http://online.wsj.com/article/SB120916592206646195.html?mod=psp_mostpop
Or is he Chicago?
How can he be Austrian when he says stuff like this?:
Mr. Bernstein is hopeful that Federal Reserve intervention will prevent deflation and depression, but he says there is no guarantee.
He appears to be a Keynesian at a glance. According to the review of his book ‘Against the Gods’, he cites Keynes and General Theory a lot. (http://www.amazon.com/Against-Gods-Remarkable-Story-Risk/dp/0471295639). As noted above, he is a “money crank” as he believes the Fed is needed to essentially drive the market, the finance sector in particular, however, I’m unsure if he would go as far as to socialize investment. Another funny bit of information, he wrote another book called ‘Power of Gold’ where he states that the metal has inheritantly evil properties causing warfare, strife and famine throught the centuries and he even applauds the end of the gold standard, internationally, during Nixon’s era. I’m sure gold is like kryptonite to those cranks, they see its shiny luster and wish it would go away since they can’t duplicate it like their fiat. On an interesting sidenote, I used to read a lot on alchemy- can we conclude they were possibly the first money cranks through revisionism? Something to think about.