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US Senators warns not to invest in Chinese companies

U.S. senators have said a retirement fund for federal employees should not invest in China.

The Federal Retirement Thrift Investment Board plans to switch to an MSCI index with Chinese companies.
  • But the Senators say this would “expose nearly $50 billion in retirement assets of federal government employees, including members of the U.S. Armed Forces, to severe and undisclosed material risks” from corporate ties to the Chinese government.
All part of the trade war merry-go-round.

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A financial glossary

BANK, n. Bottomless cavity in the ground that sucks in money and the unwary.
I had quite a bit of money but then I put it in the bank.

BOND, n. A profitless contrivance used for catching the gullible or feeble-minded.
That pension fund is 100% in bonds now.

BROKER, adj. A comparative descriptive state for a client of a Wall Street bank.
He didn’t  exactly have a lot of money before he started dealing with Goldman Sachs. Now he’s even
broker.

BUBBLE, n. Fundamental prerequisite for a functioning Anglo-Saxon economy.
We need a new bubble to replace the ones we had in dotcom and property.

CENTRAL BANK, n. Lobbyist for commercial banks well versed in alchemy. (more…)

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