Wednesday, June 30, 2010
New study documents media's servitude to Government
A newly released study from students at Harvard's John F. Kennedy School of Government provides the latest evidence of how thoroughly devoted the American establishment media is to amplifying and serving (rather than checking) government officials. This new study examines how waterboarding has been discussed by America's four largest newspapers over the past 100 years, and finds that the technique, almost invariably, was unequivocally referred to as "torture" -- until the U.S. Government began openly using it and insisting that it was not torture, at which time these newspapers obediently ceased describing it that way...
Add Government to the List of ‘Fat Cats’
...But there is something more fundamental going on here, too, an underlying shift in the meaning of American populism. Most Democrats, after all, persist in embracing populism as it existed in the early part of the last century — that is, strictly as a function of economic inequality. In this worldview, the oppressed are the poor, and the oppressors are the corporate interests who exploit them.
That made sense 75 years ago, when a relatively small number of corporations — oil and coal companies, steel producers, car makers — controlled a vast segment of the work force and when government was a comparatively anemic enterprise. In recent decades, however, as technology has reshaped the economy, more and more Americans have gone to work for smaller or more decentralized employers, or even for themselves, while government has exploded in size and influence. (It’s not incidental that the old manufacturing unions, like the autoworkers and steelworkers, have been eclipsed in membership and political influence by those that represent large numbers of government workers.)
Since this transformation took place, a succession of liberal politicians — Jesse Jackson, Jerry Brown, John Edwards — have tried to run for president on a traditionally populist, anticorporate platform, with little success. That is because today’s only viable brand of populism, the same strain that Ross Perot expertly tapped as an independent presidential candidate in 1992, is not principally about the struggling worker versus his corporate master. It is about the individual versus the institution — not only business, but also government and large media and elite universities, too. ...
Tuesday, June 29, 2010
The Cost of Unions
...Unionized public sector workers have much higher average wages and benefits than nonunionized public sector workers. Bureau of Labor Statistics data in Table 2 show that union members have a 31-percent advantage in wages and a 68-percent advantage in benefits....
...This information is interesting in the context of the following chart. It shows that in 2009, for the first time ever, more public-sector employees (7.9 million) belonged to a union than did private-sector employees (7.4 million) despite there being five times more wage and salary workers in the private sector....
ADAMS: Inside the Black Panther case
On the day President Obama was elected, armed men wearing the black berets and jackboots of the New Black Panther Party were stationed at the entrance to a polling place in Philadelphia. They brandished a weapon and intimidated voters and poll watchers. After the election, the Justice Department brought a voter-intimidation case against the New Black Panther Party and those armed thugs. I and other Justice attorneys diligently pursued the case and obtained an entry of default after the defendants ignored the charges. Before a final judgment could be entered in May 2009, our superiors ordered us to dismiss the case.
The New Black Panther case was the simplest and most obvious violation of federal law I saw in my Justice Department career. Because of the corrupt nature of the dismissal, statements falsely characterizing the case and, most of all, indefensible orders for the career attorneys not to comply with lawful subpoenas investigating the dismissal, this month I resigned my position as a Department of Justice (DOJ) attorney.
The federal voter-intimidation statutes we used against the New Black Panthers were enacted because America never realized genuine racial equality in elections. Threats of violence characterized elections from the end of the Civil War until the passage of the Voting Rights Act in 1965. Before the Voting Rights Act, blacks seeking the right to vote, and those aiding them, were victims of violence and intimidation. But unlike the Southern legal system, Southern violence did not discriminate. Black voters were slain, as were the white champions of their cause. Some of the bodies were tossed into bogs and in one case in Philadelphia, Miss., they were buried together in an earthen dam.
Based on my firsthand experiences, I believe the dismissal of the Black Panther case was motivated by a lawless hostility toward equal enforcement of the law. Others still within the department share my assessment. The department abetted wrongdoers and abandoned law-abiding citizens victimized by the New Black Panthers. The dismissal raises serious questions about the department's enforcement neutrality in upcoming midterm elections and the subsequent 2012 presidential election....
...Some have called the actions in Philadelphia an isolated incident, not worthy of federal attention. To the contrary, the Black Panthers in October 2008 announced a nationwide deployment for the election. We had indications that polling-place thugs were deployed elsewhere, not only in November 2008, but also during the Democratic primaries, where they targeted white Hillary Rodham Clinton supporters. In any event, the law clearly prohibits even isolated incidents of voter intimidation....
