Every president back to Bill Clinton enjoyed full party control of Congress and fantasized about lasting, durable governing dominance. • Every president back to Bill Clinton lost it within two years.

Why it matters: Nothing captures the volatility of American politics better than this win-big, lose-quick phenomenon. It's like a new law of political gravity: What the swing voter giveth, the swing voter abruptly taketh away. • President Trump would need to defy gravity to avoid the same fate that hit him during his first term … and hit Joe Biden … and Barack Obama … and George W. Bush … and Clinton.

The big picture: We've been telling readers for a decade to expect whiplash political volatility for the foreseeable future. This makes business planning more difficult because the regulato

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