The Higher Standard

In a jam packed episode 198, Chris, Saied and Haroon are very caffeinated and coming in hot.  You can just feel the palpable stench of the powerful combination of sarcasm and data.  Kicking off the show, the boys jump into US holiday retail sales.  They quickly pivot to how much the “typical American” has in a 401(k) account.  Then wham! Its all housing market updates all day for you the rest of the way.  Almost too much data for you to handle.  I guess that’s why we are the #1 financial literacy podcast in the world isn’t it? Let’s go!  

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Resources:

Growth in US holiday retail sales (CNBC Chart Of The Day via Instagram)

Here's how much — or little — the typical American has in a 401(k) (CBS News)

Stocks, houses, and commercial real estate are all expensive – and prices are under 'notable' pressure, Fed economists say (Business Insider)

40% of all US homes currently don't have mortgages (The Kobeissi Letter via X)

Existing Home sales drop again in October (Yahoo! Finance via Instagram)

Home prices are falling fastest in these 25 cities, helping buyers escape the least affordable housing market since 1985 (Business Insider)

‘To buy or not to buy, that is the question’: BofA reveals rent is cheaper than mortgages in all but two of 97 major metros (Fortune)

OpenAI brings Sam Altman back as CEO less than a week after he was fired by board (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.

Yea though I walk through the valley of the shadow of the recession, I shall fear no Gary Shilling. Gary has been a permanent bear in the markets, but he did call and make a lot of money of The Great Recession. Now he is saying you can expect stocks may crash 30%, a recession looks imminent, and commercial real estate is a bubble about to burst. We give you 8 of his best quotes from a new interview. Chris, Saied and Haroon once again break down the impossible mess of the housing market. And, then place all tray tables and seat backs in their locked and upright positions because the boys are going all in on OpenAI's massive CEO debacle.

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Resources:

Stocks may crash 30%, a recession looks imminent, and commercial real estate is a bubble about to burst, market prophet says. Here are Gary Shilling's 8 best quotes from a new interview (Business Insider)

The US Housing Market Has Become an Impossible Mess (Bloomberg)  

OpenAI Investors Try to Get Sam Altman Back as CEO After Sudden Firing (Wall Street Journal)

OpenAI’s Unusual Corporate Structure Gave the Board Complete Control (Chartr Daily 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.

October is in and it appears to have moderated, cooling measurably more than anticipated. Consumer prices rose 3.2 percent in the year through October, decelerating from the previous month and showing encouraging signs under the surface, but is it enough to keep Jerome Powell and The Fed data dependent and focused on the potential for future rate cuts? Saied, Chris and Haroon breakdown what they think "higher for longer" may mean and what you should actually expect. Walmart CEO says "deflation could be coming this holiday season" and the boys take the opportunity to remind you that they feel we are already in an earnings recession. Lastly, what would an episode of The Higher Standard be without a healthy degree of trash talk? Did you know that almost no one else in the world pays a 6% real estate commission outside of Americans? Join the boys as they dive in to how the rest of the world buys and sells homes. Oh! And, full disclosure, everyone had a cocktail or two this episode.

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:

October Inflation Report (New York Times) 

Wholesale prices fell 0.5% in October for biggest monthly drop since April 2020 (CNBC) 

Deflation could be coming this holiday season, Walmart CEO says (CNBC) 

Almost No One Pays a 6% Real-Estate Commission—Except Americans (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.

Welcome back to the number one financial literacy podcast in the world! It's The Higher Standard podcast. This episode Chris, Saied and Haroon continue to breakdown why they think we are likely already in a recession and the overwhelming likelihood that a "soft landing" was never actually possible. Owning a home has gotten way too unaffordable and despite the rhetoric from too many real estate economists, the boys think we have a long adjustment period in front of us. Lastly, there appears to be some mounting evidence that Airbnbs being banned actually helps rental rates go down in cities with new restrictions. All facts, no cap.

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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:

Recession: The Stars Continue To Align (Forbes) 

Owning a Home Has Gotten Pricey, Fast. A Market Adjustment Is Coming (Barrons)

The best evidence yet that banning Airbnbs will make rent go down (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.

From the dark depths of anonymous justice, The Higher Standard podcast brings you the one and only BallerBusters. This is their first in-person interview ever and it kicks off a series of discussions where we build on and leverage their mission of truth and education. Their voices have been disguised to protect their identities, but they hold nothing back during this introductory episode. Coming soon will be more targeted discussions on topics and individuals from their world famous Instagram page, answering your most asked questions and special guest interviews. One thing is for sure, the BallerBusters are not what or who you think they are and the way you think about them is about to change forever. Welcome to BallerBusters Chapter 1: The Introduction.

BallerBusters Links:

Instagram

Twitter/X

TikTok

Threads

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.

BallerBusters Disclaimer: Please be advised that the views, thoughts, and opinions expressed by our collaborators, specifically the anonymous group known as “BallerBusters,” are solely their own and do not represent the views, positions, strategies, or opinions of “The Higher Standard,” its hosts, or any associated parties. The identities of the members of “BallerBusters” are unknown to us, and we are not affiliated with their organization beyond the scope of this collaboration. As such, we do not endorse, support, or validate any statements, claims, or opinions made by “BallerBusters.” Our collaboration with “BallerBusters” is for the purpose of providing diverse perspectives and insights. It is not an endorsement of their methods, actions, or the content of their statements. We expressly disclaim any and all liability in connection with the content provided by “BallerBusters,” including but not limited to any claims of defamation, libel, slander, infringement, or any other claims arising from their statements or actions. Listeners are encouraged to critically evaluate the content and form their own judgments. The information provided in our podcast is for general informational and entertainment purposes only and should not be considered as professional advice. We are dedicated to respecting free speech and fostering open discussions, but it is important for our audience to recognize that the information provided by our guests and collaborators may not reflect our own views or values.

