CRYPTOMANIA, NATIONAL DEBT, AI STOCK BOOM OR BUST? With David Bahnsen - #923
THE SAVAGE NATION
Michael Savage
4.5 • 11.4K Ratings
🗓️ 20 February 2026
⏱️ 29 minutes
🧾️ Download transcript
Summary
Savage speaks with David Bahnsen — founder of The Bahnsen Group, host of the Capital Record, and a leading voice at National Review. They confront the collapse of fiscal conservatism in an era of runaway spending — and the ticking time bomb of America's national debt blowing past $38 trillion. Bahnsen sounds the alarm on what soaring deficits and a swelling debt-to-GDP ratio mean for your savings, your investments, and the country's future. Then the pair cover the top economic trends of our modern era:
The real reason gold is surging — and whether a financial panic is brewing
The crypto mania: revolution or mirage?
The AI stock boom — historic opportunity or the next bubble ready to burst?
A high-stakes financial reality check you won't want to miss.
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Transcript
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| 0:00.0 | And now, the world's most exciting podcast, The Savage Nation, home of borders, language, culture. |
| 0:14.8 | Here he is, Michael Savage. |
| 0:18.9 | David Banson is the founder of the Banson Group, a $7 billion, $7 billion national wealth |
| 0:26.5 | management firm. |
| 0:28.4 | Now, I've heard David many times, he's been on this show before he contributes to National |
| 0:32.2 | Review and hosts the Capital Record podcast. |
| 0:34.5 | You've seen him on Fox News, Fox Business, CNBC. |
| 0:38.2 | He's authored many bestselling books, including full-time work and the meaning of life. |
| 0:42.7 | But David, you manage a lot of money. |
| 0:45.1 | And if you go around America today, any small town now has wealth management experts with storefront |
| 0:52.7 | management companies. |
| 0:57.7 | You see them everywhere. Everybody wants to get into your game. But you're at the top of the heap. You've been managing a big fund for a very long |
| 1:02.6 | period of time. You understand money. I'm not a money manager. I'm a fairly successful man |
| 1:07.9 | and I understand fiscal constraints. I've always managed my own |
| 1:13.5 | checkbook. I've always watched my credit card that even when I had no money. I knew that I couldn't |
| 1:18.2 | spend more than I was earning only for a certain period of time, and then I would go bankrupt. |
| 1:23.3 | How is it that a government doesn't have the same constraints? That's what I want to know. |
| 1:29.1 | Well, there's two things that go on. |
| 1:31.2 | First, there's the mechanical aspect of the fact that they have the ability to spend money |
| 1:37.5 | that doesn't exist in a way that you didn't have and your parents didn't have and I don't |
| 1:43.1 | have and regular people don't have. |
| 1:45.8 | Not just regular people, but regular companies as well. So the government has the ability to |
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