Asked about China’s concerns over the US economy and it’s impact on their massive holdings of US debt, the White House press flack says there is no better place to invest than the US. Earlier in the day, Larry Summers noted that stocks were at their cheapest level adjusted for inflation since 1966. Perhaps he is trying to lure the Chinese into the stock market as well…
The White House also said Obama called Saudi King Abdullah today. OPEC meets on Sunday so perhaps the president was reminding the king of the importance of stable oil prices as the economy tries to pull out of its dive.