...Some of my co-workers argued that the law should not be used against black wrongdoers because of the long history of slavery and segregation. Less charitable individuals called it "payback time." Incredibly, after the case was dismissed, instructions were given that no more cases against racial minorities like the Black Panther case would be brought by the Voting Section.
Refusing to enforce the law equally means some citizens are protected by the law while others are left to be victimized, depending on their race. ...
Sunday, June 27, 2010
After big 1979 spill, a stunning recovery
... For Tunnell and others involved in the fight to contain the June 3, 1979, spill from Mexico's Ixtoc 1 offshore well in the Gulf of Campeche, the BP blowout in the Gulf of Mexico conjures an eerie sense of déjà vu.
Like the BP spill, the Ixtoc disaster began with a burst of gas followed by an explosion and fire, followed by a relentless gush of oil that resisted all attempts to block it. Plugs of mud and debris, chemical dispersants, booms skimming the surface of the water: Mexico's Pemex oil company tried them all, but still the spill inexorably crept ashore, first in southeast Mexico, later in Texas.
But if the BP spill seems to be repeating one truth already demonstrated in the Ixtoc spill - that human technology is no match for a high-pressure undersea oil blowout - scientists are hoping that it may eventually confirm another: that the environment has a stunning capacity to heal itself from manmade insults.
"The environment is amazingly resilient, more so than most people understand," says Luis A. Soto, a deep-sea biologist with advanced degrees from Florida State University and the University of Miami who teaches at the National Autonomous University of Mexico.
"To be honest, considering the magnitude of the spill, we thought the Ixtoc spill was going to have catastrophic effects for decades. ... But within a couple of years, almost everything was close to 100 percent normal again."...
Saturday, June 26, 2010
Avertible catastrophe
...Why does neither the U.S. government nor U.S. energy companies have on hand the cleanup technology available in Europe? Ironically, the superior European technology runs afoul of U.S. environmental rules. The voracious Dutch vessels, for example, continuously suck up vast quantities of oily water, extract most of the oil and then spit overboard vast quantities of nearly oil-free water. Nearly oil-free isn't good enough for the U.S. regulators, who have a standard of 15 parts per million -- if water isn't at least 99.9985% pure, it may not be returned to the Gulf of Mexico.
When ships in U.S. waters take in oil-contaminated water, they are forced to store it. As U.S. Coast Guard Admiral Thad Allen, the official in charge of the clean-up operation, explained in a press briefing on June 11, "We have skimmed, to date, about 18 million gallons of oily water--the oil has to be decanted from that [and] our yield is usually somewhere around 10% or 15% on that." In other words, U.S. ships have mostly been removing water from the Gulf, requiring them to make up to 10 times as many trips to storage facilities where they off-load their oil-water mixture, an approach Koops calls "crazy."
The Americans, overwhelmed by the catastrophic consequences of the BP spill, finally relented and took the Dutch up on their offer -- but only partly. Because the U.S. didn't want Dutch ships working the Gulf, the U.S. airlifted the Dutch equipment to the Gulf and then retrofitted it to U.S. vessels. And rather than have experienced Dutch crews immediately operate the oil-skimming equipment, to appease labour unions the U.S. postponed the clean-up operation to allow U.S. crews to be trained.
A catastrophe that could have been averted is now playing out. With oil increasingly reaching the Gulf coast, the emergency construction of sand berns to minimize the damage is imperative. Again, the U.S. government priority is on U.S. jobs, with the Dutch asked to train American workers rather than to build the berns. According to Floris Van Hovell, a spokesman for the Dutch embassy in Washington, Dutch dredging ships could complete the berms in Louisiana twice as fast as the U.S. companies awarded the work. "Given the fact that there is so much oil on a daily basis coming in, you do not have that much time to protect the marshlands," he says, perplexed that the U.S. government could be so focussed on side issues with the entire Gulf Coast hanging in the balance....
BP's Army of Democratic Lobbyists
BP, which has garnered the bulk of public attention and contempt for the spill, has assembled a formidable team of Democrats for its Washington lobbying, legal and public-relations offensive. There is Tony Podesta, who heads one of the District's leading lobbying firms; legal adviser Jamie Gorelick, a top Justice Department official in the Clinton administration now at the law firm WilmerHale; Hilary Rosen, a former recording-industry lobbyist who heads the Washington office of the Brunswick Group, a public-relations consultancy; and Michael S. Berman of the Duberstein Group, who was a longtime aide to former vice president Walter F. Mondale before becoming a lobbyist.
