I wrote my brother Ken a brief email about the NYC Mamdani win. I will add nothing more and present it here as sent:
So Ken, NYC made its choice and decidedly so. I guess he sold the sizzle and there will be no steak.
There is something to learn but it isn't really a new lesson...the "free stuff" "tax the rich" "protect the criminals" rhetoric is still intoxicating to enough voters to bring about disaster. Mamdani will no doubt be a disaster. Could Escape from New York City redux be far off now?
The one fact that I personally see as nearly absolute is that when you reward any certain behavior, you get more of it. The Tax Code is filled with various proofs of that assertion as are Sanctuary Cities. So, NYC will be ground zero for something, exactly what I am not sure. Pundits say it ends the Democratic party. I can't disagree because he did not run as a Democrat anyhow but an avowed Socialist and would be Communista.
The thing I will watch with great interest is the exodus. Which company or wealthy family will be first to book their flight. I forget who said it, but it has been posited that the New York Stock Exchange, the venerable seat of all that Mamdani rails against, will relocate to Austin Texas tout de suite. We shall see. Even if that happens, they are still going to one hell of a Blue city. That system may be in its dying days Ken.
I had to write something and now find it difficult to say more than I am not surprised. Are you?
There is the potential that NYC will become the epicenter for the wealth gap war...not in a widening but in a "let them eat cake" moment. It seems a reasonable projection to say Mamdani will be a leader in the next revolt. Age old poor against the wealthy stuff. It is simply the result of a little too much 1% hoarding the rigged system spoils until the rat filled pressure cooker explodes no longer willing to be on the outside looking in. You often cite, "off with their heads"...that cheer has an overdue encore to perform.
L.
Donn
And now we watch.
Best,
Donn Marier
DM-Your Own CFO