{"id":601610,"date":"2019-03-05T04:27:50","date_gmt":"2019-03-05T04:27:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/helicopter-ben-and-the-new-american-left\/"},"modified":"2019-03-05T04:27:50","modified_gmt":"2019-03-05T04:27:50","slug":"helicopter-ben-and-the-new-american-left","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/helicopter-ben-and-the-new-american-left\/","title":{"rendered":"Helicopter Ben and the new American Left"},"content":{"rendered":"<p><b>Helicopter Ben and the new American Left: <\/b>Talking to any veteran South American lefty about helicopters is likely to trigger less-than-fond memories of the dark days of the 1970s. And while many of the Trump-loving Twitterati are only too happy to give out <a href=\"https:\/\/gizmodo.com\/why-are-trump-supporters-offering-people-free-helicopte-1829705238\">helicopter rides<\/a> without charge to supporters of Bernie Sanders, center-left Democratic Party politicians may be seeing political benefits from an altogether different use of the helicopter, <a href=\"https:\/\/www.ft.com\/content\/cbed81fc-3b56-11e9-9988-28303f70fcff\">David McWilliams writes in the FT<\/a>.<\/p>\n<p><b>Opening the floodgates:<\/b> Former Fed Chairman Ben Bernanke earned his moniker \u2018Helicopter Ben\u2019 after he masterminded the central bank\u2019s <a href=\"https:\/\/www.investopedia.com\/terms\/q\/quantitative-easing.asp\">quantitative easing (QE)<\/a> strategy during the 2008 financial crisis. In a last-ditch attempt to prevent the implosion of the financial sector, the Fed frantically bought up junk securities and treasury bonds; propping up asset prices, lowering interest rates and staving off economic collapse. The helicopters were deployed above Wall Street and the sector became awash with cash.<\/p>\n<p><b>And now the millennials have bones to pick: <\/b>While QE succeeded in protecting the assets held by the boomer generation, it has effectively cordoned off property ownership as an unrealistic ambition for many millennials. This is beginning to exact political consequences, with the generational division of wealth becoming a hot topic in the early run-up to the 2020 presidential election. With <a href=\"http:\/\/www.people-press.org\/2018\/03\/01\/the-generation-gap-in-american-politics\/\">Pew Research<\/a> finding the majority of millennials supporting center-left policy positions, Fed monetary policy may well be responsible for a profound shift in US politics. As McWilliams asks ominously: \u201cWhat if a policy designed to protect the balance sheets of the wealthy has unleashed force that may lead to the mass appropriation of those assets in the years ahead?\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Helicopter Ben and the new American Left: Talking to any veteran South American lefty about helicopters is likely to trigger less-than-fond memories of the dark days of the 1970s. And while many of the Trump-loving Twitterati are only too happy to give out helicopter rides without charge to supporters of Bernie Sanders, center-left Democratic Party [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":601611,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9003],"tags":[72,724,4222,388,2397],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-601610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-worth-reading","tag-enterpriseam","tag-monetary-policy","tag-quantitative-easing","tag-us-federal-reserve","tag-worth-reading","wpautop","entry"],"acf":{"mongo_id":"26073ecb-f460-4596-827a-da0dafe6cd84","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/3\/1374.jpg","photo_position":"above","related_issue":[601581],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Helicopter Ben and the new American Left - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/helicopter-ben-and-the-new-american-left\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Helicopter Ben and the new American Left\" \/>\n<meta property=\"og:description\" content=\"Helicopter Ben and the new American Left: Talking to any veteran South American lefty about helicopters is likely to trigger less-than-fond memories of the dark days of the 1970s. And while many of the Trump-loving Twitterati are only too happy to give out helicopter rides without charge to supporters of Bernie Sanders, center-left Democratic Party [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/helicopter-ben-and-the-new-american-left\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-05T04:27:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/3\/1374.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/helicopter-ben-and-the-new-american-left\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/helicopter-ben-and-the-new-american-left\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Helicopter Ben and the new American Left\",\"datePublished\":\"2019-03-05T04:27:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/helicopter-ben-and-the-new-american-left\/\"},\"wordCount\":277,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/helicopter-ben-and-the-new-american-left\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/3\/1374.