SmithieForMayor NYC 2025

NEW YORK, NY / ACCESS Newswire / October 24, 2025 / This is about credit bubble and the responsibility of urban governance as Mayor, city of New York.

Best day of my life was when I got issued my Bodleian library card in Oxford in the nineties. I was so happy to be granted the opportunity to browse through any old manuscript of my choice. The library card, I see as a credit. The un-limited access to browse through authentic manuscripts, I see as my credit bubble because all through my days at Oxford, I could just go to the library and browse through any historic manuscript of interest.

And as a heritage manager, a cloud banker and an artist running for Mayor, city of New York, I feel a strong need to apply what I learned from the administrative style of Edward I, King of England, aka Longshank to what I call the urban governance of New York City, as I plan to create jobs, stimulate the economy, boost business activities, re-purpose the city hall, as well as revive economically depressed communities.

In New York City of today, it is not uncommon to hear people talk about economic bubble, financial bubble, housing and mortgage bubble, but not credit bubble. Why? Because New Yorkers' like everybody only have a one dimensional view of credit. It is not seen and regarded as a bubble that could be used to lock down on a capital gain.

Imagine you are retiree and you are one of those lucky ones who manage to get by in New York City. You are less concerned about making payments on whatever sum of you went through on your credit card in the last days of your life. A relative, your landlord or a neighbor - at the end of it all, will find it necessary to contact your bank or tour credit issuers to notify them of your passing.

If you are working person or a business person, you have many ways of scheduling payments in advance. But same cannot be said of students or low income families. To these class of individuals, this is another line of payments added to their student loan, their housing bills, their medical expenses and many other bills that are to be paid weekly, bi-monthly or at the end of every month.

And with uber high inflation to contend with - as salaries and wages haven't changed in over a decade. You now have these class of individuals at the edge of a financial ruin - if they fall back on their bill payments.

Banks are happy to increase your spending power by increasing your credit limit, if you pay part of your bill or have a record of paying a little above the required minimum every now and then. You might appear to be supportive of your local economy, but what many have overlooked is, you are not only being squeezed out by inflation with the extended credit lines, you are staring down the drain of stagnation during repayment period, or being ruined financially - if unable to make payments.

In the simplest of term, this is economic hardship. This is a true picture of a family's wallet in New York City of today. It is a perfect picture of what low income families, single parents and retirees go through in our city today. And congestion charge made it worse.

As an independent candidate for Mayor, I see the effect of this on family budgets as well as on the city - through a decrease in consumer spending. If elected Mayor in two weeks time, I see an urgent need to declare all the boroughs, except Manhattan, as a qualified opportunity zone. With the city and the local boroughs as partners, I see a need to grant preferential tax treatment and a deferred interest on capital gains to interested investors for five years.

I see a window to float bonds for programs that align with low income housing tax credit opportunities. And whilst the FED relieve this economic hardship through social services like SNAP, I will offer New Yorkers' work credits as money in pocket programs, so the average Joe could enjoy the benefit of investing in their own community.

I am Abbey Laurel-Smith, an Independent "write in" candidate running for Mayor of the City of New York. As your candidate, I favor the general well being of all New Yorkers. And as much as I promise to work to improve the living experience for retirees, students, city workers and low income families, I also promise to work hard on bringing back those high earning out-migrators who left the city for neighboring states during the pandemic.

I put New Yorkers first.

Join me, vote better live this general election and let's rebuild your city.

https://www.rebuildnewyork.city

Contact:

Abbey S Laurel-Smith
mayor@rebuildnewyork.city
@smithieformayor @SmithiesNewYork

SOURCE: Abbey S Laurel-Smith