There’s a number of reasons why stocks are EXTREMELY overvalued, including the Buffet Indicator, and ripe for a very significant pullback/correction, maybe much more. The market is supported purely by extreme govt deficit spending, which is running at ridiculous crisis levels and obviously unsustainable. With the pending streamlining of govt and fiscal tightening that is surely coming, corporate earnings will plunge, bringing profit margins back to historical norms. Depending upon the scale of illegal immigrant deportations, this will also put pressure on consumer spending, although it will ease fiscal constraints at all levels. 

This extreme federal govt spending is the reason why we see a major dichotomy in the real economy. Countless big consumer facing chains are closing doors, small business bankruptcies are soaring, and actual employment is questionable, at best. Local and state governments are running significant deficits which have to be balanced.

Although I’m bullish in the intermediate to long term, I think extreme short term pain is unavoidable, no matter what Trump does, unless he doesn’t follow through on any of his major campaign promises, which I seriously doubt.

And the globalists want nothing more than to see a failed Trump presidency, and will do anything in their means to do so, including crashing the markets/economy, given how much Trump loves to tout the stock market as his primary barometer of success.

2025 will be an interesting year.