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Galois_Capital

What makes Mamdani dangerous is that he is simultaneously less sociopathic than Newsom (at least he doesn’t look like Patrick Bateman) while being more Machiavellian than AOC and Bernie. It’s easy to see why his campaign videos are effective. Like all communists, he spins utopian promises born of mimetic envy but couched in the language of fairness and justice. His rhetorical ability should not be underestimated. He represents the second wave of left populism. Political polarization of the youth toward both left and right populism will continue until long term treasury yields come down and the fiscal situation improves. Fortunately, fiscal improvements are already happening and there is still some time before the problem of left populism becomes intractable. My guess is that we have this presidential term plus the next one or half the next one to right the economy before this socialist crazy train can’t be stopped. Still we shouldn’t cut it close. First term presidents, having to worry about reelection, just aren’t as effective as second term presidents. Plus Trump was able to create a very broad coalition which his successor may not be able to fully inherit in its entirety. So we do have some time but not too much time. And as much as we think this Mamdani character is ridiculous, I would not be surprised if even zanier characters pop up on the left over the next couple of years promoting all manner of wild demagoguery.

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