Episode 114

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Published on:

10th Feb 2023

Jobs Report Crushes Dreams, China Spying and Toilets, Glizzies and Heathers

Employers 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 whole.


They discuss ARK Investment Management CEO Cathie Wood’s comments that ARK is "the new Nasdaq," adding that her flagship fund now gives investors better exposure to long-term innovation than most of the market’s most popular growth stock benchmarks.


Chris and Saied look at a report stating that benchmark 10-year U.S. Treasury yields hit four-week highs after the recent employment numbers raised expectations that the Fed's rate hikes will not end with a hard economic landing, and that the U.S. central bank may have more than one more rate increase left.


They also offer some thoughts on Blackstone's plans to ramp up evictions to help its struggling real estate investment trust.


Join Chris and Saied for this fascinating and informative conversation.


Enjoy!


What You’ll Learn in this Show:

  • Why wages aren't keeping up with inflation, and what the next stage of the Fed's pivot might look like.
  • Why the world’s largest cryptocurrency exchange is temporarily suspending deposits and withdrawals of US dollars.
  • Why FTX debtors are calling on politicians, parties and PACs to return tens of millions in campaign contributions.
  • The definition of a depreciation amortization benefit.
  • And so much more...


Resources:

"US adds 517,000 jobs in January, far exceeding economists forecasts" (Bloomberg Business via Instagram)

"Jobs Report Tells Markets What Fed Chairman Powell Tried to Tell Them" (article from Barron's)

"A New Supercycle Is Starting, Says This Macro Strategist. How to Invest." (article from Barron's)

"Cathie Wood says AARK is "the new Nasdaq" (Bloomberg Business via Instagram)

"Binance to Suspend US Dollar Transfers Using Bank Accounts" (article from Bloomberg)

"TREASURIES-Yields hit four-week highs, Fed expected to hike above 5%" (article from Yahoo! Finance)

"Blackstone ramps up tenant evictions" (TheRealDeal via Instagram)

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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.