I suppose the question is, how big is the bubble and how much loss of confidence does it take to puncture it?

The stock market has been going up rapidly even during Biden, but the prospect of outright oligarchy seems like it’s been welcomed so far by shareholders and a lot of future value is built into the current price - less regulation means more profit, presumably (sorry, democracy).

But if that core assumption is wrong, and actually this may be less profitable, presumably there will be a long and deep correction.