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Banking tycoon Uday Kotak is among many who've raised concerns recently about India's fading "animal spirits", urging young business owners who had inherited companies to build new businesses rather than sitting tight and managing their existing wealth.

However, he conceded that uncertainty caused by Trump's policy on trade tariffs was weighing on companies' "animal spirits" and their appetite for investment.

It is a critical few months for the animal spirits in the economy to reignite.

A common criticism of Democrats is that by talking exclusively about the so-called kitchen-table issues that voters in focus groups say they care about, they fail to to inspire the deeper animal spirits that really determine their votes.

I don’t know about you, but the arrival of a “partnerships manager” on the scene always roils my animal spirits.