Optimism Looks Like the Bet <br>After Obama Demonstrates <br>What Policies To Avoid
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
So President Obama gives a major economics speech towards 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 the president has been speaking out of all sides of his mouth during the market volatility.
In the 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!)
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