With the decline of American interests in the outcome of this region, there is no glue holding it together. And the countries in this region are invented ... The last guarantor of the region's borders was the United States, and the US has basically said "the hell with it." What you're really having is the collapse of nation-states because they're not nations. They're only states.

Germany is the new pig. Germany depends on exports and its markets are drying up. When the Germans start getting 10% unemployment, 15% unemployment, which is the real variable, how are they going to handle it?

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.

What is American strategy first of all? So American strategy is to command the seas, right? The foundation of our power is sea control. Nobody can invade us, but we can invade them.

When I get asked the question, "Do I want to loan you money?" I want to know, how much do you earn? How much do you owe? What is your net worth? When people talk about countries for some reason they only ask how much did you earn and what's your debt?

Because the US has control of the sea. Because the US has built up its wealth. Because the US is the only country in the world really not to have a war fought on its territory since the time of the Civil War ... Therefore we can afford mistakes that would kill other countries. And therefore we can take risks that they can't ... the core answer to why the United States is like this is we didn't fight World War I and World War II and the Cold War here.

I think there are worse things than war. For example, injustice.