Mitt Romney Erupts At Billionaire Ray Dalio

( So-called “Republican” senator for Utah, Mitt Romney, recently commented that billionaire Ray Dalio’s investment in communist China constituted a “moral lapse.”

Dalio is the billionaire founder of Bridgewater Associates, the biggest hedge fund in the world. The investment firm reportedly raised some $1.25 billion for a third investment in China for the company, which raised questions about whether the company was acting ethically.

After all, China’s economy is built on manufacturing, and the country regularly uses slave labor to meet the demand of cheaply-made manufactured goods that are exported all over the world. Not only that, but China regularly commits human rights violations against ethnic minorities, Muslims, and Christians.

During an interview on “Squawk Box” for CNBC, Dalio was asked whether he takes these things into consideration when making the investment, to which he responded that he “can’t be an expert in those types of things.”

Expert? It’s not hard. Everybody knows that it’s happening.

He added that he only pays attention to whether a government has a certain policy or regulation that requires him to do something specific, but that he “can’t be an expert on all those particular dynamics.”

He then went on to defend China in a way that only someone deeply knowledgeable of China’s propaganda would be able to.

“What they have is an autocratic system and one of the leaders described it that the U.S. is a country of individuals and individualism…In China, it is an extension of the family…as a top-down country, what they are doing is — they behave like a strict parent,” he said.

It certainly sounds like he’s done his research…

And even Mitt Romney, a long-time friend of Dalio, has come out to criticize him, describing his “feigned ignorance” of China’s human rights abuses and his “rationalization of complicit investments” which constitute a “sad moral lapse.”

Sometimes, Mitt Romney is right. But it doesn’t happen often.