Anthony Scaramucci, the founder of SkyBridge Capital, described Zohran Mamdani’s victory in New York City's mayoral race as an “anger-based reaction” by the young people against the policies of the boomer generation's political elites.
Baby Boomer Policies To Be Blamed?
Speaking at the SALT Conference in London, Scaramucci stated that the baby boomer political elites in the U.S. overspent, overpromised, and undertaxed, leading to “wild levels” of deficit spending.
“And so there’s a group of younger people in the country that are really upset. And this is sort of an anger-based reaction,” Scaramucci argued. He described Mamdani’s election as a reaction to this dissatisfaction, which manifested itself as democratic socialism.
Mamdani Could Become ‘Popular’ If Policies Are Centrist
The vocal Bitcoin (CRYPTO: BTC) advocate also expressed uncertainty about Mamdani’s policies, stating they are “completely unclear” and that many “don’t make sense”.
He suggested that if Mamdani governs from the center, he could surprise people and become a “popular mayor.” However, he warned that if Mamdani leans too far to the left, it could potentially halt the city’s progress.
A Historic Win For Mamdani
Scaramucci previously expressed concern that Mamdani’s election could lead to an exodus of the city’s wealthy, causing economic strain. He had stated that the “aura” of Mamdani could cause “happy feet, rich people to leave the city”.
Mamdani’s election as NYC mayor is historic, as he is the city’s first Muslim and first South Asian-heritage mayor. His campaign focused on free childcare, fast buses, city-run grocery stores and a rent freeze.
Mamdani found support from Sen. Elizabeth Warren (D-Mass.) and Sen. Bernie Sanders (I-VT) for his focus on public welfare. President Donald Trump, on the other hand, warned earlier that if Mamdani becomes mayor, it would be "highly unlikely" that he would contribute Federal Funds for the city.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
