Donald Trump has again been elected president of the United States. His victory is the victory of the US billionaire class who lavished hundreds of millions of dollars on his election campaign. It is also the defeat of a Democratic Party that no longer offers any prospects to young people and to the working class. Trump's election ushers in a new phase of authoritarianism in the US, and of hostility and tension around the world. But there is hope: a new generation of activists is ready to lead the resistance.