I’d like to share an interesting analog with you: the timespan 1978-1981 as compared to 2022-present. It isn’t tick-for-tick perfect, but it’s close enough to be intriguing.
As a reminder, there was a big run-up based on the excitement about a bold Republican President who was, at long last, really going to shake things up. The peak of excitement was in January 1981, just as he was about to start his Presidency, and it was a brutal slide for many months after that.
I mean, look, the chart isn’t the analog at play here. There is another contemporaneous parallel.
