Donald Trump's economic policies could go badly wrong – but not soon enough

We can't bank on him being a one-term president. In fact growth could actually accelerate for a couple of years before the real effects kick in

November 2020: the results of the US presidential election are in. The Democrat candidate, Elizabeth Warren, fought bravely but the outcome was never really in doubt. With the economy booming, Donald Trump is returned to the White House in a landslide. His pitch to voters has been simple: I kept my promise. America is great again.

For Trump's opponents, this is the nightmare scenario. Still stunned by Hillary Clinton's defeat, they have taken comfort from their belief that the billionaire property tycoon will prove to be a one-term president - exposed as a dangerous charlatan as soon as he takes office. This may, indeed, prove to be the case. Trumponomics is by no means a fully thought-through programme. The inconsistencies are obvious, as are the dangers. It could all go horribly wrong. But Trump may well have won a second term by the time it does.