Episode 173

Published on:

5th Sep 2023

99 Problems, But Mitch Ain't One

It was bad enough that Michael Burry - the investor who profited from the subprime mortgage crisis by shorting the 2007 mortgage bond market - just took a $1.6 billion dollar short on the market again. Now, the man, the myth, the legend is that the great investor in world history - Warren Buffett - has just dumped $8 billion dollars of stock and is moving to a cash position. The boy think these are very telling signs of an impending recessionary economy by two men who know what they are doing. At the same time, a new report out states that 61% of Americans are living paycheck-to-paycheck and US department stores are seeing higher credit delinquencies amid strained spending. It's a wild episode that is capped by a special collaboration between Mitch McConnell and Jay-Z.


Warren Buffett just dumped $8 billion of stocks (here's why economists are worried) (The Street)

61% of Americans are living paycheck to paycheck — inflation is still squeezing budgets (CNBC)

US department stores see higher credit delinquencies amid strained spending (Reuters)

US labor market loses steam as job openings, resignations decline (Reuters)

U.S. job growth slowed sharply to 177,000 in August, below expectations, ADP says (CNBC)

US consumer spending in July surges; weekly jobless claims fall (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 host; Chris Naghibi is 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.

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About your host

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Christopher Naghibi

Christopher M. Naghibi is the Founder and Chief Executive Officer of Black Crown Inc. and Black Crown Law APC, a disruptive collective of attorneys, property managers, real estate agents and contractors who handle home sales and purchases, commercial and multifamily real estate brokerage, primarily for high net-worth and celebrity clients.

His team has over 20 years of experience, 1000+ satisfied clients, $10 million in recovered costs for clients, and in excess of $20 billion dollars in closed transactions.

As a licensed attorney, real estate broker, general contractor, and now Top 100 podcast host, Chris aims to provide free financial education that allows people to take control and democratize fear in the financial world.