Gorelick, who also served as a member of the 9/11 Commission, proved critical in coaching the company during tense negotiations with President Obama over the creation of a $20 billion escrow fund for spill damages, according to several sources close to the talks. White House Chief of Staff Rahm Emanuel said Sunday on ABC's "This Week" that the administration "forced" BP to set up the fund and to intensify its efforts to contain the spill....
The ties that bind. Remember Rahm Emanuel's rent-free D.C. apartment? The owner: A BP adviser
In case you were tempted to buy the faux Washington outrage at BP and its gulf oil spill in recent days, here's a story that reveals a little-known corporate political connection and the quiet way the inner political circles intersect, protect and care for one another in the nation's capital. And Chicago.
We already knew that BP and its folks were significant contributors to the record $750-million war chest of Barack Obama's 2007-08 campaign.
Now, we learn the details of a connection of Rahm Emanuel, the Chicago mayoral wannabe, current Obama chief of staff, ex-representative, ex-Clinton money man and ex-Windy City political machine go-fer.
Shortly after Obama's happy inaugural, eyebrows rose slightly upon word that, as a House member, Emanuel had lived the last five years rent-free in a D.C. apartment of Democratic colleague Rep. Rosa DeLauro of Connecticut and her husband, Stanley Greenberg. ...
...Greenberg's consulting firm was a prime architect of BP's recent rebranding drive as a green petroleum company, down to green signs and the slogan "Beyond Petroleum."
Greenberg's company is also closely tied to a sister Democratic outfit -- GCS, named for the last initials of Greenberg, James Carville, another Clinton advisor, and Bob Shrum, John Kerry's 2004 campaign manager.
According to published reports, GCS received hundreds of thousands of dollars in political polling contracts in recent years from the Democratic Congressional Campaign Committee.
Probably just a crazy coincidence. But you'll never guess who was the chairman of that Democratic Congressional Campaign Committee dispensing those huge polling contracts to his kindly rent-free landlord.
Tuesday, June 22, 2010
Experts Say White House 'Misrepresented' Views to Justify Drilling Moratorium
The seven experts who advised President Obama on how to deal with offshore drilling safety after the Deepwater Horizon explosion are accusing his administration of misrepresenting their views to make it appear that they supported a six-month drilling moratorium -- something they actually oppose.
The experts, recommended by the National Academy of Engineering, say Interior Secretary Ken Salazar modified their report last month, after they signed it, to include two paragraphs calling for the moratorium on existing drilling and new permits.
Salazar's report to Obama said a panel of seven experts "peer reviewed" his recommendations, which included a six-month moratorium on permits for new wells being drilled using floating rigs and an immediate halt to drilling operations.
"None of us actually reviewed the memorandum as it is in the report," oil expert Ken Arnold told Fox News. "What was in the report at the time it was reviewed was quite a bit different in its impact to what there is now. So we wanted to distance ourselves from that recommendation."
Salazar apologized to those experts Thursday....
Did Bush & Co. Do Medical Research on Detainees?
...PHR says that declassified documents show, first, that “Research and medical experimentation on detainees was used to measure the effects of large-volume waterboarding and adjust the procedure according to the results.” As a result, saline was added “to prevent putting detainees in a coma or killing them through over-ingestion of large amounts of plain water.”
Second, “Health professionals monitored sleep deprivation on more than a dozen detainees in 48-, 96- and 180-hour increments. This research was apparently used to monitor and assess the effects of varying levels of sleep deprivation to support legal definitions of torture and to plan future sleep deprivation techniques.”
Third, “Health professionals appear to have analyzed data, based on their observations of 25 detainees who were subjected to individual and combined applications of ‘enhanced’ interrogation techniques, to determine whether one type of application over another would increase the subject’s ‘susceptibility to severe pain.’ The alleged research appears to have been undertaken only to assess the legality of the ‘enhanced’ interrogation tactics and to guide future application of the techniques.” ...
Church pastors, deacon going to prison over fraud
Two pastors and a deacon of a former Houston church each was sentenced Monday to federal prison in FEMA and student loan fraud schemes. ...
