So President Obama gives a major economics speech toward the end of last week, and the next week stocks get clobbered. It was the worst correction in many months. There’s probably no direct cause and effect here. But it’s worth noting that the president has been speaking out of all sides of his mouth during the market volatility.

In that speech a week ago he swore that he’s not anti-business. He said, “I actually believe that capitalism is the greatest force for prosperity and opportunity the world has ever known.” You know, that sounds a lot like my opening line on “The Kudlow Report,” where for nine years I said “Free-market capitalism is the best path to prosperity.” (Hah!)