Episode 202

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Published on:

15th Dec 2023

No One Knows What Happens Next & The Two Comma Club

After a brief hiatus, the boys are back and ready for the December 12-13 FOMC meeting results. They already know it's going to be a "pause," but Chris, Saied and Haroon predict what they think will be the rhetoric coming out of the meeting. More likely than not is a rally based on pure market optimism. The boys pivot to a thorough breakdown of the wealth stratification in America today because we have reached an alarming milestone. The top 1% of American earners now own more wealth than the entire middle class. Lastly, they round out the show with a discussion regarding the housing market and what lower rates could do to the economy while Larry Summers issues a sharp warning for the real estate entrepreneur bros.

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Resources:

A 'severe recession' may be coming in 2024 as the stock market, job market flash warning signs, strategist says(Business Insider) 

The top 1% of American earners now own more wealth than the entire middle class (USA Today) 

Homebuyer conundrum: If mortgage rates fall, bidding wars will follow, expert says (Yahoo! Finance) 

Home prices will fall for the first time since 2012, Redfin’s chief economist predicts. Here’s why they will still be ‘out of reach’ for many buyers (Fortune)  

Here's Where Mortgage Rates and Home Prices Are Heading, According to Zillow and Redfin (Money) 

Bank of America CEO Brian Moynihan says YOLO spenders aren’t wrung out just yet: They’re ‘in pretty decent shape’ (Fortune)  

The Fed will spark a 'seismic moment' if it cuts rates, and should wait for overwhelming evidence the economy is slowing, Larry Summers says (Business Insider) 

How many times will the Fed cut rates? Here's what Wall Street expects for the key stock-market driver in 2024 (Business Insider) 

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.

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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.