On the other hand, it is entirely possible that the market is pricing in the defeat or watering down of socialized medicine (among all the other factors that are in flux these days).
Correct. The market generally discounts the future. One of the reasons the market and economy started plummeting in Bush’s final days. The economy was hurt by 2006 Dem Congress an dthe NO Energy Policy (No to anything & everything) that drove gas prices to $4.50 a gallon.
Again discounting the future in us (due to the Dems) doing nothing when we sit on about 5 times the Saudis reservews in shale oil, coal diesel, offshore, hydrates, nat gas, etc.