Capital Record
National Review
American prosperity was built on a foundation of free markets and free people. But, with inflation on the rise and a struggling market, many in America’s political class are attempting to recycle failed socialist ideas and calling for government intervention in nearly every aspect of American life. In this National Review Capital Matters podcast, presented by the National Review Institute, financier David Bahnsen hosts interviews with the nation’s top business leaders, entrepreneurs, and financial commentators. Tune in to hear guests such as Larry Kudlow, Steve Forbes, and Art Laffer present a practical and moral vindication of America’s capitalist way of life.
Episodes
Mentioned books
Aug 21, 2025 • 20min
Episode 251: If You Can’t Beat ’Em Join ’Em??
David takes on the state-capitalism idea that the right has been rightly critical of in China for many years (market forces that are highly directed by the state), but takes this cogent criticism to the idea of Nvidia revenue shares, Intel equity ownership, CEO selection, and other mystifying things that if a leftist president were doing the right would be losing their ever-loving minds over.
Aug 19, 2025 • 14min
Episode 250: Howard Stern and the Unfree and Unvirtuous Society
It appears from media reports that SiriusXM is done with their long-term, nine-figure (annual) relationship with Howard Stern, the former FM radio shock jock turned woke, politically correct bore. On today’s Capital Record, David walks through how the two Howard Sterns were both perfect encapsulations of the undermining of a free and virtuous society, only each Howard Stern did this in a totally different way. This is an unconventional Capital Record with a perspective you’re unlikely to hear anywhere else.
Aug 14, 2025 • 17min
Episode 249: Right Problem, Wrong Solution
On today’s Capital Record, David looks at the issue of housing affordability and walks through Rahm Emanuel’s new op-ed in the Washington Post whereby a confused explanation of the financial crisis is given, and even more confused solutions are offered to a problem Rahm mostly identifies correctly. Few subjects in the American economy touch more people than housing, and if housing has become unaffordable for too many, the one thing we really cannot afford is to get this subject wrong.Show notes:What’s Really Depressing America’s Young Men
Aug 12, 2025 • 17min
Episode 248: Murder in the Building
David looks at the unspeakable recent murder of the Blackstone Real Estate CEO and those who have celebrated the murder. Highlighting their despicable lack of moral clarity is the easy part. But unpacking the inexplicable economic ignorance embedded in their murderous hatred is perhaps an equally important subject. Fortunately, most people do not condone horrific murders; but unfortunately, far too many do buy the rationale that a Blackstone Real Estate CEO was doing something bad for regular people. And that assumption is what we will take to the woodshed in today’s Capital Record.
Aug 7, 2025 • 48min
Episode 247: A Sober View of the Economy
David is joined by his first podcast guest of 2025, and what a guest it is! The distinguished economist, Dr. Lacy Hunt, joins David to talk about a real assessment of the labor market; of economic growth; and of the second, third, and fourth order impact of tariffs. He transcends the mere first order inflationary impact to delve into the second order disinflationary impact. It is a fascinating conversation that is apolitical, objective, and vitally important.Quarterly Review and Outlook
10 snips
Aug 5, 2025 • 56min
Episode 246: Why I Will Always Be a Free Trader
A lively discussion unfolds on the merits of free trade versus protectionism, centering on personal values and community impact. The complexities of economic ideologies within conservatism are explored, urging a more nuanced view of trade that connects to human rights. Historical contexts and government interventions in trade policy are critically analyzed. The speakers argue passionately for the benefits of a global free market, emphasizing how it fosters individual freedom and national prosperity.
Jul 31, 2025 • 16min
Episode 245: Messing Up Capital Formation, Legally
David takes a look at certain efforts to undermine the spirit of the law, whether or not the letter of the law is followed, and what it means for our financial markets. This is a golden issue for Capital Record, an optimal application of where freedom and virtue must be juxtaposed.
14 snips
Jul 29, 2025 • 16min
Episode 244: Manufacturing Properly Understood
The podcast dives into the complexities of U.S. manufacturing, exploring the disconnect between cultural, political, and economic factors. It highlights how government regulations and cronyism affect job opportunities, advocating for community engagement over federal reliance. A shift in podcast format allows for deeper discussions, including insights from an influential economist. The conversation reveals the paradox of increased production with fewer jobs, promoting a need for educational reforms to better equip the workforce.
Jul 24, 2025 • 15min
Episode 243: What Could Go Wrong with 1 Percent Interest Rates, Mr. President?
Audio clip from FLVOICENEWS.COM
Jul 17, 2025 • 19min
Episode 242: When Millionaires Attack Billionaires
How should we think about people who make billions of dollars managing the capital of others? Does a hedge fund manager like Bill Ackman add any value to society? Why would someone worth $50-100 million hate someone worth $9 billion? This week’s Capital Record doesn’t have time to get into dog-whistle antisemitism, but it does have time to get into class envy, the embarrassing error of believing capital allocation is a valueless exercise, and the merit of achievement embodied by someone like Bill Ackman.
