And so ends the great populist uprising of our time, fizzling out pathetically in the mud and the bigotry stirred up by a third-rate would-be caudillo named Donald J Trump. So closes an era of populist outrage that began back in 2008, when the Davos dream of a world run by benevolent bankers first started to crack. The unrest has taken many forms in these eight years – from idealistic to cynical, from Occupy Wall Street to the Tea Party – but they all failed to change much of anything.



And now the last, ugliest, most fraudulent manifestation is failing so spectacularly that it may discredit populism itself for years to come.

Two weeks ago, I wrote in this space about how the Trump phenomenon had reconfigured the conventional geometry of the two-party system. Trump was riding high in the polls at that moment, and there was reason to believe that his criticism of trade deals – one of several Trumpian causes long associated with the populist left – might play havoc with the Democrats’ happy centrist plans.

Now let us ponder the opposite scenario. In the intervening two weeks, Trump has destroyed himself more efficiently than any opposition campaign could ever have done. First, he heaped mounds of insults on the family of a US soldier killed in Iraq, then prominent journalists raised doubts about his mental state, and then (as if to confirm his doubters) he dropped a strong hint that gun enthusiasts might take action against Hillary Clinton should she appoint supreme court justices not to his liking.

His chances, as measured in the polls, went almost overnight from fairly decent to utter crap. For much of this year, populism had the gilded class really worried. There was Bernie Sanders and the unthinkable threat of a socialist president. There was the terrifying Brexit vote. Just a short while ago the American national newspapers were running page-one stories telling readers it was time to take seriously Trump’s followers, if not Trump himself. And on 3 August, New York Times columnist Thomas Friedman actually typed the following: “It scares me that people are so fed up with elites, so hate and mistrust [Hillary] Clinton and are so worried about the future – jobs, globalization and terrorism” that they might actually vote for Trump.

Yes, it scared Friedman that the American people didn’t like their masters any longer. As it has no doubt scared many of his rich friends to learn over the past few years that the people formerly known as middle class are angry about losing their standard of living to the same forces that are making those rich people ever more comfortable.

Well, Friedman need be frightened no longer. Today it looks as though his elites are taking matters well in hand. “Jobs” don’t really matter now in this election, nor does the debacle of “globalization”, nor does anything else, really. Thanks to this imbecile Trump, all such issues have been momentarily swept off the table while Americans come together around Clinton, the wife of the man who envisaged the Davos dream in the first place.

As leading Republicans desert the sinking ship of Trump’s GOP, America’s two-party system itself has temporarily become a one-party system. And within that one party, the political process bears a striking resemblance to dynastic succession. Party office-holders selected Clinton as their candidate long ago, apparently determined to elevate her despite every possible objection, every potential legal problem. The Democratic National Committee helped out, too, as WikiLeaks tells us. So did President Barack Obama, that former paladin for openness, who in the past several years did nearly everything in his power to suppress challenges to Clinton and thus ensure she would continue his legacy of tepid, bank-friendly neoliberalism.

My leftist friends persuaded themselves that this stuff didn’t really matter, that Clinton’s many concessions to Sanders’ supporters were permanent concessions. But with the convention over and the struggle with Sanders behind her, headlines show Clinton triangulating to the right, scooping up the dollars and the endorsement, and the elites shaken loose in the great Republican wreck.

She is reaching out to the foreign policy establishment and the neocons. She is reaching out to Republican office-holders. She is reaching out to Silicon Valley. And, of course, she is reaching out to Wall Street. In her big speech in Michigan on Thursday she cast herself as the candidate who could bring bickering groups together and win policy victories through really comprehensive convenings.

Things will change between now and November, of course. But what seems most plausible from the current standpoint is a landslide for Clinton, and with it the triumph of complacent neoliberal orthodoxy. She will have won her great victory, not as a champion of working people’s concerns, but as the greatest moderate of them all, as the leader of a stately campaign of sanity and national unity. The populist challenge of the past eight years, whether led by Trump or by Sanders, will have been beaten back resoundingly. Centrism will reign triumphant over the Democratic party for years to come. This will be her great accomplishment. The bells will ring all over Washington DC.

In this ironic and roundabout way, Trump may prove to be a disaster for the reform politics he has never really believed in. Indeed, it would be difficult to find a leader who could discredit populism more thoroughly than this compassion-free billionaire. For Friedman’s beloved “elites”, I predict that Trump will come to serve an important symbolic purpose. Trump loves to boast that he is immune to the scourge of money in politics, that he’s nobody’s puppet, and from his coming ruin and disgrace we will no doubt be told to draw many lessons about how money in politics actually helps prevent the rise of people like Trump and makes the system more stable.

For decades, the Davos set have told us that doubt about “globalization” was a species of racism, and soon Trump, as a landslide loser, will confirm this for them in overwhelming terms.

My friends and I like to wonder about who will be the “next Bernie Sanders”, but what I am suggesting here is that whoever emerges to lead the populist left will simply be depicted as the next Trump. The billionaire’s scowling country-club face will become the image of populist reform, whether genuine populists had anything to do with him or not. This is the real potential disaster of 2016: That legitimate economic discontent is going to be dismissed as bigotry and xenophobia for years to come.