Marc Faber, the über-bearish author of an investing newsletter who frequently appears as a guest on financial TV, wrote in his latest “Gloom, Doom, and Boom” report that he was glad the US “enjoyed 200 years in the economic and political sun under a white majority.”
In the October edition of his report, which is only available as a paper copy and was seen by Business Insider, Faber focused on the economic policies of major governments.
In a section of the report discussing “Free Markets and Capitalism Versus Socialism,” Faber variously decries the “liberal media,” “righteous socialist” New York City mayor Bill de Blasio, and the tearing down of Confederate monuments.
Faber says that most of the focus in today’s society is placed on issues like the monuments, rather than focusing on more important issues such as the growing amount of outstanding debt or “unfunded government pension liabilities.” The report then goes into an aside regarding his thoughts on the Confederate monuments.
From the report:
“I don’t want to enter into a serious discussion of about the tearing down of monuments of historical personalities, but I cannot omit mentioning how the liberal hypocrites condemned the Taliban when they blew up the world’s two largest standing Buddhas (one of them 165 feet high), situated at the foot of the Hindu Kush mountains of central Afghanistan, in 2001. But the very same people are now disturbed by statues of honourable people whose only crime was to defend what all societies had done for more than 5,000 years: keep a part of the population enslaved. And thank God white people populated America, and not the blacks. 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. I am not a racist, but the reality — no matter how politically incorrect — needs to be spelled out as well. (And let’s not forget that the African tribal heads were more than happy to sell their own slaves to white, black, and Arab slave dealers.)”
Faber, also known as “Dr. Doom,” has been a provocative market commentator for some time, predicting large crashes in the stock market due to various possible economic calamities.
Faber confirmed to Business Insider that the report was authentic.
“I am naturally standing by this comment since this is an undisputable [sic] fact,” Faber said in an email.
In a follow up email, Faber further defended the note: “If stating some historical facts makes me a racist, then I suppose that I am a racist. For years, Japanese were condemned because they denied the Nanking massacre.”
He also copied a USA Today report on the banning of the book “To Kill a Mockingbird” in Biloxi, Mississippi.