The Higher Standard

In this episode, hosts Chris, Saied, and Haroon tackle the behemoth that is U.S. government spending. With deficits skyrocketing 287% year-over-year and the national debt now exceeding $33 trillion, the hosts break down how this level of fiscal mismanagement impacts everything from mortgage rates to Social Security. They also delve into Elon Musk and Vivek Ramaswamy's bold new roles in the Department of Government Efficiency, dissecting what their proposed agency cuts mean for the average American. Spoiler: The Department of Education and IRS might be on the chopping block.

➡️ As always, the conversation is packed with sharp humor and insightful analysis. Whether you're intrigued by the $250 billion deficit balloon in just one month, or curious about how Treasury bond issuance influences your car loan, this episode has you covered. By the end, you'll have a deeper understanding of why "balancing the budget" isn't just a catchy slogan—it's a necessity. Plus, a sprinkle of conspiracy theories and Musk's Dogecoin-inspired department name makes this one a must-listen.

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🔗 Resources:

Deficit spending surges to $250 billion in one month (The Kobeissi Letter via X)

What Elon Musk and Vivek Ramaswamy could abolish in the name of government efficiency (Yahoo! Finance)

Elon Musk and Vivek Ramaswamy appointed to lead Trump’s “Department of Government Efficiency” (CNN)

Federal deficit reaches alarming new heights (Yahoo! Finance via Instagram)

How government spending affects you (Yahoo! Finance via Instagram)

Americans fall further behind on debts as household debt reaches all-time high (Yahoo! Finance)

⚠️ 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.

The average age of U.S. homebuyers has soared to 56, proving that owning a home now requires both age and a level of patience previously reserved for waiting in line at the DMV. Saied, Chris, and Haroon hilariously dissect this trend, blaming skyrocketing home prices, nosebleed mortgage rates, and a painfully thin housing inventory for forcing younger buyers to stay on the sidelines—or back in their parents’ basements.

➡️ With a cocktail of sharp humor and real talk, the hosts unpack how these shifts impact everything from family planning to the American Dream itself (spoiler: it’s expensive). They also debate whether "strategic investing" is just code for "hope and prayer" in this market. Tune in as they turn these bleak economic trends into laughs while giving you the lowdown on navigating the financial jungle without losing your sanity—or your sense of humor.

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🔗 Resources:

Job growth slowed sharply last month (Wall Street Journal)

Even Some High-Income Americans Can't Afford New Cars Anymore (Bloomberg)

Homebuyer average age rises to 56 amid rising homeownership costs (CNBC)

Mortgage apps to buy a house are down 45% from pre-pandemic levels (Nick Gerli via X)

Warren Buffett is now building his cash balance at an unprecedented rate (The Kobeissi Letter via X)

28% of shoppers who used credit cards have not paid off the presents they purchased for family and friends last year(CNBC via Instagram)

⚠️ 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.

As the U.S. approaches Election Day on November 5th, the trio dives deep into the intersection of politics and economics, exploring how election outcomes could impact the market and your wallet. With rising anxiety reflected in the VIX index, your hosts discuss the historical volatility seen during previous elections, particularly in 2008 and 2020, and how this year’s political climate feels different yet uncertain. They dissect the implications of potential policy shifts and the Fed's monetary strategies, all while keeping the conversation light and humorous.

➡️ Anecdotes and witty banter interlace the serious discussions, making complex financial concepts more relatable. Join Saied, Chris, and Haroon as they navigate these critical topics with their signature blend of insight and levity, ensuring you’re informed and entertained as you head to the polls.

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🔗 Resources:

Election 2024: Inflation Outlook (Morgan Stanley)

October 2024 Beige Book Insights (Federal Reserve)

Episode 253 | Markets vs. The Fed: Who’s Right About Inflation 📈 & Employment? 📊 (The Higher Standard via YouTube)

A Look at Historical Market Patterns in Election Years (CME Group)

U.S. economy grew at 2.8% pace last quarter, powered by consumer spending (CBS News)

⚠️ 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.

In this episode of The Higher Standard, Chris and Saied take the stage as a dynamic duo, flying solo without their third musketeer, Haroon, who’s off on PTO (probably in a pickleball tournament or hiding from the Fed). With no one to keep them in check, the two dive headfirst into a whirlwind of financial insights, market predictions, and why the MAG 7 tech giants are carrying the S&P 500 on their backs like Atlas — except Tesla, whose latest earnings had investors buzzing despite mixed results. It’s a "two wise men" operation this week, and things get as real as inflation at a gas pump on payday.

