The Russian economy is about the size of the Italian economy; it's very small, and Russia's military force is larger than it was, because Putin's been investing in it, but it still doesn't compare to that of the United States, and his reach and aim still don't compare.

Globalization has genuinely drained power away from national politicians and people feel it. People in our fast digital age are also frustrated with the comparably slow democratic processes. Many young people - and some old people - want to know, Why does everything take so long? Why can't someone just decide and then move forward?

Putin has made life difficult for a lot of Russia's richest men; they don't like the sanctions; they don't like the war with the West. Many of them have houses and families and businesses in the West, and so I can see them being unhappy. But at the moment, the political system is so constructed that it would be very difficult for them to leave. That's not saying it couldn't change.

The evolution of a bourgeoisie is a healthy phenomenon when it grows and prospers thanks to bourgeois values: hard work, honesty, personal responsibility.

What is the appeal of Trump, really? It's nostalgic: "Make America great again." Like European nationalists, he has a vision of a "real" America, one which predates globalization, immigration, feminism, the civil rights movement and technological change, an imaginary 1950s to which we can now return. That is actually not very different from the kind of language that Marine Le Pen uses, or parts of the Brexit movement.

If Putin decides to run, which we are assuming that he will, there really isn't anything that can stop him. He can manipulate the system so that he has not real opponents; he can manipulate the media so that nobody else gets any coverage. And then, if worse comes to worse, he can - as he has done in the past - just change the electoral results. So, it's not like it's going to be a very exciting election.

Steve Bannon, the White House chief strategist, appears to imagine an alliance between Trump, Le Pen, Geert Wilders and Nigel Farage. Call it the populist international, a fraternal association of the nationalist right, binding people who want borders, across borders.