The Trail: A Daily Diary of Campaign 2008


The Daybook

POTUS Events: Auto (Industry) Action

President Obama, leaving the White House for Camp David, March 27, 2009, where he spent the weekend. (J. Scott Applewhite/Associated Press)

By Sarah Lovenheim
President Obama receives his daily presidential briefing at 9:45 a.m., followed by his routine economic briefing at 10:15 a.m. At 11:00 a.m., he will deliver remarks on the state of the auto industry from the Grand Foyer of the White House. During his address, Obama is expected to outline new conditions for General Motors and Chrysler to meet if they hope to receive financial aid.

Shortly after noon, the president meets with Defense Secretary Gates to discuss the state of national security. At 3:00 p.m., Obama discusses the significance of Omnibus Public Lands Management Act at a signing ceremony for the bill.

Towards the end of the day, Obama heads to the Capitol for a 5:30 p.m. meeting with members of the House Democratic Caucus.

White House press secretary Robert Gibbs holds the routine press briefing at 12:45 p.m. Check out our Federal City Digest for the rundown of Vice President Biden's schedule and other noteworthy events around town.

Posted at 7:26 AM ET on Mar 30, 2009  | Category:  The Daybook
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This Country was Bankrupt long before President Obama...

Read Onward..
China v US money market funds

Posted on Thursday, March 26th, 2009

By bsetser

China’s purchases of US Treasuries in 2008 (Setser/ Pandey estimate): $245 billion

US money market funds purchases of US Treasuries in 2008, from the flow of funds: just under $400 billion

China’s purchases of US Agencies in 2008 (Setser/ Pandey estimate): $38 billion. That reflects $85 billion in purchases through July, and $47 billion in sales since then …

US money market fund purchases of US Agency bonds: $542 billion

China’s purchases of Treasuries and Agencies in 2008: $283 billion
US money market funds’ purchase of Treasuries and Agencies in 2008: $942b

I am waiting for a round of stories pondering whether money market funds will continue to buy Treasuries and Agencies at their 2008 pace!

US money market funds holdings of Treasuries and Agencies rose by close to 350% in 2008, as their combined Treasury / Agency portfolio rose from from $392b to $1334b. That pace of growth of growth won’t be sustained. The large rise came from a low base.

But money market funds did hold more Treasuries and Agencies ($1357b) at the end of 2008 than China ($1233b) did.

Posted by: omaarsblade | March 30, 2009 6:55 PM

Here's the Irony...

1. Most of You Own a Japanese Car or German Car.

2. Most of You Would Not Buy a Used GM or Chrysler Car.

3. Most of You will Jump at the Chance to Attack The Government or President Obama...

Yet had little or Nothing to say about George W. Bush ...

"Destroying this Country's Wealth ,as well as the Greedy, Corporate CEO's and Wall Street Heavies, who had and are still having a Ball with Your Money...

Note: You, the Tax Payer are the New Owners of ...

GM:USA and Chrysler:USA

Spare me, Your Moaning...

You Hypocrites.

Posted by: omaarsblade | March 30, 2009 6:54 PM

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