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'Dr. Doom' investor faces backlash over race comments
Marc Faber, the veteran Swiss investor and Wall Street analyst known as 'Dr Doom, 'sparked outrage this week for writing in his latest newsletter that the United States had only prospered because it was colonized by white people, 'and not the blacks.'The famously pessimistic economist who predicted the 1987 stock market crash and the Great Recession was ejected from the board of Canadian fund manager Sprott Inc after his racially charged remarks.
Business television networks such as CNBC and Fox Business said they would remove Faber from booking lists for their shows.
In the October edition of his popular newsletter, 'The Gloom, Boom and Doom Report,' in a section discussing capitalism versus socialism, the 71-year-old Faber took a stand against the removal of Confederate monuments, writing: 'Thank God white people populated America, 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.'
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