street Journal)Unemployment rate unexpectedly rose to 3.8% in August as payrolls increased by 187,000 (CNBC)Here's where the jobs are for August 2023 - in one chart (CNBC)Shoppers pull back on 'big ticket' items as furniture, appliance sales lag (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.

Warren Buffett and Michael Burry's recent actions suggest an impending recession. 61% of Americans are living paycheck-to-paycheck. US department stores are experiencing higher credit delinquencies amid strained spending.

The podcast covers topics such as Jerome Powell's threats concerning inflation, Zillow's questionable 1% down payment program, and the potential destruction of the housing market. They also discuss the impact of low mortgage rates on the housing market, the frustration with the Fed's decision-making process, and UFC fighter Israel Arasanya's fashion choices as a form of self-expression.

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:The experience-hungry American consumer is already crashing the economy into a ‘rolling recession,’ Oxford Economics says (Fortune)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.

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.

Well, damn it, mortgage rates just hit their highest level in 21 years and Chris, Saied and Haroon are here to tell you why.  Spoiler alert, they think the yield curve inversion has something to do with it and that the 10-year treasury has more to move up before the end of the year signaling 8% to end the year for mortgage rates as a possibility.  The Fed dropped their minutes where some of the FOMC members were apparently quoted as suggesting that another 25bps increase may be necessary; however, our Chief Economist is declaring shenanigans.  Chris pops off on real estate company Compass and apparently Janet Yellen micro-doses mushrooms when she visits China. Resources:Mortgage Rates Just Hit Highest Level In 21 Years (Forbes)Mortgage rates could hit 8%, economists say, citing a worrying sign not seen since the Great Recession (Market Watch)Fed officials see ‘upside risks’ to inflation possibly leading to more rate hikes, minutes show (CNBC)Unpaid commissions key ingredient in Compass’ cash-flow positivity (The Real Deal)Did Janet Yellen Accidentally Eat Psychedelics In China? What To Know About The Sold-Out Dish Cooked With Hallucinogenic Mushrooms (Forbes)Here's when the San Francisco Fed expects households to run out of COVID-era extra savings (Morning Star)Fed Saw ‘Significant’ Inflation Risk That May Merit More Hikes (Bloomberg)How Severe Is the Housing Shortage? It Depends on How You Define ‘Shortage’  (Wall Street Journal)Wall Street Is Ready to Scoop Up Commercial Real Estate on the Cheap (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.

In this captivating episode, we dive into the extraordinary life of Larry Wheels, a remarkable individual who's not only conquered the realms of bodybuilding, powerlifting, strongman and arm wrestling but has also taken the social media world by storm. Larry opens up about his journey, from being a teenage powerlifting prodigy to evolving into a multifaceted entertainer, influencer, and budding entrepreneur. In this hour-long interview, we explore Larry's candid reflections on his early use of performance-enhancing substances, shedding light on the challenges and lessons learned. As he shares his experiences, Larry also imparts invaluable wisdom for aspiring youth looking up to him, highlighting the importance of making informed decisions. The episode kicks off with Larry discussing his recent hospitalization due to a health scare involving Rhabdomyolysis, offering a raw and real glimpse into his life beyond the spotlight. Tune in for a conversation that goes beyond the surface, aiming to inspire and educate on "The Higher Standard." Also, please note, Saied was on vacation and only Chris and Haroon were present for the interview. Saied is still very salty about it, please don't mention it to him. This is our secret. Larry's Links:Larry Wheels WebsiteLarry's YouTube Channel Larry's InstagramLarry's Threads Larry's FacebookLarry's TwitterLarry's TikTokLarry's SnapchatLarry's Brands:PR LifestylePump & Power Meal PrepTranscend CompanyDisclaimer: 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.

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:When student loan payments resume, 56% of borrowers say they’ll have to choose between their debt and buying groceries (CNBC)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.