Marc Faber’s America in Black and White

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It is truly amazing that even in our era of supposed political correctness, a respected financial advisor like Marc Faber, aka Dr. Doom, could publicly make the claim that the United States is much better off than it would have been if it had been colonized by blacks rather than whites. Even in the age of Trump, it seems that only the extreme rightwing hate groups have openly expressed such racist views.

In fairness, Faber did get one thing right: If America had been colonized by blacks instead of whites, our nation would certainly have been a very different place from what it is today.

The first black explorers and colonists might not have killed off the native Americans, stolen their land, and confined their descendants to impoverished reservations. And just maybe they might not have brought whites to America in chains, kept them enslaved for three centuries, and then subjugated to Jim Crow laws for another century.
We would not have fought the Civil War – the bloodiest war in our nation’s history. Nor would our nation remain divided to this day about the social and economic legacies of slavery.
As condemnations shower down upon Faber, he laments that his freedom of speech is being infringed upon. What about his first amendment rights? Well, no one is stopping him from speaking, and he will certainly continue publishing his investment newsletter, The Gloom & Doom Report.
But where is his sense of humor? Doesn’t he think it’s pretty funny and he can be such a fierce proponent of free speech, but somehow believe that it’s OK to enslave other human beings? Maybe he will be kind enough to address that question in his next newsletter.
Oh, and one more thing: If America had been colonized by blacks, Donald Trump would not be our president.

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About the Author

Steve Slavin
Steve Slavin has a Ph.D. in economics from NYU, and has written twenty math and economics books, including “The Great American Economy: How Inefficiency Broke It, and What We Can Do to Fix it.” The 12th edition of his introductory economics text came out in September.

1 Comment on "Marc Faber’s America in Black and White"

  1. Absolutely right. The depth of ignorance required even to think such things is staggering. Whites in the US imported and enslaved blacks to the point where 60 percent of US export earnings in 1860 came from cotton planted, tended, picked and chopped by enslaved black labor. US prosperity and power is for the most part a product of enslaved laborers working land stolen from natives.

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