draw a comparison between the perils of a collapse in the markets with a collapse built around an empty suit such as trump.

But to take this view, and to reject the liberal claim that any adaptation to populism only does the devil’s work, imposes a special obligation to recognize the profound emptiness at the heart of Trump himself. It’s not as if you could carve away his race-baiting and discover a healthier populism instead, or analyze him the way you might analyze his more complex antecedents, a Richard Nixon or a Ross Perot. To analyze Trump is to discover only bottomless appetite and need, and to carve at him is like carving at an online troll: The only thing to discover is the void.

So in trying to construct a new conservatism on the ideological outline of Trumpism, you have to be aware that you’re building around a sinkhole and that your building might fall in.

The same goes for any conservative response to the specific riddle of mass shootings. Cultural conservatives get a lot of grief when they respond to these massacres by citing moral and spiritual issues, rather than leaping straight to gun policy (or in this case, racist ideology). But to look at the trend in these massacres, the spikes of narcissistic acting-out in a time of generally-declining violence, the shared bravado and nihilism driving shooters of many different ideological persuasions, is to necessarily encounter a moral and spiritual problem, not just a technocratic one.

But the dilemma that conservatives have to confront is that you can chase this cultural problem all the way down to its source in lonely egomania and alienated narcissism, and you’ll still find Donald Trump’s face staring back to you.