Monday, June 21, 2010
The Agony of the Liberals
...But it’s here, with the looming fiscal crisis, that the more legitimate liberal fear comes in. Liberals had hoped that Obama’s election marked the beginning of a long progressive era — a new New Deal, a greater Great Society. Instead, from the West Coast to Western Europe, the welfare state is in crisis everywhere they look. The future suddenly seems to belong to austerity and retrenchment — and even, perhaps, to conservatism.
In this environment, the rage against Obama for not doing more, now, faster, becomes at least somewhat understandable. It’s not that he hasn’t done a great deal for liberals during his 18 months in office. It’s that liberalism itself may be running out of time.
Sunday, June 20, 2010
The Consequences of Mortgage Credit Expansion: Evidence from the U.S. Mortgage Default Crisis
We conduct a within-county analysis using detailed zip code level data to document new findings regarding the origins of the biggest financial crisis since the Great Depression. The recent sharp increase in mortgage defaults is significantly amplified in subprime zip codes, or zip codes with a disproportionately large share of subprime borrowers as of 1996. Prior to the default crisis, these subprime zip codes experience an unprecedented relative growth in mortgage credit. The expansion in mortgage credit from 2002 to 2005 to subprime zip codes occurs despite sharply declining relative (and in some cases absolute) income growth in these neighborhoods. In fact, 2002 to 2005 is the only period in the last eighteen years when income and mortgage credit growth are negatively correlated. We show that the expansion in mortgage credit to subprime zip codes and its dissociation from income growth is closely correlated with the increase in securitization of subprime mortgages. Finally, we show that all of our key findings hold in markets with very elastic housing supply that have low house price growth during the credit expansion years. ...
Saturday, June 19, 2010
You're Losing Your Plan
Late last week saw the first leaks of the administration's draft regulations for implementing the ObamaCare law--and everything is playing out just as the critics warned.
The 3,000-odd pages of legislation left most of the really important (and controversial) policy decisions to the regulations that government agencies were told to issue once the bill passed. Now that those regs are starting to take shape, it's clear that the Obama team is using its new power to exert tight control over the payment and delivery of all formerly "private" health insurance.
The ObamaCare law references the Secretary of Health and Human Services almost 2,200 times and uses the phrase "the secretary shall" more than 725. Each reference requires HHS to set new rules on medical care, giving control to an existing federal office or one of 160 new agencies that the bill created.
HHS Secretary Kathleen Sebelius (who was once the Kansas state-insurance commissioner) has taken to these tasks with zeal. In some circles, she's now known as the nation's "insurance regulator in chief."
She's starting off by applying new regs to health plans offered by large employers--even though these costly rules were supposedly only going to apply to plans sold in the state insurance "exchanges" that don't get created until 2014. This twist is spelled out in an 83-page draft of a new regulation that leaked late last week.
Bottom line: Sebelius means to dictate what your insurance plan must look like almost from day one, no matter how you get your coverage.
Indeed, the draft regs envision more than half of all policies having to change within three years--an unmistakable break with President's Obama's oft-repeated promise, "If people like their insurance, they will be able to keep it."...
Lawmakers' committee assignments and industry investments overlap
...On the House Agriculture Committee, which holds sway over farm policies and subsidies, members had farming and agribusiness investments worth five times on average the amount held by other colleagues in the House. Many of the committee members' holdings were in family farms. Nothing prevents those members from also receiving farm subsidies, and in the past, some have.
Likewise, House Energy and Commerce Committee members, who routinely hold hearings about telecommunications and computer issues, had heavier than average investments in companies such as Oracle, Nokia, AT&T and Verizon.
House Homeland Security Committee members also had more communications and electronics holdings as a group than the House as a whole, and House Transportation and Infrastructure Committee members as a group owned almost six times more holdings in transportation firms.
In the Senate, the Banking, Housing and Urban Affairs Committee had on average almost twice the value of holdings in finance, insurance and real estate as that chamber as a whole. The Senate Environment and Public Works Committee members had almost three times the value of agribusiness holdings as their colleagues on other committees. ...
ObamaCare: Unions Get Better Grandfathers
ObamaCare appears to have one grandfathered standard for labor unions and another standard for everyone else.