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"monetary policy\",\"quantitative easing\",\"US Federal Reserve\",\"worth reading\"],\"articleSection\":[\"Worth reading\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/helicopter-ben-and-the-new-american-left\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/helicopter-ben-and-the-new-american-left\/\",\"name\":\"Helicopter Ben and the new American Left - 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This is a shift from previous crisis handling policies in EMs, which have usually stayed away from QE. The experiment \u2014 which involves central\u2026","rel":"","context":"In &quot;THE MACRO PICTURE&quot;","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/253.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598002,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/12\/flexible-monetary-policy-a-buffer-against-government-debt\/","url_meta":{"origin":601610,"position":1},"title":"Flexible monetary policy: a buffer against government debt?","author":"enterpriseam admin","date":"12 May 2019","format":false,"excerpt":"Flexible monetary policy: A buffer against government debt? Central banks need to be flexible in their monetary policy, rather than dogmatically pursuing higher prices in the face of lower-than-expected levels of inflation, argues Marie Owens Thomsen, global head of investment intelligence at Indosuez Wealth Management, in the FT. While the\u2026","rel":"","context":"In &quot;Worth reading&quot;","block_context":{"text":"Worth reading","link":"https:\/\/enterpriseam.com\/egypt\/category\/lifestyle\/worth-reading\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/362.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568565,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/15\/egypt-in-the-news-on-15-november-2020\/","url_meta":{"origin":601610,"position":2},"title":"Egypt in the News on 15 November 2020","author":"enterpriseam admin","date":"15 November 2020","format":false,"excerpt":"Leading the conversation on Egypt in the international press this morning: Seven peacekeepers with the US-led Multinational Force and Observers (MFO) died on Thursday after their helicopter crashed near Sharm El Sheikh, the organization said in a statement. Five Americans, a French and a Czech citizen were among the deceased\u2026","rel":"","context":"In &quot;EGYPT IN THE NEWS&quot;","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":565492,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/asset-purchase-programs-heat-up-in-emdes\/","url_meta":{"origin":601610,"position":3},"title":"Asset purchase programs heat up in EMDEs","author":"enterpriseam admin","date":"12 April 2021","format":false,"excerpt":"Uncharted territory: How asset purchase programs became a thing for EMDEs: Amid the economic fallout from the pandemic, a wave of asset purchase programs in emerging markets and developing economies (EMDEs) over the past year has helped to instill some stability in financial markets, but their long-term macro consequences remain\u2026","rel":"","context":"In &quot;THE MACRO PICTURE&quot;","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/397.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594372,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/28\/wall-street-journal-creates-diversity-and-inclusion-ranking-research-shows-diverse-companies-perform-better\/","url_meta":{"origin":601610,"position":4},"title":"Wall Street Journal creates diversity and inclusion ranking, research shows diverse companies perform better","author":"enterpriseam admin","date":"28 October 2019","format":false,"excerpt":"The WSJ crunched the numbers, and it turns out diversity does have a positive impact on company performance: The Wall Street Journal created a diversity and inclusion ranking for S&P 500 companies that uses 10 metrics, including the age and ethnic diversity of the company\u2019s employees, how many women occupy\u2026","rel":"","context":"In &quot;Worth reading&quot;","block_context":{"text":"Worth reading","link":"https:\/\/enterpriseam.com\/egypt\/category\/lifestyle\/worth-reading\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/10\/670.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":651854,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/22\/turmoil-in-western-markets-could-give-em-a-chance-to-shine-ft\/","url_meta":{"origin":601610,"position":5},"title":"Turmoil in Western markets could give EM a chance to shine \u2013FT","author":"enterpriseam admin","date":"22 February 2017","format":false,"excerpt":"There\u2019s never been a better time to make your country or company\u2019s investment case:\u201cBy seemingly voting against trade deficits, immigration, low-quality jobs and \u2018low-flation,\u2019 western electorates may have unleashed a tectonic policy shift from globalism to national revivalism,\u201d writes the Financial Times. 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