Faber Says U.S. Wouldn’t Have Made as Much ‘Progress’ if Colonized by Blacks

Swiss investor Marc Faber has doubled down on racially charged remarks he made in an October newsletter, suggesting that the U.S. would be in a qualitatively different state if it had been colonized by black people instead of whites.

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Asked why “progress” would be worse, Faber had this to say: “Europeans brought science to America. They brought technical skills.…I am not sure the Africans would have done that.”

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Faber said he expected to face repercussions from his remarks, saying that if “stating some historical facts makes me a racist, then I suppose that I am a racist,” reiterating statements he offered to other news outlets via email.

CNBC and Fox Business Network said Tuesday that they will no longer book him on their shows.

Faber said he also anticipated being kicked off a number of boards on which he serves.

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“If you have to live in a society where you cannot express your views and your views are immediately condemned without further analysis and analysis of the context in which [they’re written] — if you can’t live with that, then it is a sad state of where freedom of the press and freedom of expression have come.”

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Faber told MarketWatch that “Africans will always use the excuse of [oppression] to explain where they are economically, saying that it is ‘all the fault of the colonists.’ ”

“They would be much better,” he continued, “under a system of Western colonialism.”