Capital Record

David is joined once again by Renè Aninao, a macroeconomic and foreign-policy analyst at Corbu, a leading Wall Street research firm. The conversation is not for the faint of heart, but they talk a bit about 30 years of post-Cold War market reality and the current reality in the Ukraine. When all is said and done, you will have a better understanding of how financial markets intersect with geopolitics, the opportunity staring President Xi in the face, and the unlikely beneficiary of it all. Furthermore, it will be clear how all of this is an economic story -- a lesson Jerome Powell has understood for over a year now.

David is joined today by Derek Kreifels, CEO of the State Financial Officers Foundation, the most prominent organization working to drive responsible fiscal management of state assets. The public owns the assets that states manage in state pension funds and the like, and the public deserves to have its interests represented -- and not the interests of a radical, incoherent cult hell-bent on eroding financial health and fiduciary duty. Derek walks us through what is going on at the state level with public money, and how excellent progress is being made by reaching out directly to those financial officers who work for the public.

David is joined this week by Dr. Glory Liu, author of the new book, 'Adam Smith’s America: How a Scottish Philosopher Became an Icon of American Capitalism.' David and Glory discuss the vast historical treatments of the famed moral philosopher, and how history has produced an Adam Smith for everyone, depending on their own presuppositions and biases. But through it all, we find that the great questions which come out of different treatments of Smith still require answers to this day. How do moral philosophy and economic laws optimally intersect? Where does economics as social theory stop and as political policy begin? And what are the rules and principles that govern our treatment of these subjects? Adam Smith had opinions. People for the last 250 years have had opinions about these matters, and had opinions about Smith’s opinions. And you will be shocked to know that we at Capital Record have some opinions, too.

David is joined for the third time by Jerry Bowyer, who is an economist, thought leader, activist, strategist, and friend, as they talk through the best antidote shareholders have to the ESG frenzy of today. Retreatism is held in disdain, surrender is deemed a moral failure of duty, and engagement is consider in a thoughtful and tactful manner. This is the Capital Record you have been waiting for.

David is rejoined by the great economist Dr. Lacy Hunt for a meaty and needed conversation about the “spender of last resort,” the Federal Reserve, the state of inflation, and expectations for bond yields in a world not having enough kids.

David is joined this week by First Things editor, Rusty Reno, a renowned theologian and public intellectual who has begun asking questions as to whether or not those who value markets are going to need more intervention from the state to see markets work better and to maintain a better social cohesion. There are areas of agreement and overlap and areas of tension and difference, but what David tries to do in this cordial discussion with Dr. Reno is clarify agreement on first principles. This leads to a wide discussion on various applications, and hopefully the beginning of a further conversation on the underlying tensions at play.

David is joined by supply-side legend Dr. Art Laffer to really look at the empirical truth of what higher taxes and lower taxes mean in an economy. They go all around the horn on the moral, economic, and political considerations of these questions, and leave you with conclusions you won’t be able to resist.

David and Anthony Scaramucci intended to talk about SBF, the FTX collapse, and the state of the whole crypto world, but they got distracted into a very broad discussion of vaccines, school choice, papal authority, and the blessings our guest and host enjoy in a market economy. This is a classic episode you will not want to miss.

David is joined once again by Sam Rines of Corbu, whose economic predictions in 2022 were pristine. They go round and round on today’s podcast making calls for the year ahead by discussing the Fed, energy, China, the economy, and so much more. It is what Capital Record should be: a real wrestling over capital markets, with two guys who build on the same ground.

David walks through the highlights of 2022; the big themes on Capital Record; and all the guests, topics, and dramas that made this a year to remember.