As I report at EconomicPolicyJournal.com, Marc Faber is quickly losing most of his financial affiliations after writing in his newsletter:
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.Faber went on to write:
In summary, Faber has a sympathetic ear for Confederate soldiers but a not so sympathetic ear for blacks. Sympathy for a culture of a time but a view that black culture will last forever.
[The Confederate monuments] 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.
It is true that there are more brutal totalitarian regimes in Africa, but it is a giant step missing many logical steps to link those brutal regimes to the skin color of the inhabitants of the region.
A case can be advanced that the African continent is filled with valuable minerals which makes it easy for brutal dictators to operate in (You enslave the people and sell the minerals on the global market).
In regions lacking valuable minerals, Switzerland and Hong Kong, for example, leaders need to allow freedom to create wealth--it is not going to come out of the ground.
Further, it is not as though white nations haven't had their share of tyrants. See Hitler's Germany and Stalin's Soviet Union, for example.
Thus, Faber's comments appear on as shaky of a ground as his financial forecasts.
To be sure, more study needs to be done on the topic but it is a dangerous topic to venture into if your conclusions don't turn out politically correct,
As things stand now, commenter Evan Smiley at the EPJ post, Oh Boy, Forecaster Marc Faber: If the US " had been settled by black people instead of whites."; Sprott to Fire Him, has the best take:
The primary reason why "white" culture has become so successful is that it managed, around the Enlightenment, to finally reject the tribalist superstitions that had plagued mankind for most of its existence, and to embrace property rights, the rule of law, and methodological individualism. It's unbelievably tragic that so many want to throw that away and revert to modern-day tribalism in the form of ethno-nationalism.-RW