Staff Reports
In the latest shocking news, it has been revealed that American public pension funds have been recklessly throwing more than $68 billion into the black hole of China since 2020, despite the fact that China is our nation’s biggest adversary. What on earth are these finance wizards thinking? These so-called “experts” are sounding the alarm bells about the potential national security risks, and honestly, it’s not all that surprising.
According to a report obtained by The Post, the nonprofit Future Union discovered that 56 of the biggest American pension plans have been merrily tossing money into the Chinese market over the past three years. That’s right, while tensions between Washington and Beijing have been heating up like a cast-iron skillet, these folks have been doing the opposite of what any sane person would do.
The report goes on to point out that in the past 12 months alone, there have been 24 investments made in China. It’s like they’re giving a big thumbs-up to China’s technological advancement, and it’s not a good look. The report emphasized that even some of the largest US public pensions have jumped on the China bandwagon in recent months. Absolutely bonkers!
When politicians fail to consider all the ramifications of popular policy stances: Top US retirement funds trigger national security fears after sinking $68B into China market over last 3 years https://t.co/eLQH9V83Ac via @nypost
— Vincent Ryan (@vincerCFO) December 21, 2023
But wait, it gets worse. The report also revealed that these pension funds have over $73.28 billion tied up in Chinese stocks. Yeah, you read that right. That’s a whole lot of money that could be going to support American innovation and industry, but nope, it’s being shipped off to help our biggest rival instead. It’s like these pension funds have taken a trip to Fantasyland and never bothered to come back.
And if that’s not enough to make your blood boil, get a load of this: even American school systems and universities’ endowment funds have been roped into this madness, throwing more than $7.6 billion into Chinese companies. We’re talking about institutions like the University of Michigan, Texas’ public school fund, and the University of California – all getting cozy with Chinese companies. It’s like they’re making a guest list for a party and China’s name is written in bold, glittery letters at the very top.
The executive director of Future Union, Andrew King, didn’t hold back in his criticism, calling out the managers of these pensions and endowments for their ignorance and lack of accountability. He pointed out that even though private university endowments are also guilty, the total amounts they’ve invested are unclear because they don’t have the same reporting requirements as public institutions. It’s like they’re hiding their hand in a game of poker, hoping no one notices the wild cards up their sleeves.
But here’s the real kicker: King emphasized that he’s not accusing these money managers of intentionally backing China over the US. Instead, he explained that the temptation to invest in Chinese stocks is strong because China tightly controls its market and can artificially inflate returns. It’s like a siren’s call, luring them in with promises of big returns while turning a blind eye to the potential threats to our national security and economic well-being.
And just when you thought it couldn’t get any more absurd, former Pentagon chief technology officer Christine Michienzi chimed in, calling China “the leading threat to US national and economic security” and pointing out that investing in its market only gives China an even bigger advantage. It’s like they’re handing over the keys to the kingdom and hoping for the best.
Future Union plans to take its findings to Congress, and let’s hope they can give these pension funds and university endowments a good old-fashioned reality check. These investments in China are like playing with fire, and it’s high time these folks start thinking about the long-term consequences of their actions. Let’s hope Congress can set them straight before it’s too late.
