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A short-lived and delusional surge in the stock market or economy that occurs under [conservative] leadership. This usually happens after a crash, scandal, or policy blunder. It mimics a “dead cat bounce” but with heavier [consequences], more denial, and louder press conferences. Symbolically named after the GOP elephant, it represents the false hope injected into markets by tax cuts, culture wars, or trickle-down [talking points] that no longer land.
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