Only 55% of Americans own stock at all, only 35% in a non-retirement account [1], and the top 20% of earners own 87% of equities [2]. In polling, the stock mar

Only 55% of Americans own stock at all, only 35% in a non-retirement account [1], and the top 20% of earners own 87% of equities [2]. In polling, the stock market is not a significant factor in most Americans' vote. Stockholders tend to dramatically overestimate their numbers and importance. Inflation, however, will reliably kill a presidency. Note that we went through 4 presidents in the 8 years of the 1970s inflation, while the average president in the 40 years afterward served for 8 years. This holds universally across cultures as well - globally, countries like Venezuela, Zimbabwe, Weimar Germany, post-war Eastern Europe, etc. go through rapid regime change during periods of high inflation. [1] https://www.pewresearch.org/fact-tank/2020/09/25/few-in-u-s-owned-stocks-outside-of-401ks-in-2019-fewer-said-market-had-a-big-impact-on-their-view-of-economy/ https://www.pewresearch.org/fact-tank/2020/09/25/few-in-u-s-... [2] https://financebuzz.com/how-many-americans-own-stocks https://financebuzz.com/how-many-americans-own-stocks