Unions that had a health plan under a collective bargaining agreement by March 23, 2010, can switch insurers as long as the collective bargaining deal is in effect and not forfeit the grandfathered exemptions from many ObamaCare provisions. But anyone else — large business, small business, individual — who switches carriers loses their grandfathered status.
IBD reported in Monday’s issue that the administration estimates that most employers’ health plans would lose their grandfathered status under draft regulations. The government has now officially released those regulations (pdf).
But unions don’t have to follow the same rules...
Obama Begins "Lifestyle Health Modification" Program, Mandating Behavioural Changes Within US Society
Last week, with little fanfare, among the ever deteriorating oil spill crisis, the White House quietly noted the issuance of an executive order "Establishing the National Prevention, Health Promotion, and Public Health Council", in which the president, citing the “authority vested in me as President by the Constitution and the laws of the United States of America” is now actively engaging in "lifestyle behavior modification" for American citizens that do not exhibit "healthy behavior." At least initially, the 8 main verticals of focus will include: smoking cessation; proper nutrition; appropriate exercise; mental health; behavioral health; sedentary behavior; substance-use disorder; and domestic violence screenings. Eventually we fully anticipate that the program will also target such wholesome activities as screening for precious metal holdings, monthly minimum usage of available revolving credit (and a minimum threshold thereto) and the susceptibility of an individual to stay current on one's mortgage. Additionally, the president will establish yet another Advisory Group, composed of "experts" picked from the public health field, and one which tracks the successful uptake by the US population of the precepts for a better functioning society that the president deems important. Cosmo culture has just been adopted by the White House, where Big Brother is now in the business of counting calories, and soon, your bars of gold....
Friday, June 18, 2010
The rise and rise of the Champagne Malthusians
In March 1933, the International Birth Control Movement held a Malthusian Ball in London. In the opulent surroundings of the five-star Dorchester Hotel, the great and the good gathered to discuss the problem of poor people’s breeding, the ‘Negro issue’, the best way to promote ‘family planning’, and other burning Malthusian dilemmas. All while decked out in diamonds, gowns and tuxedos, doing the foxtrot and clinking their champagne glasses as they mulled over how best to stop the lower specimens of humanity from getting knocked up with such dumb abandon.
Last week I attended a modern-day equivalent of the Malthusian Ball. It was in the luxurious crypt of St Pancras Church in Euston rather than at the Dorchester and there was no dancing this time. But we were invited to drink ‘luxury Belgian beer from champagne flutes’ and to peruse £1,500 paintings depicting ‘teeming crowds’ as we debated the ‘population problem’. The attendees were more casually dressed than their 1933 forebears - no floor-draping dresses - but once again, in between sips from champagne glasses, men and women with pronunciation far more received than mine gathered to fret over how humankind is spreading like a ‘cancer’ (their word)....
...Obsessed with the idea of limited resources and the insatiable greed of men, Malthusians’ only solution is to save resources by reducing the number of men. A progressive possessed of a social outlook looks at the problems facing mankind and says (in a nutshell) ‘we need more stuff’ – a Malthusian looks at them and says ‘we need fewer people’. Their belief that all the world’s problems are caused by there being Too Many People has not only been proved unfounded again and again (we have continually discovered new and improved ways to make and distribute resources), but it also inevitably makes them misanthropic. Those who think human numbers can continue rising should remember that ‘unremitting growth is the doctrine of the cancer cell’, said Professor John Guillebaud in St Pancras Church, capturing well the Malthusians’ view of humanity as a virus on Gaia’s person....
...Yet when you promote ‘family planning’ on the basis that too many children will ‘destroy biodiversity’, on the basis that women are spawning ‘environment trashers’, on the basis that ‘we are doomed’ if women keep on breeding irresponsibly, on the basis that our offspring, little more than a species of ‘ape’, will do ‘sick and disgusting’ things to the Earth (all direct quotations from last week’s Malthusian get-together), then you’re not giving women a choice – you’re giving them an ultimatum: ‘Stop breeding or the planet gets it.’ You are polluting their decision-making universe with your own prejudices, using the politics of fear to get them to make the ‘right choices’. That is coercion. And whether you’re doing it in order to create a ‘strong and healthy nation’, as in 1933, or to ‘protect biodiversity’, as in 2010, the result is the same: women’s freedom of choice is undermined, and ordinary people are branded with the blame for what are in fact social problems....
