Well, they actually went and did it.

Yesterday, New York City, once considered the center of global capitalism, went full communist and elected Zohran Mamdani as its next mayor. 

Now, to those of you who are about to cry out and tell me how “he’s not really a communist, he’s a democratic socialist…”,

…I’d like to tell you you’ve been “got” by the tens of millions of donor-backed campaign spending to make you believe that there is any significant difference between what he claims to be “democratic socialism” and full-out communism. 

Look, I don’t care what you call it; Mamdani promotes a radical socialist agenda and the kind of policies you see in the countries that today have been the most overrun (and destroyed) by socialism…

…places like Cuba and Venezuela, for example…

Whether it’s government-run grocery stores, rent freezes, “free” child care or a $30-per-hour minimum wage, Mamdani’s proposals have an unmistakable communist undertone. 

These ideas might sound nice to 19-year-old blue-haired college students, whose political and moral compass is based in a fantasy world, but anyone who has lived through them in the real world knows better. 

I have friends who’ve lived through socialist and communist regimes like the Soviet Union, Mao’s China, and even in today’s Venezuela, and they would pick free-market capitalism every time.

Everywhere the ideas of socialism and communism begin to take hold, things get progressively worse, and sadly, we are seeing this in real-time in places we would have never imagined a few decades ago, like my birth country of Canada and now, New York City. 

The short-term effect will almost certainly mean massive capital flight out of New York City. 

But where will it go?

Some of it will escape to tax-friendlier areas of the U.S., like Florida or Nevada, while others will see the larger trend and start looking toward greener pastures overseas. 

The main reason I live in Panama is that this country( and much of Latin America) is moving in the exact opposite direction of New York City and other once-great Western cities and nations. 

Panama is actively welcoming foreign investment, doesn’t tax foreign-sourced income, and just made its Investor Visa even more appealing. 

…and much of Latin America continues to trend away from its socialist past, as evidenced by the rejection of socialism in Bolivia and a significant victory for Javier Milei’s La Libertad Avanza party in Argentina in the past few weeks. 

Whether you’re in New York City or any of the other Western cities trending in the wrong direction, I encourage you to explore your options and take a few minutes to read this important letter.

Speak soon,

Mikkel

PS. I’ll be welcoming a small group of freedom-lovers to Panama this January for the return of our popular Fly ‘N Buy Real Estate Tours. This is a great way to check out Panama in person and meet up with myself and other members of the community. The best part? If you end up buying real estate on the tour, our partners at GLP will cover the cost of your trip, as well as airfare up to $1,000. Secure your spot today before it fills up.

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