Market strategist Marc Faber under fire for racist remarks – Oct. 17, 2017
Comments made by Swiss investment adviser Marc Faber about race triggered a swift backlash.
Faber, who is well known for his market pessimism and often referred to as “Dr. Doom,” said in the October edition of his “Gloom, Boom & Doom Report” that it’s a good thing white people colonized America.
“Thank God white people populated America, and not the blacks,” he wrote. “Otherwise, the US would look like Zimbabwe, which it might look like one day anyway, but at least America enjoyed 200 years in the economic and political sun under a white majority.”
Faber continued on to say that he’s “not a racist,” and that he just wanted to highlight “the reality — no matter how politically incorrect.”
The report is dated Oct. 3, but Faber’s racist commentary only attracted attention this week.
The passage in question is part of a broader section that denounces socialism and includes a lengthy criticism of New York City Mayor Bill de Blasio. Faber writes that socialist tendencies are common in modern communities, and decries efforts to tear down “important historical monuments that are a reminder of our history, even if it was not always glorious.”