I have come to think we have to treat Donald Trump's tweets like Snapchat. It's just something that is going to go away. And it flies out of some region of his brain and it goes out into the ether. And usually it's on the realm of media.

[Donald Trump] will be the one on offense. He will be the one serving volleys, and it may be some weird stuff about the Russians, but he will be controlling things a little more than he probably did over the last two weeks.

It’s easy to see why politicians would be drawn to the populist pose. First, it makes everything so simple. The economic crisis was caused by a complex web of factors, including global imbalances caused by the rise of China. But with the populist narrative, you can just blame Goldman Sachs.

People want a reality that tells them they're right all of the time.

We are all fundamentally equal souls, and if you make a zillion dollars, you're not any better than anybody else spiritually. You're still an equal soul.

The zooming wealth of the top 1 percent is a problem, but it's not nearly as big a problem as the tens of millions of Americans who have dropped out of high school or college. It's not nearly as big a problem as the 40 percent of children who are born out of wedlock. It's not nearly as big a problem as the nation's stagnant human capital, its stagnant social mobility and the disorganized social fabric for the bottom 50 percent.

Through American history, we have had populist movements that often, often, often have this ugly racial element. But, often, there are warning signs of some deeper social and economic problem.