Let’s get something out of the way. Sen. Bernie Sanders, the Vermont socialist who now appears ready to jump into the Democratic presidential race, is not a serious threat to Hillary Clinton. But at the same time, he does have the potential to cause her headaches.

Clinton finds herself in a special place as a Democratic presidential candidate. On the one hand, she’s the prohibitive favorite to win the nomination. On the other hand, her cautious and calculating nature, and coziness with Wall Street and corporate lobbyists, puts her out of touch with the populist tide that is sweeping through the party.