Episode 80

full
Published on:

14th Oct 2022

Jamie Dimon Says a Recession is Looming, Logan Paul Takes an L and Q&A

On Monday, at JPMorgan Chase's Techstars conference in London, CEO Jamie Dimon said that a “very, very serious” mix of headwinds was likely to tip both the U.S. and global economy into recession by the middle of next year. Dimon said the U.S. economy was “actually still doing well” at present and consumers were likely to be in better shape compared with the 2008 global financial crisis. “But you can’t talk about the economy without talking about stuff in the future — and this is serious stuff.”

In today's episode of The Higher Standard, Chris and Saied take a closer look at this "serious stuff," as well as Dimon's warning that we could be looking at a recession in 6 to 9 months.


They discuss the recent Producer Price Index (PPI) report, including what exactly it is and how it acts as a kind of tertiary metric that provides insight into how inflation is likely to be reported.


Chris and Saied look at an open letter written by Cathie Wood, founder, CEO and CIO of Ark Invest in which she says that the Federal Reserve has been making a big mistake by over-hiking rates and using lagging indicators to make their decisions.


They discuss a recent article claiming that an NFT that YouTuber and social media personality Logan Paul purchased for $600,000 is now worth... $10.


Chris and Saied also explore the dichotomy between mortgage rates and homebuyer hesitation. The interest rate on the most popular home loan in America has fallen for the first time in seven weeks. Yet even with the decline, the average 30-year fixed mortgage rate is still more than double what it was last year.


Join Chris and Saied for this fascinating conversation.


Enjoy!



What You’ll Learn in this Show:

  • What exactly the PPI report is and how it acts as a kind of tertiary metric that provides insight into how inflation will be reported.
  • Cathie Wood's open letter to the Fed criticizing ‘mistakes’ it has made with excessive rate increases and the reliance on lagging indicators.
  • Logan Paul's $600,000 NFT investment, whose value has taken a nosedive to the tune of roughly $599,990.
  • The reasons why mortgage rates are down for the first time in nearly two months, but hesitation remains high.
  • And so much more...


Resources:

"The 15 Largest Banks in America" (article from Bankrate)

"Mortgage rates step back from the brink, but hesitation is still at a 25-year high" (article from MoneyWise)

"The NFT Logan Paul purchased for over 600K is now worth $10" (Jungleboys via Instagram)

"What Is Logan Paul’s $623,000 Azuki NFT Worth Today?" (article from BeInCrypto)

"Cathie Wood Warns Fed of Policy Error as Rate Hikes Hit ARK ETFs" (article from Bloomberg)

"‘This is serious’: JPMorgan’s Jamie Dimon warns U.S. likely to tip into recession in 6 to 9 months" (article from CNBC)


Next Episode All Episodes Previous Episode

Listen for free

Show artwork for The Higher Standard

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

Profile picture for Christopher Naghibi

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.