We -- that is we homo sapiens -- know that Rent Control and "Free Buses" don't work, because nothing's ever "free". There’s no “free” buses— someone has to pay for them. The only thing that rent control controls is the number of rentals — “rent control” only makes rental apartments even more scarce. We know these things. Except we don't.
We know these things even in New York. Except we don't.
Mayor-in-waiting, Zohran Mamdani says he's going to do it all over again. As if we'd never had the experience. As if we'd never heard of: "There's no such thing as a Free Lunch".
I saw it at "work" in China in the 1970s, when they were still running Marxist Leninist Communism. And all that meant was that all the allegedly "free" stuff was scarce and rationed. Or didn't exist at all.
But this is what New Yorkers are going to vote for. Again.
Go figure.
Below the Show Notes for the above video clip, in which Tom describes very well what the issues are. And how "free" things are never free. And how rent freezes only ever make rentals scarcer. Sigh...
Zoran Mamdani might be on his way to becoming the next mayor of New York, but is his vision for the city a promise or a warning? In this clip from our Live Tom Bilyeu Show on October 17, 2025, Tom breaks down Mamdani’s debate performance, his viral “free buses” proposal, and the deeper economic dangers behind his ideas.
Tom exposes why policies that sound compassionate can end up wrecking entire economies, why nothing in politics is ever truly “free,” and how ideology can blind even the smartest leaders to basic math. From rent freezes to wealth redistribution, Tom challenges the emotional appeal of socialism with hard facts, real data, and history’s painful lessons.
Watch as Tom and Producer Drew unpack what happens when political narratives ignore economic reality, and why so many people keep falling for the same promises. If you care about the future of cities, freedom, and financial stability, this is a conversation you can’t afford to miss.
My guess is that in power Mamdani won't be able to implement all the things he wants to do, for various bureaucratic and political reasons, and so he won't be able to make New York City into a complete dog's breakfast. Only partially so. He'll only partially screw it up. And that come reelection the message will be "we didn't get everything done we wanted to because of these horrible [name the villains], so we must double down on even more socialism. Even more free stuff; even toughter rental freezes." Or whatever. And he'll succeed. At that, at the re-election at least. Because, People Don't Learn.
They adopt failed policies. And when they fail yet again, they double down.
We'll see.
