We have pursued public policies that kind of hold the recovery back, but the private economy is really starting to roll.

The madman theory can work, but it only works if it's strategic. And I think one of the problems that President Trump faces is people don't really know how much strategy is here and how much is he just sort of talking off the top of his head. And I think North Korea is a really classic case of a potentially insoluble problem, a problem that you have to manage.

If you really want to change the Trump administration, you have to change the guy at the top. And that's not happening anytime soon. But, again, where I do think where you will see some movement is on this economic side, where I suspect, for example, this is a victory for China, because Trump was - I mean, Bannon was the hawk on China trade.

I actually think there are more Republicans than people realize who would be sympathetic to immigration reform in the rank and file. I think the lesson for Jeb Bush is politicians shouldn't write books with long lead times.

What I am really worried about is that Donald Trump steps outside norms about, for example, what he does about his business. If he holds on to his business or just lets his kids run it, this opens up enormous possibilities for conflicts of interest.

The New York Times had a headline on its website - Trump Turning To Ultra Wealthy To Steer Economic Policy. This doesn't sound very populist to me. Today's commerce secretary, the names being talked about for treasury secretary, I think there will be populist talk but maybe no populist action.

On the question of opposition, I think there are - when you want to send a signal if you're on the Democratic side that this is a very right wing cabinet at odds with so much of what [Donald] Trump said. And it's also going to be fascinating to see if your Republican Party in the congress actually goes along with those aspects of the Trump plan that are designed to raise wages.