1) Who’s Responsible for the Mamdani Win? Our Schools and Universities

Many of our readers have told us they are dumbfounded that an avowed socialist was elected to be the mayor of America's largest city and the financial capital of the world.

How could just over half of New York City voters be this out of touch with reality?

It's the dumbing down of America, and the education empire has been the lead actor.

Exit polls show that Mandani won 78% of voters under age 30 and 57% of college graduates, but just 26% of the white non-college vote:

And he won with transplants, not native New Yorkers. Those who have lived in New York most or all of their lives know firsthand how giveaways and high taxes have ruined their city.

Nationally, polls show two thirds of Democrats now support socialism:

And the youngest voters even support communism:

As we've warned many times before: We are paying a high price in America for allowing the left for 50 years to infiltrate the schools - from kindergarten to post college degrees.

2) Can This Man Save Our Corrupt Universities?

Speaking of the miseducation of America, the universities are at the tip of the spear. Now, a school that celebrates tolerance and truth may soon be competing head-to-head with the elites, where those notions are long gone.

3) A Billionaire Bailout?

It was 16 years ago that the U.S. economy was flattened by the mortgage and banking crisis.  

Anyone remember?

The government experts assured us that the odds were tiny that the housing market could crash. Then it did. The government spent more than $1 trillion to bail out the banks and the mortgage lenders.

So now some Republicans want to raise the FDIC deposit insurance limit on savings/checking accounts from $250,000 to… $10 million.

How many Americans have $10 million to deposit in the bank?  Well, let’s see: there’s Bill Gates, Elon Musk, and Taylor Swift to name a few. We're the last people on earth to join Bernie Sanders in tearing down “the rich” when they earn it. But there’s no reason the federal government should be insuring their bank accounts.    

A recent study from the Cato Institute found that fewer than 1% of deposit accounts exceed $250,000, the level at which FDIC coverage currently ends.  

Warren Buffett should not ever get taxpayer bailouts.

4) Will We Ever Learn This Economics Lesson?

Our quote of the day comes from Milton Friedman. He once lamented to us at a private dinner this strange paradox:

"The enduring lesson of the 20th century is that economic freedom is a success and socialism and communism are a failure. And yet the conclusion of the intelligentsia is that we need more socialism and less economic freedom."

Why do we keep forgetting that?

5) Well, At Least Some Cities Didn't Go Socialist

It won't get much media notice, but two liberal cities that didn't move towards social mayors were, of all places, Minneapolis and Seattle.

In liberal Minneapolis, Mayor Jacob Frey defeated socialist State Senator Omar Fateh, who won the endorsement of Minneapolis Democrats this summer.

Fateh ran on sharply higher taxes on the "wealthy", rent control, the potential takeover of private enterprises. In 2022, he supported a losing ballot measure to defund the police.  He also agreed with Mamdani about opening city-owned grocery stores.  

Frey is no superstar, but he strongly opposed defunding the police and vetoed a law setting new minimum wage laws that almost drove Uber and Lyft out of the city.  His six-point victory was higher than his last re-election in 2021.

Meanwhile in Seattle (which saw one of its neighborhoods occupied for weeks by protestors after the 2020 murder of George Floyd), moderate mayor Bruce Harrell appears to have won re-election, although thousands of mail-in votes must still be counted.

He currently leads Katie Wilson, his openly socialist opponent, by ten points. He has attacked her promises to spend taxpayer money on online blogs and free summer child care as "a bill of false goods with checks that can't be cashed."

We often point out how left-leaning Blue States are losing residents and businesses to low tax and light regulation Red States. But the problem is even more pronounced in Blue Cities within Blue States. Socialist mayors will hollow out the very commerce and enterprise that made these cities great. But cities like Minneapolis and Seattle show that their victory is not inevitable.

6) Voters to New York: Drop Dead!

As Ed Koch said when he lost to David Dinkins, "The people have spoken ... and they must be punished."

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