The Higher Standard

Dive into the financial deep end with Chris, Saied, and Haroon for episode 217 of The Higher Standard podcast where they slice through the week's money maze with sharp wit and wisdom. From the dizzying heights of household debt mountains—mortgages to credit cards—revealed by The Kobeissi Letter, to decoding the inflation crystal ball before the big CPI reveal of 2024, they've got you covered. Don't miss their take on TikTok's "get-rich-quick" gurus, where the math's as fuzzy as a two-dollar wig, and the Airbnb arbitrage scandal that's left investors with pockets emptier than a politician's promises. They are brining all the smoke and dropping names of some of the most cliché of “influencers.” It's all about keeping it real with laughs, insights, and advice that could just save your financial bacon. Tune in for a rollercoaster ride through the money matters that matter!

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Household debt, mortgages, auto loans, student loans, and credit card debt (The Kobeissi Letter via X)

The first big inflation report of 2024 is coming out. Here’s what the CPI is likely to show (Market Watch) 

TikTok Influencers Promise They’ll Make You Rich. The Math Doesn’t Add Up (Rolling Stone)

Investors in Airbnb arbitrage business allege they were defrauded in scheme promising ‘higher returns than the stock market’ (CNBC) 

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 exhilarating episode 216 of The Higher Standard Podcast, Chris, Saied, and Haroon dive into the the tumultuous tumble of regional bank stocks, led by New York Community Bancorp's dramatic diva moment — cutting dividends and flaunting losses like it's going out of style. But don't let NYCB's solo act fool you; while they're busy singing the blues and getting sued by shareholders for a throwback to their 1997 stock price, Moody’s isn't here for the nostalgia, slapping them with a junk rating faster than you can say "financial meltdown." Meanwhile, Powell plays it cool, promising rate cuts with the enthusiasm of a parent telling their kids they’ll think about getting a puppy.

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Regional Bank Stocks Fall After New York Community Bancorp Cuts Dividend, Posts Loss (The Wall Street Journal)

New York Community Bank’s Problems Look Mostly to Be Its Own (The Wall Street Journal)

New York Community Bancorp is sued by shareholders as stock sinks to 1997 level (Reuters)

Moody’s Cuts NYCB to Junk, Extending Sharp Decline in Shares (The Wall Street Journal)

Powell insists the Fed will move carefully on rate cuts, with probably fewer than the market expects(CNBC)

Credit card delinquencies surged in 2023, indicating ‘financial stress,’ New York Fed says (CNBC)

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.

With this weekly cadence, the boys have a jam packed episode of data and things to challenge your perspective about what's going on in the market. They hit CRE and office prices, the yield curve inversion, corporate debt defaults and even a theoretical Tech Bubble 2.0 discussion. Lots of charts, lots of fun and all The Higher Standard you can handle.

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Key events this week (Kobeissi Letter via X)

14% of all CRE loans and 44% of office buildings loans are now in negative equity (Kobeissi Letter via X)

The inventor of Wall Street's favorite recession indicator predicts a slowdown this year - and slams the Fed for making things worse (Business Insider)

Corporate debt defaults soared 80% in 2023 and could be high again this year, S&P says (CNBC)

'You are now living through Tech Bubble 2.0': A 32-year market vet warns stocks are doomed to suffer substantial losses with valuations at historic highs and the economy on the verge of recession (Business Insider)

The S&P 500 is back at a record level for the first time in 2 years (Mohamed A. El-Erian via X)

Fed’s favorite inflation gauge rose 0.2% in December and was up 2.9% from a year ago (CNBC)

Jeff Bezos shares his childhood working on a ranch (MoneyCelebs via YouTube)

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 Higher Standard is back, fresh off their new once a week cadence. It feels equally as weird for Chris, Saied and Haroon. Behind the scenes, our boy Hayden, is getting up to speed on all the editing work. The end goal is to bring you all better content, better shows and better guests. We start off episode 214 with a hard look at the housing market and where it could be going. Chris expresses concerns for the "repo" market and the pressure it may ultimately put on the Fed to cut rates earlier than expected. Then the boys dive in to a long segment on saving and investing your twenties, why that's so important and what you can do to build wealth right now!

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2023 was the worst year to buy a house since the 1990s. But there's hope for 2024 (NPR) 

December home sales slump to close out worst year since 1995 (CNBC) 

In the Market: Repo market may throw a fit, spur Fed to action (Reuters)

Here’s why it’s so important to start saving and investing in your 20s (CNBC) 

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.

This was a sad episode. Reluctantly, the boys have decided to try and change things up a bit by going from two shows a week down to one. Chris, Saied and Haroon are eliminating the Friday episode so that they can focus on improving the quality of content and growing the brand. They say the definition of insanity is doing the same thing over and over again and expecting a different result. I guess we are a little crazy. But not as crazy as the CEO who was the most accurate home-price forecaster in 2023. Chris has objections to that stance. The Fed's Raphael Bostic expects rate cuts to happen in the third quarter and Saied is convinced they are trying to scare the economy out of the optimism. And the Biden administration may have actually got something right for once. We are as shocked as you are.