➡️ Chris and Saied break down the love-hate relationship between the markets and the Fed — one’s bullish, the other’s just a buzzkill. They riff on whether inflation is here to stay, question if we’re headed for stagflation, and poke fun at economists trying to predict a recession like it’s the weather. Along the way, they tackle rising insurance premiums, paycheck-to-paycheck living, and the surreal cost of burritos ($46 for breakfast?!). With humor, hard-hitting insights, and a few Monopoly references thrown in for good measure, this episode is a wild ride through the tangled mess of today’s economy.

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🔗 Resources:

Financial insecurity and cost of living (Business Insider)

Tweet on inflation and financial markets (Kobeissi Letter via X)

Tweet on housing affordability crisis (Kobeissi Letter via X)

Tweet on MAG 7 stocks and market concentration (Kobeissi Letter via X)

Tesla's Q3 Earnings Report (Yahoo Finance)

Existing Home Sales Fall To 14 Year Low (Yahoo Finance via Instagram)

Here’s when prices might ease, per Fed’s Daly (MarketWatch)

⚠️ 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.

Consumers might have to wait two to three years for their perceptions of inflation to normalize, as highlighted by Fed’s Daly, leaving many still wincing at higher prices. Meanwhile, falling home prices are causing significant distress, particularly in ten states where mortgage balances now exceed property values.

➡️ Episode 252 of The Higher Standard podcast dives into the alarming drop in US mortgage applications, which saw a 17% decrease—the largest since April 2020—along with potential benefits for homeowners in certain cities as interest rates tumble. The discussion also covers the anxiety surrounding credit card debt among Americans and JPMorgan’s new strategy to attract affluent clients with enticing branch experiences. Wrapping up, Chris, Saied and Haroon tackle why so many companies are firing Gen-Z employees, emphasizing a disconnect between workplace expectations and work ethic in today’s job market.

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Here’s when consumers might finally stop wincing at higher prices, according to Fed’s Daly (MarketWatch)

Falling home prices are hitting homeowners in these 10 states the hardest — with up to 10% of mortgage balancesnow topping their property values (Business Insider)

JUST IN: US mortgage applications have dropped by 17.0% over the last week, the most since April 2020 (X / The Kobeissi Letter)

22 cities where homebuyers and owners will benefit most as interest rates tumble (Apple News)

The Most Splendid Housing Bubbles in America: Sept Update: Prices Drop in 26 of 28 Big Metros, even San Diego, Los Angeles (Wolf Street)

Americans are really anxious about their credit card debt (The Street)

'Signature bites' and free umbrellas: Inside JPMorgan’s plan to lure more rich people to its branches (Yahoo Finance)

Why So Many Companies Are Firing Gen-Z Employees (Inc.)

⚠️ 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.

The hosts take a hilarious trip down memory lane, reminiscing about the good old days of AIM (AOL Instant Messenger). They crack up over their embarrassingly bad usernames—ones that should probably never see the light of day again. You know that cringe-worthy online persona you thought was behind you? Turns out, it never really leaves! They dive into how their AIM alter-egos might still be haunting their present-day selves, proving once again that the internet never forgets. It’s a delightful mix of awkward nostalgia and a gentle reminder of how those early days of the internet shaped us all.

➡️ But it’s not all goofy usernames and AIM nostalgia. The conversation gets deeper (but still funny!) when they tackle how social media has made us all professional curators of our own lives. The hosts poke fun at the gap between the online versions of ourselves and the real deal, dropping truth bombs about authenticity and how everyone’s just trying to “fit in” online. And just when you think things couldn’t get more entertaining, they throw in some absurd ideas about modern marketing, suggesting brands take on the wild task of marketing to the homeless. It’s a genius blend of sharp social commentary and laugh-out-loud moments that’ll keep you thinking—and chuckling—long after the episode’s over.

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Rate cuts were supposed to push mortgage rates lower. The opposite has happened. (AOL)

US credit card interest rates hit 23.4% in August, a new record. (The Kobeissi Letter via X)

⚠️ 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.

The 250th episode of The Higher Standard podcast marks a significant milestone packed with our unique style of humor and engaging discussions on financial literacy. Hosts Chris, Saied, and Haroon navigate the complexities of budgeting and personal finance with an entertaining twist. They delve into the nitty-gritty of establishing a payday routine, breaking it down into digestible segments for their audience. The conversation emphasizes the importance of a 60/30/10 budgeting rule, where 60% of income is allocated to essentials, 30% to savings, and 10% to discretionary spending.

