WSJ: About that Romney reference to Obama having Cayman Islands investments...

[flpoljunkie]

Emphasis mine.

Inside Obama’s (Tiny) Caymans Investment

By Mark Maremont

President Barack Obama’s pension from his days as an Illinois legislator made an unexpected cameo appearance, in disguise, at Tuesday night’s debate.

In response to Mitt Romney’s pledges to get tough on China, Mr. Obama attacked the GOP nominee over his personal investments in Chinese companies. The president also cited news reports that Mr. Romney’s company – presumably Bain Capital – “invested in what were called pioneers of outsourcing.”

“Governor, you’re the last person who’s going to get tough on China,” Mr. Obama said.

Mr. Romney, apparently ready for this line of attack, said his investments were in a “blind trust,” and twice asked Mr. Obama if he had looked at his own pension.

“You also have investments in Chinese companies,” Mr. Romney told Mr. Obama. “You also have investments outside the United States. You also have investments through a Caymans trust.”

The Romney campaign said afterward that the GOP nominee was referring to Mr. Obama’s Illinois pension, which the president in his ethics filings has valued at between $50,000 and $100,000.

http://blogs.wsj.com/washwire/2012/10/17/inside-obamas-tiny-caymans-investment/

[bamacrat]

1. I caught that too.

Guilty conscience much Mitt?

[patrice]

2. Look at who finances our debt. Look in "our" stores. All of us have Chinese investments.

I'm wondering what real pressure on China to devalue its currency would cause them to do to our position relative to them. I hope someone will ask Mr. Romney that question at the next debate.

[kimbutgar]

3. The comments on the WSJ link to this story are hilarious. They actually think that union pension

funds are just as bad a rmoney's millions (possible billions) because a small amount is invested in overseas funds. I have an insurance policy that has overseas funds I guess I am like Willard! Not!

[abumbyanyothername]

4. Surely these guys have to understand this better

than their positions make it seem.

1) China is in the middle of industrializing its population. It is moving them off the farms and into cities at a rate that should be, to any sane person, alarming.

2) China already has a massive unemployment problem. Romney harps about 23 million unemployed in the US. China has at least 5 times that many unemployed. Mostly men. Who outnumber women in the critical 20-40 age group. This is not a recipie for domestic tranquility.

3) With Europe in the tank, there is no other society outside the US to consume Chinese crap. The natural resource economies of Russia, Canada and Austrailia can't do it. Brazil can't do it. The middle eastern oil despots won't do it.

4) China needs the US far, far, far more than the US needs China. We might be out a few toys. Their whole government and social structure comes apart.

5) Personally, I think we should just call their bluff and pay off 100% of the US debt they hold with newly minted US Reserve Notes and then refuse to sell them any more. Even if we get accused of currency manipulation in the process.

6) Americans needs to start consuming less of everything. For the good of themselves and the entire planet. But of course we can't, since so many of the companies who make up the cluster of policies that gets called America depend on China, their government and economy and especially their pool of cheap labor for their profits.

The whole thing is going to come apart within the decade.