It is time to look more seriously at the Donald Trump presidential candidacy. He continues to lead the polls among Republicans; his closest rivals seem now to be Senators Mario Rubio and Ted Cruz, easing ahead of Dr. Ben Carson. There does not seem to have been much effort to see the Trump candidacy in any sort of historic context. For the first time in its history, the United States has had four, and arguably five, consecutive terms of unsuccessful federal government, from administrations and Congresses of both parties. The last Clinton term under-reacted to the original terrorist incidents at the Khobar Towers (1996), the Nairobi and Dar es Salaam embassies (1998) and the USS Cole (in 2000); and stoked up the housing bubble through the Community Reinvestment Act and executive orders to Fannie Mae and Freddie Mac to invest massively in sub-prime mortgages. George W. Bush responded well to terrorism, and his economic countermeasures were adequate after the 9/11 attacks, but he did nothing to let the air gently out of the housing bubble, his response was contemptibly inept when the economic crisis erupted, and his intervention in Iraq was for unsubstantiated reasons and resulted in a major strategic victory for America’s Iranian enemies, a vast waste of lives and treasure, and an immense humanitarian crisis.