One of the great drivers of the alienation that has made Donald Trump possible is that the growth in the American economy has been weak. In the decade from 2005 to 2015, there was not one year when the US hit three per cent growth. And to the extent there's been growth, virtually all of it has been collected by the top 10 per cent of the population. Obviously, if we knew how to make growth faster, we would. We don't. And it's very difficult to make growth more broadly shared. Because it's not just the US that has this problem.

The five million people who watch cable news are the political nation, the people who really care.

Journalists have to do their job. And journalists have to resist emotionalism. You have to keep your cool and to continue to do your job until you're prevented.

One of the things that really has gone wrong in modern politics, one of the things that made Trump possible was that many people have a view of politics as something dramatic and exciting and thrilling and emotional.

Obviously, Donald Trump won't be impeached or removed so long as the Republicans hold even one House of Congress. And even should they lose both in November of 2018, launching an impeachment - as the Republicans discovered with Bill Clinton - is very dangerous to the impeaching party. Unless you have a highly credible set of extremely damning facts, you turn a constitutional crisis into a political crisis. You rally potential supporters of the impeached president to him. You make his base bigger. So I imagine that he is likely to serve out the full term.

Nobody ever won an election by spitting at his political opponents.

The Great Society went wrong for three major reasons. First, the self-organization the Johnson administration promoted turned out to be not the pooling of family and community resources into shops and businesses, but political pressure for government handouts. Second, the Great Society failed to anticipate the perverse side-effects of handing money out to people who have done nothing to earn it. Third, while the Great Society was showering money on the poor, the Supreme Court was with childlike glee smashing to bits traditional methods of maintaining law and order.