Quoting PM's own article from November, "The victory of Donald Trump in the U.S. presidential election is further dramatic evidence that politics across the Western world has become increasingly characterized by an anti-establishment, anti-elite, anti-“talking heads” sentiment.

... The Brexit vote, the growth of anti-establishment parties in Europe, the Rob Ford phenomenon in Toronto and the anti-establishment sentiment that contributed to the defeat of the Stephen Harper and Jim Prentice governments in Canada, and now Mr. Trump’s victory – all are evidence of this."

Hasn't the defeat of our own elites already happened :) ?

Populism is by definition is the notion that the 'average' citizen is systemically exploited by the elite or ruling class. Populist movements seek to empower the powerless. A completely noble cause. The flaw is that the leaders of a populist movement risk becoming the 'elite' they reject by achieving the very power they seek.