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“They have no reason to trade that chit in now, especially at a time where U.S. leverage is a wasting asset, and they believe they’re winning on the battlefield. And Trump has committed to a drawdown of forces regardless, so why would the Taliban offer up a cease-fire now?”

Vitale whispered to me, in effect, “Get this book out fast. He is a wasting asset.”

It is always possible to quibble with the details of a peace process or peace deal, but here is the hard reality: U.S. leverage in Afghanistan is a wasting asset.

After all, gala-dinner seats are a wasting asset: If you don’t sell them by the night of the dinner, they’re worthless.

Mr. Terry said that the Old Post Office’s “historic integrity has been restored, and the wasting asset is now being put to productive use.”