Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
The enemy of my enemy is my friend … NYC Mayoral Election
I have not payed a great deal of attention to that race. And do not know much about Mamdani. I do assume that this is a deep rebuke of trump. He should be getting very nervous, as he appears to be driving the bus off of a cliff.
I have not payed a great deal of attention to that race. And do not know much about Mamdani. I do assume that this is a deep rebuke of trump. He should be getting very nervous, as he appears to be driving the bus off of a cliff.
Other than listening to Mamdani’s victory speech last evening (more or less by accident) I don’t know much about him. Trump dislikes him enough to have pressured current city mayor Eric Adams (who he kept out of jail) out of the race and to have backed a Democrat, Andrew Cuomo, who lost decisively. From Mandani’s speech - He wants the wealthiest in NYC to pay a larger share of the tax burden with benefits accruing to the less privileged through better social programs and some type of rent subsidies or low income housing program. Lord knows there’s a terrible disparity of wealth in the country. It was a powerful well delivered speech. He goaded Trump a bit. Whether he can effect the changes he seeks without harming the city’s economy … I don’t know.
I occasionally visit NYC. Judging from hotel rates $500+ (for a single night) I conclude it must be a terribly expensive city in which to live.
I wish him the very best but I have to tell you that the odds against his program desires are so steep that I fear for his disappointment and consequently that of those who voted for him.
I somewhat agree with you OJ but what good has the programs of those more entitled done for the bulk of the everyday residents of NYC? Let the people have some hope or a vision of same that someone with some power (mayor) is looking out for their interests and needs. The taxes he's purposing are couch cushion change for those he intends to charge for leveling the playing field. After all, those who will benefit have never seen one thin dime from trickle down policies or election campaign promises (lies).
It is increasingly a 2-tier nation. Very wealthy. Less affluent / less privileged. If there’s a middle class it’s probably the AG community, small business people, some professionals & some retirees with accumulated wealth. That middle class often identifies with MAGA and can swing the vote. Maybe a terrible pun - but labor back there somewhere got burried along with Jimmy Hoffa.
So the disparities Mamdani addresses surface in nearly every walk of life. FAA is preparing to cut commercial air capacity Friday by 10% if no deal on budget struck. I can’t imagine it will impact the wealthiest like the Trumps, Musk, Bezos, Gates. The pillow man? They & their family and friends will get around just fine. The poor dupe who saved and planned and booked a vacation trip months ago will suffer with long delays and cancellations. And the century old NYC subway system? Ages behind what most developed countries, including the UK & Canada have. An inviting haven for crime, homelessness, drugs. If your name is Trump, Bezos, Gates you probably don’t need a subway. Limo or chopper will work just fine. Hey, if Dufus Duffy wants to cut air traffic, let him start grounding all the private jets and choppers. You’d have a budget agreement in no time.
The tragic consequences of the 2-tier society only amplify over time. Not just the present inconvenience or challenges. Kids brought up poor and without good educational opportunities (K-12 and beyond) and having some basic needs met are more likely to be left behind when older - turn to crime and perpetuate the cycle of poverty.
Mamdani posed an ambitious and challenging plan to fulfill. Just like when Obama was handed a very difficult economy when he took office, it took several years to bring down the high unemployment as the country came out the recession. I am hopeful and optimistic at the same time that he will be successful for NYC.
“And while we cast our ballots alone, we chose hope together. Hope over tyranny. Hope over big money and small ideas. Hope over despair. We won because New Yorkers allowed themselves to hope that the impossible could be made possible. And we won because we insisted that no longer would politics be something that is done to us. Now, it is something that we do.”
Nice @Mark. I fear some have fostered violence as a solution. I strongly disagree and can’t even fathom how that could work given the technological capabilities (surveillance / weaponization) a tyrannical government would possess today. Mamdani (as your quote suggests) is seeking peaceful revolution brought about by massive popular support and as evidenced at the polls.
A line I picked up listening to his referenced speech (roughly paraphrased): Stop telling those workers making $20 an hour that the workers making $30 an hour are their enemy … and pitting one against the other.
Comments
I occasionally visit NYC. Judging from hotel rates $500+ (for a single night) I conclude it must be a terribly expensive city in which to live.
So the disparities Mamdani addresses surface in nearly every walk of life. FAA is preparing to cut commercial air capacity Friday by 10% if no deal on budget struck. I can’t imagine it will impact the wealthiest like the Trumps, Musk, Bezos, Gates. The pillow man? They & their family and friends will get around just fine. The poor dupe who saved and planned and booked a vacation trip months ago will suffer with long delays and cancellations. And the century old NYC subway system? Ages behind what most developed countries, including the UK & Canada have. An inviting haven for crime, homelessness, drugs. If your name is Trump, Bezos, Gates you probably don’t need a subway. Limo or chopper will work just fine. Hey, if
DufusDuffy wants to cut air traffic, let him start grounding all the private jets and choppers. You’d have a budget agreement in no time.The tragic consequences of the 2-tier society only amplify over time. Not just the present inconvenience or challenges. Kids brought up poor and without good educational opportunities (K-12 and beyond) and having some basic needs met are more likely to be left behind when older - turn to crime and perpetuate the cycle of poverty.
https://apnews.com/article/poll-election-2025-demographics-voters-latino-black-b59518a2c8d2f37f857fe1ac32995b9a
Mamdani posed an ambitious and challenging plan to fulfill. Just like when Obama was handed a very difficult economy when he took office, it took several years to bring down the high unemployment as the country came out the recession. I am hopeful and optimistic at the same time that he will be successful for NYC.
“And while we cast our ballots alone, we chose hope together. Hope over tyranny. Hope over big money and small ideas. Hope over despair. We won because New Yorkers allowed themselves to hope that the impossible could be made possible. And we won because we insisted that no longer would politics be something that is done to us. Now, it is something that we do.”
(Bolding added)
A line I picked up listening to his referenced speech (roughly paraphrased): Stop telling those workers making $20 an hour that the workers making $30 an hour are their enemy … and pitting one against the other.