Barack Obama still has a good chance of not being elected president – so Hillary Clinton must be telling herself. His campaign is off to a stunning start, the press adores the man and the mere possibility of President Obama has made this one of the most exciting elections in living memory. The possibility of a woman president ought to be electrifying, but is tiring by comparison.

Still, as the senator from New York would tell you, it is early days. She and John Edwards are strong contenders for the Democratic party’s nomination – and Mrs Clinton, it is easy to forget, still leads that race. Between now and the primaries, Mr Obama will have plenty of opportunities to crash.