Episode 63

Published on:

16th Aug 2022

Inflation Reduction Act, Consumer Credit and Alpha as Sh*t

The recently passed Inflation Reduction Act of 2022 has been designed to make a down payment on deficit reduction in order to fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by roughly 40 percent by 2030. The bill also allows Medicare to negotiate for prescription drug prices and extend the expanded Affordable Care Act program for three years, through 2025.

In today's episode of The Higher Standard, Chris offers up his thoughts on the Inflation Reduction Act - specifically, why he thinks it's a terrible idea. Chris and his co-host also discuss the sudden appearance of the Vice President to act as tie-breaker to get the bill passed, as well as the interesting timing of the entire process.

In this episode you'll discover:

- Why the Inflation Reduction Act is based on a flawed understanding of the actual causes of inflation (i.e. not consumers).

- The interesting relationship between inflation and unemployment figures.

- Why total household debt rose to a record 16.2 trillion last quarter as credit card spending posted the biggest yearly spike in more than 20 years.

This is a show you do not want to miss! Join Chris for this fascinating conversation.


What You’ll Learn in this Show:

  • Why Chris believes that a misunderstanding of the causes of inflation has led to the creation of the deeply flawed Inflation Reduction Act.
  • Why the relationship between inflation and unemployment figures is worthy of note (and study).
  • The rise of total household debt while credit card spending spikes higher than it has in 20 years.
  • And so much more...

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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.