The entire analysis is long, and worth reading.

I don’t want to attempt some grand overarching theory of Trumpism. But, broad brush, I continue to believe that it is best understood as a reaction to the erosion of white privilege, supremacy and centrality in American life.

That brings us to the second key point: Trumpism is about loss. And that loss is real. It’s not just about being haters or uneducated or stupid. The fact that what’s being lost is in most respects something that wasn’t legitimate to have in the first place – status, centrality and racial privilege – should not blind us to the fact that the loss is real and that it will have political consequences.