Episode 95

full
Published on:

6th Dec 2022

Black Friday Goes Off, Dr. Doom Is Back and Chris Offends Everyone

Consumers spent a record $9.12 billion online shopping during Black Friday this year, according to Adobe, which tracks sales on retailers' websites. Overall online sales for the day after Thanksgiving were up 2.3% year over year, and electronics were a major contributor, as online sales surged 221% over an average day in October. Toys were another popular category for shoppers, up 285%, as was exercise equipment, up 218%. Buy Now Pay Later payments increased by 78% compared with the past week, beginning Nov. 19, as consumers continue to grapple with high prices and inflation.

In today's episode of The Higher Standard, Chris and Saied dig into these numbers and attempt to make sense of them.


They discuss a recent story indicating that Airbnb is recruiting multifamily landlords for short-term rentals at properties, as well as the problems that surround mutifamily properties.


Chris and Saied offer some insights into how blockchain companies like BlockFi work in light of the company's recent Chapter 11 bankruptcy listing.


They also discuss the reasons why the fanfare and sensationalism surrounding cryptocurrency has now vanished, and why crypto will never be the same.


Join Chris and Saied for this fascinating conversation.


Enjoy!



What You’ll Learn in this Show:

  • How and why the S&P jumped over 700 points in just a week.
  • Why S&P Global Ratings economist Beth Ann Bovino is telling people to brace for  a recession in 2023.
  • Why private hiring has slowed sharply in November.
  • 'Dr Doom' Nouriel Roubini's seven Cs of crypto: Concealed, corrupt, crooks, criminals, con men, carnival barkers and CZ.
  • And so much more...


Resources:

"Black Friday online sales top $9 billion in new record" (article from CNBC)

"Americans are spending $433 more a MONTH for the same products due to crippling inflation as consumer prices rocket 8% to nearly highest level in 40 years" (article from The Daily Mail)

"Collapse" in home prices is coming, experts say" (article from Axios)

"Home sales could plunge in 2023. These cities could see the biggest dips." (article from CBS News)

"Airbnb recruits multifamily landlords for sublets" (The Real Deal via Instagram)

"A Recession Akin to 1969-1970 Awaits U.S. Next Year, Economist Warns" (article from Barron's)

"30 under 30" (Forbes via Instagram)

"Fed officials see smaller rate hikes coming ‘soon,’ minutes show" (article from CNBC)

"Retiring baby boomers are getting wiped out by inflation and a volatile stock market: ‘It’s extremely scary’" (article from Yahoo! Finance)

"BlockFi lawyer tells bankruptcy court that the priority is to ‘maximize client recoveries’" (article from CNBC)

"Private hiring increased by just 127,000 jobs in November, well below estimate, ADP reports" (article from CNBC)

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About the Podcast

The Higher Standard
This isn’t a different standard, it’s the higher standard.
Welcome to the Higher Standard Podcast, where we give you ultra-premium, unfiltered truth when it comes to building your wealth and curating the lifestyle of your dreams. Your hosts; Chris Naghibi and Saied Omar here to help you distill the immense amount of information and disinformation out there on the interwebs and give you the opportunity to choose a higher standard for yourself. Sit back, relax your mind and get ready for a different kind of podcast where we elevate your baseline with crispy high-resolution audio. This isn't a different standard. It's the higher standard.

About your host

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Christopher Naghibi

Christopher M. Naghibi is the host and founder of The Higher Standard podcast — a rapidly growing media platform delivering unfiltered financial literacy, real-world entrepreneurship lessons and economic commentary for the modern era.

After nearly two decades in banking, including his most recent role as Executive Vice President and Chief Operating Officer of First Foundation Bank (NYSE: FFWM), Christopher stepped away from corporate life to build a brand rooted in truth, transparency, and modern money insights. While at First Foundation, he had executive oversight of credit, product development, depository services, retail banking, loan servicing, and commercial operations. His leadership helped scale the bank’s presence in multiple national markets from $0 to over $13 billion.

Christopher is a licensed attorney, real estate broker, and general building contractor (Class B), and he brings a rare blend of legal, operational and real estate expertise to everything he does. His early career spanned diverse lending platforms, including multifamily, commercial, private banking, and middle market lending — holding key roles at Impac Commercial Capital Corporation, U.S. Financial Services & Residential Realty, and First Fidelity Funding.

In addition to his media work, Christopher is the CEO of Black Crown Inc. and Black Crown Law APC, which oversee his private holdings and legal affairs.

He holds a Juris Doctorate from Trinity Law School, an MBA from American Heritage University, and two bachelor degrees. He is also a graduate of the Yale School of Management’s Global Executive Leadership Program.

A published author and sought-after speaker (unless it’s his son’s birthday), Christopher continues to advocate for financial empowerment. He’s worked pro bono with families in need, helped craft affordable housing programs through Habitat for Humanity, and was a founding board member of She Built This City — helping spark interest in construction and trades for women of all ages.