Episode 68

full
Published on:

2nd Sep 2022

Let's Just Throw Away Some More Money and Student Loan Stimmies

If you've been watching the news, you're no doubt aware of President Biden's "forgiveness plan." This involves erasing $10,000 US in federal student loan debt for those with incomes below $125,000 a year, or households that earn less than $250,000. It also cancels an additional $10,000 for those who received federal Pell Grants to attend college.

To say this move has been divisive is something of an understatement, and of course, in today's episode of The Higher Standard, Chris and Saied share their thoughts on this new program. (Spoiler: They're not fans.)


They discuss why Chris thinks the new program is both unconstitutional, and just another stimulus package - essentially the government is printing more money, which is a problem when the Fed is battling inflation already.


Chris outlines the legality (or lack thereof) of the program, and why he believes the income cap is the wrong way to proceed.


They also talk about Federal Reserve Chair Jerome Powell's upcoming press conference, where it's believed he will take a much more firm or 'hawkish' approach and possibly invoke the 'Volcker Rule' - a federal regulation that prohibits banks from conducting certain investment activities with their own accounts and limits their dealings with hedge funds and private equity funds, also called covered funds.


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


Enjoy!



What You’ll Learn in this Show:

  • Why the new forgiveness program is both unconstitutional, and just another form of inflationary stimulus.
  • The legality (or lack thereof) of the program, and why the income cap is the wrong way to proceed.
  • Federal Reserve Chair Jerome Powell's upcoming press conference, where it's believed he will invoke the 'Volcker Rule.'
  • 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.