Mamdani’s socialist dreams for NYC are facing a wake-up call — from increasingly skittish investors

Source: New York Post

Mayor Zohran Mamdani’s socialist dream for New York City is facing a wake-up call – in the form of a cash crunch and spiraling borrowing costs from investors who are increasingly alarmed over his Marxist experiments, On The Money has learned. Mamdani – who has proclaimed that he will “replace the frigidity of rugged individualism with the warmth of collectivism” – balanced his $124. 7 billion annual budget as required by New York law with a series of gimmicks, so-called one-shot revenue raisers that included delaying some pension payments.