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SMW for 30 December 2022




AT THE CLOSING BELL ON 30 December 2022


Dow Jones 33,147.25 -73.55 (0.22%)
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Nasdaq 10,466.48 -11.61 (0.11%)

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Quote for the Day:

In any case, to ultra-conservatives, for whom the old pieties are binding moral principles, the Eisenhower administration was worse than a disappointment, it was a betrayal. It did not repeal the New Deal reforms, do away with high taxes, kill foreign aid, or balance the budget. In fact, its primary historical function seemed to be to legitimate what had been done under Roosevelt and Truman: when it left certain domestic and foreign policies intact, it made them more generally acceptable by passing them, so to speak, through the purifying fire of eight years of Republicanism and thus confirming that they represented, after all, a bipartisan consensus. The right-wing minority saw all this not as a clue to the nature of our national problems but as further evidence that the conspiracy originally set in motion by the Democrats was being carried on by the Eastern Republicans behind Eisenhower.

Richard Hofstadter. "Goldwater and Pseudo-Conservative Politics" in The Paranoid Style in American Politics and Other Essays. Vintage Books. (c) 1952/1965/2008/