Episode 84

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Published on:

28th Oct 2022

Fastest Way To Make $100k A Year, Dr. Doom's Prognosis and Q&A

We're headed for a financial crisis that's even worse than the 1970's, says 'Dr. Doom.' No, not the comic book character, economist Nouriel Roubini, known for his bearish prognostications. He believes that due to a rolling series of supply shocks, we'll have a severe downturn before we get relief from inflation.

In today's episode of The Higher Standard, Chris and Saied dive into this dire prediction and offer some of their own thoughts as well.

They discuss the debt crisis, which they refer to as an 'affordability crisis,' how it will continue to affect us all as consumers as we move deeper into the recession.


Chris and Saied look at a chart from Fortune magazine showing plunging house prices in 51 out of 60 major cities, such as San Jose, Boston and Seattle, with the west being hit hardest of all.


They discuss why the belief that rates will go down as fast as they went up is flawed, owing to banks attempting to protect their returns as rates drop.


Chris and Saied also look at a recent article from Bloomberg stating that rent gains are finally starting to slow in many parts of the US, cooling a years-long boom that sapped affordability from coast to coast. In other words, demand from tenants is suddenly sinking.


Join Chris and Saied for this fascinating conversation.


Enjoy!


What You’ll Learn in this Show:

  • 'Dr. Doom's prediction of the mother of all debt crises.
  • Why mortgage bankers expect rates to drop to 5.4% in 2023.
  • The reasons why student debt relief is not ideal for everyone.
  • Why Intel's cost-cutting measures should help boost their stock price, at least in the short term.
  • And so much more...


Resources:

"'Dr. Doom predicts a financial crisis that's 'worse' than the 1970's" (Bloomberg Business via Instagram)

"Housing: Existing home sales drop for 8th straight month in September" (article from Yahoo! Money)

"Housing’s stunning downfall in one chart: Prices have plunged in 51 of these 60 cities, and there’s much further to fall" (article from Fortune)

"Mortgage bankers expect rates to drop to 5.4% in 2023. Here's what means for home prices" (article from MarketWatch)

"U.S. weekly jobless claims fall" (article from Reuters)

"Starter Homes Are Only Affordable in Four Cities" (article from The Street)

A looming recession isn't slowing down luxury goods sales" (article from Business Week)

"Intel Layoffs: Will Intel Stock Keep Going Up By Cutting Costs?" (article from Forbes)

"Renters Hit Breaking Point in a Sudden Reversal for Landlords" (article from Bloomberg)

"Apple Hikes Music and TV+ Prices in First Increases Since Launch" (article from Bloomberg)


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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.