Bloomberg Intelligence senior ETF analyst Eric Balchunas warned that the newly launched Trump Accounts, which aim to bring more Americans into the stock market, could dramatically increase the political pressure to prevent prolonged bear markets. He noted that currently about 45% of the country does not own stocks, but if participation rises to 70%, 80%, or even 90%, a 20% to 30% market decline would trigger an enormous outcry from voters who are also shareholders. Balchunas added that the wealthiest 1% already own half of the stock market and have close ties to people in power, further intensifying the likelihood of government intervention. He suggested that retail investors already sense this implicit backstop, which helps explain persistent ETF inflows even during periods of geopolitical tension or tariff fears.