➡️ Chris and Saied share their personal experiences, illustrating how small daily habits, like enjoying a morning coffee, can contribute to overall financial well-being. The episode captures the essence of making finance relatable and fun while equipping listeners with actionable strategies to improve their monetary management. Additionally, the episode features a lively segment discussing the ramifications of the recent port strike, highlighting its potential impact on the economy and consumer prices. With witty banter and insightful commentary, your favorite anti-economist hosts create a lighthearted atmosphere, making financial literacy feel accessible and engaging for everyone.

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🔗 Resources:

Harold Dagger President of the International Longshoremen’s Association (Plant Based Omnivore via Instagram)

Over 50,000 port workers across the United States are now on strike for the first time since 1977. (The Kobeissi Letter via X)

Sean ‘Diddy’ Combs hires his jail mate Sam Bankman-Fried’s lawyer (Fortune)

⚠️ 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.

Chris takes the helm for episode 249 of The Higher Standard podcast, delivering an insightful solo deep dive into the economic landscape. The episode kicks off by addressing the Federal Reserve's unexpected 50 basis point rate cut and its implications for the U.S. economy, drawing parallels to previous cuts in 2001 and 2007 that preceded recessions.

➡️ With a focus on the housing market, Chris unpacks the complexities of mortgage rates, home prices, and why current market conditions make rental property investments less profitable. He also delves into the intricacies of bond market reactions, providing listeners with a comprehensive understanding of the current financial climate and what it may mean for the future.

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🔗 Resources:

US consumers believe the economy is in a recession (The Kobeissi Letter)

The US consumer confidence index declined (The Kobeissi Letter)

Fed Governor Bowman explains dissent on rate vote, says she’s worried about inflation (CNBC)

JPMorgan CEO Jamie Dimon says he remains skeptical (Bloomberg Economics via X)

U.S. Home prices are up…. A lot. (Lance Lambert)

The median US mortgage payment fell 2.7% YOY (The Kobeissi Letter)

If you could magically conjure up 1.5 million housing units (Lance Lambert)

Buying a rental property in America is no longer profitable (Nick Gerli)

⚠️ 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.

Episode 248 of The Higher Standard is here and Saied, Chris and Haroon break down the key takeaways from the Fed's decision to cut a full 50bps for its first rate cut of the cycle. The last two times this happened historically was in 2001 and 2007. After each of those was a notable recessionary economy.

➡️ Real estate agents are also dropping like flies already, falling to the lowest number of reported employed agents since 2014. Almost as shocking is that the 23andMe CEO Anne Wojicicki has lost her entire board of directors in a single day. Lastly, as tragic as the Diddy situation may be, you know they guys had to unpack it and cover some of the absolutely stunning and strange revelations.

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Key takeaways from the Fed’s decision to deliver a jumbo-sized interest rate cut (CNN)

Last 2 times the Fed’s first cut was 50+ bps (Geiger Capital via X)

BREAKING: The number of full-time real estate agents and brokers in the US dropped to 440,000 in 2023, the least since 2014 (Kobeissi Letter via X)

23andMe CEO Anne Wojcicki ‘surprised and disappointed’ by board resignations: Read the memo (CNBC)

Sean ‘Diddy’ Combs to remain in custody after judge denies bail appeal in racketeering conspiracy and sex trafficking case (CNN)

⚠️ 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.

In episode 247 of The Higher Standard, Saied, Chris and Haroon dive deep into a lighthearted discussion about the unexpected appearance of cockroaches in their studio. As they transition into the financial content, the team tackles a listener question on how to find the best real estate agent. And of course they had to cover the guaranteed rate cut happening this week when the FOMC announces their decision on Wednesday, September 18th.

➡️ The second half of the episode shifts gears with a robust debate about LeBron James and his impact on the economy, comparing his legacy to other sports icons like Tom Brady. They also touch on pop culture, covering everything from the Bad Boys movie franchise to Jackie Chan’s unique quirks.

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🔗 Resources:

Inflation falls to 2.5% year-over-year lowest since Feb. 2021 (Yahoo! Finance via Instagram)

Where inflation is…. And isn’t (Yahoo! Finance via Instagram)

Housing costs keeping inflation over 2% (Yahoo! Finance via Instagram)

Fresh jobs data tests how deeply Fed will cut rates ahead of government payroll report (Yahoo! Finance)

⚠️ 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.