Episode 80

Published on:

14th Oct 2022

Jamie Dimon Says a Recession is Looming, Logan Paul Takes an L and Q&A

On Monday, at JPMorgan Chase's Techstars conference in London, CEO Jamie Dimon said that a “very, very serious” mix of headwinds was likely to tip both the U.S. and global economy into recession by the middle of next year. Dimon said the U.S. economy was “actually still doing well” at present and consumers were likely to be in better shape compared with the 2008 global financial crisis. “But you can’t talk about the economy without talking about stuff in the future — and this is serious stuff.”

In today's episode of The Higher Standard, Chris and Saied take a closer look at this "serious stuff," as well as Dimon's warning that we could be looking at a recession in 6 to 9 months.

They discuss the recent Producer Price Index (PPI) report, including what exactly it is and how it acts as a kind of tertiary metric that provides insight into how inflation is likely to be reported.

Chris and Saied look at an open letter written by Cathie Wood, founder, CEO and CIO of Ark Invest in which she says that the Federal Reserve has been making a big mistake by over-hiking rates and using lagging indicators to make their decisions.

They discuss a recent article claiming that an NFT that YouTuber and social media personality Logan Paul purchased for $600,000 is now worth... $10.

Chris and Saied also explore the dichotomy between mortgage rates and homebuyer hesitation. The interest rate on the most popular home loan in America has fallen for the first time in seven weeks. Yet even with the decline, the average 30-year fixed mortgage rate is still more than double what it was last year.

Join Chris and Saied for this fascinating conversation.


What You’ll Learn in this Show:

  • What exactly the PPI report is and how it acts as a kind of tertiary metric that provides insight into how inflation will be reported.
  • Cathie Wood's open letter to the Fed criticizing ‘mistakes’ it has made with excessive rate increases and the reliance on lagging indicators.
  • Logan Paul's $600,000 NFT investment, whose value has taken a nosedive to the tune of roughly $599,990.
  • The reasons why mortgage rates are down for the first time in nearly two months, but hesitation remains high.
  • And so much more...


"The 15 Largest Banks in America" (article from Bankrate)

"Mortgage rates step back from the brink, but hesitation is still at a 25-year high" (article from MoneyWise)

"The NFT Logan Paul purchased for over 600K is now worth $10" (Jungleboys via Instagram)

"What Is Logan Paul’s $623,000 Azuki NFT Worth Today?" (article from BeInCrypto)

"Cathie Wood Warns Fed of Policy Error as Rate Hikes Hit ARK ETFs" (article from Bloomberg)

"‘This is serious’: JPMorgan’s Jamie Dimon warns U.S. likely to tip into recession in 6 to 9 months" (article from 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.