Episode 159

Published on:

18th Jul 2023

Inflation Breakdown and How to Interview for a Job

Goldman Sachs has embraced a new plan to avoid a third straight quarter of disappointing investors on earnings day. Breaking with its own long-standing convention, Goldman executives have been actively downplaying expectations for results that will be disclosed next week. The outcome: Analysts have slashed their estimates for quarterly profit by almost half since mid-June — the biggest revision before an earnings report under CEO David Solomon. That translates into one of the steepest profit drops among peers, and a return on equity that could slip below 5%.

In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole.

They discuss an analysis by Realtor.com indicating that rent in the 50 largest U.S. cities is now cheaper than it was a year ago, with significant decreases in southern cities that were real estate hotspots during the pandemic.  Median rent prices in these cities dropped by 0.5% in the last year.

Chris and Saied look at a report stating that former Celsius CEO Alex Mashinsky was arrested Thursday, as federal regulators announced his bankrupt crypto exchange Celsius would pay a $4.7 billion fine.

They also offer some thoughts on the consumer price index (CPI) which has increased 3% from a year ago, the lowest level since March 2021. On a monthly basis, the index, which measures a broad swath of prices for goods and services, rose 0.2%.

Join Chris and Saied for this fascinating and informative conversation.


What You’ll Learn in this Show:

  • Why one month of data is not enough for a 'wait and see' approach to the economy.
  • Why core inflation is a better metric, and why food and energy data is too volatile.
  • Goldman Sachs new tactic of downplaying its earnings.
  • And so much more...


"US Inflation Hits Two-Year Low, Giving Hope for End to Fed Hikes" (Bloomberg)

"Goldman breaks its own rule to flag results much worse than rivals" (Bloomberg Business via Instagram)

"These are the US cities where the rent has fallen the most since last year" (CNBC via Instagram)

"Former Celsius CEO arrested, company agrees to pay $4.7 billion settlement" (CNBC via Instagram)

"Inflation rose just 0.2% in June, less than expected as consumers get a break from price increases" (Chart of the Day via Instagram)

"Inflation Eased to 3% in June, Slowest Pace in More Than Two Years" (The Wall Street Journal)

"Inflation rose just 0.2% in June, less than expected as consumers get a break from price increases" (CNBC)

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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.

Follow Chris here as he posts daily: https://www.instagram.com/chrisnaghibi

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.