Presidential candidates weigh in on market swings

Now's the time for US to get back mojo: Kudlow

As the market endured wild swings this week, various presidential candidates chimed in with their two cents' worth on the matter. However, two political veterans didn't think they had any brilliant insights.

On Thursday, New Jersey Gov. Chris Christie addressed the issue of China, whose slowing growth is seen as contributing to the recent correction.

"The reason we're so susceptible to changes in the Chinese economy is because the Chinese have lent us so much money and have so much of our debt. If China gets a cough, we get the flu because this president runs up more debt than any president in American history," the GOP presidential hopeful said on "Squawk Box."

Candidates such as Donald Trump, Scott Walker and Sen. Bernie Sanders also weighed in on the markets earlier this week on Twitter.

Trump tweet

Walker tweet

Sanders tweet

"None of them have really made a great contribution to this debate," former Rep. Barney Frank said in an interview with CNBC's "Closing Bell" Thursday.

"We should not overreact to the gyrations day to day in the market [and] ... we should not overact to what the candidates say about those things."

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However, Frank, a CNBC contributor, took issue with Christie's point on China, calling it "nonsense."

"Our problem is if China slows down, as it has been slowing down and they buy less, that's problematic," he said. "They buy our debt … because the American debt is the safest in the world. That is a tribute the Chinese are paying to our stability as an economy."

CNBC senior contributor Larry Kudlow believes the slowdown in China presents a great opportunity that the candidates are not taking.

He thinks they should talk about slashing or abolishing the corporate rate, opening up all energy resources and education reform, all to maximize America's competitiveness.

"The USA can really get back its mojo relative to China if we have these kinds of competitive policies. That's what these guys ought to be talking about, plus a steady dollar," said Kudlow.

—CNBC's Crystal Lau contributed to this report.