Slate Daily Feed Slate Money | Megayacht Foam Parties Are In
Jun 28, 2025
This week, hosts dive into the political drama surrounding Zohran Mamdani's primary win for NYC mayor, unpacking business leaders' exaggerated fears of socialism. They discuss Trump's ongoing antics regarding the Fed Chair position and take a lighthearted detour into Jeff Bezos's extravagant wedding in Venice. The conversation also touches on the evolving trends in wealth display, including luxury yacht parties, and the bizarre world of collectible dolls and counterfeit markets. Expect laughs alongside serious financial insights!
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New York's Socialist Mayor Reality
- Zoran Mamdani's win worries some business leaders, but New York City's political structure limits radical change.
- His policies, like rent freezes, target rent stabilized units, affecting a minority and won't upend capitalism.
Rent Stabilization Deep Roots
- Rent-stabilized apartments already control rental prices for most NYC rentals.
- Mamdani's rent freeze policy won't affect all renters, and market dynamics remain largely capitalist.
Limits of NYC Mayor Power
- City mayor's power is constrained by state governance and local councils.
- New York City politics focus more on practical governance than strict left-right ideology.