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TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP  

Resources:

This CEO was the most accurate home-price forecaster in 2023. Here’s what he expects for 2024 (Fast Company)

The $8.8 Trillion Cash Pile That Has Stock-Market Bulls Salivating (Wall Street Journal)

Fed’s Raphael Bostic expects rate cuts to happen in the third quarter (CNBC) 

Macy’s to Cut About 2,350 Jobs, Close Five Stores (Wall Street Journal) 

Biden administration unveils proposed changes to big banks’ overdraft fees (CNBC) 

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 boys stepped in to the studio a little saucy from an earlier business meeting over steaks and adult beverages.  So much so that they forgot to do the introduction of the show.  After 20 minutes of a sobriety check, they hop in to a recession discussion pointing out that history is pretty clear that we have not in fact avoided a recession.  Although Chris disagreed with an article from The Wall Street Journal, he thought it was worthwhile to share for additional recession perspective.  Saied breaks down the massive 2023 economic loss as he take a victory lap for calling it a year in advance.  And, despite what you heard, Wall Street is not buying all the homes and driving up home prices.  Oh!  And Haroon sounds like Grover. 

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Recession avoided? History says otherwise (CNN)  

It Won’t Be a Recession—It Will Just Feel Like One (Wall Street Journal) 

Fed reports record loss for 2023 amid surge in interest expenses (Reuters) 

No, Wall Street investors haven’t bought 44% of homes this year (Housing Wire)

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, Saied and Haroon kick off the show with a slow and sexy leisurely introduction.  They know the road ahead is filled with some dark data and wanted you to be nice and warm for the cold, hard truth.  Then the roundhouse of data which signals that office space has hit an all time high vacancy number across the country.  A sign of the potential challenges that are on the horizon for the sector.  Then in a surprising turn of events, a Bitcoin ETF was actually approved by the SEC. The Higher Stand was stunned at this move after all the open criticism from high ranking government officials and long respected investors like Warren Buffett and Charlie Munger, not to mention Jamie Dimon is openly not a fan.  The new inflation report is in and after cooling most of 2023, it is back up incrementally.  Then the boys spend a good amount of time breaking down the newly announced $100 million dollar lawsuit filed by Grant Cardone against John Legere for defamation. 

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Resources:

Offices Around America Hit a New Vacancy Record (Wall Street Journal) 

Here’s what a bitcoin ETF actually means for investors (CNBC) 

Inflation Edged Up in December After Rapid Cooling Most of 2023 (Wall Street Journal) 

Finance guru Grant Cardone slaps telecom big John Legere with $100M defamation suit (New York Post) 

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.

This is an eclectic episode where the boys talk about boiling frogs and somehow relate it to the $34 trillion mountain of nation debt. Then they dive right in to how the pain in the real estate market is now beginning to have a heavy impact on Realtors with 45% of US real estate agents saying they're struggling to pay rent. If buying a home wasn't bad enough, home and auto insurance is becoming nothing short of impossible. It could be worse though, if you're the National Association of Realtors president who announced she is resigning after a "blackmail threat." Then to cap off the show, Chris, Saied and Haroon dive in to how the insanely high rent in most markets is impacting Gen Z.

Sponsored By Transcend Company:

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Resources:

The $34 trillion mountain of national debt is a 'boiling frog' situation for the US economy, JPMorgan warns (Business Insider)

‘Incredible distortions in our marketplace’: 45% of US real estate agents say they're struggling to pay rent — another bad omen for the housing market. But 2024 could be better (Money Wise)

Buying Home and Auto Insurance Is Becoming Impossible (Wall Street Journal) 

Rent is so expensive for Gen Zers that almost one-third are living with their parents, new report finds (Fortune)

National Association of Realtors president says she is resigning after blackmail threat (CNBC)

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.

Despite all the positive commentary regarding the increasing likelihood of a "soft landing," Chris, Saied and Haroon are not convinced that the economy is in a good place. Episode 209 kicks off with a look at the looming CPI report data and US national debt. Then they break down how the Fed has stopped talking about a recession for three consecutive meetings in a row now. The Higher Standard boys urge you not to make the same mistake that many made during the dot-com and housing bubbles because they believe The Great Correction is coming.

Sponsored By Transcend Company:

TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP

Resources:

What To Look For From The December 2023 CPI Report (Forbes)

US national debt hits record $34 trillion as Congress gears up for funding fight (Yahoo! Finance)

The Federal Reserve is done talking about recession (Business Insider)

A soft landing for US economy is 'increasingly conceivable' but not 'inevitable': Fed's Barkin (Yahoo! Finance)

Recession deniers are making the same mistake as during the dot-com and housing bubbles, top economist David Rosenberg says (Business Insider)

5 Best Money Resolutions for the Middle Class, According to Experts (Yahoo! Finance)

Fed Minutes Suggest Rate Hikes Are Over, but Offer No Timetable on Cuts (Wall Street Journal)

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.

Trying something new, Chris, Saied and Haroon wanted to play a little game of "Cash or Trash." In this game they asked for you, the listener, to ask any questions you wanted to or name a popular social media personality you wanted to hear their opinion on. The idea was not to disparage anyone, but provide a roadmap and some insight in to what we look at when trying to determine if someone on social media is what they are representing themselves to be. Since The Higher Standard has not done an episode like this before, we really want to hear your thoughts. Did you like it or was it "trash?"

Sponsored By Transcend Company:

TRANSCEND your goals! With a telehealth physician directed personalized treatment plan you can get a PERSONALIZED PLAN for Peptide Therapy, Hormone Replacement Therapy, Cognitive Function, Sleep & Fatigue, Athletic Performance and MORE. Their online process and medical experts make it simple to find out what’s right for you. Click the link and start today: http://www.transcendcompany.com/THSP

Resources:

2024 Global Investment Outlook (BlackRock)

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.