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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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