This show, like Saied's jumper 15 years ago is "moist." The boys start off acknowledging there is a noticeable hum in Haroon's microphone. We apologize for the technical glitch. Jerome Powell finally proves he is about that life. Sadly, Chris, Saied and Haroon are horrified at one of their favorite economists selling out in the most hypocritical way possible. And, if that wasn't bad enough, Planet Fitness is raising prices so that you can get your Tootsie Roll and pizza treatments. This economy is out of control! Someone ring the "lunk" alarm things are getting out of control.

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:

Federal Reserve ‘Won’t Hesitate’ To Raise Rates Again If Necessary, Powell Says (Forbes)

Jerome Powell says to “Close the fucking door.” when climate protests interrupted his speech today (Wall Street Bets via Instagram)

Right Now Is a Bad Time to Spend Money (Wall Street Journal)

Crypto Critic Nouriel Roubini is Launching a Token (Yahoo! Finance)

Never Mind the 1%. Mini-Millionaires Are Where Wealth Is Growing Fastest (Wall Street Journal)

CHART OF THE DAY: Inflation will hit the Fed's 2% target by April and keep falling, analyst says (Business Insider)

Beloved fitness brand may have very bad news for customers (The Street)

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.

Let's not mince words here, we got three spectacular reviews and they were the highlight of our night. Thank you to the listeners who made this episode extra special. The episode of The Higher Standard podcast is a ton of fun at every stop. The boys briefly touch on mortgage demand dropping to approximately 50% of pre-pandemic levels, a sharp slowdown in hiring and where to put your money while all this is going on. Saied couldn't resist diving head first in to Sam Bankman-Fried's most recent conviction on all seven federal charges against him and both Chris and Haroon show no sympathy. Make sure to stay tuned all the way to the end when the guys are simply at a loss for words.

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:

Mortgage demand is now down 50% from pre-pandemic levels (The Kobeissi Letter via X)

Sharp U.S. Hiring Slowdown Signals Cooling Economy Ahead (Wall Street Journal) 

If Interest Rates Are Peaking, What Investments Are Likely to Do Best? (Wall Street Journal)

Sam Bankman-Fried Is Convicted of Fraud in FTX Collapse (Wall Street Journal)  

Sam Bankman-Fried found guilty on all seven criminal fraud counts (CNBC)

Desperately Faking Riches: Inside A Hong Kong Businessman’s Outlandish Efforts To Get On The Forbes Billionaire List (Forbes)

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 called it, The Fed has left rates unchanged. Granted, it wasn't that hard of a call as all the data seemed to suggest that was the overwhelming likely result. Yet, somehow Jamie Dimon came out sounding hawkish after Jerome Powell came out dovish. Adjustable-rate mortgage demand jumps nearly 10% and Wells Fargo is now warning of a 1980s style recession. Confused, don't be. Saied, Chris and Haroon are here to break it all down and make sense out of all this chaos. All facts, no cap. Bars.

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:

The Federal Reserve leaves rates unchanged. Here’s what that means for your wallet (CNBC)

JPMorgan CEO Jamie Dimon suspects Fed 'may not be done' raising rates amid 'stickier' inflation (Yahoo! Finance)

Adjustable-rate mortgage demand jumps nearly 10% as buyers struggle to afford housing market (CNBC)

M&A to explode in 2024 as roughly 1,200 companies are expected to run out of money (Yahoo! Finance)

Housing Market Crash: Wells Fargo Warns of 1980s Recession (Investor Place)

Private sector payrolls rose 113,000 in October, less than expected, ADP 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.

Chris, Saied and Haroon unpack the outstanding mortgage market by rate before hopping in to an example of how tenuous the business has become for lenders and their employees. Then they dive in to some chart work with sexy visual stimulus regarding the current state of the consumer credit market. To round off the show ahead of jumping in to Saied's self-inflated basketball ego, they boys take a look at Americans' net worth at every age.

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:

Outstanding mortgages by their mortgage rates (Kobeissi Letter via X)

The Mortgage Market Is So Bad Lenders Want Ex-Employees to Give Back Their Bonuses (Wall Street Journal) 

Credit card balances in the U.S. have crested at $1 trillion (CNBC Chart of the Day via Instagram)

Here’s Americans’ net worth at every age—for people under 35, it’s up 142% (CNBC)

Fed's preferred inflation gauge shows biggest monthly jump since May (Yahoo! Finance)

M&A to explode in 2024 as roughly 1,200 companies are expected to run out of money (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.

U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected, but Chris, Saied and Haroon aren't convinced this is a good thing. They look back at previous recessions and some of the GDP trending before and after declaration to try and determine if the newest GDP print really has any meaning. Mohammaed El-Erian seems to share many of the same fears regarding the impact of rates on the economy and is apparently equally as skeptical of the GDP print. Jamie Dimon then rips central banks a new one for being 100% dead wrong on economic forecasts. Then this dark episode takes a darker turn as The Fed's Raphael Bostic doesn't foresee a rate cut coming until "late 2024." And, for those of you who missed Haroon's desk pop of a Monster Energy mid-show, don't worry, he comes back strong in episode 189 of The Higher Standard.

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:

U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected (CNBC)

Strong GDP growth isn't a sign the US has escaped a recession, and interest rates are a big headwind to economic activity, top economist Mohamed El-Erian says (Business Insider)

Jamie Dimon rips central banks for being ‘100% dead wrong’ on economic forecasts (CNBC)

Fed’s Raphael Bostic doesn’t foresee rate cuts coming until ‘late 2024’ (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.