Make New York Bankrupt Again: The Danger of Mamdani and 21st Century Socialism

History has a funny way of repeating itself—especially when bad ideas are recycled with new branding. Today, a new crop of political figures like Zohran Mamdani and Alexandria Ocasio-Cortez are trying to sell New York City the same failed product that turned Venezuela from one of Latin America’s wealthiest nations into a humanitarian catastrophe: 21st century socialism.

Under this model, punitive taxes, price controls, and ideological purity take precedence over economic reality. In Venezuela, Hugo Chávez’s promise of wealth redistribution and justice led to runaway inflation, widespread shortages, and the exodus of the country’s professional class. In Cuba, the same story played out decades earlier. Today, both nations are global case studies in how socialism destroys wealth, opportunity, and individual liberty.

Now that same ideology is creeping into American cities, and nowhere is it more potent than in New York. With Mamdani eyeing the mayor’s office, the parallels to California’s decline are alarming. Like Los Angeles and San Francisco, New York is already suffering from the early symptoms of the disease: wealthy residents fleeing the city, a stagnating middle class, and neighborhoods burdened by crime and decay. The situation became so bad in California that the state tried imposing wealth taxes and exit taxes of anyone leaving the state.

Rampant theft due to police not enforcing the law made stores close and leave California cities in San Francisco and Los Angeles

*Leftward California is losing its population to conservative states of Arizona and Texas according to Stanford Institute for Economic Policy Research*

Immigrants—especially those from Latin America—see through the facade. They’ve lived the reality of socialist populism. They know what it looks like when government promises everything and delivers ruin. And it’s no surprise that Mamdani’s support is concentrated among young, white, college-educated progressives. According to polls cited by the socialist Jacobin, he’s significantly behind Andrew Cuomo among Black and Hispanic voters—communities that understand firsthand the cost of broken systems.

If Mamdani’s vision becomes reality, New York may return to the bad old days of the 1970s: crime-ridden streets, garbage-lined sidewalks, fiscal insolvency, and a paralyzed government. But unlike the past, this isn’t just urban mismanagement—it’s ideological. The goal isn’t to fix the system. It’s to remake it in the image of a failed dream.

*New York City almost went bankrupt in the 1970s. Crime was rampant. It can happen again.*

The antisemitic New York City Democratic Socialists of America endorsed Mamdani. So has Linda Sarsour. Do you think Jews will remain in the city while antisemitism spikes throughout the United States and the mayor is bought by Jew haters?

*Jews were 4.5 times more likely to suffer a hate crime than a Black person and 22 times more likely than a Hispanic person in 2023. The antisemitic incidents have risen considerably since then.*

*Anti-Israel and its supporters Linda Sarsour is actively pushing the vote for Mamdani*

21st century socialism is not progress. It’s financial and moral regression. And unless voters wake up, New York may once again become the national symbol of urban collapse—this time by choice, not chance.

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