Episode 187

Published on:

24th Oct 2023

Recession Red Flags, Home Sales Slow & Treasuries Pop

Your favorite bank CEO, Brian Moynihan is back at it again with a full on contradiction from just a year ago. Chris, Saied and Haroon waste no time calling him to the carpet. Not to be outdone, Peter Schiff pointed out that Bank of America has unrealized losses of approximately $47.8 billion dollars. The boys get in to home sales data which indicate that 2023 may be the slowest year since The Great Recession. Not helping things is the 10-year treasury which just moved above 5.00% for the first time since 2007. All the recession red flags are waving and The Higher Standard podcast is here to give you the raw, unfiltered truth.

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Big banks are quietly cutting thousands of employees, and more layoffs are coming (CNBC)

Bank of America warned consumers they would be pushed to the ‘point of pain’—and CEO Brian Moynihan says we’ve now reached that point (Fortune)

BoA lost $47.8 Billion (Peter Schiff via Instagram)

Home Sales on Track for Slowest Year Since Housing Bust (Wall Street Journal)

10-year Treasury yield breaks above 4.9% for the first time since 2007 (CNBC)

Morgan Stanley shares fall over 6% as wealth management results disappoint (CNBC)

Oil jumps as Iran increases rhetoric against Israel, US stockpiles drop (Yahoo! Finance)

Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content.

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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.