A New Year prediction.

https://thedailyeconomy.org/article/new-yorks-death-wish/

New York’s Death Wish

Zohran Mamdani garnered a bit more than 50 percent of the vote in the recent New York City mayoral election. Have voters learned nothing from history? Apparently not. As Nobel laureate F.A. Hayek quipped, “if socialists understood economics, they wouldn’t be socialists.”

In the past six months, I count no fewer than twelve pieces in The Daily Economy that discuss — directly or indirectly — Mamdani’s socialist policies.  Rent controls will decrease the quantity and quality of housing. Millionaire taxes would accelerate the exodus to more friendly states, to the great glee of Texas and Florida real estate agents. City-owned grocery stores would end in a bungle of Soviet proportions, increasing food deserts and raising prices. The drop in tax revenue from increased taxes (Laffer Curve, anyone?), combined with increased expenditures, would lead to another debt crisis.