Episode 104

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Published on:

6th Jan 2023

The Big Short 2.0, Fake Followers Can Get You Arrested & Housing Is Changing

Ten years. That's how long we can expect to see sluggish growth in the global economy, at least according to Daniel Lacalle, author and chief economist at Tressis Gestion. Events such as Russia’s invasion of Ukraine and China’s persistent zero-Covid measures have sent shockwaves through economies around the world, sending inflation soaring and weakening activity. The IMF now projects that global GDP growth will slow from 6% in 2021 to 3.2% in 2022 and 2.7% in 2023. The Fund called it “the weakest growth profile since 2001 except for the global financial crisis and the acute phase of the Covid-19 pandemic.”

In this episode of The Higher Standard, Chris and Saied examine Lacalle's comments and the projections of the IMF to try and determine the effect they will have on the economy.


They discuss comments from Scion Asset Management founder and The Big Short investor Michael Burry, who has stated that while inflation has peaked, it is likely to pick up again in response to government stimulus. ⁣


Chris and Saied look at the prevalence of fake followers on social media, particularly Instagram, and the effect that can have on a business.


They also offer some thoughts on the CATO Institute's 2022 Housing Affordability National Survey, which indicates that around 55% of Americans say they cannot afford to buy their home in today's market, resulting in the second biggest home price correction of the post-WWII era.


Join Chris and Saied for this fascinating and informative conversation.


Enjoy!


What You’ll Learn in this Show:

  • Why home prices have gone up 46% in the period of two years in some markets.
  • The differences between business loans and single-family residence loans.
  • Why rental rates are on the downward trend in most states.
  • Why luxury home sales have been experiencing the biggest decline on record.
  • And so much more...


Resources:

"The Washington State AG has sued a plastic surgery provider for manipulating customer reviews and buying fake Instagram followers." (Robert Freund via Twitter)

"The US is in a recession 'by any definition,' 'The Big Short' investor Michael Burry says." (Bloomberg Business via Instagram)

"US suffering from the second biggest home price correction of the post-WWII era" (article from Fox Business)

"Nevada rent prices see greatest decline nationwide, report shows" (article from the Washington Examiner)

"Global economy is heading into a decade of low growth, economist says" (article from CNBC)

"Deep freeze: Luxury home sales suffer biggest hit on record" (The Real Deal via Instagram)

"Luxury-Home Sales Sink 38%, the Biggest Decline on Record" (article from Redfin)

"Here's how much housing affordability tanked this year" (article from Yahoo! Finance)

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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.