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SMW for 16 December 2022




AT THE CLOSING BELL ON 16 December 2022


Dow Jones 32,920.46 -281.76 (0.85%)
S&P 500 3,852.36 -43.39 (1.11%)
Nasdaq 10,705.41 -105.11 (0.97%)

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Quote for the Day:

Negotiations, however, faced a rigid impasse. Quite apart from preconditions, Hanoi would accept no settlement short of coalition or some other form of compromise leading to its absorption of the South; for the United States any such compromise would represent acknowledgment of American failure, and this the Administration, all the more now for having made itself hostage to its own military, could not accept. It was chained to the aim of ensuring a non-Communist South Vietnam in order to make its exit with credibility intact. The goal had subtly changed from blocking Communism to saving face.

Barbara W. Tuchman. The March of Folly: From Troy to Vietnam. Ballantine Books. (c) 1984.