By the 20th century, war ceased to be an encounter between two armies. It became an encounter between two societies, because a factory worker producing a gun or a bomb is as deadly as a pilot.

In a way, we can have a much easier discussion about the future of technology than we can about why a young man kills another man in a war.

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.

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.

The Chinese have a long history of slaughtering each other without bothering their neighbors.

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.