CHARLES KRAUTHAMMER Yesterday’s conventional wisdom: A wave of insurgent populism is sweeping the West, threatening its foundational institutions – the European Union, the Western alliance, even liberal democracy itself. Today’s conventional wisdom (post-first-round French presidential election): The populist wave has crested, soon to abate. Chances are that both verdicts are wrong. The anti-establishment sentiment that gave us Brexit, then Donald Trump, then seemed poised to give us Marine Le Pen, has indeed plateaued.