NY State of Mind

NY begins the last chapter of its self-destruction this year. By 2035, every new motor vehicle offered for sale in NY must be fossil-fuel free...that is, electric. But that electric-vehicle mandate begins its 10-year phase in at year-endthis year! By the end of 2025, 35% of new vehicles on dealers' lots must be electric. That percentage gradually increases to 68% by 2030 and 100% by 2035. The mandate includes all cars, SUVs and pickup trucks. Where will the electricity to power these vehicles come from? Governor Hochul neither knows nor cares. But I'd predict electricity rates in NY will be on the way up. So will the prices of reliable used cars.

To help offset the increased cost of cars and electricity, Governor Hochul will be handing out free money. Nothing stokes inflation like a free money giveaway. But, having learned nothing from the 20% inflation ignited in part by the Covid giveaways and the grossly misnamed "Inflation Reduction Act," as part of her 2026 budget deal, the governor has unveiled a $2 billion "inflation refund" plan for 2026. The initiative will distribute checks to some 8 million New Yorkers. Checks will be for $200, $300 or $400, depending upon income. More inflation is sure to follow.

And then there is The Commie Mamdani. Democratic Socialist Zohran Mamdani seems a shoo-in to win the mayoral race in NYC. He is already the face of the Democrat Party and has become emblematic of the kind of politician young NY'ers are looking to for leadership. The kind who offers free stuff.

All of this spells disaster for NY... especially NYC. What the heck are they thinking?

Unfortunately, disasters like this rarely stay confined to those responsible. The electric grid throughout the northeast will almost certainly be impacted. So will neighboring economies. It's going to be a bumpy ride to the bottom.