I think the personal and psychological aspects of war remain the same. War is about killing and dying. A man or woman stands at the post and there is a very real possibility of dying in the next five minutes. Whether he dies or not depends partly on him and partly on luck, and yet he must continue to function.

So as soon as you want something to happen you begin skewing the data to support it. Our stuff is invaluable to decision-makers precisely because we have no ax to grind.

Italy is the fourth-largest economy in Europe and the eighth-largest economy in the world, and its banking system is collapsing. And Germany is desperate. It must maintain its standard of living. It can only do that with exports and Deutsche Bank is very exposed to Italian debt. But so is the rest of Europe.

One of the great weaknesses of journalists is they interview people and they think that's important. They think that they are going to show them their true hand. But more to the point, they're trapped.

So you go to Brookings, or you go to Heritage or others, they know their position on any subject before they research it. If you go to an investment bank, they know what parts of the world they are going to cover and what parts of the world they are not going to cover depending on client interest. We cover the world without being skewed by that. And that makes it more valuable.

Recent presidents have gone off on ad hoc adventures. They have set unattainable goal because they have framed the issue incorrectly, as they believed their own rhetoric.

What is revolutionary today is that we're using precision-guided munitions. And instead of building individual weapons, we are building an industry and a philosophy, the culture of precision. You saw Desert Storm. Precision works.