The IPCC consensus on climate change was phoney, says IPCC insider
The UN’s Intergovernmental Panel on Climate Change misled the press and public into believing that thousands of scientists backed its claims on manmade global warming, according to Mike Hulme, a prominent climate scientist and IPCC insider. The actual number of scientists who backed that claim was “only a few dozen experts,” he states in a paper for Progress in Physical Geography, co-authored with student Martin Mahony.
“Claims such as ‘2,500 of the world’s leading scientists have reached a consensus that human activities are having a significant influence on the climate’ are disingenuous,” the paper states unambiguously, adding that they rendered “the IPCC vulnerable to outside criticism.”...
Lawrence Solomon: IPCC insider explains embarrassing disclosure that went viral
On Sunday, I wrote a blog about an IPCC insider who stated that the IPCC had been disingenuous in claiming that 2500 scientists had endorsed the view that humans are responsible for global warming. By Monday, my blog had gone viral, appearing in thousands of locations in the blogosphere and garnering perhaps hundreds of thousands of hits. Earlier today, Hulme provided a convoluted response on his own blog site, in an attempt to counter my blog.
He should instead take his own advice, which he had given to the IPCC in his paper: Don’t be disingenuous, because it makes you vulnerable to criticism....
The UN’s Intergovernmental Panel on Climate Change misled the press and public into believing that thousands of scientists backed its claims on manmade global warming, according to Mike Hulme, a prominent climate scientist and IPCC insider. The actual number of scientists who backed that claim was “only a few dozen experts,” he states in a paper for Progress in Physical Geography, co-authored with student Martin Mahony.
“Claims such as ‘2,500 of the world’s leading scientists have reached a consensus that human activities are having a significant influence on the climate’ are disingenuous,” the paper states unambiguously, adding that they rendered “the IPCC vulnerable to outside criticism.”...
Lawrence Solomon: IPCC insider explains embarrassing disclosure that went viral
On Sunday, I wrote a blog about an IPCC insider who stated that the IPCC had been disingenuous in claiming that 2500 scientists had endorsed the view that humans are responsible for global warming. By Monday, my blog had gone viral, appearing in thousands of locations in the blogosphere and garnering perhaps hundreds of thousands of hits. Earlier today, Hulme provided a convoluted response on his own blog site, in an attempt to counter my blog.
He should instead take his own advice, which he had given to the IPCC in his paper: Don’t be disingenuous, because it makes you vulnerable to criticism....
Thursday, June 17, 2010
Transcript: Charlie Gibson Interviews President Bush
...BUSH: Well, that was, of course, the crystallization. When you have the Secretary of the Treasury and the Chairman of the Fed [Ben Bernanke] say, if we don't act boldly, we could be in a depression greater than the Great Depression, that's an "uh-oh" moment. But you got to understand, leading up to that we had been bailing water in this way: AIG was failing; other big houses on Wall Street needed to be merged, one failed -- ...
Inside the Meltdown
ANNOUNCER: On September 18th, 2008, the secretary of the Treasury, Henry Paulson, and the chairman of the Federal Reserve, Ben Bernanke, arrived for an emergency meeting at the Capitol....
JOE NOCERA: Bernanke said, "If we don't do this tomorrow, we won't have an economy on Monday."...
Bernanke says crisis 'no comparison' to Great Depression
Federal Reserve chairman Ben Bernanke said Monday the current economic situation bears "no comparison" to the much deeper crisis of the 1930s Great Depression.
"Well, you hear a lot of loose talk, but let me just ... say, as a scholar of the Great Depression -- and I've written books about the Depression and been very interested in this since I was in graduate school, there's no comparison," Bernanke said in a question period after an address in Austin, Texas.
Bernanke cited "an order-of-magnitude difference" in the current situation compared to the 1930s.
"During the 1930s, there was a worldwide depression that lasted for about 12 years and was only ended by a world war," he said.
"During that time, the unemployment rate went to 25 percent, at least, based on the data that we have. The real GDP (gross domestic product) fell by one-third. About a third of all of the banks failed. The stock market fell 90 percent."
Bernanke said the situation at that time represented "very difficult circumstances," because "we didn't have the social safety net that we have today. So let's put that out of our minds; there's no -- there's comparison in terms of severity."
He added, "We're very lucky to live in a country as rich and diversified as the one we have. And I hope that we will have a quick and rapid recovery from the current slowdown." ...
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