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The Triad

What Happens When Trump Loses?

A guide to the chaos ahead.

Jonathan V. Last's avatar
Jonathan V. Last
10 February∙ Paid
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Donald Trump speaks with reporters before departing from the White House on February 6, 2026. (Andrew Caballero-Reynolds / AFP via Getty Images)

1. Winter Is Coming

Yesterday the White House published an “article” attempting to reassure some unnamed people that Donald Trump was winning.

At the risk of being obvious, when you’re winning you don’t have to explain why. And you sure as hell don’t have to warn people against panicking. Those are things you do when you’re losing.

And Trump is losing. Right now.

I realize that might sound nice, but don’t get carried away. Trump is about to lose one very specific thing. And this impending loss does not mean the end of his power or his project. Today I want to explore what happens after Trump loses.

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