Posted originally on Oct 1, 2025 by Martin Armstrong |  

Zohran Mamdani will be the death of New York City and the beginning of the end of democracy in America. If someone with his policies were to run even a decade ago, the world would have laughed him off. The extremist views on the left have pushed the blind masses to vote for the most extreme candidate, even if they dislike or fail to understand their views.

Mamdani is an openly racist, anti-American socialist who wants to dismantle the once great city of New York. He believes that the state should tax people based on skin color. Imagine if someone said Asians or Blacks needed to pay a higher share of taxes? It is unfathomable how anyone could cast a vote for this madman.

Socialists feed on increased taxation to support the welfare state, which comprises their voter base. They need people who are utterly dependent on big government to gain and maintain control. Equality to a Socialist means that everyone is equal in poverty. Not only does he want to raise property taxes, but he stated that “wealthier and predominantly white neighborhoods” in New York City should disproportionately shoulder the majority of the tax burden.

He has angered the Jewish community by failing to condemn Hamas. No one was asking him to take a stance on the two-state solution. Reporters simply questioned if he would condemn a KNOWN terrorist organization, and he said no. He declined to sign Holocaust remembrance legislation and has been openly hostile toward Jews. Mamdani refuses to denounce Sharia law. Perhaps women in New York will need to adjust their fashion trends.

Around 8% of New York is of Italian descent. Mamdani posted a picture of himself giving the middle finger to a Christopher Columbus statue in Astoria. Mamdani’s campaign was silent when Italian organizations demanded an apology.

Reminiscent of the Soviet Union, Mamdani believes that the government should invade the private sector and determine the price of goods such as rent and groceries. Mamdani believes that corporate price gauging is to blame, particularly at the grocery store. Where have we seen this before and what were the results?

Let’s take a look at Venezuela. Hugo Chávez implemented price controls to combat inflation, but it backfired and caused the nation to experience one of the highest rates of inflation in the world. The government arbitrarily set prices without considering demand, supply, or the costs incurred by the private sector. Business was no longer profitable, and small mom-and-pop shops disappeared. Those that remained could barely operate and experienced severe shortages on basic goods like food. The people panic and began to hoard what they could as they did not know when the goods would be available again.

Mamdani is pro-crime. He believes shoplifting should be legal—yes, legal. Mamdani would like to create open-air drug markets in New York and create safe spaces for people to use illegal drugs. The NYPD is to be defunded. Zohran simply states all the WOKE keywords that the people on the left want to hear without understanding their true meaning.

Mamdani has NO experience. He is an academic who worked for his parents up until three years ago. His views are eye-catching and extreme, leading the youth to believe that he is leading a radical movement to stick it to the man. These young voters do not understand what will happen if these policies are implemented.

Unfortunately, our models indicate that NYC will decline sharply in 2026. I warned in 2021 that the city was heading into a crash mode. It is fascinating how the 309.6-year cycle, marked by the time when NYC was on the brink of bankruptcy in 1975, aligns precisely with the year NYC was founded in 1665. It is striking how closely New York has followed the ECM model, which does not bode well for what is to come.